Relchart Review – No Number Of Fake Ratings Can Save Them Now
Allegedly a home to dynamic global trading, this CFD platform promises to empower you to invest and earn more than you ever could on any other portal. The cutting-edge software advertised should be one of a kind with an admirable amount of addons, tools and analytical options.
This Relchart review breaks down the offer and considers the safety risks, in accordance with what regulatory bodies have published.
|Unregulated Forex Broker
|Is This Company Safe?
|No, as the authorities have confirmed, this firm is a fraudulent one!
|Have Warnings from:
|Web, Desktop app, Mobile
|CFDs (Forex, Crypto, Indices, Futures, Metals, Energies, Stocks)
|Free Demo Account:
|How to Withdraw from This Company?
|You should contact our chargeback professionals for clearing any doubts about payouts and for a chance to get your stolen investment back.
Unlawful Operations Exposed
The default site language is set to Polish, which has immediately prompted us to go through the state regulator’s database. Unfortunately, the only result was the KNF warning. Right after this alert was published, IOSCO has reposted it as an additional action to warn investors.
Please take into consideration the fact that your funds are not safe with this broker. They cannot guarantee segregation of funds as a means of protection and compensation plan in case the firm fails. Additionally, the trading terms work against you, so read on to learn how to recognize and avoid these companies with AnyTrades included.
EEA Zone Targeted
The preferred site language being Polish also implies the targeted audience. It appears that a lot more trading areas are being marked as hunting grounds:
- United States
Don’t be surprised if you are at some point approached by a suspiciously friendly and pushy sales agent. To convince you to invest with their seemingly lucrative proposition, they will promise just about anything. From offering high returns to no fees and guaranteed risk-free trades, there’s a variety of recycled lies with a pattern.
In order not to fall for these petty tricks you should always double check your Forex dealer. However, if you’ve made a mistake of depositing there, do not despair. Our legal experts can help you take back what the cons have stolen.
The first thing you will be greeted with when visiting the Rechart reviews page on Trustpilot is the warning. Website operators warn the audience about detecting a number of false reviews that this broker has attempted to misuse in order to falsely boost their credibility.
The majority of these ratings were deleted by Trustpilot and only the negative ones remain. That’s why the brand sports a poor general rating of 2 stars out of 5. This tells us enough about who we’re dealing with and provides a solid reason why never to invest with them.
Veil Of Secrets Around Costs
Trading terms found on this trading portal are nothing short of either mysterious or worrying. Firstly, documents that should explicitly tell us about the concrete costs and trading parameters are just full of weasel words. That doesn’t help us much in determining the ruling circumstances.
What is evident is the leverage of up to 1:400 being the max ratio. All the other elements of the trading environment are carefully concealed so you don’t get to learn what it will all cost you prior to signing up.
Unless you’re intentionally willing to lose your entire capital, we see no other reason to sign up for this portal. Range of features is quite poor and it is all locked behind a KYC. Furthermore, other available options do not instill a positive impression at all. You’ll shortly see what we’re talking about.
There’s three variations of trading software offered:
- Web trader
- Desktop app
- Mobile app
When you attempt to access the web terminal, you’ll find yourself unable to do anything in the user area unless you perform a detailed KYC. That isn’t the only condition, however. Right after that, you will have to deposit real cash to gain permission to even navigate the user zone. Somewhat similar trading solution is found on another phony site – EmiDeals.
As for the other software versions, there’s links that require you to download a suspicious installation file.
Groups Of Instruments
If there’s one aspect of their offer the site is meticulous about that’s instrument types. Although not as informative as regulated brokers are, at least there’s information on tradable asset groups.
Nothing guarantees their real presence though, as no access to the trading area is granted. Either way, here’s the list:
- CFDs on Forex (EUR/USD, EUR/CHF, EUR/CAD)
- CFDs on Crypto (BTC, ETH, LTC, XRP)
- CFDs on Indices (S&P500, Nasdaq, DAX)
- CFDs on Metals (Gold and Silver)
- CFDs on Energies (oil, natural gas, and coal)
- CFDs on Futures (stock futures, commodity futures)
- CFDs on Stocks (Facebook, Tesla, Amazon)
Three Account Sorts
We can’t exactly agree with the site describing their offer of packages as unique. Bundles don’t even have their prices revealed. Some claim to offer higher leverage, dedicated account manager and live webinars but the probability of these being true is close to zero. All we have to tell you about them is their generic and overused names:
Unsolved Payment Terms
We’re not sure if it’s funny or pathetic that the site claims not to charge hidden fees and costs when all they’re about is anonymity and secrets. The only line that refers to payment costs in the legal texts says that the company has the liberty to deduct any amount necessary for covering the fees directly from the user’s account!
The minimum withdrawal amount is $50 by credit card or its equivalent in your chosen fiat currency. Does that imply the availability of credit card methods is left unclear. It may allegedly take up to 3 business days to process the request.
None of our emails was answered when we tried to establish contact with the Relchart support. Awkwardly enough, we started getting calls as soon as we registered on the site and shared our phone number. That should tell you enough about the customer service not functioning. Only fraudsters trying to extort money from you are diligent enough to be contacted.
Don’t Wait – Take Back What Is Yours!
The worst possible option is for a scam victim to remain silent about the crime they’ve suffered. That way, cyber criminality can flourish and these miscreants get rich quick by ruining the lives of others.
If you’re pondering on pursuing the criminal you should immediately report them to the local financial authorities and police. You should also contact us for advice on what you can do to get ahold of your funds again. All you have to do to is book your free first consultation!
What is Relchart?
This is a fraudulent brokerage brand that claims to be a world leading online trading company but is actually blacklisted by KNF and IOSCO.
Is Relchart Regulated?
No. As a matter of fact, the company lacks any regulation or a legit forex license.
Can I Recover Money from a Scam Broker?
You can contact our legal experts if you wish to know more on this subject and book your free consultation.