RevolutionFx – Is it Trustworthy?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
RevolutionFx - DO NOT TRADE WITH THIS PROVIDER
2.7/10
$100
Minimum Depositupdated 2020
According to the information mentioned on the website, RevolutionFx the only thing told about the RevolutionFx is that it is registered and based in the area of St. Vincent and Grenadines, which is an offshore zone and is very famous for the illicit forex entities. This is because the financial authority of this offshore area does not regulate the forex and CFD trading brokers. Moreover, registering the brokerage business in this area is easy, low cost, and there is no oversight of the governmental financial authority.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://revolution-fx.io/
Founded: 2020
Regulations: Unregulated
Languages: English, German, Russian, and Spanish
Deposit Methods: Master and Visa cards, Mastercard secure code, Piastrix, Wire transfer, and Maestro
Minimum Deposit: $250
Free Demo Account: Yes
Number of Assets: 150+ instruments
Types of Assets: Forex, Stocks, Commodities, Indices, Products, Commodities, and Index
Trading Accounts and Conditions:
There are six types of trading accounts offered by RevolutionFx and their conditions are:
- Micro Account: the spreads starting from 3 points, minimum deposit $250, leverage level 1:200, and bonuses up to 25%.
- Mini Account: the spreads starting from 3 points, minimum deposit $1000, leverage level 1:200, and bonuses up to 35%.
- Classic Account: the spreads starting from 2.5 points, minimum deposit $5000, leverage level 1:100, and bonuses up to 50%.
- Pro Account: the spreads starting from 2 points, minimum deposit $10,000, leverage level 1:100, and bonuses up to 75%.
- VIP Account: the spreads starting from 1 point, minimum deposit $25000, leverage level 1:300, and bonuses up to 90%.
- Platinum Account: the spreads starting from 0.7 points, minimum deposit $100,000, leverage level 1:200, and bonuses up to 100%.
RevolutionFx – Advantages:
RevolutionFx does not offer any trading incentives or advantages to the traders.
RevolutionFx – Disadvantages:
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An Unregulated Broker:
According to the information mentioned on the website, RevolutionFx the only thing told about the RevolutionFx is that it is registered and based in the area of St. Vincent and Grenadines, which is an offshore zone and is very famous for the illicit forex entities. This is because the financial authority of this offshore area does not regulate the forex and CFD trading brokers. Moreover, registering the brokerage business in this area is easy, low cost, and there is no oversight of the governmental financial authority. Plus, no specific rules and regulations are there that forex brokers will have to follow. Hence, all St. Vincent and Grenadines registered brokers are simply fishy scammers. Likewise, RevolutionFx also falls within the same category. So we can conclude that it is a non-licensed and un-authorized broker with an unregulated website that is anonymous for all practical purposes and is not reliable enough to trade with.
Therefore, the most effective way to avoid such types of scammers in today’s online trading world is to only trade with legitimate forex brokers who are registered with reliable financial agencies like FCA in the UK, ASIC in Australia, and CySEC in Cyprus. The brokers registered with these authorities are liable to follow a set of rules and regulations to maintain integrity in the forex market and to protect the traders against frauds.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Fraud Withdrawal Policy:
In many cases, the new or less experienced investors realize that they have been scammed only when they make a withdrawal request to withdraw money from their trading accounts. While in response to their withdrawal requests, the scammers like RevolutionFx make different lame excuses to deny, delay, or even cancel the withdrawal requests. They mention this fraud withdrawal policy in their terms and conditions section or the bonus policy on their websites. RevolutionFx has also mentioned such a type of “non-deposited funds clause” in their legal documents.
Additionally, fishy brokers like RevolutionFx use trading bonuses as a lame excuse to cancel the withdrawal requests, and these trading bonuses are not free gifts. They come with additional withdrawal conditions attached to them like to achieve excessive trading volumes which professionals even find hard to achieve.
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Lies About the Trading Platform:
RevolutionFx claims to support the renowned metatrader4 trading platform. However, it is only a lie because when you will sign-up and open a live account with this broker, you will have access to a very basic web-based trading platform, which lacks all the essential trading tools and features. Therefore, always choose the broker offering metatrader4 or metatrader5 trading platforms, as they are the number one choice among 80% of the forex market brokers. This is because both the platforms offer excellent and trading tools and the best instruments, and plenty of charting options that help to analyze the data and predict the future change in exchange rates.
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High Leverage Levels and Risky Spreads:
RevolutionFx has mentioned in its account types section of the website that the EUR/USD spread values are starting from 2.5 – 3.0 pips for the basic account types, which is twice higher than the industry average figure. Such a high spread is of course not the trader’s advantage because it increases the trading cost and makes it impossible to achieve sustainable profits.
Furthermore, account types information also reveals that except for the VIP and platinum accounts, the leverage level is capped at 1:100 or 1:200 which is a typical value offered by most of the offshore brokers. Such high leverage caps can either result in a big profit or a big loss. However, the chances of making a loss in the transaction are higher than the chances of making a profit with high leverage levels. So it is not recommended to trade with such high leverage caps, especially for beginners. It may lead to devastating losses in just a few minutes.
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Long Withdrawal Process and Misleading Information:
When you will go through the information related to withdrawal processing time on the website of RevolutionFx, you will see many discrepancies in it. For example, it has been mentioned in the deposit/withdrawal document that the time for processing the withdrawal requests is 4-7 business days. Whereas in the terms and conditions section it is 2-5 business days. Moreover, the time for processing the withdrawals is too long.
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High Dormant Account Fee:
For accounts, which have been inactive for six months or more, and have not executed any trade activity, RevolutionFx charges a fee of 10% each month, which is an unfair amount. All the legit brokers charge a fixed amount not the percentage and only ask for $20 as the fee for the dormant account.
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Bonus Rewards to Trap Customers:
RevolutionFx has offered a bonus policy to trap customers that starts from 25% and goes as high as 100%. However, these bonuses are heavy to fulfill requirements attached to them. The trader will have to execute the trading volume 25 times the deposit amount and the bonus amount to withdraw the bonus amount. While in terms and conditions documents this minimum trading volume amount is 30 times the deposit amount plus bonus. Again a big discrepancy was found in the information on the broker’s website. Furthermore, these trading volumes are not easy to achieve even for professionals. Whereas, licensed forex brokers never offer free gifts or bonuses as it is an indicator of scammers.
Conclusion
RevolutionFx claims to be a global forex broker and market leader offering transparent and profitable trading services. These claims may sound tempting but there are many issues with this broker’s legal status and many discrepancies have been found in the information on this broker’s website.
Therefore, RevolutionFx is an offshore non-legit entity operating with a cheap-looking website, which features outdated financial news, an article written in the French language, and links to free dating websites.
RevolutionFx
Pros
- None
Cons
- An unregulated broker
- Fraud withdrawal policy
- Lies about the trading platform
- High leverage levels and risky spreads
- Long withdrawal process and misleading information
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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