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RIMarkets Review - is it scam or safe?

RIMarkets Review - Is rimarkets.com scam or good forex broker?

RATING: 1.4 / 24 REVIEWS RIMarkets
RIMarkets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


RIMarkets  is a forex and CFD broker offering a wide variety of trading instruments, including some exotic forex pairs, crypto currencies, commodities, indices and stocks. In case you are about to open an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Silver Account n/a 1:200 3 pips
Gold Account n/a 1:400 2,5 pips
Platinum Account n/a 1:500 2 pips

 

RIMarkets Advantages:
 

Variety of exotic currencies and crypto CFDs

 

When tested with a Demo Account the RIMarkets trading platform offered us some 49 forex pairs, including exotic currencies, such as Israeli Shekel, Indian Rupee, Turkish Lira, Singapore Dollar,  Swedish Krona, South African Rand,  Russian Rubla, Polish Zloty, Norwegian Krone, Mexican Peso, Hong Kong Dollar, Hungarian Forint, and Danish Krone. 

 

Besides, the broker also offers CFDs on spot metals - gold, silver, palladium, platinum and copper, commodities like sugar, wheat, soybean, corn, coffee, cocoa, orange juice and cotton, indices, stocks, oil, natural gas and an array of crypto currencies like Monero, Peercoin, Bitcoin Gold, Bitcoin, Ripple, Litecoin, Dash,  Ethereum Classic, Bitcoin Cash and Ethereum.

 

Generous leverage

 

The maximum leverage RIMarkets offers with a Platinum Account is 1:500, with a Gold Account – 1:400 and with a Silver Account  - 1:200 and that seems a bit counterintuitive as brokers usually offer higher leverage with their starting accounts, and more conservative leverage with their premium accounts, where investors trade higher volumes.

 

Have in mind that expert traders rarely use leverage higher than 1:100, because at such levels you can loose your money much faster and even end up with a negative balance.

 

MetaTrader 4 available

 

MetaTrader 4 has been acclaimed as an industry standard for the better part of the past decade. The platform has intuitive interface, good charting capabilities, more than 50 in-build market indicators and an option to run automated trading sessions with the help of customizable trading bots – Expert Advisors, which you can even compile by your self on a specially designed scripting language – the MQL4. No wonder more than 80% of all traders use MT4 on a daily basis. Here you can check our list of brokers also offering MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Islamic Account offered

 

RIMarkets offers an Islamic account, which is especially designed for Muslim traders, who under the Sharia Law are forbidden to take or receive interest. With an Islamic account you do not pay interest on positions left open overnight, but you pay instead with a commission, fee or higher spreads. Here you can check our list of brokers also offering Islamic, swap-free accounts:

 

>>Islamic Forex Broker<<

 

RIMarkets Disadvantages:

 

Lack of regulation

 

RIMarkets  is owned and operated by Fcorp services Ltd, which is registered on the Marshall Islands. The broker is not regulated and that significantly lowers its reputation. Have in mind that most unregulated brokers are involved in scam and investors should be extra cautious when depositing funds with such entities.

 

By definition traders can feel secure about their investment only with brokers, regulated by respected financial authorities such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

 

Licensed brokers have to abide by strict fiscal rules - to maintain a certain level of operational capital and to separate all clients funds in a segregated, protected form creditors account. In some cases brokers are even obliged to insure traders money.

 

FCA and CySEC brokers for example have to participate in client compensation schemes. Under the FCA backed Financial Services Compensation Scheme, in case their broker goes insolvent, traders can receive back up to 50 000 GBP of their capital, while under a similar mechanism, traders with CySEC brokers can receive back up to 20 000 EUR. Here you can check our list of brokers licensed by the FCA:

 

>>FCA Regulated Forex Brokers<<

 

Mismatch between the spreads as advertised and as tested

 

When tested with a Demo Account the EURUSD spread reached between 0,1 and 0,5 pips and no commission was taken. Such spreads are considered among the best you can get on the market. What puzzles us, however, is that spreads as advertised on RIMarkets website are much higher – starting at 3 pips with the Silver Account, 2,5 pips with the Gold Account and 2 pips with the Platinum Account. 

 

So basically we are not sure what the trading conditions with RIMarkets really are. Do not worry, here you may check our list of brokers, offering really tight spreads:

 

>> Lowest spread forex brokers<<

 

No information about the minimum deposit requirement

 

With most brokers you can open an account with a 100 USD, while with some well established ones such as XMFXTM and IG you can start trading with just 5 USD or even less. Unfortunately there is no information about the minimum deposit requirement on the RIMarkets website.

 

No e-wallets available as a payment method

 

With most forex brokers you can deposit or withdrawal funds with popular e-wallets such as PayPal, Skrill and Neteller and some brokers take even Bitcoins. 

 

With RIMarkets you do not have such options. The only way to deposit or withdraw funds is with a bank wire or some major credit or debit card like Visa.

