Ruby Finance Review – Trading Strategy or Scam Scheme?
Ruby Finance broker positions itself as a reliable and secure financial company. They promise to help you with “trading strategy” and “personal trading style.” However, we would like to reveal a few secrets of the broker before you make a final decision on cooperation.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||Commonwealth of Dominica|
|Supported Platforms:||RubyTrader (Web)|
|Types of Assets:||Currencies, Stocks, Commodities, Indices|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About Ruby Finance Regulation?
Ruby Finance broker claims to be operated by Inure Consulting LTD at 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. This allows us to assume that an offshore authority licenses the company. By the way, many scam brokers are registered by offshore-based financial authorities. Although the Commonwealth of Dominica has its own Community Financial Services, this organization is not a regulator but the Federal Credit Union. They don’t register or supervise brokers and private equity firms. This means that the Ruby Finance broker has no “local” regulation.
Ruby Finance Warnings From Financial Regulators
To make our Ruby Finance review 100% impartial, we checked the databases of all financial authorities with a high trader trust rating. However, we could not find any signs indicating that the broker has at least a license. Moreover, in the terms and conditions of cooperation, we noticed a mention of the Polish court. Does this mean that the broker is subject to the rules of a reliable European regulator? We checked the official website of The Polish Financial Supervision Authority but found nothing about Ruby Finance or Inure Consulting LTD.
By the way, the broker was recently caught participating in the Google DE advertising campaign launched by Sunny Investments. Fake review website www.sunny-investments.com has unveiled a new advertisement related to cryptocurrencies. After registering for Bitcoin Prime on third-party resources, people interested in a profitable offer are redirected to the payment page of the Ruby Finance website. While authorities in the UK and Ireland have already taken action against unregulated financial advertising like Sunny Investment, Germany’s BaFin is still not taking action. In any case, Ruby Finance significantly damaged its reputation when it participated in a campaign started by the website that didn’t pass KYC verification.
Problem With Withdrawing Funds
Most of the Ruby Finance reviews we found online indicate that traders have serious withdrawal problems. This is not surprising since the broker has no regulation. Obviously, being outside the oversight, the company owners are free to do whatever they want with the money of honest investors.
Who is at Risk of Being Scammed?
While investigating the worldwide web for detailed information, we came across many Ruby Finance complaints. Here are the top 5 countries whose citizens most often suffered from the fraudulent activities of an anonymous foreign organization:
Traders About Ruby Finance Scam
Most of the reviews of real clients about cooperation with Ruby Finance broker are absolutely negative. Traders share their complaints about the broker that provides fake reasons why clients cannot withdraw money and blackmail them, forcing them to pay commissions and additional fees.
How Does the Scam Scheme Work?
Actually, Ruby Finance uses a typical scam scheme that is nevertheless effective. First, managers provide customers with high-quality service and offer to make modest deposits. Then when you are sure everything is going well, they start doing their best to get you to invest as much money as possible. Finally, company employees ignore you when you encounter withdrawal issues. Obviously, most likely, your money has never been involved in trading. Using a proprietary platform called RubyTrader allows scammers to steal quickly and effortlessly.
Beware of Extra Fees Before Withdrawing Funds
According to the terms and conditions document, the company is not responsible for additional fees charged by banks. As we found out, this is an absolute lie because the main complaint of investors about the broker is the inability to withdraw money until they pay extra fees. Remember that brokers are not entitled to withdrawal fees unless they have made this condition clear in the official documents. Unfortunately, unregulated fraudulent organizations cannot be controlled in their actions regarding charging extra fees.
But What Is A Chargeback?
Currently, a chargeback is the fastest way to return misappropriated money to its true owners. According to various statistics, this refund method always occupies a leading position in cases with fraudulent brokers.
Scammed by Ruby Finance? – Tell Us Your Story
If you have any Ruby Finance complaints feel free to contact our managers. Sign up for a free consultation and share your story. Our team consists of certified professionals who are ready to apply all their knowledge and skills to help you restore financial independence.
What Is Ruby Finance?
Ruby Finance is an unregulated offshore investment company that cannot be trusted due to many retail traders’ complaints about the broker.
Is Ruby Finance A Scam Broker?
While collecting the evidence, we’ve found many reviews of victims of the fraudulent actions of the organization. That fact indicates that Ruby Finance is a 100% scammer.
Is Ruby Finance Regulated?
No, the broker does not possess any reliable license and is not controlled or audited by reliable financial authorities.