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Richness Empire -

Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

Richness Empire

United Kingdom|2-5 years|
Suspicious Regulatory License|MT4/5 full license|Chinese market only|High potential risk|

http://www.richnessep.com/en/index.html

Website

Open Account Time Machine

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
RichnessEmpire-Server MT5
Server Location Hong Kong

Contact

support@richnessep.com
http://www.richnessep.com/en/index.html
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. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

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Company Name

Richness Empire

Company Abbreviation

Richness Empire

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2023-12-09
  • 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 26 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Exposure

28 pieces of exposure in total
Pyramid scheme complaint
Expose
Resolved

Unable to withdraw. Threaten users

I oculd witdhraw funds at the beginning. And then I have to pay a 40% tax.

2021-07-16 10:42
Unable to withdraw

Shameful financial scammer, Miss Wen Na

This is a fake platform, don't get fooled, they cheated from beginning to the end, and I still cannot withdraw money

2021-07-12 07:27
Others

Richness Empire Scam

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.

2021-03-28 20:14
Scam

STAY AWAY FROM THIS BROKER. Obviously a SCAM!!

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.

2021-03-28 23:15
Unable to withdraw

Can't withdraw

I apply for withdrawal on April 30. And now I was asked to pay 30% to the tax bureau

2021-05-09 16:04
Unable to withdraw

Scam

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?

2021-05-11 12:23
Unable to withdraw

Unable to Withdraw

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.

2021-03-26 14:58
Scam

Obvious scam. Just stay away from it

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!

2021-04-15 13:41
Unable to withdraw

Richness Empire

I've invested $200. After trading for a while, my account exceeds $500. But I am unable to withdraw now.

2021-04-15 06:32
Unable to withdraw

Unable to login and withdraw

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.

2021-05-12 16:47
Unable to withdraw

Richnessempire Scam

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.

2021-03-27 12:02
Unable to withdraw

RE USES SAME SCAM TRICK FOR EVERYONE

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

2021-03-27 14:22
Resolved

Obvious scam

After paying taxes, I was told that there are overseas funds remitted and I need to pay more than RM 10,000 deposit

2021-07-19 11:37
Unable to withdraw

Unable to login or withdraw funds

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

2021-06-12 22:19
Scam

Discussion

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!

2021-04-05 18:36
Unable to withdraw

Unable to withdraw and No reply from customer service

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

2021-04-21 22:50

    Richness Empire · Company Summary

    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.

    Market Instruments

    Tradable financial instruments available on the Richness Empire include forex currency pairs, commodities, indices, stocks, crypto currencies.

    Minimum Deposit

    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.

    Leverage

    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.

    Trading Risks

    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.

    User Reviews

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    3

    Comments

    Write a review

    Matthew111
    more than one year
    The spreads are absolutely ridiculous. It's like they're trying to take as much of your money as possible with every trade. And the trading platform itself is just plain bad. It's clunky, slow, and frustrating to use. But the worst part of it all has to be the customer service. It's like they're intentionally trying to be unhelpful. Every time I've had an issue or a question, they've been zero help at all. It's just so frustrating to deal with.
    2023-03-30 10:48
    Reply
    0
    0
    FX1087398061
    more than one year
    Their platform cannot log in, and the money in my account cannot be withdrawn. I have contacted customer service many times, but I have not received any replies so far. If this continues, I'm going to go to the police.
    2022-12-01 10:23
    Reply
    0
    0
    Hery
    more than one year
    This shameless Richness Empire blocked my account on their side, and I contacted my account to ask what happened several times, he didn’t respond me at all. I made a deposit of $2,000 here! Until now, no one tell me what has happened? Am I cheated? Anyone who has experienced the same? Who can help me!
    2022-11-30 14:37
    Reply
    0
    0
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