Read our in-depth RightFX review and find out why this broker is not a good option for you. There are many questions when you’re opening a trading account – is the broker regulated? Where is it based? Who is the owner? We’ve answered all these questions for you in our RightFX review.
| Regulated by: | No regulation |
| Headquarters Country: | N/A |
| Foundation year: | 2021 |
| Supported Platforms: | MT5 |
| Minimum Deposit: | $10 |
| Types of Assets: | FX |
| Maximum Leverage: | 1:1000 |
| Demo Account: | No |
RightFX regulation and Security
RightFX broker is very interesting for our review. The company claims to be based in London, but this cannot be true. Every company located in the UK needs to have the FCA regulation. If you check the register of the FCA, RightFX is nowhere to be found.
When it comes to the security of the funds, the broker is equally not transparent. No information can be found about it.
Is it possible to make money with RightFX?
RightFX is a broker that is misleading its clients to be located in the UK. However, no company owner is listed anywhere, nor could we find RightFX in the FCA register. This is most likely another offshore broker with no regulation trying to convince clients of something else. Since the broker has no regulation, if you make a deposit, there is no guarantee that you can ever get your money back in case of an issue. This is why it’s best to avoid unregulated brokers.
Another thing, the broker is offering only the MT5 trading platform. Usually, all the serious brokers are offering MT4 as well since experienced traders enjoy it more. It seems that the broker is targeting clients with less experience that cannot recognize the scam.
If you pay attention to leverage, you will see that the broker is offering very high leverage of 1:1000. This is the way for clients to lose their funds fast.
The broker is offering three types of accounts – Classic, Pro, and the VIP account. The difference is in the minimum deposit and the leverage offered for those accounts. When it comes to payment methods, they are not disclosed. The same stands for fees and commissions for deposits and withdrawals.
When we tried to test the Demo account, we discovered that it’s not working. Be aware of the RightFX scam.
Scammed by RightFX?
What to do if you get scammed by RightFX? There is a solution. You need to file a dispute and request a chargeback. Since the procedure can be lengthy and you need to know where to start, the best is to contact our support team immediately! They will guide you through everything and make getting your money back easier!
Is RightFX a good broker?
RightFX is a broker with unknown headquarters and no regulation. Therefore, we can conclude it’s not a good broker to trade with.
Is RightFX a Scam?
The broker has no regulation, and it’s misleading its clients about being located in the UK. Based on this, we can say that the broker is untrustful and not safe to trade with.
Is RightFX regulated?
No. The broker is misleading its clients to be based in the UK, but it does have FCA or any other regulations. Be aware of this scam broker.
