RIMC Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Software Index
License
VFSC Revoked 
The platform was appointed by the Shen Long team.Then the withdrawal is unavailable.It kept shirking in bad manner.
Rimc, or Rising International Management Company, has garnered attention in the forex trading community, but the reviews present a mixed bag of opinions. While some users appreciate the availability of the popular MetaTrader 4 platform, many others express serious concerns about the broker's regulatory status and overall trustworthiness. Notably, Rimc's claims of regulation by reputable authorities seem questionable, raising red flags for potential investors.
Note: It is crucial to recognize that Rimc operates under different entities across regions, which may impact the level of service and regulatory oversight. Our assessment aims to provide a fair and accurate overview based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 4 |
We rate brokers based on a comprehensive analysis of user experiences, expert opinions, and factual data.
Founded in 2017, Rimc is a forex broker registered in Vanuatu, providing trading options primarily through the MetaTrader 4 platform. The broker offers a limited selection of trading instruments, including 28 currency pairs and a few commodities. However, it lacks a robust regulatory framework, with claims of being regulated by entities such as the UKs Financial Conduct Authority (FCA) and the US National Futures Association (NFA) being largely unsubstantiated. Instead, it appears to be primarily registered offshore, which raises concerns about investor protection and fund safety.
Rimc claims to be regulated by several financial authorities, but investigations reveal that it is only registered with the Vanuatu Financial Services Commission (VFSC). There are no records supporting its claims of regulation by the FCA or NFA, leading to skepticism about the broker's legitimacy. Furthermore, the Hong Kong Securities and Futures Commission has included Rimc in its alert list, indicating potential risks for investors (source).
Rimc does not specify a minimum deposit requirement on its website, which is a common practice among less reputable brokers. Users have reported difficulties when attempting to withdraw funds, which is a significant concern for potential investors. The lack of transparency regarding deposit and withdrawal methods further complicates the situation.
There is no clear information regarding bonuses or promotional offers from Rimc. This could indicate a lack of competitive incentives to attract new traders, which is often a red flag for potential clients.
Traders can access a limited range of assets, primarily focusing on 28 currency pairs and a few commodities. Notably absent are contracts for difference (CFDs) on indices, stocks, or cryptocurrencies, which are increasingly popular among traders (source).
Rimc's trading costs are relatively high, with spreads starting around 2.4 pips for major currency pairs. This is considerably above the industry standard, where competitive brokers typically offer spreads within the 1.0 to 1.5 pips range. The absence of detailed commission information further complicates the cost assessment for potential traders (source).
The broker offers leverage of up to 1:100, which is considered reasonable for various trading strategies. However, this level of leverage can also pose significant risks, particularly for inexperienced traders who may be tempted to over-leverage their accounts (source).
Rimc exclusively uses the MetaTrader 4 platform, a well-regarded trading software known for its functionality and ease of use. However, the platform does not support mobile trading for iOS or Android, which limits accessibility for traders who prefer mobile trading options (source).
The broker does not provide clear information about restricted regions, which is a critical consideration for potential clients. Traders from certain jurisdictions may find themselves unable to open accounts or may face additional regulations.
Rimc offers customer support in English and simplified Chinese. However, user reviews indicate that response times can be slow, and the quality of support is lacking, which is a significant drawback for traders seeking assistance (source).
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 4 |
In conclusion, the Rimc review paints a concerning picture of a broker that lacks adequate regulatory oversight and presents several risks for potential investors. While the availability of the MetaTrader 4 platform is a positive aspect, the overall user experience, trustworthiness, and customer support leave much to be desired. Traders should exercise caution and consider more reputable alternatives before engaging with Rimc.
FX Broker Capital Trading Markets Review
