Ruizean Forex Broker

Note: Ruizean's official website - https://ruizean.com/ is currently inaccessible normally.Ruizean Review SummaryFounded2014Registered Country/RegionAustraliaRegulationASIC (Revoked/Suspicious Clone)Market InstrumentsForex, CFDsDemo Account✅LeverageUp to 1:400EUR/USD SpreadFloating around 0.1 pipsTrading PlatformMetaTrader 4Min Deposit$200Customer SupportTel: +61 2 9017 5200Email: info@ruizean.comFacebook: https://www.facebook.com/pages/Ruizean-Pty-Ltd/1044115708938452 Ruizean was registered in Australia in 2014, offering trading in Forex and CFDs with leverage up to 1:400 and spread floating around 0.1 pips on the Standard account via the MT4 platform. Demo accounts are available and the minimum deposit requirement to open a live account is as high as 200 USD. Besides, their ASIC license is a suspicious clone.Pros and ConsPros Cons Support demo accountUnavailable websiteCommission-free account offeredRegulatory issuesLow spreadsHigh minimum depositSupport MT4Limited payment optionsIs Ruizean Legit? No, Ruizean currently has no valid regulations. It only holds revoked and suspicious clone ASIC licenses.What Can I Trade on Ruizean?Tradable Instruments Supported Forex✔CFDs✔Bonds❌Options❌ETFs❌Account Type/FeesAccount TypeMin DepositSpreadCommissionStandard$200From 1.8 pips❌ProFrom 0.1 pips$3.5 per lot for currency pairs only, no commission for transactions involving Metals or CFDsLeverage Ruizean offers leverage up to 1:400 for both account types, which can potentially bring high returns, but it also comes with high risks.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Ruizean primarily facilitates deposits via wire transfers, and the minimum initial deposit required to open an account with Ruizean is set at $200.