Thinking of getting into business with Hong Kong Ruitong? Here is what you must know about this broker. Carefully read this review to find out if www.rtttrade.com is the trading platform you will want to trade with.
Table of Contents
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
About Hong Kong Ruitong Broker
Hong Kong Ruitong is an offshore brokerage company with a lot of promises for traders. The broker location cannot be found on the webpage. To begin with, this is a red flag on the side of Hong Kong Ruitong broker. By the name, we assume the broker is from Hong Kong.
To clarify, in spite the trading instruments Hong Kong Ruitong claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
rtttrade.com: Reasons to Avoid This Broker
Firstly, rtttrade.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as Hong Kong Securities and Futures Commission (SFC) does not recognize this broker among its licensed entities.
Secondly, we noticed rtttrade.com has no demo account for traders. Since traders can’t test broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Further, the importance of legal documents cannot be under emphasized especially when doing due diligence. Truly, we could not assess the broker’s legal documents as we found it missing on the webpage.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Hong Kong Ruitong leaves us with no information on what fees forex traders will be charged for any withdrawal nor processing days on each withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
The broker minimum deposit is not available.
As for the payment methods, Hong Kong Ruitong mentioned nothing on that. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Hong Kong Ruitong Platform
Hong Kong Ruitong offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker provided no information. In fact, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Hong Kong Ruitong Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
Instead, Trade with TOP RATED BROKERS
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is rtttrade.com a Reliable Broker?
No, rtttrade.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.