Ruizean Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
ASIC Suspicious Clone 
After months of waiting for this company to accept my withdrawal request which they denied, they locked my account and stopped responding to my emails. It seems that Ruizean has intentionally kept people out of their accounts for hideous purposes. They should know that the people are outraged and we are coming for them!
Ruizean Markets has garnered mixed reviews in the forex trading community, with a significant emphasis on its regulatory status and user experience. While the platform offers a variety of trading options and utilizes the popular MetaTrader 4 (MT4) trading platform, concerns about its legitimacy due to a suspicious regulatory license have raised red flags among potential traders. Additionally, the availability of customer support and the accessibility of its website are notable points of contention.
Note: It's crucial to consider that Ruizean operates under different entities across regions, which may affect user experience and regulatory oversight. This review aims to provide a fair and accurate assessment based on the latest available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
We score brokers based on a comprehensive analysis of user feedback and expert reviews.
Ruizean Markets, previously known as RZT Capital, is a forex broker established in 2019. It operates under a suspicious CySEC (Cyprus Securities and Exchange Commission) clone license, raising concerns regarding its credibility. The broker provides access to the widely-used MT4 trading platform, allowing traders to engage in various asset classes, including forex and CFDs on indices, commodities, and precious metals. However, the availability of cryptocurrencies is notably absent from its offerings.
Regulated Regions: Ruizean is registered in Cyprus but operates under a suspicious CySEC clone license, which has led to significant scrutiny regarding its legitimacy.
Deposit/Withdrawal Currencies: The primary currencies accepted for deposits and withdrawals are not explicitly mentioned, but typical forex brokers usually support major currencies like USD, EUR, and GBP.
Minimum Deposit: The minimum deposit required to open a standard account with Ruizean is $200, which is relatively accessible for new traders.
Bonuses/Promotions: There are indications of promotions, including cashback offers and discounts on VPS services, but specific details are scarce.
Tradeable Asset Classes: Ruizean offers a limited range of trading instruments, focusing primarily on forex pairs and CFDs on indices, commodities, and precious metals. The absence of stocks and cryptocurrencies may deter some traders.
Costs (Spreads, Fees, Commissions): The broker's standard account features spreads starting from 1.6 pips, while the ECN account offers tighter spreads from 0.3 pips but incurs a commission of $3.5 per lot. The pro account has spreads starting from 0 pips, also with a commission of $3.5 per lot.
Leverage: Ruizean offers a maximum leverage of 1:30, which is standard in the industry but can amplify both potential gains and losses.
Allowed Trading Platforms: The platform supports the MetaTrader 4 (MT4) trading software, which is known for its user-friendly interface and advanced trading capabilities.
Restricted Regions: While specific restricted regions are not detailed, traders should be cautious, especially those from jurisdictions with strict regulatory standards.
Available Customer Service Languages: Customer support is primarily available in English, with contact options including email and phone support.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
Account Conditions (5/10): The account conditions offered by Ruizean are average, with a minimum deposit of $200 and multiple account types available. However, the lack of transparency regarding fees and the suspicious regulatory status detracts from its appeal.
Tools and Resources (6/10): The use of the MT4 platform is a significant advantage, providing traders with various tools for technical analysis and automated trading. However, the limited asset variety may hinder traders looking for diverse investment opportunities.
Customer Service and Support (4/10): Feedback regarding customer service has been mixed, with reports of slow response times and limited support options. The absence of a live chat feature may also be a drawback for users seeking immediate assistance.
Trading Setup (Experience) (5/10): The trading experience on the MT4 platform is generally positive, but the concerns surrounding the brokers legitimacy may overshadow this. Users have reported issues with website accessibility, which can hinder trading activities.
Trustworthiness (3/10): The suspicious CySEC clone license is a significant red flag, leading to concerns about the safety of funds and the overall reliability of the broker. Traders are advised to exercise caution.
User Experience (4/10): User experiences vary widely, with some appreciating the platform's functionality while others express frustration over regulatory issues and customer support deficiencies.
In conclusion, while Ruizean Markets offers a familiar trading platform and some competitive conditions, its dubious regulatory status and mixed user feedback raise significant concerns. Potential traders should carefully consider these factors and seek alternatives that prioritize transparency and regulatory compliance. For those interested in further insights, the ruizean review provides a comprehensive look into the broker's offerings and user experiences.