 

Here you may check our list of brokers, accepting Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

As an offshore broker RIMarkets has low credibility and that is unfortunate as they offer a good variety of trading instruments, including some crypto CFDs. Still, as we already mentioned, investing with unregulated companies comes with a significant risk, so our advise is to check the spreads of brokers licensed by FCA, CySEC or ASIC.

 

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Traders` reviews for RIMarkets

Spread

Pros

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Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scammm

How to stop them to call me every day? Anybody has any idea? I am blocking the phone numbers but it's like never ending story.... Asked the guy to close my account what I never used but he said he can't... I told him to remove my phone number from the system he said he can't... and he just said they will keep calling me from different numbers...Bastards!!!!!

Erica 05/23/2019

What to do now?

I deposited £250 with RI Markets yesterday and after a lengthy session on the phone this morning the account in my name in which the money has been placed
has not yet been activated as a passcode the sent to my cell phone did not arrive despite a number of resends. The money has not yet been debited to my account and is still pending according to my bank. They say the cannot refund me as I had authorised the withdrawal.
I see on this web site that this is a Nigerian scam. How can I get my money back. I cannot access the account to even try and make a withdrawal. The Assistant broker named niger will be calling again tomorrow. Can you advise me what to do now

Brian john Nutt 05/23/2019

Never again with these people

Traded, got told was wasting their time unless I deposited more money. Withdrew what I could but have been consistently refused my earnings. I believe that RW markets FTO capital and various others all suffer from the same style.
I like nice offices
Holden House 57 Rathbone place on the fourth floor and also try Wilton place Dublin.

David McGregor 05/20/2019

Remorseless scammers

Traded and lost amount.
Realised it was scam all round but too late though.
Despite leaving messages with reception can't reach any of them in London Canary Wharfs E1 4SU
They are not replying at all.
Surely they should not be allowed to trade after all these complaints about them... need lining up and shot the rotten fcukers!!!

RaJ 05/20/2019

Avoid like the plague

I agree with everyone else - these people are scammers! Got their details from what I now have realised was a fake news article.
They also ring me in the middle of the night from London. As I have a sick grandson I can't turn my phone to silent - so there goes my night's sleep
aaagghhhh

Rebecca 05/17/2019

RIMarkets withdrawal issues

The platform seems legit enough for a unregistered broker, easy enough to deposit money (funny enough) but withdrawal on the other hand is a complete nightmare.

If you are stupid enough to not only give the Nigerian scammers your bank details but also full complies of your ID you will be completely robbed.

I only deposited the min amount onto the platform to just test out the withdrawal process (before coming along these reviews) after finding these reviews I've attempted to withdrawal my money, which RI say they need full copies of driving license or passport, copies of front and back of credit card and letter of house hold Bills.
I've refused for obvious reasons.

Whilst payment was pending in my account it was saying it was going to fcorps Lt, but when payment had cleared it had actually gone to an account in Nigeria.

Also through the hundreds of spam emails they sent they try to get you to sign a document (they dont tell you what it is) but a bit of research into it your actually signing a credit card request that they have taken out in your name DO NOT click the link.

Stay well clear, and go through a reputable broker.


I was happy to take the loss but I can see how someone could end up but in their life savings.

The website seems legit enough and the demo accounts show great rewards

But total scam, keep your money away from them, they need shutting down.

Frank 05/10/2019

Scammers

Total scammers stay clear

Bob 05/08/2019

It's a scam, stay away!

They took my money and then I could not get back into the account! Apparently they sent me a new password but it never arrived and I have tried over and over.

Nico 05/03/2019

How can I get them to stop!!!

I put my name and phone number in yo see what this platform was all about after what I’ve now discovered was a very good fake article on Facebook. They have not stopped calling me since with numbers in the UK, Germany, South Africa and Australia. I have only answered twice as they can also call on private numbers. Have asked them to stop calling but they said I need to provide a reason and they can only stop calling me if I make a deposit! What a joke. I laughed and hung up. They then called back from 3 different numbers and then private. I blocked every single one. I have also emailed them and told them to stop calling me and they said they can’t as I put my details in! What a joke!!

Emma 04/30/2019

Overnight I just lost all

Oh How I wish I had found these reviews of this rotten scumbag company before I invested $500 au yesterday, overnight I just lost all but $28 usd on total mis-information . Cant wait for them to ring again, they will get the most abuse they ever got in their lifetime ! Fucking Scum !

John Blackberry 04/27/2019

scam

I invested the minimum amount with RI Markets but changed my mind before my account was verified and asked for repayment of my money. They have said that they have no mechanism for repayment because I have not finished setting up my account. If they took my money, they must have a mechanism for repaying it. They are scammers.

Patricia Wiltshire 04/07/2019

terrible company to deal with

don't open an account with rimarkets they ring you constantly, i got contacted 40 times within first 2 days, they harrass you....

james ob 04/03/2019

Withdrew money without my written consent

I had not signed the a written agreement/contract that had been sent to me.
RIMarkerts withdrew money from my account without written permission.
They will return my money.
SCAM run by scammers.
My part did notdo due diligence.
They withdrew the sum from an account in LAGOS.

