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

Radar Brokers

Vanuatu|5-10 years|
Retail Forex License|MT5 Full License|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|Offshore Regulated|

https://radarbrokers.net/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

25
Server Name
RadarBrokers-Demo MT5
Server Location China

Contact

contact@radarbrokers.com
https://radarbrokers.net/
1st Floor, iCount Building, Kumul Highway, Port Vila, REPUBLIC OF VANUATU
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Other ways of contact

Broker Information

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Company Name

Radar Brokers Limited

Abbreviation

Radar Brokers

Platform registered country and region

Vanuatu

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts 4
Previous Detection : 2024-07-22
  • The number of the complaints received by WikiFX have reached 11 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0533881) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0533881)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 14674 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

Radar Brokers · WikiFX Survey

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Radar Brokers · Company Summary

Radar Brokers Review Summary
Founded 5-10 years
Registered Country/Region Vanuatu
Regulation NFA (Unauthorized)
Market Instruments stocks, global indexes, derivatives, funds, bonds
Trading Platforms Radar Trader, MT5
Customer Support email, telephone

What is Radar Brokers?

Radar Brokers is a brokerage firm that offers a diverse range of trading instruments across various asset classes, including stocks, global indexes, derivatives, funds, and bonds. They provide a variety of trading platforms, including their proprietary Radar Trader platform and the popular MetaTrader 5 (MT5). Radar Brokers also facilitates overseas remittances with multiple deposit methods and accessible customer service channels.

Radar Brokers' home page

Pros & Cons

Pros Cons
• Offers a variety of trading instruments • Lack of valid regulation
• Multiple deposit methods • High handling fee for account withdrawals
• Provides both proprietary and popular trading platforms like MT5

Radar Brokers Alternative Brokers

There are many alternative brokers to Radar Brokers depending on the specific needs and preferences of the trader. Some popular options include:

  • XM - XM offers a diverse range of trading instruments, competitive spreads, and multiple account types. It is known for its educational resources and customer support.

  • AvaTrade - With a strong global presence, AvaTrade offers a wide range of trading instruments and platforms, including MetaTrader 4 and AvaTradeGO, catering to traders of all experience levels.

  • FXTM - ForexTime (FXTM) provides a variety of account types, educational materials, and analysis tools. It offers competitive trading conditions and a range of instruments to trade.

Is Radar Brokers Safe or Scam?

The fact that Radar Brokers claims to be regulated by the NFA (National Futures Association) but is currently unauthorized is a significant red flag. Regulatory oversight is crucial for ensuring the safety and security of client funds and adherence to industry standards.

unauthorized NFA license

Given the lack of valid regulation, potential investors and traders should exercise extreme caution when considering Radar Brokers as their brokerage of choice. It is advisable to thoroughly research and consider alternative brokers with reputable regulatory status and a track record of transparency and reliability.

Market Instruments

Radar Brokers is a brokerage firm that offers a diverse range of trading instruments across various asset classes. Here's a brief summary to describe the market instruments available at Radar Brokers:

  • Stocks: Radar Brokers provides access to the equity markets, allowing clients to trade shares of publicly-listed companies. This includes stocks from both domestic and international exchanges.

    • stocks
  • Global Indexes: Clients can trade global stock market indices, such as the S&P 500, NASDAQ, FTSE 100, and many others. These indexes represent the performance of a group of stocks and are commonly used as benchmarks for overall market trends.

    • global indexes
  • Derivatives: Radar Brokers offers derivatives trading, which includes futures and options contracts on various underlying assets. Derivatives allow traders to speculate on the future price movements of assets without owning them directly.

    • derivatives
  • Funds: The brokerage provides access to a wide range of investment funds, including mutual funds, exchange-traded funds (ETFs), and hedge funds. These funds pool money from multiple investors and are managed by professional fund managers.

    • funds
  • Bonds: Clients can invest in bonds, including government bonds, corporate bonds, and municipal bonds. Bonds are fixed-income securities that pay periodic interest to investors.

bonds

Commissions

Radar Brokers employs a flexible commission structure that adapts to different markets and account types. In the case of the U.S. stock comprehensive account, traders are charged a commission of $0.0035 per share, which equates to $3.5 for every 1,000 shares traded. Importantly, there is a minimum commission of $0.5 for each individual transaction, ensuring that even smaller trades remain cost-effective.

