RSI Capital Markets – Can You Trust Them?

Website URL: https://www.rsiforex.com

Founded: 2017

Regulations: Unlicensed

Languages: English

Deposit Methods: No Information Available

Minimum Deposit: Not Given

Free Demo Account: None Available

Number of Assets: Unknown

Types of Assets: Forex, CFDs on Commodities, Shares, Indices

Trading Accounts and Conditions

RSI Capital Markets gives us no information about the types of accounts they offer their clients or even what the minimum deposit requirement is. All we know is that the maximum leverage ratio offered by this broker is 1:100. As far as spreads are concerned, the broker simply states that they offer low standard spreads that are commission-free. However, the broker avoids giving solid numbers on the spreads.

RSI Capital Markets – Advantages

There are no advantages to trading with RSI Capital Markets

RSI Capital Markets – Disadvantages

Here are the many disadvantages of trading with this broker:

• Unregulated, Anonymous Broker

According to the information given on this broker’s website, their parent company, RSI CAPITAL LLC is licensed in Montenegro, under their Ministry of Finance, with license number 50815144.

Beyond there, there is nothing else mentioned on their website about their corporate identity. We do not have corporate address or even a contact number.

There are two problems here. First, Montenegro still does not have a proper regulatory framework in place for forex brokers, so if a broker claims to be licensed in this jurisdiction, in effect, it means that that broker is operating without proper regulations. Second, Montenegro is only a candidate nation for the European Union, which means that even if the broker does have some for of license to operate, it does not mean that that broker is allowed to operate in the EU.

So, basically, what we have here is an unregulated and anonymous brokerage – which means that it is in all probability a scammer. And that means that your funds are not safe with RSI Capital Markets.

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• No Terms and Conditions Given

Another huge red flag about RSI Capital Markets is that their website does not have a Terms and Conditions section. The Terms and Conditions, also known as the Client Agreement, is a critical legal document that details the terms of service that are offered by the broker.

This legal document will tell you what the are the boundaries under which you may trade with the broker, what the fees, penalties, etc. are. Without this document, you are left completely unprotected. If you sign up with a brokerage that has not clearly detailed their terms and conditions, you are basically giving them a free hand to do whatever they want with your money – including walking away with it!

• Lies About Trading Software

Very prominently displayed on RSI Capital Markets’ main page is the announcement that this broker offers their clients the MetaTrader 5 trading software.

Had this been true, we would have considered it a huge advantage, since the MT5 platform (as it is more popularly called) is an extremely easy to use software with features such as market analysis and charting tools to help with technical analysis; advanced traders swear by this platform because of these tools. Furthermore, you also get trading bots called Expert Advisors that allow you to carry out automated trading sessions.

RSI Capital Markets promises a demo platform with which you can test the trading conditions as well as the MT5 platform they claim to support. However, when we tried to use the demo account, we were informed that representatives of RSI Capital Markets would get in touch with us. To this end, we were asked to leave our contact information.

We also tried opening a live account, but once again, we got the same message.

This is such a typical scam tactic. The representative will call on your contact number again and again, asking for your credit card or bank details and asking you to make a deposit immediately. And for those of us who make the mistake of giving them these details, we will suddenly find that large sums of money have with withdrawn from our accounts. And then, since there is no contact number given on RSI Capital Markets’ website, there will be no way to get in touch with them to get our money back.

• No Information on Accounts or Minimum Deposit Requirements

The lack of transparency on the part of RSI Capital Markets continues. This broker has not even given the most basic of information on their website – the types of trading accounts they have or even what the minimum deposit requirement is.

• No Spreads Given

As we said earlier, this broker hasn’t even provided information on the spreads they offer. Traders need to know the spreads because this will tell them the cost per trade. Without this information, you will not know whether it is advantageous or not to trade with this broker.

• No Information on Payment Methods

There is no information on the payment methods offered by this broker. So, basically you do not know how you can make deposits or withdrawals from your RSI Capital Markets account.

But then, considering the fact that this broker’s standard byline is that a representative will call you for all further actions, it is not surprising that they have not given any information on their website. They do not want the scam to be revealed.

Conclusion 

RSI Capital Markets is a clear-cut scammer. It is an offshore broker, supposedly based in a country that has stated that they do not have a framework for forex brokerage regulation in place yet. It is also completely anonymous, with no corporate information. There is no way that you can get in touch with them, except by filling in the Contact Us form given on their website. And there is absolutely no information on their trading conditions.

Do not contract with RSI Capital Markets.

RSI Capital Markets

2.4

User Experience

3.3/10

Payment Options

2.0/10

Security

2.2/10

Support

2.4/10

Reputation

2.1/10

Pros

• None

Cons

• Unregulated, Anonymous Broker
• No Terms and Conditions Given
• Lies About Trading Software
• No Information on Accounts or Minimum Deposit Requirements
• No Spreads Given