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The WikiFX Score of this broker is reduced because of too many complaints!

Raffles Market

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Chinese market only|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
RafflesMarket-Demo MT4
Server Location Hong Kong


+44 2033180439
First Floor, First Saint Vincent Bank Ltd. Building, James Street, Kingstown, St.Vincent and the Grenadines.
The WikiFX Score of this broker is reduced because of too many complaints!


No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core



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Contact number


+44 2033180439

Broker Information


Company Name

Raffles Market

Company Abbreviation

Raffles Market

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 2
Previous Detection : 2023-11-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 17 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    Raffles Market · Company Summary

    General Information & Regulation

    Raffles Market is a St. Vincent and the Grenadines registered broker established in 2020 offering traders access to CFDs across Forex, Indices, Commodities, Stocks & Cryptocurrencies. Regulation details announced on the official websites are that Raffles Market is registered as the International Business Company of St. Vincent and the Grenadines Financial Services Authority (FSA), registration number 458 LLC 2020, and Raffles Market LLC is licensed and regulated by The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with license no. M21382961.

    Market Instruments

    In respect to tradable instruments, Raffles Market offers a selection of forex pairs and CFDs on indices, stocks, precious metals, commodities and crypto coins.

    Minimum Deposit

    Raffles Market comes with a choice of three account types, the Standard, the VIP and the ECN account. The Standard accounts requires no minimum initial deposit, while the ECN account requires a deposit from $20,000, which is incredibly high.


    Raffles Market Leverage

    Raffles Market offers the maximum possible leverage is up to 1:1000, a ratio that no one should ever use because that‘s pure gambling. Worse though, the minimum possible leverage is 1:100, which is a level that’s also not safe enough, and it turns out that Raffles Market intentionally pushes traders into a high-risk environment. Keep in mind thats a scam sign notwithstanding there were only managed accounts available at the time!

    Spreads & Commission

    There is no spread details on Raffles Markets website, which seems to be so abnormal. Most brokers will tell their spreads on each instruments, while the broker just say how many instruments it can trade with.

    Raffles Market Trading Platforms

    Raffles Market offers its trader the MT4 trading platform. The smart interface enhances the overall trading experience and offers a number of impressive additional features. It can be downloaded and accessed from PC or Mac, allowing you to trade from anywhere in the world.

    Deposits & Withdrawals

    Traders are allowed to fund their Raffles Markets accounts through Bank online transfer, Local transfer and USDT online transfer, as well as Alipay, PayPal. Minimum deposit requirements vary depending on different payment methods, for example, traders who fund through Visa or Mastercard need deposit at least $100.



    WikiFX Expose: Another Fraud Incident Reported Against RAFFLES MARKET

    ExposureWikiFX Expose: Another Fraud Incident Reported Against RAFFLES MARKET

    2022-06-24 11:46

    A fraud has been reported by a trader and being revealed by WikiFX to give awareness to everyone the illegal activities of the broker

    2022-06-24 11:46
    WikiFX Expose: Another Fraud Incident Reported Against RAFFLES MARKET

    User Reviews

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    Write a review

    more than one year
    I love its generous trading leverage, giving me much flexibility. However, its minimum deposit of $500 is a little bit higher for. I am used to trading with brokers requiring low deposits, hmmm… I guess this one is not suitable for me.
    2022-12-02 18:40
    more than one year
    BIG SCAM!!! They wiped out all my profits, and they won't let me withdraw money! See a lot of people on the Internet exposing this broker, I just can’t believe that so many people have been cheated by them! That's terrible! Why hasn't this broker been put in jail for stealing so much of our money? ! SHAME ON THEM!!!
    2022-12-02 16:18
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    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;+44-7517747077
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