For those using U.S. stock global accounts, the commission for 1x leverage on U.S. stocks mirrors the rate offered in the comprehensive account. However, if traders opt for 4x leverage on U.S. stocks, they will incur a slightly higher commission of $0.01 per share, amounting to $10 for every 1,000 shares traded. The minimum commission for these leveraged transactions is $0.1 per trade. This tiered pricing structure reflects Radar Brokers' commitment to providing competitive rates and accommodating the diverse needs of their clients, whether they prefer traditional or leveraged trading strategies.

Trading Platforms

Radar Brokers offers a variety of trading platforms to cater to the diverse needs of its clients.

Radar Trader is Radar Brokers' proprietary trading platform. It is designed to provide a user-friendly and intuitive trading experience. Traders using Radar Trader can access a wide range of financial instruments, execute trades, analyze market data, and manage their portfolios.

Radar Trader

Radar Brokers also offers MT5 to clients who prefer this platform. MT5 is known for its robust features, including advanced charting, technical analysis tools, algorithmic trading capabilities, and access to a vast library of trading indicators and expert advisors.

MT5

Deposits & Withdrawals

Radar Brokers offers a convenient array of deposit methods for clients engaging in overseas remittances. These options include China Merchants Bank, Bank of Communications, and Industrial and Commercial Bank of China, providing flexibility for clients to choose the most suitable method based on their preferences and geographical locations.

When it comes to withdrawing funds, clients have two convenient options: they can initiate withdrawals directly from the official website or through the mobile app, ensuring accessibility and ease of use. It's worth noting that the minimum withdrawal amount is set at US$40, allowing clients to access their funds efficiently. However, clients should be aware of a nominal handling fee for account withdrawals, amounting to 0.4% of the withdrawal amount or a minimum charge of $20 per transaction.

Customer Service

Radar Brokers offers accessible customer service through multiple channels to assist its clients. Clients can reach out for support via email at contact@radarbrokers.com, providing a written communication channel for inquiries, assistance, and issue resolution.

Additionally, for more immediate assistance, clients have the option to contact Radar Brokers via telephone at +678-22159. This allows clients to speak directly with customer service representatives for prompt assistance with their queries or concerns.

Furthermore, Radar Brokers' head office is located on 1st Floor, iCount Building Kumul Highway, Port Vila, Republic of Vanuatu, which serves as a physical point of contact for clients seeking in-person assistance or correspondence.

contact details

Conclusion

In evaluating Radar Brokers, it's crucial to consider several factors. The broker's claims of NFA regulation, while currently unauthorized, raise concerns about transparency and regulatory compliance. Additionally, the relatively high handling fee for account withdrawals and the head office's location in Vanuatu, known for lenient regulatory standards, underscore potential risks for clients.

While Radar Brokers offers a range of trading instruments and platforms, investors should exercise caution and conduct thorough research when considering this brokerage, emphasizing regulatory compliance and transparency as critical factors in their decision-making process. As with any financial endeavor, it is wise to prioritize security, reliability, and accountability when selecting a brokerage partner.

Frequently Asked Questions (FAQs)

Q1: What trading instruments are available at Radar Brokers?

A1: Radar Brokers offers a diverse range of trading instruments, including stocks, global indexes, derivatives, funds, bonds, and potentially cryptocurrencies.

Q2: What trading platforms are provided by Radar Brokers?

A2: Radar Brokers offers multiple trading platforms, including their proprietary Radar Trader platform and the popular MetaTrader 5 (MT5).

Q3: Is Radar Brokers regulated?

A3: While Radar Brokers claims to be regulated by the NFA (National Futures Association), it is currently unauthorized, raising concerns about regulatory compliance.

Q4: What are the deposit methods available at Radar Brokers?

A4: Radar Brokers facilitates overseas remittances through various deposit methods, including China Merchants Bank, Bank of Communications, and Industrial and Commercial Bank of China.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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