RedRock500 Review: Exploring Security Protocols and Trustworthiness

RedRock500 indirectly claims that everyone who doesn’t invest with them can be called a loser. It seems kind of radical to say something like that and expect to have customers. However, we’ve done full-on research and came up with a RedRock500 review with all the details.

RedRock500 Regulations and Security

Providing a false address in Cyprus, the broker misleads people to believe they’re dealing with a Tier1 regulated firm. However, terms and conditions show that governing law would be the law of Estonia. As this country is considered a European safe haven and is not quite known for firm regulatory directives, it means your funds are at risk.

Moreover, Red Rock 500 hasn’t listed the owner, so even if you want to file a complaint, you wouldn’t know against whom.

In addition, we strongly advise you not to invest in OnexCap, EuroFxFinance and CFDAdvanced fraudulent brokers.

RedRock500 Warnings From Financial Regulators

There’s an official warning from the UK regulator FCA in regards to the RedRock500 scam. According to this authority body, RedRock500 operates without a license and defrauded clients are not entitled to the FSCS compensation fund. 

Beware that you’re dealing with a fraudulent firm and avoid it at all costs.

Fund Withdrawal Issues With RedRock500 Broker

First of all, according to the broker’s website, you have to use credit cards as withdrawal methods until all of your deposits are annulled. Once it’s done, you should use E-wallets, while wire transfers should be used as a last resort. It makes no sense as clients should be free to choose the method it suits them the best.

Besides this nonsense clause, clients are massively reporting that their requests were never processed. Even if you agree to use the payment method preferred by the company, you will still struggle to get your funds back.

Areas Of RedRock500 Scams

From everything we’ve seen, it looks like the broker is mainly scamming traders from the Netherlands, Germany, and Austria. On the other hand, FCA warning tells us UK clients are one of its targets as well. Wherever you are, note that Red Rock 500 is a fraudulent firm you shouldn’t invest in.

Also remember the names of the GrandTrade, BitcoinWelt and MyBitChain trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About RedRock500 Scam

According to RedRock500 reviews, traders are complaining about withdrawals, trading platforms, and trading conditions. It seems that the Web trader doesn’t function properly, while the leverage goes to 1:1001, which is exceptionally high and risky. Therefore, you should be careful and report any irregularities immediately.

How Does Online Trading Scam Work?

Nowadays, online trading scams are conducted in many ways. Offshore brokers are often using the fact they’re hard to track, so they run scams. On the other hand, you have companies such as Red Rock 500, who are presenting to be based in the EU, while in fact, we have no information about the owner or the governing law. These brokers are even worse than offshore since they’re hiding everything, and you have no relevant information for the lawsuit.

Once you decide to start trading, make sure to choose brokers with a Tier1 license. These companies have compensation funds of around 700,000 EUR for reimbursing clients.

Scammed by RedRock500? – Tell Us Your Story

If you were scammed by RedRock500 or a similar bogus broker, we might try to help. Contact us via online chat to book your free consultation with our chargeback specialists.

But What Is A Chargeback?

If there is sufficient evidence, your bank can reverse the fraudulent transaction. Since the process is not easy, having someone to assist you with it is of utmost importance. Get in touch with us now, and let’s get your hard-earned money back!