Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Rich Mass

Hong Kong|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

http://www.richmasshk.com

Website

Rating Index

Contact

support@richmasshk.com
http://www.richmasshk.com

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

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-02-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Users who viewed Rich Mass also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

MultiBank Group

8.59
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

FXCM

9.46
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

GTC

8.15
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)MT4/5 full license
Official website
Pyramid scheme complaint
Expose

Rich Mass · Company Summary

Aspect Information
Registered Country/Area Hong Kong
Founded year 2-5 years
Company Name Rich Mass (HK) Limited
Regulation Not regulated, potential risks
Minimum Deposit $100
Maximum Leverage Up to 5:1
Spreads 0.10% - 0.25% for most stocks and ETFs
Trading Platforms Rich Mass Pro, Rich Mass Basic, Rich Mass Mobile
Tradable assets Equities, Fixed Income, Derivatives
Account Types Checking Account, Investment Account, Business Account, IRA Account
Demo Account Not mentioned
Islamic Account Not mentioned
Customer Support Email: support@richmasshk.com
Payment Methods Wire Transfer, ACH Transfer, Check
Educational Tools Not mentioned

Overview of Rich Mass

Rich Mass (HK) Limited, established in Hong Kong for 2-5 years, offers diverse investment options across equities, fixed income, and derivatives. Equities encompass stocks, ETFs tracking varied portfolios, and ADRs for foreign company shares. Fixed income includes bonds, short-term notes, and bank-issued CDs. Derivatives span options, futures contracts, and swaps.

Account types cater to different needs: a checking account provides basic banking services, an investment account allows commission-free trading with retirement tools, a business account offers no-fee services, and IRAs address retirement planning.

Leverage of up to 5:1 is available, with spreads of 0.10% to 0.25% for most stocks and ETFs, and a $4.95 commission for trades. Deposit/withdrawal options encompass wire transfers, ACH transfers, and checks, with varying fees. Rich Mass offers trading platforms for different skill levels: Rich Mass Pro for experienced traders, Rich Mass Basic for beginners, and Rich Mass Mobile for on-the-go trading. However, Rich Mass operates without valid regulation, potentially posing risks. Reviews suggest caution due to withdrawal challenges and unexpected losses.

basic-info

Pros and Cons

Rich Mass offers diverse market instruments including equities, fixed income, and derivatives, while also providing commission-free trading. It features multiple account types such as checking, investment, business, and IRA. Leverage of up to 5:1 on margin accounts is available. The platform boasts user-friendly trading platforms, including Rich Mass Pro, Basic, and Mobile. It also offers a variety of retirement planning options through IRAs. However, it's worth noting that Rich Mass operates without valid regulation and its main website is inaccessible. Customer support options are limited, and there are problematic user reviews concerning withdrawal and investment guidance. Additionally, the platform has limited withdrawal and deposit methods, and there is a $2.50 fee for check deposits and withdrawals.

Pros Cons
Diverse Market Instruments (Equities, Fixed Income, Derivatives) Operates without valid regulation
Commission-Free Trading Main website inaccessible
Multiple Account Types (Checking, Investment, Business, IRA) Limited customer support options
Leverage Up to 5:1 on Margin Accounts Problematic user reviews on withdrawal and investment guidance
User-Friendly Trading Platforms (Rich Mass Pro, Basic, Mobile) Limited withdrawal and deposit methods
Variety of Retirement Planning Options (IRAs) $2.50 fee for check deposits and withdrawals

Is Rich Mass Legit?

Rich Mass operates without valid regulation, posing potential risks to investors and traders. It is important to exercise caution and carefully consider the implications before engaging with their services.

regulation

Market Instruments

EQUITIES

Equities offered by Rich Mass include a variety of stocks, representing ownership shares in different companies. Additionally, they provide Exchange-traded funds (ETFs), which track diverse stock portfolios, and American depositary receipts (ADRs) that enable access to shares of foreign companies.

FIXED INCOME

Within the realm of fixed income, Rich Mass offers bonds, which are essentially loans issued by various entities such as governments and corporations. They also provide short-term debt instruments known as notes, issued by both governments and corporations, as well as Certificate of Deposits (CDs) issued by banks.

DERIVATIVES

Rich Mass deals in derivatives, which encompass options, allowing contract holders the right to buy or sell assets at predetermined prices and dates. They also facilitate futures contracts, which bind the holder to buying or selling an asset at agreed-upon prices on specific dates. Swaps are another derivative offered, permitting parties to exchange payments based on predetermined formulas.

Pros Cons
Diverse Market Instruments (Equities, Fixed Income, Derivatives) Operates without valid regulation
Commission-Free Trading Limited information on trading volume and market depth
Variety of Retirement Planning Options (IRAs) Limited information on margin requirements and contract specifications

Account Types

CHECKING ACCOUNT:

Rich Mass offers a checking account with a minimum balance requirement of $100. Account holders can take advantage of a modest 0.01% APY interest rate and access some features such as online banking, bill pay, check writing, and a provided debit card. It's important to be aware that each ATM transaction comes with a $2.50 fee.

INVESTMENT ACCOUNT:

Exploring the world of investments, Rich Mass provides an investment account that mandates a minimum balance of $1,000. What sets this account apart is its commission-free trading, giving account holders the ability to explore a diverse range of investment products. To assist investors, the platform also offers retirement planning tools and the option to seek financial advice.

