Read Ravefxtrades Review to know about the scam activities of the broker. File Complaint for a free consultation for getting money back from the scam broker. There are many types of scam brokers in the market like Forex scams, Binary Trading scams, Cryptocurrency scams and others. Let us read the Ravefxtrades Review and know about the scams.
Ravefxtrades Website – http://ravefxtrades.com/
Ravefxtrades Address – Sacramento, CA 821001, USA
Warnings Against Ravefxtrades – Malta Financial Services Authority (Malta)
Ravefxtrades Review: Introduction
Ravefxtrades is a brand of Rave Fx Trades LLC and RFXT Ltd. Its office is in Sacramento, CA 821001, USA (this is the fake office address as no building name/plot number, no location/area name, and no street name). Their phone no was +1 416 619 9247 (presently not working), and their email ID: was firstname.lastname@example.org. And website ravefxtrades.com is not working and is down. The platform is registered in Canada.
Ravefxtrades Review: Regulation status
The website claims that it has FCA regulatory license (No. 595195), but it is suspicious and is a clone. It also claims to have a trading license (No 131055) from BaFin which is also not true. It also claims to have a license (No 74397) from French regulators, which is a suspicious clone. All licenses are supposed to be obtained in 2013.
Ravefxtrades Review: Operation
The company Ravefxtrades is operating in the USA but is operated from Canada. They were dealing in forex trading and cryptocurrency mining. The company assured that investors can invest at any time. Ravefxtrades claims it is in the industry for 7+ years.
The platform boasted of having more than 100 tradable assets and a training course that is the best in the world. Their purpose was that the customer should have a solid foundation before he/she jumps into the market.
MFSA (Malta Financial Services Authorities) does not license Rave FX Trades. It has issued a warning against Ravefxtrades for conducting illegal and unlawful business in its country. The website claims that MSFA is a Canadian regulator which is untrue. Canada’s regulatory body is IIROC (Investment Industry Regulatory Organization of Canada).
Ravefxtrades Review: Trading Platform
Ravefxtrades does not use the MetaTrader platform for its trading. The software it is using does not have negative balance protection. The customers can end up losing more money than they have deposited earlier. There are hidden charges and they keep on changing their terms and conditions without notifying anyone.
Since the company is unregulated it has not deposited any capital as per jurisdictions norms. In case the company files for bankruptcy customers will not get any compensation.
The owner and chief operating staff members are not displayed anywhere on site. The website is down and the company can close down at any time.
Always remember to invest/trade with those brokers who are regulated by a known financial regulator like FCA, SEC, CySEC, BaFin, CONSOB, AMF, FSMA, FSB, etc. You will have peace of mind and enjoy various trading conditions knowing that the trading platform will not close down abruptly.
Why not trade through Ravefxtrades scam broker?
- Regulation status is suspicious. Most of those are clones.
- The website is down and not working at present. Even the phone is not working.
- The company’s physical address is not mentioned. Even who is the owner is not mentioned. No details or profile about the company operating staff and higher authorities.
- Approaches victims through social media platforms (Facebook, Instagram, Twitter), along with online forums.
- Collets your personal data and sell’s it to other scammers or in the grey market.
Did Rave FX Trades scam you?
If you are a victim of Rave FX Trades do contact us immediately. Or file a complaint at our site https://lucenteq.net/. We are a team of fund recovery experts. We deal with these types of scammers and know how they operate. They leave behind them a trail which we pick up and nail those scammers. We operate internationally through our affiliates.
Before investing, read reviews of different brokers, see our section scam brokers 2022. You will find umpteen number of scam/fraud brokerage companies. Protect yourself.
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