Reality World Brokers – Can You Trust Them?

Website URL: https://realityworldbrokers.com

Founded: 2022

Regulations: Not Regulated

Languages: English, Turkish

Deposit Methods: Wire Transfer

Minimum Deposit: $25

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, Commodities, Indices

Trading Accounts and Conditions

Reality World Brokers offers their clients only a single type of trading account, which the broker calls their Standard account.

As for their trading conditions, on their website, this broker claims to offer an account opening minimum deposit of just $25. However, when we tried to fund our account while registering, then we realized that this broker would not allow us to open an account without us first depositing $5,000.

This broker does not offer flexible leverage; the only ratio you are allowed to trade with is 1:200. Other trading conditions such as fees, commissions,

Reality World Brokers – Advantages

The only saving grace for Reality World Brokers is the fact that they have a decent trading platform.

This broker offers their clients the Xone Trader. It is very similar to the MetaTrader platforms, with the exceptions that there is no algorithmic trading, and no Strategy Tester.

So, while this platform cannot compare to the MetaTrader platforms, it is still quite a decent platform to offer.

Reality World Brokers – Disadvantages

Here are all the reasons why we would strongly recommend to all traders that they avoid Reality World Brokers:

• Issues with Regulation

The first piece of proof we have that this broker is a scammer is the fact that Reality World Brokers is a scammer is their anonymity and lack of regulation.

In their Terms section, the broker claims that Reality World Brokers is also their trading name. However, the broker does not mention anywhere on their website where they are located. There is also no way to contact this broker. The only way that you will be able to get in touch with them is by filling in the form in their Support section.

The broker also does not mention anything about their regulation status. Instead, their Regulation section on their website is filled with generalities about KYC and investor protection. There is no mention of which authority they are regulated by.

Reality World Brokers does, however, paste a license from an agency called the International Financial License Service (IFLS). The problem is this: the IFLS is not a regulator that we know of. When we checked their website, we found that they were not affiliated with any particular government, and neither was their much information about them there. In fact, from what we can make out this regulator is another fake – created to give credibility to other scam brokers.

All in all, our investigation has shown us that we are dealing with an anonymous and unregulated broker, i.e., a scammer.

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• Lies About Minimum Deposit

This broker claims that you can open a trading account with them for just $25, which would be a big advantage. However, this is a lie. When we registered for an account, we found out that you were required to open a Standard Account, which, as we said earlier, is the only type of account this broker offers. And to be able to open this account type, you are required to make a minimum deposit of $5,000.

There are two issues here. First is obviously the lie about their minimum deposit. And the second is the actual amount itself. A $5000 minimum deposit is much too high. Industry standards range from $100 to $250, so this amount is far higher than acceptable.

• Lack of Trading Account Options

Legitimate brokers usually offer their clients a variety of trading accounts, where each account has a set of trading conditions associated with them. Therefore, depending on your skill level as a trader, you can choose the account type you wish to work with.

It is usually a red flag when a broker does not offer these options to their clients – as in the case of Reality World Brokers.

• Issues with Other Trading Conditions

The trading accounts and the minimum deposits are not the only issues we have with Reality World Brokers’ trading conditions. Their spreads look quite good on the surface of it. This broker’s platform shows a spread of 1.2 pips on the EURUSD set. However, this broker has not provided any other details related to the actual cost of trading: fees and commissions that go along with the spreads.

And since we do not know if this broker is charging commissions, we do not really know the real cost of trading with them.

As for the leverage ratios, Reality World Brokers offers a leverage of 1:200 – which is not flexible. And this means that you have no choice but to trade with a leverage of 1:200. This is an issue on two levels. First you have no choice about the amount of leverage you can use; risk-averse traders would prefer to use much lower leverage ratios. And second, such high leverage is banned in many countries because of the risk associated with dealing in high leverage ratios.

All of these discrepancies tell us that we are dealing with a scammer.

• Issues with Payments

Once again, what this broker offers and what is actually available are two different things. Reality World Brokers claims to offer four types of payment options: Debit Card, Credit Card, Wire Transfers and E-Wallets.

However, when we checked their payment portal, we found that the only way that we could make payments was via wire transfers. And while such payment types are safe, they are pretty much irreversible, which means that if you invest with Reality World Brokers, there is no way you will be able to get your money back.

And this is how scammers operate in getting your money. 

Conclusion

Reality World Brokers is just another scammer and is not to be trusted with your funds.

Reality World Brokers

2.5

User Experience

2.5/10

Payment Options

2.2/10

Security

2.8/10

Support

2.6/10

Reputation

2.6/10

Pros

• Decent Trading Software

Cons

• Issues with Regulation
• Lies About Minimum Deposit
• Lack of Trading Account Options
• Issues with Other Trading Conditions
• Issues with Payments