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Ridge Capital Markets Review - Is it scam or safe?

Ridge Capital Markets Review - is rdgcm.com a good forex broker or a scam?

RATING: 2 / 0 REVIEWS Ridge Capital Markets
Ridge Capital Markets is an offshore broker. Your money is not safe.

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 Trading Accounts & Conditions

 

Account type Minimum deposit  Min. trade size Maximum leverage Spreads
Silver $500 0.01 1:400 From 1 pip 
Gold $2500 0.01 1:500 From 0.1 pip
VIP $10 000 0.01 1:200 From 0.1 pip
Islamic $1000 0.01 1:400 From 0.1 pip

 

Ridge Capital Markets (RDGCM) offers several account types, depending on the client’s initial deposit amount. In addition, swap-free account is available to clients of Islamic belief who are not willing to earn or pay interest for religious reasons. Micro tradeable lots are offered on all account types.

 

RDGCM claims to be a pure No-Dealing-Desk (NDD) brokerage, providing market execution with variable spreads and no commission fees.  Its offering seems attractive: spreads from 1 pips on EUR/USD, leverage up to 1:500, commission-free trading on two platforms – MetaTrader 4 and cTrader.

 

However, we could not try out RDGCM’s platforms and check out its trading conditions, since there are no demo accounts available, and we find that the minimum initial deposit of $500 is too high for a non-regulated broker.

 

The Company. Security of Funds

 

Founded in 2010, Ridge Capital Markets offers online trading in a wide range of financial assets, including FX, CFDs, Stocks, Fixed income, Futures, Commodity CFDs, ETFs, Options and other derivatives. Behind the brand is R.D. Group Limited, a company registered in Dominica with a representative office in London.

 

The Dominica has a wide range of offshore services and with the passing of the International Business Companies (IBC) Act in 1996 it has become an attractive location for offshore company formations. There are some international banking regulations to which all companies operating out of Dominica are bound, however, forex brokers are not regulated at this time.

 

To put it simply, if you choose to open an account with a non-regulated broker, your funds are not safe. So, if you intend to invest a large amount of money, we would advise you to select among brokers regulated by the respective authorities in UK, Cyprus or Australia, for example.

 

Furthermore, according to the famous forexpeacearmy site (FPA), there are two FPA Traders Court guilty votes against this company.  The FPA recommends a very high level of caution dealing with this broker until the issue is resolved.

 

Trading Platforms

 

Ridge Capital Markets offers its services on two of the most popular platforms among traders - MetaTrader 4 (MT4) and cTrader.

 

cTrader is an award-winning multi-asset trading platform designed especially for ECN trading. According to RDGCM’s website, spreads on this platform are not simply tight, but often inverse (at -0.3 pips) during the European and North American trading sessions.

 

The Ridge Capital Markets cTrader suite includes a PC, web and mobile versions, as well as cMirror and cAlgo. cMirror is a mirror & social trading application, which works with all cTrader accounts (including with other brokers). cAlgo, on the other hand, delivers powerful, fast and reliable automated trading in an easy to use, coding-friendly environment for developing and testing your own robots and custom indicators.

 

In addition, Ridge Capital Markets supports the popular trading platform MetaTrader 4, desktop and mobile versions available.

 

Promotions

Ridge Capital Markets offers welcome on deposit bonus of 50% up to $10,000. Keep in mind that 0.3 lots per $1 of bonus money have to be traded in order to withdrawn.

 

Methods of Payment

 

Clients of Ridge Capital Markets are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, WebMoney, China UnionPay & QIWI.

 

Conclusion

 

Ridge Capital Markets’ offerings seem attractive; however the broker is not regulated and may be a scam. To sum up the above:

 

 

Pros  Cons
ECN/STP execution model Not regulated, supposedly a scam

Commission-free trading, low ECN spreads

No Demo accounts

Choice of platforms, MT4 available  
High leverage levels offered  
Bonuses available  

            

Latest news about Ridge Capital Markets
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Traders` reviews for Ridge Capital Markets

Spread

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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