BUSINESS ACCOUNT:

Designed for businesses, Rich Mass introduces a business account that requires a minimum balance of $500. Notably, this account comes with no monthly fees. It provides unlimited check writing capabilities, a debit card, and facilitates online banking, bill payment services, along with merchant services.

IRA ACCOUNT:

Rich Mass addresses retirement planning needs through various types of Individual Retirement Accounts (IRAs), including Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, and Rollover IRA. Each IRA type serves distinct purposes.

Pros Cons
Offers various account types (Checking, Investment, Business, IRA) Limited customer support options
Commission-free trading $2.50 fee for check deposits and withdrawals
Provides retirement planning options (IRAs) Limited withdrawal and deposit methods

Leverage

Rich Mass offers a leverage of up to 5:1 on margin accounts. This means that for every $1 you deposit, you can borrow an additional $4 to trade with.

leverage

Spreads & Commissions

Rich Mass offers spreads of 0.10% to 0.25% for most stocks and ETFs. They charge a commission of $4.95 per trade for stocks and ETFs.

Deposit & Withdrawal

Rich Mass allows deposits and withdrawals via wire transfer, ACH transfer, and check deposit/withdrawal. There is no fee for wire transfers or ACH transfers. There is a $2.50 fee for check deposits and withdrawals. The minimum deposit amount for a Rich Mass account is $100. There is no minimum withdrawal amount.

Pros Cons
Offers wire transfer, ACH Limited information on withdrawal methods and processing times
No fees for wire transfers and ACH transfers $2.50 fee for check deposits and withdrawals
No minimum withdrawal amount Limited transparency on overall processing and policies

Trading Platforms

Rich Mass Pro: This platform is designed for experienced traders and offers a wide range of features, including real-time quotes, charting tools, and advanced order types.

Rich Mass Basic: This platform is designed for beginner traders and offers a simpler interface with fewer features.

Rich Mass Mobile: This platform is designed for traders who want to trade on the go. It offers a mobile-friendly interface and access to all of the same features as the Rich Mass Pro platform.

trading-platform

Customer Support

Rich Mass provides customer support through the email address support@richmasshk.com, offering a direct channel for clients to reach out for assistance and inquiries.

Reviews

Reviews on WikiFX regarding Rich Mass indicate problematic situations. One user experienced challenges with withdrawal after being influenced by a WeChat contact's investment guidance. Another suffered losses despite initial gains based on a professional teacher's stock recommendations. These reviews emphasize potential risks associated with the platform.

reviews

Conclusion

In conclusion, Rich Mass (HK) Limited, operating for 2-5 years in Hong Kong, presents both advantages and disadvantages. On the positive side, Rich Mass offers a range of market instruments including equities, fixed income products, and derivatives. The account types include checking, investment, business, and IRA accounts, each catering to specific needs. Leverage of up to 5:1 is available for margin accounts, and the trading platforms, such as Rich Mass Pro and Rich Mass Mobile, offer varying levels of sophistication. However, there are notable drawbacks. Rich Mass lacks valid regulation, potentially exposing investors to risks. The absence of a main website raises concerns, and problematic user reviews highlight issues like withdrawal challenges and losses. Caution is advised for those considering engagement with Rich Mass's services due to these potential risks and limitations.

FAQs

Q: What types of market instruments does Rich Mass deal with?

A: Rich Mass offers equities (stocks, ETFs, ADRs), fixed income (bonds, notes, CDs), and derivatives (options, futures, swaps).

Q: Is Rich Mass a legitimate company?

A: Rich Mass lacks valid regulation, raising concerns about legitimacy. Caution is advised when considering their services.

Q: What types of account does Rich Mass offer?

A: Rich Mass provides checking, investment, business, and IRA accounts, each with distinct features and requirements.

Q: What leverage does Rich Mass offer on margin accounts?

A: Rich Mass offers a leverage of up to 5:1 on margin accounts.

Q: What are the spreads and commissions at Rich Mass?

A: Rich Mass offers spreads of 0.10% to 0.25% for stocks and ETFs, with a commission of $4.95 per trade.

Q: How can I deposit and withdraw funds with Rich Mass?

A: You can use wire transfer, ACH transfer, or check deposit/withdrawal with Rich Mass. Wire transfers and ACH transfers have no fees, while checks have a $2.50 fee.

Q: What are the trading platforms provided by Rich Mass?

A: Rich Mass offers Rich Mass Pro for experienced traders, Rich Mass Basic for beginners, and Rich Mass Mobile for mobile trading.

Q: How can I contact customer support at Rich Mass?

A: You can reach Rich Mass customer support through the email address support@richmasshk.com.

Q: Are there any reviews about Rich Mass?

A: Reviews on WikiFX highlight potential issues, including challenges with withdrawal and losses despite stock recommendations.

Broker Information

Company Name

Rich Mass (HK)Limited

Company Abbreviation

Rich Mass

Regulatory Status

No Regulation

Platform registered country and region

Hong Kong

Company website
Phone of the company

--

Twitter

--

Facebook

--

Instagram

--

YouTube

--

Company address

--

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • support@richmasshk.com

Company Summary

User comment

0

Comments

Write a review

No comment yet

start to write first comment

2
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;+44-7517747077
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com