RedFinance Forex Broker

RedFinance Review SummaryRegistered Country/AreaUnited KingdomFounded Year2011Company NameShenanigans Consulting LTDRegulationUnregulatedMarket InstrumentsDerivatives, Equities, Fixed Income, Cash, Commodities, FXAccount TypesVIP, Classic, Standard, MiniMaximum LeverageVIP: 1:100, Classic: 1:80, Standard: 1:50, Mini: 1:30Spreads1-5 pips for major currency pairs, 10-20 pips for minor currency pairsMinimum DepositMini: $250, Standard: $5,000, Classic: $25,000, VIP: $50,000Trading PlatformsWeb Platform (desktop and mobile), Mobile App (iOS and Android)Customer SupportAddress: Suite 305, Griffith Corporate Center, Kingstown, P.O. Box 1510, St. Vincent and the GrenadinesEmail: compliance.eng@redfinance.capital Note: RedFinance's official website:https://redfinance.capital/ is currently inaccessible normally.Red Finance Information RedFinance, established in the United Kingdom in 2011, provides various market instruments, including derivatives such as interest rate swaps, currency swaps, credit default swaps, and equity swaps. It also offers equities, fixed income options, cash investments, commodities, and foreign exchange services. However, the company operates without regulation.Pros and ConsProsConsOffers 6 financial instrumentsUnregulated4 account typesLeverage up to 1:100Web and mobile trading platformsHigh minimum depositLow minimum deposit for some accountsIs RedFinance Legit? RedFinance operates without regulatory oversight. Its domain was registered on January 28, 2011, and is set to expire on January 28, 2025.What Can I Trade on RedFinance? RedFinance offers a total of six product categories: derivatives (including swaps and options), equities (common and preferred shares, ETFs), fixed income (government and corporate bonds), cash investments (money market instruments), commodities (energy, metals, and agricultural products), and foreign exchange (spot and forward FX).Tradable InstrumentsSupportedDerivatives✔Equities✔Fixed income✔Cash investments✔Commodities✔Foreign exchange✔Account Types RedFinance offers four types of live trading accounts, but does not provide demo or Islamic accounts. VIP: This account type is suitable for high-capital investors, providing a maximum leverage of 1:100 with a minimum deposit requirement of $50,000. Classic: Aimed at intermediate traders, the Classic account offers a maximum leverage of 1:80 and requires a minimum deposit of $25,000. Standard: This account is designed for regular traders, featuring a maximum leverage of 1:50 and a minimum deposit requirement of $5,000. Mini: The Mini account caters to beginner traders, offering a maximum leverage of 1:30 with a minimum deposit of $250.Account TypeMaximum LeverageMinimum DepositSuitable ForVIP1:100$50,000High-capital investorsClassic1:80$25,000Intermediate tradersStandard1:50$5,000Regular tradersMini1:30$250Beginner tradersLeverage RedFinance offers varying leverage levels: 1:100 for VIP accounts, 1:80 for Classic accounts, 1:50 for Standard accounts, and 1:30 for Mini accounts.RedFinance Spreads RedFinance spreads are typically 1-5 pips for major currency pairs and 10-20 pips for minor currency pairs. Commissions are flat fees of $0.09 per side for US equities and $0.01 per share for US ETFs.Deposit and Withdrawal RedFinance has a minimum deposit of $250, with deposits processed instantly via bank transfer. Withdrawals can be made through bank transfer or cryptocurrency, with a minimum withdrawal amount of $50. There are no fees for deposits or withdrawals.Trading Platforms RedFinance offers a trading platform compatible with Windows, web browsers, Android, macOS, and iOS, suitable for casual traders and professionals seeking flexibility.Trading PlatformSupportedAvailable DevicesSuitable forTradingweb Platform✔Windows, Web Browser, Android, MAC, iOSHigh-volume Traders, Scalpers, and RobotsMT4❌Mobile and Desktop（Windows & macOS）Beginner