What is RENHE？
RENHE is a Chinese financial services company that offers online trading services in various financial markets, including Forex, Commodity, Index, CFD. The company provides traders with access to a range of trading instruments and tools to participate in the global financial markets.
Pros & Cons
Pros
Multiple Market Instruments: RENHE provides a wide range of instruments, such as Forex, Commodity, Index, CFD.
No Commission: RENHE does not impose any commission charges, making trading more cost-effective, thereby favouring its clients' profit margins
Cons
Suspicious Clone SCB License: RENHE operates under the regulation of the SCB, but it is a suspicious clone. Be cautious while trading with any brokers without valid regulations.
Strict Regional Restrictions: The broker imposes strict geographical restrictions, excluding users from the United States, Singapore, Hong Kong, North Korea and Iran from their services, thereby limiting their potential customer base.
Is RENHE Legit or a Scam？
Regulatory Sight: RENHE is currently under the regulation of The Securities Commission of The Bahamas（SCB) (No. SIA-F211), which is suspected to be fake clone. While the regulation adds an element of credibility and trust to RENHE' s operations, it's essential for traders to be cautious.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
How to Open an Account？
Before submitting an account opening application, please prepare the account opening materials that need to be uploaded. The material description is as follows:
Front and back of ID card (photo or scan into image format jpg, gif and png are acceptable)
Bills issued by the public such as telecommunications, water bills, electricity bills, gas bills, banks (the bill must show the name and address information of the account holder, and must be within the last 3 months)
Driver's license, residence permit, temporary residence permit (valid), express delivery note (as the recipient)
Household registration book (if you are not the head of the household, please take a photo of the household home page and your own page together).
Contact the customer service email and fill in the real account application form. Please fill in the application and upload information as required in Pinyin or English.
After successful submission, please check the email in your mailbox.
Market Instruments
RENHE offers a diverse selection of market instruments for traders, encompassing Forex, Commodity, Index, and CFD trading options.
The Forex market allows traders to engage in currency trading.
Additionally, RENHE offers Commodity including gold, silver and oil.
Index trading provides exposure to a basket of stocks representing a specific market or sector, and Contract for Difference (CFD) trading allows for speculation on price movements without owning the underlying asset.
Leverage
RENHE provides traders with the opportunity to utilize leverage up to 100:1, allowing them to enhance their capital utilization and potentially amplify their trading positions. Leverage enables traders to control a larger position size with a smaller amount of capital, thereby increasing the potential for higher returns.
Spreads & Commissions
RENHE asserts its commitment to offering competitive and low spreads to traders as part of its trading services. “Strong trading liquidity can provide customers with the lowest spreads, allowing customers to maximize their foreign exchange trading profits.” Says RENHE.
In terms of commision, RENHE claims to charge no commision for trading, making trading more cost-effective, thereby favouring its clients' profit margins.
Trading Platform
RENHE offers the popular trading platform MetaTrader 4 (MT4) to its users, accessible across multiple devices including mobile phones, PCs, and IOS devices. The availability of MT4 on various devices allows traders to stay connected to the markets, execute trades, and monitor their positions at any time and from any location, providing them with the flexibility and accessibility needed to navigate the dynamic world of online trading effectively.
Trading Tool
RENHE provides traders with a valuable trading tool in the form of a financial calendar. This financial calendar serves as a comprehensive resource that highlights key economic events, data releases, corporate earnings announcements, and other important events that can impact the financial markets.
Education Resources
RENHE provides traders with a free-mode course to better guide its clients. The new free-mode course allows students to choose online courses independently, and can also customize one-to-one foreign exchange training for door-to-door teaching or participate in large group lectures.
Customer Support
RENHE offers comprehensive customer support to its clients. This includes being available 24 hours a day, 5 days a week. Clients can reach out to RENHE through various channels.
The company also provides its physical address.
Registered address: 41 Devonshire Street Ground Floor Office 1, London, W1G 7AJ, United Kingdom
Actual business address: 1-1301, Jiukeshu, Cuijingbeili, Tongzhou District, Beijing, China
Conclusion
In summary, RENHE offers a range of trading instruments, including Forex, commodities, indices, and CFDs, along with the popular MT4 trading platform accessible on various devices. The platform claims to provide low spreads and leverage up to 100:1 to improve capital utilization. Additionally, RENHE offers a financial calendar as a trading tool to help traders stay informed about market events. While these features may appeal to some traders, it is essential to exercise caution when trading with unregulated brokers and to carefully consider the risks involved in trading.
FAQ
Question: Is RENHE regulated？
Answer: No. Their SCB license is a suspicious clone.
Question: What are the market instruments offered by RENHE？
Answer: Forex, Commodity, Index, and CFD.
Question: Does RENHE support MT4 or MT5？
Answer: Yes. MT4 is available.
Question: How can I contact RENHE？
Answer: You can call +86 01021789630, email them through cs@renhetrade.com or visit them at Room 1807, Building 5, Fengtai District, Beijing, 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.
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