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RIMarkets Forex and Cryptocurrency Broker Review

  1. Launched in April 2018, RIMarkets is a non-regulated Forex and Cryptocurrency broker, providing a trading platform with zero % commission, in English and German. The company offers live accounts from $250, and trading on more than 350 instruments spanning Forex, cryptocurrencies, indices, commodities and stocks, on the popular MT4 Forex trading platforms.

    RIMarkets is operated by Fcorp Services Ltd, registered in the Marshall Islands under number 95389. The company’s registered address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Island, MH 96960.

  2. Clients can select from three trading account types, Silver, Gold and Platinum. Whilst we were informed that the minimum deposit required to open an account is $250, the exact opening balance for each account type, is not openly published on the website. To find out the required investment for each account type, clients need to contact RIMarkets directly from the contact page. Furthermore, pip spreads and leverage ratios are determined by the trading account type. To get an impression of the fixed spreads offered by RIMarkets, we looked at the EUR/USD across all account types. We found the spreads relatively high at 3.0 pips for the Silver account, 2.5 pips for the Gold account, and 2.0 pips for the Platinum account. Moreover, leverage for FX trading is capped at 1:200 on the Silver account, 1:400 on the Gold account and 1:500 on the Platinum account. Leverage on commodities, indices, shares and metals varies according to account and asset type, between 1:20 and 1:125. RIMarkets does not provide education opportunities on the website. However, the MT4 platform has an extensive user guide incorporated into the software, taking traders through every aspect of the online trading system.

    RIMarkets Silver Account Services

    • 24/5 support
    • Islamic account available on request
    • Trading with the fifth decimal
    • Hedging permitted
    • Withdrawals processed within 5 days

     

    RIMarkets Gold Account Services

    • 24/5 support
    • Dedicated account manager
    • Webinars and videos
    • 25% discount on swaps
    • Islamic account available on request
    • Trading with the fifth decimal
    • Hedging permitted
    • Withdrawal process takes up to 5 days

     

    RIMarkets Platinum Account Services

    • Dedicated account manager
    • Free VPS
    • 24/5 support
    • News alert
    • Hedging permitted
    • Trading with the fifth decimal
    • Webinars and videos
    • 50% discount on swaps
    • Islamic account available on request

     

    RIMarkets Award Program

    RIMarkets operates an ‘Award’ program offering financial awards and tailor-made bonuses to program members. Importantly, the awards are meant for adding value to trading accounts, by giving clients a boost in funds for trading purposes. Importantly, clients are not obliged to accept any awards, but if they do so, they are subject to strict bonus terms and conditions. These include executing a trading volume of $10,000 or currency equivalent, for every dollar of award or bonus money received, before withdrawing the bonus amount.

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  5. Customers at RIMarkets are provided with the MT4, the popular platform for Forex, futures and CFD trading on desktop as well as the RIMarkets WebTrader and the RIMarkets mobile app. Tradeable assets on the RIMarkets trading platforms include 50 forex currency pairs, cryptocurrency pairs, stocks, indices and commodities.

    MT4 Desktop Platform Features

    The RIMarkets MT4 platform is a powerful trading system incorporating all the leading trading and analytical technologies needed for Forex trading. Whilst the MT4 software client must be downloaded to the desktop, it has enhanced security built into the system, and takes up few resources on the PC, allowing the platform to react faster. Importantly, the MetaTrader4 has a user-friendly interface, ideal for novice and skilled traders, and provides secure, stable trading. Major features of the MT4 include:

    • 30 built-in indicators and charting tools, as well as 24 graphic objects, allowing fast and accurate analysis of price movements in 9 time frames.
    • Expert Advisors and custom-designed indicators supporting automated trading.
    • Simplified entry of orders using dynamic trading tools. These include market and pending orders, stop orders and trailing stop, tick chart and trading history, trading from a chart and instant execution.
    • Trading signals and copy trading with thousands of providers.

     

    RIMarkets WebTrader Platform Features

    The RIMarkets WebTrader is accessible in one click from any internet connected device. Importantly, it enables Forex trading from any browser and operating system including Mac, Linux and Windows, without software download. The easy to use WebTrader, offers state-of-the-art features including:

    • Real time financial updates, live analysis and charts.
    • Visual aides clearly showing market trends.
    • Trading cubes with prices, assets and lot sizes, for faster trading.
    • Free Demo account for risk-free practice trading.

     

    RIMarkets Mobile Trading App Features

    The dedicated RIMarkets mobile trading app has a simple, user-friendly interface making it very convenient for all traders. Features include:

    • Versatile Asset list.
    • Advanced investment tools.
    • Placement of orders and positions.
    • Execution of trades and monitoring of trading accounts on the move.
    • Daily market reviews and expert analysis.
    • Major graph movements.
    • For iOS phones and tablets, available from the APP Store.
    • For Android phones and tablets, available from Google Play.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  7. RIMarkets doesn’t provide a FAQs page, which is unfortunate, as it’s the first place to look for fast information about the broker’s services. Nevertheless, clients can reach RIMarkets 24/5, using the live chat service on the interface, by phone, email and the contact form, submitted directly from the contact page. Enquiries about compliance documents, need to be sent to the dedicated email address given on the contact page. Phone numbers currently listed for calling the support team are:

    • UK +44 2039364555
    • ZA +27 445180500
    • AUS +61 288805855
    • RU +74 999712340

     

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  9. Customers can fund their trading accounts in USD, EUR or GBP, using credit/debit cards, e-Wallets and bank wire transfer. It’s important to provide the necessary KYC documents to RIMarkets before trading can begin. Customers must provide a coloured, scanned copy of an official ID document and a utility bill not older than 6 months old, to prove residence. The minimum withdrawal amount is set at $£€5 for Skrill withdrawals, $£€100 to credit cards, $£€100 for bank wire transfer outside the EU and $£€20 within the EU. Withdrawal requests are processed within 5 days, after phoning or emailing the client to validate the request. We were pleased to see that fees are not charged on withdrawals. Moreover, in compliance with international anti-money laundering regulations, withdrawals are paid to the same payment method used to deposit. Importantly, RIMarkets maintains accounts with trusted banking institutions and keeps clients’ funds segregated from corporate operating accounts.

    Payment services are provided to Fcorp Services Ltd, by InterCh Globe SIA, registered in Latvia with company number 40203140600 at Riga, Krisjana Valdemara iela 21-10, LV-1010.  

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    11. Your capital is at risk

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