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

Radar Brokers

Vanuatu|5-10 years|
Regulated in Vanuatu|Retail Forex License|MT4/5 full license|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|Offshore Regulatory|

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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Broker Information

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Company Name

Radar Brokers Limited

Company Abbreviation

Radar Brokers

Platform registered country and region

Vanuatu

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 4
Previous Detection : 2024-03-28
  • 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!

WikiFX Verification

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Expose
Others

The two Radar Brokersproved to be the same one with a only change of securities traders.

Two Radar Brokers were found to be same one and only securities traders were changed. Let me prove it to you. Here is the screenshot of the first Radar Brokers website www.radarbrokers.com, which has problems. Then the official website posted on the Radar Brokers website is the same. There are pictures and truth. The picture below is from Radar Brokers website. Radar Brokers no more excuse! I know you best. False can't be true Even if you change your securities trader, i still know you. look at the picture below. Solemnly remind everyone of staying away from this platform.

2021-01-01 13:40
Scam

Look at the content of the web of Radar Brokers which is at the bottom of the website. Pictures tell the truth

Everyone should read the contents at the bottom of the Radar Brokers website carefully. The attached picture shows that there is no financial business in mainland China. Therefore, the company's foreign exchange, stock index, crude oil, precious metals, and futures transactions in China are all frauds. I slap my own face on my webpage, the company is bold enough, and everyone can look at the company’s website, there is no record number, no company customer service contact information, no office location, (there is a Singapore office address , Is actually a street name in Singapore). The server of the website often changes countries. The deposit method is to enter a private account, and the private account is frequently changed. If necessary, I can provide it. I was cheated by this company for about 450,000 yuan. They questioned them, asked for a reply, returned my funds to me, and explained to me that Lin Xue, the manager of the company, called the WeChat voice once and said that it would be resolved for me. After that, he would never reply to messages again. Here I am. All the information and other certificates about their company have been saved, and the police are also being contacted

2020-12-06 13:45
Scam

Radar Brokers claims it is an American broker

Subject: Response from the US Securities and Exchange Commission: Dear? ? ? ???? ? Thank you for contacting the U.S. Securities and Exchange Commission (SEC). We are grateful for this opportunity to review your attention to Radar Securities. Please note that our database search shows that this company is not registered with the US Securities and Exchange Commission. The staff of the US Securities and Exchange Commission has determined that (i) the United States without this name Register a securities company, or (ii) there is a U.S. securities company registered with the same (or similar) name.

2020-12-27 14:47
Scam

Purely a scam company, too much evidence to show one by one

This APP is a complete scam. Let’s not talk about whether the transaction on the platform is illegal or not. Let’s take a look at the following pictures. How the company scams everyone’s money. This picture is around 5:30 a.m. on November 18, 2020. The trend chart of crude oil, the company has appeared many times like this trend. You can look at the chart of international crude oil that day and make a comparison. I hope that everyone will not be deceived by this company again. I will expose this company from various channel. I am also one of the victims of this company. I have lost a lot of funds. There is a huge fraud group behind this company. The fraud group, the APP is owned by two domestic companies on the surface, one is called Ruida Global Market Consulting (Beijing) Co., Ltd.; the other is called Raida International Business Consulting (Beijing) Co., Ltd., of which Ruida Global Market Consulting (Beijing) Co., Ltd., in the Beijing Enterprise Credit City website, is suspected of registering as an impersonation and is under investigation. Another company, Radar Brokers, was newly registered at the end of last year, and the two companies belong to the same legal person. Many other illegal evidences of my app are not shown one by one.

2020-12-05 13:34

    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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    easygo
    more than one year
    Big time RED FLAG with Radar Brokers! Deposited $3,000 a month ago and after trying to withdraw, I was only left with $800. Seemed promising at first, but definitely looks like they make it easy to lose money in real trading compared to their simulated stuff. Stay away!
    2024-03-14 17:12
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    FX1192011742
    more than one year
    Never put any stock in anything this Radar Broker says. Its primary goal is to trick you into giving them my money. They did it to me. A lot of pressure was put on me to invest, but I said no.
    2022-12-20 10:57
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