RMD Traders Review – Investment Gateway To Financial Misfortune

RMD Traders is owned by RMDTRADER incorporated and licensed in Mauritius. This should immediately raise a red flag, as it’s well known how loose the jurisdictional regulator there is. Their claims about astonishing trading conditions and lucrative features should be taken with a grain of salt. 

After all, the site that hasn’t been updated since last year doesn’t really leave an impression of a trading place frequented by many traders.

Our RMD Traders review investigates what conditions truly rule their servers and how safe their site is.

Lax Offshore Regulation

In 2019, RMDTRADER was incorporated in Mauritius and licensed by FSC. However, knowing what low regulatory standards rule this offshore zone, it is not the safest place to recommend for trading. 

Firstly, the broker doesn’t hold any other license except the offshore one. In this case, it would be desirable to own a Tier 1 regulation from FCA, BaFin, CySEC, FINMA or similar. 

Going through their registers, we’ve established that RMD Traders only relies on the offshore license which is as good as a piece of paper. Especially in terms of funds’ safety, compensation plans, and risk-reduction measures. 

Additionally, offshore firms are known to bypass AML measures and display a disturbing lack of transparency considering all the aspects of their conduct – from corporate information to exact trading parameters. 

Global Coverage

Although the broker doesn’t own appropriate licenses for all their zones of activity, they do not shy away from offering services to a vast number of countries:

• Sri Lanka
• Switzerland
• India
• United States
• South Africa

This happens because the broker often advertises on social networks and promises quite attractive trading conditions.

Less informed traders and rookie investors are more prone to quickly believing these claims and put their money into the scheme. The results aren’t always beneficial to the traders themselves. Quite the contrary – brokers usually profit far more.

Trading Data Missing

Opening a RMD Traders account is not doable at the moment. Therefore we couldn’t dig out any trading info except the one given on the site. However, the site only publishes recent market changes in terms of prices. 

Other details like commissions and spreads are completely omitted from the web presentation. We’ve only found out that the maximum leverage is 1:500. RightFX offers even higher leverage and just as risky trading conditions.

Unclear Bonus Policy

Bonuses and promotions, although banned in the UK and EEA, are known to be used as a way to attract customers. RMD Traders reward clients with sums up to $2.500. However, the exact withdrawal terms aren’t presented and the whole deal about this feature is quite confusing. 

Unprovable Claims About Features

The website brims with statements about the prestigious platform available, as well as a variety of financial products. Unfortunately, none of it is available for testing. Account opening is not possible at the moment of this review.

Promises of MT5

There’s no trader that hasn’t tried MetaTrader 5 at some point of their investment endeavors. RMD Traders could be only offering this software because it is so widely popular and used. There’s no way to confirm if this platform was ever available for trading. 

The biggest obstacle for determining that is the fact that you need an account first. You aren’t able to open it however, as this feature is non-functional at the time being. 

10.000+ Assets

It seems quite easy for RMD Traders to throw around claims. This time they relate to the number of available instruments. Divided into groups, their offer of financial products looks like this:

• Forex (EUR/USD, USD/JPY, EUR/ZAR, USD/CAD)
• Indices (Nasdaq, Dow Jones, CAC, HK)
• Shares (Caterpillar, 3M, Boeing, Porsche)
• Commodities (Gold, Sugar, Natural gas)
• Crypto (BTC, ETH, LTC, DOT, XRP, SOL)
• ETFs (Vanguard Total Bond Market Index Fund, United States Oil Fund)

Big-budget Account Types

Without much clarification about what exactly each account offers, RMD Traders charges ridiculous sums per package. It’s a question if these expensive services are available in the first place, considering that account registration is closed at the moment. Here’s the prices:

• Swap-Free: $50 – $100,001+
• Standard: $50 – $25,000
• Pro: $25,001 – $100,000
• Vip: $100,001+

Withdrawal Difficulties

Transparency seems to be the major issue at RMD Traders. The scarce information presented in the T&C that concerns money transfers doesn’t reveal much. 

Funding methods available are claimed to be debit card, wire transfers, and e-wallets. Without access to the client zone, we could not confirm this. 

The single line pertaining to withdrawals says that the minimum amount for a payout is $25 and that the transfer is processed within 3 days.

RMD Traders Support

Despite not having an online chat feature, the site allows these methods for establishing contact:

• Online Form
• Email
• Phone

The site itself hasn’t been updated since some point in 2022. Therefore, we doubt the customer service is anyhow diligent in tending to customers’ needs.

Find Proper Legal Support

If you have become one of the customers reporting issues with RMD Traders, please feel free to contact our support crew. By using the Online chat feature, you can get connected to an agent quickly and book your free consultation. 

We work tirelessly to help traders in disdain and enable them to recover the funds lost to questionable brokers like RMD Traders, Binatex and others. No need to feel shame for being defrauded. It is better to share your experience and get help, than wait and never regain your lost capital again. 

FAQ Section