ReturnsFX Review

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ReturnsFX has garnered significant attention in the forex trading community, primarily due to its controversial background and lack of regulation. This review synthesizes various sources to provide a comprehensive evaluation of ReturnsFX, focusing on user experiences, strengths and weaknesses, and expert opinions.
Summary:
ReturnsFX, formerly known as CappmoreFX, has been linked to a Ponzi scheme and has received a low trust rating from independent review platforms. The broker operates without regulatory oversight, raising concerns about fund safety and transparency. Key features include a wide range of trading instruments and high leverage options, but these come with significant risks.
Note:
It's essential to highlight that the regulatory landscape varies across regions, and ReturnsFX's unregulated status poses risks for potential investors. This review aims to provide a fair and accurate assessment based on various sources.
Category | Rating (Out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 4 |
Customer Service and Support | 3 |
Trading Experience | 4 |
Trustworthiness | 1 |
User Experience | 2 |
How We Rate Brokers:
Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding the broker's operations.
Founded in 2023, ReturnsFX is headquartered in China and operates as a forex broker without any recognized regulatory oversight. The broker offers access to a wide range of financial instruments, including forex, cryptocurrencies, indices, stocks, energy, and commodities. ReturnsFX supports popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), appealing to traders who prefer established trading software. However, the lack of regulation raises significant concerns regarding the safety of client funds and the broker's overall transparency.
Regulated Regions:
ReturnsFX is not regulated by any recognized financial authority, which is a major red flag for potential investors. The absence of oversight means that the broker is not subject to the stringent compliance standards that regulated brokers must adhere to.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker supports various deposit and withdrawal methods, including bank wire transfers, credit/debit cards, and popular e-wallets. However, the specific currencies accepted for transactions are not clearly outlined in the available sources.
Minimum Deposit:
While the minimum deposit requirement is not explicitly stated, some reports suggest it may be relatively low, making it accessible for beginner traders.
Bonuses/Promotions:
ReturnsFX offers a bonus program that includes various welcome offers aimed at enhancing the trading experience. However, the specifics of these promotions and the eligibility criteria are not detailed in the available sources.
Tradable Asset Classes:
The broker provides access to a diverse range of asset classes, including forex, cryptocurrencies, indices, stocks, energy, and commodities. This extensive portfolio caters to various trading strategies and preferences.
Cost (Spreads, Fees, Commissions):
ReturnsFX implements a fee structure that includes spreads starting from 1.5 pips for forex trading, but these spreads may widen for exotic pairs. Commission rates vary depending on the account type, and traders are advised to review these details carefully.
Leverage:
The broker offers leverage of up to 1:500, which can amplify both potential profits and risks. While high leverage can attract traders, it also significantly increases the risk of substantial losses.
Allowed Trading Platforms:
ReturnsFX supports both MetaTrader 4 and MetaTrader 5, which are widely recognized for their user-friendly interfaces and advanced trading tools.
Restricted Regions:
The sources do not provide specific information on restricted regions, but traders should be cautious and verify if they can legally trade with ReturnsFX based on their location.
Available Customer Support Languages:
Customer support is primarily available in English, with the main contact method being email. However, the absence of a dedicated phone line or live chat raises concerns about the responsiveness and accessibility of support services.
Category | Rating (Out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 4 |
Customer Service and Support | 3 |
Trading Experience | 4 |
Trustworthiness | 1 |
User Experience | 2 |
Account Conditions (2/10):
The lack of transparency regarding minimum deposits and the absence of regulatory oversight significantly lower the appeal of ReturnsFX. Potential investors should be wary of the risks associated with unregulated accounts.
Tools and Resources (4/10):
While ReturnsFX offers access to popular trading platforms like MT4 and MT5, the educational resources available to traders are limited. Users may find it challenging to enhance their trading skills without comprehensive materials.
Customer Service and Support (3/10):
Customer support is primarily conducted through email, and the absence of a direct phone line or live chat could hinder timely assistance. User feedback indicates that response times may be slow.
Trading Experience (4/10):
The trading experience is facilitated by established platforms, but the high leverage and associated risks may not be suitable for all traders. The fee structure also lacks clarity, which can lead to unexpected costs.
Trustworthiness (1/10):
ReturnsFX's connection to the previously discredited broker CappmoreFX and its low trust ratings from independent review platforms raise significant concerns about its legitimacy. The lack of regulation further exacerbates these issues.
User Experience (2/10):
User experiences reported in various reviews highlight significant skepticism regarding the broker's practices. Many users express concerns about the safety of their funds and the overall transparency of the broker's operations.
In conclusion, while ReturnsFX offers a diverse range of trading instruments and high leverage options, the lack of regulation and transparency poses significant risks for potential investors. Traders are strongly advised to conduct thorough due diligence and consider the potential pitfalls before engaging with this broker.