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    Raffles Market

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

    Licenses

    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

    Open for free

    Broker Information

    Company Name

    Raffles Market

    Phone of the company

    442033180439

    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.

    Pyramid scheme complaint
    Expose

    Check whenever you want

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    Warning: Low score, please stay away! 2
    2022.06.30

    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!

    • Account
    • Benchmark
    Comparison
    MT4 Download
    • VIP Account
    • ECN Account
    • Standard Account
    • Benchmark AAA
    • Maximum Leverage --
    • Minimum Deposit --
    • Minimum spread --
    • Products --
    • Currency --
    • Benchmark AAA
    • Maximum Leverage --
    • Minimum Deposit $20000
    • Minimum spread 0.1
    • Products --
    • Currency --
    • Benchmark AAA
    • Maximum Leverage 1:1000
    • Minimum Deposit --
    • Minimum spread --
    • Products --
    • Currency --
    • Currency --
    • Minimum position --
    • EA supported
    • Depositing Method --
    • Withdrawal Method --
    • Commission --
    • Currency --
    • Minimum position --
    • Depositing Method --
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    • Commission $10/lot
    • Currency --
    • Minimum position --
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    Brokers WikiFX Expose: Another Fraud Incident Reported Against RAFFLES MARKET

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

    WikiFX
    2022/6/24 3:47:44
    WikiFX Expose: Another Fraud Incident Reported Against RAFFLES MARKET

    Raffles Market

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    Raffles Market

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    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    Raffles Market
    * Contact number
    0086
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    *Reporting Reasons

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    You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'

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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.

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      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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    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    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.