RH Trade Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.rhtradefx.com/en/index, the company's legitimate regulatory information to enhance the security of the company's address 96 WADSWORTH BLVD NUM 127-3255 LAKEWOOD, CO 80226 U.S.A.
RH Trade Forex Broker
Basic information
United States
Scam Brokers 2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Note: Regrettably, the official website of RH Trade, namely https://www.rhspanadefx.com/en/index, is currently experiencing functionality issues.
What is RH Trade？
RH Trade, a recently established trading platform, claims to be registered in the United States. Their customer support can only be reached via email at support@rhtradefx.com. However, it is important to note that their regulation by the NFA is considered suspicious and raises concerns about their legitimacy. Additionally, their official website is inaccessible.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
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Cons:
- NFA (Suspicious Clone): RH Trade being regulated by the NFA as a “Suspicious Clone” raises concerns about their legitimacy and adherence to industry standards.
- Reports of withdrawal issues: There have been reports from users about difficulties in withdrawing funds from RH Trade, which suggests potential problems with their financial operations.
- Lack of industry experience: RH Trade lacks a track record or established presence in the industry, making it difficult to assess their reliability and expertise.
- Inaccessible website: The fact that the RH Trade website is inaccessible raises doubts about their credibility and transparency.
- Limited communication channels: RH Trade only offers limited communication channels, with customer support available solely through email. This leads to delays or difficulties in resolving issues or obtaining assistance.
Is RH Trade Safe or Scam？
There are suspicions that this broker's claim of being regulated by the National Futures Association (NFA) with a license number of 0559070 may be a clone or fraudulent. It is important to exercise caution and be aware of the potential risks associated with dealing with this broker.
Additionally, the inaccessibility of their official website raises doubts about the trustworthiness of their trading platform. These factors contribute to an increased level of risk when investing in RH Trade. If you are considering investing with RH Trade, it is crucial to conduct thorough research and carefully evaluate the potential risks compared to the potential rewards before making any final decisions. In general, it is advisable to select brokers that are properly regulated to ensure the safety of your funds.
User Exposure on WikiFX
Our website has received reports of users being unable to withdraw funds from this broker. We advise traders to thoroughly review the available information and be aware of the risks involved in trading on an unregulated platform. Users are encouraged to check our platform for information before engaging in any trades. If you come across any fraudulent brokers or have been a victim of such, please report it to us in the Exposure section. Our team of experts will do everything in our power to assist you in resolving the issue.
Customer Service
Customers can get in touch with customer service line using the information provided below:
Email: support@rhtradefx.com
Conclusion
In conclusion, RH Trade is a trading platform that lacks transparency and credibility. It has been flagged as a “Suspicious Clone” by the NFA, calling into question its legitimacy. There have been reports of withdrawal issues, indicating potential problems with their financial operations.
Considering the above points, it is important to exercise extreme caution when dealing with RH Trade. The lack of regulation, reports of issues, and the inaccessible website are red flags that suggest potential risks for investors.
Frequently Asked Questions (FAQs)
| Q 1: | Is RH Trade regulated？ |
| A 1: | No. It has been verified that this broker currently has no valid regulation. |
| Q 2: | How can I contact the customer support team at RH Trade？ |
| A 2: | You can contact via email: support@rhtradefx.com. |
| Q 3: | Is RH Trade a good broker for beginners？ |
| A 3: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and reports of unable to withdraw. |
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.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Rating Index
RH Trade Similarly Rated Brokers
Latest Reviews
ichika
Japan
I started on October 16th and deposited a total of 300,000 yen. At the end of the year, there were suddenly no more transactions. And when I looked at the site at the beginning of the year, it was gone. I would like the remaining money refunded.
Exposure
2024-01-09
ばんじー
Japan
This is the second time that I have not been able to withdraw the approximately $10,600 remaining in my account. The first time was on November 9th when I was told that the system would not approve the withdrawal. The cause seems to be that I did not log in or make any transactions for about 10 days. When I asked what I should do, I was told that as long as I logged in and made transactions for 15 consecutive days, I would be fine. From the next day until December 10th, I logged in every day and traded on my own without any guidance. The condition should now be clear. I requested a withdrawal again. This time, they asked me to pay taxes and fees. Do I have to pay tax every time I withdraw money? When I asked what the tax rate was, that question disappeared and I was told that I couldn't come to work unless I paid a 5% tuition fee, and they wouldn't take care of the formalities. I've indeed been tutoring since November. I was told that I would receive 5% of the profits. However, I was told that I could not teach because my account balance was low. At that time, I had about $10,900 in my account. Mr. Ishibashi, who was guiding me, told me to contact him when my account balance reached $20,000. In other words, I was asked to make an additional deposit. I don't have that kind of money, so I couldn't make a deposit. I gave up on the instructions and went through the withdrawal process. What this company says changes every time. I think they don't want to withdraw money. By the way, I was told that the 5% instruction fee is 5% on total assets, not on profits.
Exposure
2023-12-14
Phylis
Hong Kong
RH Trade gets top marks for their withdrawal options and trading platforms! Quick, secure withdrawals and a sleek platform make trading a breeze.
Positive
2024-07-25