de | cn | ru

RMT500 Review - is it scam or safe?

RMT500 review - Is rmt500.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz RMT500
RMT500 is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


RMT500 is an offshore broker, offering a nice selection of trading instruments with several trading account types, including an Islamic one, leverage of up to 1:100 and the MetaTrader4 platform. 

 

Account type Min. deposit Max. leverage Spreads
Bronze Account n/a 1:100 1,6 pips, floating
Silver Account n/a 1:100 2 pips
Gold Account n/a 1:100 1,5 pips

 

And although on first sight their offer might look attractive, take a note that RMT500 is not a regulated broker, and what is worse they already appear in the warnings list of the Italian financial regulator for possibly running a scam. So if you are considering depositing any funds with them be sure to read the following review.

 

RMT500 Advantages:

 

In the beginning of our reviews we always try to come up with all possible advantages a broker might offer its clients and here with RMT500 the potential benefits might be the nice selection of trading instruments and the presence of the MetTrader4.

 

A comprehensive selection of forex pairs and other CFDs

 

Starting with the list of trading instruments, when we checked the RMT500 trading platform with a demo account, we came across 45 currency pairs, some of which minor or exotic like USDCLP, USDCZK, USDCNH, USDHUF, USDMXN, USDNOK, USDPLN, USDSEK, USDTRY, USDSGD and USDZAR, as well as plenty of other CFDs – on silver, gold, natural gas, oil, aluminum, cocoa, coffee, cotton, nickel, soybean, sugar, wheat, zinc, 14 indices, stocks and even crypto coins like Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Ethereum Classic, IOTA, Litecoin, NEO, Tron, Monero, Ripple and Zcash. Still, if you enjoy the idea of trading the crypto markets, we may also suggest that you check our list of regulated brokers, offering bitcoin CFDs:

 

 >>Bitcoin Forex Brokers<<

 

MetaTarader4 supported

 

As we noted, the presence of MetaTrader4 is always welcome. This is a highly reliable trading platform, featuring numerous integrated market indicators and trading robots, with the help of which one can easily run algorithmic trading sessions. On top of that the platform comes with an excellent set of advanced charting tools, so here you may check our list of brokers, supporting the MT4 as well:

 

>>MT4 Brokers<<

 

RMT500 Disadvantages:

 

No license. Blacklisted by CONSOB

 

As we already noted RMT500 is an offshore broker, but that is not a problem by itself -  their company - RMT 500 Ltd is based on the Marshall Islands.

 

The problem, however, is that RMT 500 is not regulated by any official financial institution like for example the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or perhaps the Australian Securities and Investments Commission (ASIC) and that means RMT 500 is totally unaccountable for the way it handles customers money.

 

And what is worse RMT 500 has already been flagged by the Italian financial regulator – CONSOB as potential scam broker. See for yourself:

 

 

 

Trading bonuses with unusual withdraw conditions

 

The practice of offering trading bonuses is highly controversial in general, because all trading bonuses invariably come with some additional withdraw conditions, which quite too often scammers use as a pretext to cancel you withdraw requests. Here the situation with RMT500 as you can see is not different:

 

 

And what is even worse,  RMT500 reserves the right to change their bonus policy, whenever they feel like to, so you should not be surprised if you can never reach their minimum trade volume requirement:

 

 

Skrill not accepted as a payment method

 

On its homepage RMT500 displays the logos of various e-wallets, including WebMoney CashU, Neteller and Skrill. When we proceeded with our registration however, it turned out the only payment methods available are bank wire transfers and credit cards like VISA and MasterCard. And the absence of Skrill is notable because of Skrill's new anti -scam policy. According it Skrill partners only with legit and properly licensed brokers and as we already discussed  RMT500 is not a regulated broker. Besides, here you may check as well our list of brokers, which do work with Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

RMT500 is a unregulated, offshore broker that has been blacklisted by the financial regulator in Italy for targeting EU customers without proper authorization and possibly running a scam. The fact that they are not regulated, however, should be enough to keep you away. Be sure to trade only with properly regulated brokers, like the once, licensed and authorized by the FCA in the UK, CySEC in Cyprus or ASIC in Australia.  Here for example you may check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

Latest news about RMT500
No news about RMT500. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for RMT500

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru