Rivobanc Review – A Broker With A Bad Reputation

Rivobanc is one of the most anonymous brokers with headquarters in Europe. They claim to have headquarters in Switzerland. It’s known for very strict regulations and very rich country. With an attractive offer, but not-so-good reviews this broker is not your best choice.

As known as a business country, Swiss is an overall hub for legitimate business ideas. If that’s the case with Rivobanc you can find it in our latest Rivobanc review.

What is more, we strongly advise you not to invest in MountainWolf, 365trading and FinuTrade fraudulent brokers.

Is Rivobanc Broker a Fraudulent Company?

Generally speaking, Europe has one of the strictest regulators. The reason for that is the many scams that happened in recent years. So, to check if Rivobanc broker is a trusted one we will check first the Finma database. Sadly, this allegedly Swiss-based company is not even in a commercial register.

Broker without regulations. Multiple warnings from financial watchdogs. Extremely high leverage. Non-transparent trading conditions not following ESMA rules. Many negative reviews.

Another place we were hoping to find some information is the Tier 1 regulator’s registers. For instance, FCA, BaFin or ASIC. Yet, all those were without any results about Rivobanc licenses. Therefore, you have already one sign that this is a scam.

Financial Watchdogs’ Cautions

Another confirmation of investment scams comes from multiple warnings. Institutions like FCA, Finma and FSMA have issued a public statement about the fraudulent activities of this broker.

Therefore, if you were still thinking to invest money here, better not. Instead, be patient and take your time until you find a well-regulated broker.

The Opinions of Traders On about Rivobanc

If there are not enough clues for you still, take a look at the Rivobanc reviews. Only on the Trustpilot platform, there are already 55 comments.

The broker is in the business for less than 1 year and more than 30% are 1-star-rated comments. Thus, those are the people who wanted to help other traders. There are most probably many more that never shared their experience.

Trading Platform and Other Apps on Rivobanc

The trading platform with Rivobanc is their proprietary web trader app. On top of that, they claim to offer Meta Trader 5.

It is suitable for most traders, but to check if that’s true you must register with the broker. Moreover, Meta Trader 5 is available for all mobile devices, which makes it more favorable.

AnyDesk and TeamViewer

Here comes an interesting part. This broker advertises on their website remote controlling software. Primarily AnyDesk and TeamViewer.

In fact, that’s exactly how these scammers get all information they need. From passwords, banking details and more. So, be careful to whom you are giving access to your devices.

Rivobanc’s Trading Assets and Instruments

As we can see there is only one positive thing about Rivobanc trading company. They offer a wide range of trading assets.  There are 5 major groups available:

• Forex                        USD/EUR, GBP/HKD, AUD/SGD
• Commodities            natural gas, coffee, soybeans
• Shares                      Cisco, Netflix, Shopify
• Cryptocurrencies       BTC, ADA, SOL
• Indices                      DAX 30, Nikkei 225, Dow Jones

Thus, it’s sad that you can’t put those to the proper use since you can’t get the profits out.

Rivobanc Countries Of Service

Many brokers don’t hesitate to scam traders from strictly regulated countries. This is the case with Rivobanc broker as well.

They are mainly scamming traders from:

• United Kingdom
• Spain
• Netherlands
• Canada
• Ireland

Luckily, there are solutions to recover your money if you were scammed by this broker.

Rivobanc List of Account Types

At least one thing is for sure with Rivobanc trading company. Their trading account types present you with information about how much money they want to rip you off. They promise signals, educational programs, broker assistance, bonuses and insurance. All that, just to make you deposit as much as possible.

You can choose between:

• Basic            250 EUR
• Silver            5.000 EUR
• Gold             15.000 EUR
• Platinum       100.000 EUR
• VIP               250.000 EUR

Can a Trader Use a Demo Account?

The problem with this is that broker doesn’t reveal this information transparently. However, in T&Cs they have a statement that by agreeing to those you confirm that you got an opportunity to trade with a demo account.

But you accept T&Cs during the registration, not afterward. Therefore this becomes even more suspicious.s

Terms of Service for Rivobanc

Rivobanc broker is overly suspicious. It’s no wonder that they got so many warnings already. All their T&Cs are questionable.

As for funding methods they accept:

• Debit/credit cards
• Wire transfers
• Leading Cryptocurrencies

But watch this nonsense. Non-deposited funds including profits gained are not clients’ funds. There is a malicious clause that prevents traders from making withdrawals. Some of those are bonus funds, that are strictly forbidden across Europe.

Leverage, Spreads and Fees

As EU-based broker trading in the EEA zone, they must comply with ESMA rules. Those allow maximum leverage of 1:30. Thus, Rivobanc provides up to 1:500.

As for spreads and fees, these remain unknown with this anonymous broker. Compared to any other Tier 1 regulated broker they have nothing to offer.

Scammed by a Rivobanc Broker? – We Want To Hear Your Story.

Tell us more about your experience with this swindler. If you were facing withdrawal issues, there is a solution to recover money. Since they don’t have monitoring from any financial institution you as a trader don’t have protection.

Luckily, you have different solutions depending on the funding method.  For card transactions, there is a chargeback. But for crypto transactions, there is CipherTrace software. Either way, it’s better to let professionals do that before you lose a chance to get funds at all.

What Is the Chargeback Procedure?

Once you reverse a card transaction that is called a chargeback. Usually, cardholders file such requests. But also merchants can do that.

Nevertheless, you are limited to filing a request only in the first 18 months. Therefore, get in touch with our fund recovery team to get started already today.