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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.
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.