RS Finance Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
Business
License
ASIC Suspicious Clone 
It attracted users by profits and set a lot difficulty when withdrawing. Beware.
Artificially manipulate the exchange rate to go against your position thereby liquidating your account!!
In the ever-evolving landscape of online trading, Rs Finance has emerged as a broker claiming to offer a variety of trading instruments and a robust trading platform. However, a deep dive into user experiences and expert analyses reveals a concerning picture. Multiple sources indicate that Rs Finance may be operating under dubious circumstances, with a suspicious regulatory status and negative user feedback raising significant red flags.
Note: The existence of different entities operating under similar names across various regions complicates the regulatory landscape. This review aims to present a balanced view based on the most reliable and recent information available.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 1 |
| User Experience | 2 |
We rate brokers based on a combination of user feedback, expert opinions, and factual data.
Established in 2020, Rs Finance claims to provide a wide range of trading services from its base in Australia. The broker offers access to the MetaTrader 5 (MT5) platform, which is known for its advanced trading features. Rs Finance claims to support trading in various asset classes, including forex, commodities, indices, stocks, and cryptocurrencies. However, the regulatory framework surrounding this broker is highly questionable, as it allegedly operates under a clone license from the Australian Securities and Investments Commission (ASIC).
The regulatory landscape for Rs Finance is murky. Reports indicate that the broker claims to be licensed by ASIC under license number 441277, but this license is suspected to be a clone, raising serious concerns about the broker's legitimacy. The Hong Kong Securities and Futures Commission (SFC) has also issued warnings against Rs Finance, stating that it is not authorized to operate in Hong Kong and may be misleading investors by using names similar to legitimate firms. According to ForexBrokerz, the broker has been flagged for operating illegally, which significantly impacts its trustworthiness.
Users report that the conditions for trading with Rs Finance are not favorable. There is no clear information regarding minimum deposit requirements, and the lack of transparency around account types raises concerns. The broker does not provide segregated accounts, which is a critical factor for ensuring the safety of client funds. As noted by WikiFX, traders should be wary of any broker that lacks clear regulatory backing and fails to offer basic account protections.
While Rs Finance offers the MT5 trading platform, which is highly regarded for its comprehensive features, the overall availability of trading tools and educational resources appears limited. Many users have expressed dissatisfaction with the lack of support materials and guidance, which can be particularly challenging for novice traders. According to WikiFX, the broker's website is also currently non-functional, further complicating access to essential trading resources.
Customer support for Rs Finance is reportedly minimal, with limited communication channels available. Users have expressed frustration over the lack of immediate assistance, as the broker primarily relies on email for support. The absence of live chat or phone support can leave traders feeling isolated, especially during critical trading hours. Reports from users on ForexBrokerz highlight issues with delayed responses and inadequate support for resolving trading problems.
When it comes to costs, Rs Finance advertises competitive spreads starting from 0.5 pips for major currency pairs. However, user experiences indicate that actual spreads may be significantly higher, with reports of spreads reaching 2.4 pips for EUR/USD. Additionally, the lack of transparency regarding commissions and fees raises further concerns about the overall cost of trading with this broker. According to The Forex Review, the absence of clear fee structures can lead to unexpected trading costs.
Rs Finance offers leverage up to 1:400, which is attractive to some traders but poses significant risk, especially for inexperienced investors. High leverage can amplify both gains and losses, making it essential for traders to employ robust risk management strategies. However, the lack of educational resources and support around risk management can leave traders vulnerable to significant losses.
Overall, user experiences with Rs Finance have been predominantly negative. Many traders have reported issues with fund withdrawals, poor customer service, and a general lack of transparency regarding the broker's operations. According to WikiFX, there are multiple complaints about withdrawal problems and the broker's operational integrity, suggesting that potential traders should exercise extreme caution.
In summary, Rs Finance presents a concerning option for traders looking for a reliable broker. The suspicious regulatory status, lack of transparency, and negative user feedback raise significant red flags. It is advisable for potential traders to consider alternative brokers that emphasize regulatory compliance, transparency, and robust customer support.
Given the risks associated with trading through Rs Finance, we strongly recommend conducting thorough research and due diligence before making any investment decisions.
FX Broker Capital Trading Markets Review
