Kazakhstan is an interesting location to pick. We assume RaiseFX chose this area to seem more convincing. Also, they might have thought site visitors wouldn’t check with the jurisdictional regulator if RaiseFX is licensed at all.
By the statements on the RaiseFX site, this company is by all means regulated by the financial authority of the Republic of Kazakhstan. The scammer even goes as far as attempting to forge a certificate issued by the supervisory body of the Republic of Kazakhstan.
Unfortunately for RaiseFX, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has never issued a license for the RaiseGroup LLP company.
Keep reading this RaiseFX review and we will let you know how to check every broker easily on your own.
|Phone||+44 20 45 79 80 75|
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RaiseFX Regulation and Security
Many fraudulent brokerage organizations lie about having licenses and even forge certificates to convince their potential customers to deposit. RaiseFX is one such cheater.
If you go to the RaiseFX site you will find their poor attempt at faking a license. Too bad that the regulatory body in Kazakhstan does keep a register of legitimate brokers.
A quick scan showed us that RaiseFX doesn’t really own a business permit from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.
Although far loose compared to EEA, UK, US, and AU licensing standards, some offshore financial institutions still supervise brokerage activity in different areas. Since RaiseFX does offer its services in the EEA, we had to check several more registers. BaFin, AMF, CySEC, CONSOB, FINMA, and CNMV – reputable regulators, have never given them a license either.
All this only implies that RaiseFX doesn’t provide the safest depositing measures through segregated bank accounts. Your funds will be on the line for the fraud to claim.
The leverage that RaiseFX approves goes up to 1:400. Every regulatory body we mentioned obligates brokerage sites to limit their leverage to 1:30 or 1:50 to lower the risk of loss. RaiseFX wants you to lose, that’s why they provide insane leverage.
Legal broker-dealers have to report every single transaction in due time to their financial supervisors. This method requires transparency, and RaiseFX hardly leaves anything to chance. They are completely anonymous and carefully protect.
Trading Software Used by RaiseFX
Here comes the main surprise of the day – RaiseFX actually offers MT4 as a trading platform. As a matter of fact, you can download a version for every device. Installation works and the software is labeled as RaiseFX trader.
As surprising as it may seem, it’s particularly frequent for scammers to use even prestigious trading software, all just to seem more convincing. Won’t their victims be more likely to believe them if they have top-notch software available? While this misuse of premium platforms is a bad way to advertise them, it’s still a common occurrence.
Bear in mind that RaiseFX is still unregulated and untrustworthy, despite using one of the best trading terminals today and you should avoid them at all costs.
Account Types Available at RaiseFX
Based on your preferred currency, there are three account types at RaiseFX:
- EUR Account
- GBP Account
- USD Account
RaiseFX doesn’t really specify the exact trading conditions that each account type offers. Except for the leverage of up to 1:400, deposit requirement of 200 EUR/GBP/USD, and the same trading instruments that are the same for all three accounts.
Apart from this, you can also choose between a Live and Demo trading account, as well as an Individual and Corporate account. You get this choice upon joining.
Deposit and Withdrawal Method
Turns out that regardless of the account type you choose, you have to make a deposit before you’re allowed to trade. The smallest amount to fund your account is 200 GBP/USD/EUR. Transfers are available through the following channels:
- Credit/debit cards (Visa, MasterCard)
- Bank wire transfer
- Crypto depositing
RaiseFX likes you to believe that depositing is safe, fee-free and instant, as well as every withdrawal. Don’t forget that they’re still a fraud, as this RaiseFX review proves.
If possible, crypto depositing should always be avoided. Reputable and honest brokerage enterprises offer various depositing ways and they’re fully transparent considering all the conditions around transactions.
Offshore Brokers’ Tactic to Steal Your Money
Kudos to RaiseFX for how convincing they are. The site not only forges a certificate but also offers a world-class trading platform and several methods of account funding. For the complete impression they also have a detailed web presentation with a multilingual layout.
That’s why RaiseFX is a good example to show how far frauds go to make their clients blindly trust their guidance. We have no doubts their phone agents are so well trained they have no trouble earning their victims’ trust. What comes after is disturbing and cruel manipulation and mind games that end with the investors losing all they have.
After you’ve exhausted your depositing capabilities, your account manager or agent will turn a cold shoulder and change their attitude completely. Withdrawals will never work and you will soon be left desperate, indebted, and empty-handed.
Suggested Forex Brokers
RaiseFX may seem legitimate at first but they still lack a broker’s license. Not only that, but the missing transparency and no legal documents and policies on the site inevitably prove the site is illicit.
We can nominate several better candidates for you to compare between and pick from. If you at least visit their official websites and create Demo accounts with each, you will get a chance to experience how fair and secure trading works.
You don’t even have to invest if you do not wish to, or if you decide that their offer doesn’t meet your standards. Nonetheless, you will have a unique possibility to test out their trading environment and be convinced in their excellence.
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|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
RaiseFX is undoubtedly an anonymous offshore agency with clear scamming tendencies – our review examines this in detail. We’ve also given proof of their illegitimate business and how they do not conduct transactions in a transparent way.
Since RaiseFX does not follow any regulatory directive, they are not obligated to provide the safety of funds, enhanced customer protection, and secure transactions.
Again, we have to implore you to always check with jurisdictional regulators if your potential broker choice is a legal entrepreneur or a phony. Licensing organizations give clear directions on how brokerage houses have to perform all their activities.
RaiseFX does not abide by any regulatory laws so they can scam you and you will not be protected. Whatever happens, do not put your trust in recovery agents either. They’re just another form of scam!
FAQs About RaiseFX Broker
Is RaiseFX Regulated?
RaiseFX does not have a license and neither are they regulated. Their entire story is built on a lie, so do not place your trust in them.
What Are The Funding Methods for RaiseFX?
Available methods for account funding are credit/debit cards, bank wire transfers,s, and cryptocurrencies.
What is the Minimum Deposit for RaiseFX?
Joining with a live trading account costs 200 EUR/USD/GBP, depending on which account type you prefer.