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No valid regulatory information, please be aware of the risk!
I oculd witdhraw funds at the beginning. And then I have to pay a 40% tax.
This is a fake platform, don't get fooled, they cheated from beginning to the end, and I still cannot withdraw money
I’m negotiating with their customer service, but they keep on giving me same paraphrased replies. I just want to withdraw my money. To make it worse, I found out that Richness Empire has no regulatory license.
Invested 5000 USD and when I gained and tried to withdraw just 1500, they told me that my account is frozen due to “malicious acts” The only way to unfreeze it is to replenish another 20% of my current balance which is horrendous and obviously a scammer move. They even taunt to sue me because I told them that I will report them to police to track their IP address. Good thing I saw in the other exposures that /assetspoor.tech/ can help me recover my funds which I really hope that they can.
I apply for withdrawal on April 30. And now I was asked to pay 30% to the tax bureau
We have to pay 30% to the tax bureau before withdrawing funds. And they said we could get the money in one working day. Isn’t it a scam?
I have invested for almost $7,000 and earn profit out of it. I tried to withdraw with them 3 times this week and the customer service told me that the platform is under maintenance and upgrade and come back for withdrawal business after 24 hours. Now, this is what happened. See attachments.
I met that charming guy on FB dating and he said he could help me to increase my asset to have a bright future with him. I was so idiot to place truth on him and then download MetaTrader5 app (which is legit), and use Richness Empire as Brokers. I believed that as a Broker listed on the app, it is regulated (basically not). So I made investment with him and even apply for the overdraft trap. So now when I discover that many people are in the same situation and I haven't completed the overdraft, I wouldn't spend any money on it any more. Just have to accept the truth that my money will never come back. I was idiot, please if there're any invitation for investment, check the broker carefully and do not place truth so easily like me. Now I'm broken and did borrow money from my friends, I need to find the way to pay them back!
I've invested $200. After trading for a while, my account exceeds $500. But I am unable to withdraw now.
The account has been blocked for one month, the deposit was paid, and it was still impossible to log in and withdraw funds. Please don't trust the margin.
I was about to withdraw 1500 USD, when Richness Empire notified me that my account has been frozen. Take note, this was supposed to be my second withdrawal. They’re requiring me to deposit 2300 USD to unfreeze my account. Beware of this Broker! Search your broker first before you push through.
RE informed me that they have a promotion of allocation loan whereby they would offer a loan of $30000USDT with the condition that I would have to deposit the same amount $30,000 USDT into the account. I have applied to receive this offer. At the time of the application, I already had $7,483.93 USDT in their account, There were no other information that was given about this offer other than the fact i had to deposit $30,000 USDT into the account. It was only after my application was approved they then advised me that I would need to deposit $30,000 into my account before 11.59pm 13/2/21 and it does not include $7,483.93 which i had already deposited. i was sceptical when they indicated that if I don't deposit another $30,000 into the account, they would deduct 20% from my account each day and report me to the Australia Banking committee which may ultimately affect my credit score but before depositing
After paying taxes, I was told that there are overseas funds remitted and I need to pay more than RM 10,000 deposit
I deposited nearly half a million dollars into my platform account, and I can’t log in now, and I can’t withdraw funds normally. This platform is a fraud platform
A friend invited me through social media and trapped me in a trap. My income exceeded US$3,000 and an overdraft of US$20,000 without any warnings. I must complete the payment of the deposited 20,000 USD, otherwise 10% of my money will be deducted every day. This is a complete scam and will affect investors!
I have been messaging the customer service for 3 days now about the withdrawal from my account; however, there haven't been any reply yet. I have met this guy in a dating app and said that he would help me increase my principal amount, at first, yes he did help me, but on subsequent trading, he won't help me unless I apply for an overdraft of at least 2000 US dollars, unfortunately I wasn't able to meet his demands so that's why he told me to apply for an overdraft of 3000 - 5000 us dollars and I did. After able to come up with the money, he told me that I cannot withdraw unless I top up another 5000 us dollars in which case I did; thereafter, I decided to withdraw the money but unfortunately, the customer service won't reply to me for 3 days and they have been sending messages with: "Hello, it is being processed for you, please wait a moment". I just have to face the fact that I have lost a lot of money and I'm in a very serious debt issue because of Richness - Forex
General Information & Regulation
Richness Empire (or Richness Forex) is a forex exchange dealer registered in the United Kingdom, with its actual address, founding time and the company behind it unknown to all. And Richness Empire is an unregulated broker already exposed as a potential scam by the financial authorities in the UK.
Tradable financial instruments available on the Richness Empire include forex currency pairs, commodities, indices, stocks, crypto currencies.
With respect to the minimum initial deposit offered by this broker, Richness Empire does not make this broker clear. In any case, most piers of Richness Empirerequire initial deposits in the range of $100 – $250.
In terms of trading leverage offered, Richness Empire provides leverage of up to 1:1000, which is pretty excessive and dangerous for traders. Most regulators have restricted the leverage that could be offered to retail investors to levels well below 1:100.
Spreads & Commissions
Richness Empire‘s platform offers the fixed spread on the EUR/USD pair at 2.0 pips, which isn’t favorable for traders.
Trading Platform Available
To our surprise, what Richness Empire offers its traders is the widely recognized and famous MT5 trading platform. However, given the fact that this broker is an unregulated one, the availability of the latest MetaQuotes platform doesnt make it a credible brokerage firm.
Deposit & Withdrawal
When it comes to payment methods available, this is another piece of information we miss. In any case, most brokers accept VISA and MasterCard, bank wires, and e-wallets like Skrill, Paypal, Neteller, etc.
It is never a good idea to work with an unregulated broker. This is because there is no excuse for a broker not to have at least some kind of license. The lowest-tier regulators have minimal requirements and oversight, and it is not a good idea to sign up with a broker with a low-tier license.
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