REALFX Forex Broker

AspectDetailsCompany NameREALFXRegistered Country/AreaHong KongFounded year5-10 years agoRegulationUnregulatedMarket InstrumentsForex, Commodities, CFDsAccount TypesStandard, ECNMinimum Deposit$100 (Standard account)Maximum LeverageUp to 1:500SpreadsNo spread charged, commission of $8 per lotTrading PlatformsMetaTrader 4 (MT4)Customer SupportPhone +44 203 868 8017, +44 203 868 8017, Email support@trealfx.comOverview of REALFX REALFX, founded in Hong Kong 5-10 years ago, operates without regulatory oversight, exposing traders to heightened risks. It offers Forex, commodities, and CFDs with high leverage up to 1:500, promising significant profit potential but also amplifying potential losses. The platform's use of MetaTrader 4 provides familiar tools for trading, yet its official website's inaccessibility and limited transparency on payment methods raise risks. Traders face challenges with withdrawals, encountering delays and stringent conditions, which, combined with allegations of unethical practices, underscore the platform's questionable reputation and the importance of cautious consideration before engaging with REALFX.Regulatory Status REALFX operates without regulatory oversight. This lack of regulation means there are no established standards or protections typically provided by regulatory authorities. Traders using REALFX should consider carefully as there is no external oversight to ensure fair practices or resolve disputes, potentially exposing them to higher risks associated with unregulated platforms.Pros and ConsProsConsOffers various financial instrumentsLack of regulatory oversightTwo account types availableOfficial website inaccessibleHigh leverage up to 1:500Limited transparency on payment methodsUses popular MT4 trading platformComplaints about withdrawal difficultiesAllegations of unethical practices Pros:Offers various financial instruments: REALFX provides traders with a range of financial instruments including Forex currency pairs, commodities like gold and oil, and Contracts for Difference (CFDs). This diversity allows traders to access different markets and potentially diversify their investment portfolios.Two account types available: Traders have the option to choose between Standard and ECN (Electronic Communication Network) accounts. Standard accounts typically have lower spreads and minimal commission fees, whereas ECN accounts offer direct market access with variable spreads and a commission per trade.High leverage up to 1:500: REALFX offers high leverage levels of up to 1:500 for trading. High leverage allows traders to control larger positions with a smaller amount of capital, potentially amplifying profits. However, it also increases the risk of significant losses if trades move against expectations.Uses popular MT4 trading platform: The platform supports MetaTrader 4 (MT4), a widely used and trusted trading platform known for its user-friendly interface, extensive charting capabilities, automated trading options through Expert Advisors (EAs), and compatibility with various third-party plugins and tools. Cons:Lack of regulatory oversight: REALFX operates without regulatory supervision, which means there are no established standards or protections typically provided by regulatory authorities. This lack of oversight can expose traders to higher risks, such as potential fraud or unfair trading practices, without recourse to regulatory intervention.Official website inaccessible: Users report issues accessing the REALFX official website, which can hinder transparency and access to essential information about the platform's services, terms, and conditions. This lack of accessibility raises risks about the platform's reliability and trustworthiness.Limited transparency on payment methods: REALFX lacks clear and detailed information about supported payment methods for deposits and withdrawals. This lack of transparency can lead to uncertainties and inconvenience for traders regarding how they can fund their accounts or withdraw their profits.Complaints about withdrawal difficulties: There are user complaints about difficulties in withdrawing funds from REALFX accounts. These issues include delays in processing withdrawals, stringent conditions for withdrawing profits, and allegations of requiring multiple profitable trades before allowing withdrawals, which can frustrate traders and undermine trust in the platform.Allegations of unethical practices: Some users have raised allegations of unethical practices against REALFX, including risks about operating like a pyramid scheme, misleading trading conditions, and other questionable practices that can harm traders' interests and financial well-being.Market Instruments Tech RealFX offers investors access to some financial instruments, including Forex currency pairs, commodities, metals, and CFDs.Account Types Tech RealFX offers investors two different types of accounts, namely Standard and ECN accounts. The minimum deposit requirement for a standard account is $100, while the minimum deposit requirement for an ECN account is unknown.Leverage Tech RealFX offers high leverage levels, reaching 1:500. Such leverage ratios enable traders to make striking profits when the markets move in their favor. However, the opposite is also possible.Spreads &Commissions Standard users on the Tech RealFX platform are only charged a certain spread as commission, while ECN accounts are charged a commission of $8 per lot in addition to a lower spread.Trading Platform To trade with Tech RealFX, traders have access to the most popular MT4 trading platform on the market today. MT4 is user-friendly, easy to use, contains multiple options, different order types, a large number of charting and analysis tools, and a selection of third-party applications that are compatible with it. Additionally, the MT4 trading platform is also popular for its ability to use expert advisors for automated trading and support for hedging models.Deposit & Withdrawal Payment methods supported are not fully disclosed on the Tech RealFX official website. However, what has to mention is that withdrawal amount less than $200 cannot be done according to this broker.Customer Support REALFX offers customer support via phone and email. For English support, contact +44 203 868 8017. For Traditional Chinese (HK), dial +44 203 868 8017. Email inquiries can be sent to support@trealfx.com.Exposure The user's exposure regarding REALFX highlights serious risks about the platform's integrity and user experience. Complaints include accusations of operating like a pyramid scheme, difficulties withdrawing funds, and questionable trading practices such as requiring multiple profitable trades before allowing withdrawals. Such issues indicate a lack of transparency and potentially unethical behavior, impacting trust and risking financial losses for traders.Conclusion REALFX is a platform offering a variety of financial instruments such as Forex, commodities, and CFDs, leveraging up to 1:500 for potentially high returns. However, its lack of regulatory oversight from any financial authority raises significant risks about investor protection and operational transparency. The platform's inaccessible official website and limited disclosure on payment methods add to the opacity, potentially leading to trust issues among traders. Complaints about withdrawal difficulties and allegations of unethical practices further tarnish REALFX's reputation, highlighting the risks associated with trading on unregulated platforms.FAQ What financial instruments can I trade on REALFX？ REALFX offers Forex currency pairs, commodities like gold and oil, and Contracts for Difference (CFDs). Is REALFX regulated by any financial authority？ No, REALFX operates without regulatory oversight. What are the account types available on REALFX？ You can choose between Standard and ECN (Electronic Communication Network) accounts. What is the minimum deposit required to open a Standard account on REALFX？ The minimum deposit for a Standard account is $100. Does REALFX support the MetaTrader 4 trading platform？ Yes, REALFX uses the popular MetaTrader 4 (MT4) platform for trading.Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.