In this Rma Fx Brokers review, we are going to analyze this shady brokerage that has all hallmarks of an investment scam. This offshore-based company allegedly operates out of Saint Vincent and the Grenadines, which is a safe haven for scam brokers since SVG doesn’t accredit and regulate brokerage services.
From the moment of accessing the Rma Fx Brokers website that vaguely resembles one of the legitimate-looking websites, you will be swamped with fake offers and deception.
As an illustration, this unscrupulous broker presents itself as a leading online financial trading company offering state-of-the-art software and high-quality services transparently, legally, and globally. Of course, none of this is true.
Continue reading our in-depth and honest review that can help you avoid being defrauded by this and similar fraudsters.
|Company||Rma Fx Brokers LLC|
|Address||Suit 305, Griffith Corporate Center, Beachmont Kingstown, SVG|
Regulation and Fund Security at Rma Fx Brokers
Regulation is equal to fund security. In a rigorously controlled online trading industry, operating unlicensed is a crime. Being an unauthorized broker is the first sign of cyber fraud. That brings us to a Rma Fx Brokers license, which doesn’t exist.
This forex provider is anonymous despite its claim that it is a registered business in SVG, which can’t be checked since this entity keeps all records on registered companies private and confidential. Being a not transparent broker doesn’t inspire much trust, right?
About Rma Fx Brokers trading credentials, after running checks through all major financial awarding bodies, there are no results about this company.
Another point, it is solely the company’s responsibility to openly display information about its broker license (e.g., certification number, issuing/expiring date, and the name of the financial market regulator).
That is how authorized companies do. However, Rma Fx Brokers are far from being legitimate.
Unlicensed brokerage means no money withdrawal guarantees, a broker operates on its own, and no third party audits it.
In plain English, a company can be involved in fraudulent trading activities, bearing no consequences. Therefore, trading with Rma Fx Brokers carries significant risk, so we strongly advise against it.
Trading Software Available at Rma Fx Brokers
Rma Fx Brokers claims that its traders can trade on its MetaTrader4, which is, in every respect, the opposite. Now, MT4 is indeed one of the best trading platforms on the market due to its reliability, user-friendly interface, and advanced tools. Many genuine FX brokers utilize this very trading software.
However, this dishonest scam broker doesn’t provide it. Moreover, when you start trading with Rma Fx Brokers, all you get is some insufficient and subpar trading software that contributes to complaints about the broker.
Deposit and Withdrawal Methods
When it comes to means of payment, Rma Fx Brokers claims it supports several funding methods; however, it accepts only crypto payments. Now, this method of payment is not an issue if it is about a legit broker.
Almost all genuine companies support funding via crypto wallets alongside credit/debit cards, e-wallets, and bank wire transfers, but not Rma Fx Brokers. That raises suspicion since crypto payments are difficult to trace back, and victims can hardly apply for cashback. Hence, this way of payment is preferred by scammers.
As for trading accounts, Rma Fx Brokers offers several options.
- Silver account: $50 initial deposit, fixed spreads, 1:500 leverage;
- Gold account: $500 initial deposit, floating spreads, 1:200 leverage;
- Diamond account: $5,000 initial deposit, market spreads, 1:100 leverage;
- Demo account: Allegedly, this fraudster provides a demo account option.
Note that bonuses are banned in most jurisdictions due to misapplication while leverage is restricted; e.g., it is limited to 1:30 in the EU and UK and is up to 1:50 in the USA.
Regarding withdrawals, we are very skeptical that it is even possible with a pure financial swindler like Rma Fx Brokers. As per its webpage, the processing time for USD withdrawals is one business day, while other withdrawals take two working days.
Revealed withdrawal fees are 30 USD/16 EUR for amounts below the limit (1000 USD/800 EUR); whereas, there are no fees for payoffs above the limit.
How the Fraud Was Carried Out
So, how the Rma Fx Brokers scam is executed? All online trading scams have one thing in common, they are after your money.
Con artists behind a fraudulent project will be persistent to defraud unsuspecting victims by falsely posing as a legit business. A victim can fall for a lucrative offer or a generous bonus. Anyhow, after victims are roped into investing, they will hardly be able to retrieve their money.
Moreover, scammers will insist on more investment until you are broke or not willing to trade anymore. As a fraudulent broker realizes that it has no use for an investor, it will disappear without a trace. Thus, we urge you to be careful about easy earnings. Trade only with proven companies.
The Best Forex Brokers
Why would you bother with a bogus brokerage? Better invest with the following trustworthy forex providers. As you will find, each of them is registered in two or more jurisdictions and is authorized by top-tier financial market regulators (FCA, ASIC, and CySEC), guaranteeing your funds’ protection.
A trader of these companies is covered by respective supervisory agencies in case of a negative event. For instance, if a broker becomes insolvent, FCA indemnifies up to 85,000 GBP, CySEC compensates up to 20,000 EUR, and ASIC reimburses up to 100,000 AUD.
However, that scenario is less likely since one of licensing requirements is having and maintaining enough working capital (e.g., from several hundred thousand to a few million dollars) to ensure business sustainability.
On top of this, these corporations offer first-rate service embodied in excellent trading conditions, many trading instruments, modern trading platforms, outstanding customer support, lots of educational resources, and affordable live trading accounts.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||Fbs.com|
Rma Fx Brokers Summary
If you go through other Rma Fx Brokers reviews on the web, you will find lots of negative reviews and scam allegations against this particular company. All complaints against the broker are valid.
Rma Fx Brokers is an online trading scam trying to trick people with empty promises of fast deposits and withdrawals, low spreads and no hidden fees, and over a hundred tradable assets. In reality, it is nothing but a phony broker with no license, regulations, or anything you can benefit from.
Last but not least, think twice before taking any risks while investing money. In case you are being scammed, don’t feel ashamed. It is important to act fast and report an illicit broker to relevant authorities and warn other traders. You can also seek advice from cyber security experts to help you with claims and cashback.
FAQs About Rma Fx Brokers Broker
What Account Types Does Rma Fx Brokers Offer?
This bogus broker offers three live trading accounts: silver ($50 deposit), gold ($500 deposit), and diamond ($5,000 deposit).
What Is The Minimum Deposit at Rma Fx Brokers?
This illegal broker requires a minimum of $50 for deposits.
Can I Trust Rma Fx Brokers?
No, you can’t trust Rma Fx Brokers since it is a sophisticated scam.