DAVID FALLON 03/27/2019

A scam & a fraud!!

RI markets MUST be investigated immediately. I have waited for over a week for my withdrawl of £500.00, and despite numerous requests to their service desks, they keep closing my ticket request with NO reply, and I am still waiting for my money. How can a company like this be allowed to operate the world over, in today's strict regulated society? They constantly phoned me to make trades, bombarded, harassed me and bullied me. They even called me a liar when I asked for my money back as to the reason why? Surely some government or organisation can investigate them and close them down, if deemed neccessary, before more people lose their money!!!

Michael Stein 03/21/2019

Very upset

There is absolutely no communication or guidance and feels like I've been scammed

ozcan mehmet 02/23/2019

Steer well clear

This company has called me repeatedly from around 8:15am wanting to help me finalise my account set up. Even when told I would call them back they repeatedly ring anyway.

This afternoon I told an African girl from their office to stop calling me and she refused, saying that I had not given her a 'good enough reason' to stop calling me! When I put the phone down she rang again!!!

I would never recommend this company to anyone, in fact I would recommend the opposite, that any investor should steer well clear of them!

Royston Seeney.

Royston Seeney 02/07/2019

Fcorpservices ltd

I was charged for not trading.

goonum narsigan 01/17/2019

Pathetic, sad scammers.

I didn't give them any money. They had personal details scraped off LinkedIn and tried to claim that I'd signed up: so, lying from the start. Lots of fishing for other personal details. Company is staffed by sociopaths and malign narcissists with extremely deficient personalities.

They also threatened they'd ring back, but good luck with that.

David Smith 12/29/2018

RIMarkets - Worse scammers ever

Signed up to RIMARKETS after seeing a link on social media, seemed genuine. After depositing $250 the calls have started, they called me approx 20times a day requesting more personal details. The way their talk to me wasn't very professional, calling me beautiful and all ive decided to get my founds out and don't go ahead with it. They started calling more, being very forceful, aggressive and rude not allowing me to talj and take my money out! And im very strong headed person!still fighting for my money and they're still calling but just to everyone know theyre scammers, not registered brokers and your experience with them will be only sour.

Katarzyna Holzer 12/20/2018

RI market cheat

I was call by alady and ask me deposit $200. After deposit this amount the account manager assit me for 1 week and seems the are NFP so I need to top up $500 usd. then he said I need to top $350usd to get more profit in oneday.There ask me to borrow from friends and relative. But I said I cant.The total money I deposit is $1050usd. After my trading become more negative I call to customer suport and the account manger .They never respond. They never even reply my mail. Plsdon trust this RI Market. They gain money by cheating poor people. And now I have balance 250usd but I cannot withdraw as they dont want to assit me.

jayaletchmi thangiah 10/11/2018

Scam

Lady named Mary Cotril ask me to Invest 250 USD. Gave me a lot of information make me decide to Invest, she said within 24 to 48 hours my Account manager will call me! Until now havent receive any phone calls, please give my money back Fuc*ing scammer Mary Cotril!!!!!!!!!

Mark 09/04/2018

RIMarkets Scam

I have invested USD 200 to start an account with Rimarkets. Immediately I received a call from a so called Account Manager. After introduction they keep on pestering to add more funds to your account. Even when I told them that I don't have more. I add another USD 1,000. Intially some profit making, but after few days all gone. Don't trust them anymore. I think it is more like a scam...

Chanthirasegar Balakrishnan 08/07/2018

Wrong advertising and bad customer service

I was happy to learn about trading, I also indicated I am a first trader and only have $200 to trade with, well the company does say they need $200 to start trading. When I finished all the registration process I was called by a lady who told me I have to put more money to that account as this is little money to trade with, I was surprised to even learn that as I was told the company needs $200 deposit to start trading, but the lady wanted $1000. I also indicated that I dont get much money from my salary that is why I cant afford more deposits. I lost close to $100 on my trading and the lady tols me she cant trade with less money that is why she needs more money. When I told her I dont have money she told me that means I went to loose my whole deposit because I dont want to deposit money. Imagine someone threatening me that I will continue loosing this money if I do not deposit more. The money I deposited was all I had, if the company was not willing to help me trade it should have told me before I even invested my money with it. The attitude of that lade was so rude that she told me she deals with big accounts so she has them to focus on. I was told to even open my own trades without assistance and told me I can communicate with her via email. If this is how you help first time traders who do not have much money to invest then why do you allow them to as big accounts mean most to you that us who deposit little. You make the rich richer and the poor poorer so I dont see how you help people. You just care about making money for your selfs.

Matshediso 06/21/2018

RIMarkets Withdrawal

I opened an account with RIMarkets a week ago, and paid USD200. I have changed my mind and have requested a withdrawal, but I can get no feedback from them. Stupid mistake that I've made, but one learns a lesson like that!

LC 06/12/2018
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