|No Regulatory
WikiFX Score
Saint Vincent and the Grenadines
Comparison
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! 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. Provide service support by WikiFX
Single Core
1G
40G
Company Name
Raffles Market
Phone of the company
442033180439
Company website
Customer Service Email Address
support@rafflesmarket.com
Company address
First Floor, First Saint Vincent Bank Ltd. Building, James Street, Kingstown, St.Vincent and the Grenadines.
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It has been verified that this broker currently has no valid regulatory, 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!
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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.
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You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email：support@wikifx.com；
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;+44-7517747077
License or other information error correction, please send the information to:qawikifx@163.com;
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Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.
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