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RIMarkets
Rating: Rated with 1.5 stars
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
Regulated Broker
No

RIMarkets Broker Review

  1. RIMarkets

    Established in 2018, RIMarkets is an unlicensed Forex and Cryptocurrency broker, providing online trading with zero % commission on the MT4 suite of platforms. RIMarkets is available in English and Russian, with live trading accounts from $250, and more than 350 diverse tradeable products across Forex, cryptocurrencies, indices, commodities and stocks. RIMarkets welcomes customers resident in South Africa and provides 24/5 customer support over a telephone hotline located in South Africa.

    RIMarkets Trading Accounts

    Customers at RIMarkets can choose from three types of trading account (Silver, Gold and Platinum) all with zero % trading commission. The minimum deposit required to open a trading account is not published on the website. However, we discovered that a $250 initial deposit is needed to open a Silver account and customers can request the exact deposit amounts for each account, by contacting RIMarkets directly from the contact page. Notably, pip spreads and leverage ratios are determined by the trading account type. Swap free Islamic accounts are available on request, conforming fully with Sharia Law.

    RIMarkets Silver Account Features

    • Contact support for info about initial deposit requirement
    • Spreads for EUR/USD 3 pips
    • Leverage 1:50 for metals, indices and commodities
    • Leverage 1:20 for stocks/equities
    • Leverage for FX trading up to 1:200
    • 24/5 customer support
    • Islamic account version available
    • Narrower spreads from trading to fifth decimal
    • Hedging allowed
    • Withdrawals processing takes up to 5 days

     

    RIMarkets Gold Account Features

    • Maximum 1:400 leverage on FX trades
    • Leverage 1:100 on indices, metals and commodities
    • Leverage 1:40 on stocks/equities
    • EUR/USD spread at 2.5 pips
    • 24/5 customer support
    • Personal account manager
    • Access to free webinars and video tutorials
    • Swaps discounted by 25%
    • Islamic account version available
    • Trading with the 5thdecimal cutting trading costs
    • Hedging allowed
    • Withdrawals processing takes up to 5 days

     

    RIMarkets Platinum Account Features

    • Maximum 1:500 leverage on FX trades
    • Leverage 1:125 on metals, commodities and indices
    • Leverage 1:50 on stocks/equities
    • EUR/USD spread at 2 pips
    • Personal account manager
    • Free VPS available
    • 24/5 customer support
    • News alerts sent to clients directly
    • Hedging allowed
    • Trading costs reduced due to 5th decimal
    • Access to free webinars and video tutorials
    • Swaps discounted by 50%
    • Islamic account available

     

    RIMarkets Customer Awards

    A lucrative ‘Award program’ is operated for loyal customers of RIMarkets. Program members in South Africa, receive bespoke bonus payments and financial awards, designed to give clients a boost in trading capital, thereby adding value to trading accounts. Importantly, the awards are not mandatory and anybody accepting them must fulfil the bonus terms and conditions of each offer. Typically, before withdrawing the bonus amount, customers are required to execute a trading volume of $10,000 for every dollar of bonus money received. This must be done within a specified time period, and can be quite a challenging task, requiring a very large capital investment. For this reason, we advise our readers to read the bonus terms and conditions carefully before accepting.

    RIMarkets Trading Software

    RIMarkets provides traders with the award-winning MT4, Forex trading platform for futures and CFD trading. The MT4 is available for download to desktop and also as a browser-based WebTrader for all devices and operating systems. For trading on the move, RIMarkets provides a free dedicated mobile app for Android and iOS powered devices. Notably, traders get access to a diverse range of tradeable assets on the RIMarkets trading platforms. Tradeable instruments include 49 currency pairs, multiple cryptocurrencies including Bitcoin, Monero, Litecoin, Ethereum, Dash, Peercoin and Ripple as well as metals, stocks, indices and commodities.

    Features of RIMarkets MT4 Desktop Platform

    The powerful MT4 Forex platform offered by RIMarkets is a favourite with traders in South Africa. The MT4 incorporates all the cutting-edge trading and analytical technology required for both beginners and ‘Pros’ in Forex trading. However, the MT4 is only suitable for download to desktop computers with Windows operating systems. The MT4 WebTrader (described below) is available at RIMarkets without software download and can be used by diverse operating systems. Importantly, the MT4 takes up very few resources on desktop computers, allowing the platform to react faster and cause minimum disruption. User-friendly customizable interface

    • Enhanced security built into the system with encryption protocols
    • Safe, stable trading for novice and advanced traders
    • 30 technical indicators built in
    • 24 graphic objects and advanced charting tools
    • Fast and accurate analysis of price movements in 9 time frames
    • Supports automated trading with built in Expert Advisors
    • Dynamic trading tools for simple order entry
    • Diverse orders include market and pending orders, stop orders and trailing stop
    • Tick chart and trading history
    • Trading from charts with automatic execution
    • Trading signals available
    • Copy trading possibilities

     

    Features of the RIMarkets WebTrader

    The RIMarkets WebTrader can be accessed through the browser of any internet connected computer, phone or tablet using the personal RIMarkets username and password. Unlike the MT4 desktop platform, the WebTrader facilitates desktop trading with Mac, Linux and Windows operating systems, without software download. The state-of-the-art features of the WebTrader include:

    • Advanced trading tools
    • Live analysis and charts
    • Analysis modules for different time frames
    • Live market updates
    • Trading cubes for fast trade execution, showing prices, assets and lot sizes
    • Demo account for trading practice without losing capital

     

    Features of the RIMarkets Mobile Trading App

    The RIMarkets mobile trading app gives secure, instant access to the global trading arena over smart phones and tablets with Android and iOS operating systems. The dedicated RIMarkets mobile trading app is available to customers in South Africa and beyond, from Google Play and the App Store free of charge.

    • Simple user-friendly interface
    • Easy ‘swipe’ action
    • Manage and monitor accounts easily
    • Large asset list.
    • Advanced investment tools.
    • Place orders and positions.
    • Execute trades from anywhere
    • Access daily market reviews and analysis by experts.
    • Graphical representations of latest market trends

     

    RIMarkets Customer Support

    Customers in South Africa and elsewhere, can get in touch with the RIMarkets support team 24/5, over the live chat function on the interface, by email or over the phone at the numbers indicated below.

    • UK +44 2039364555
    • ZA +27 445180500
    • AUS +61 288805855
    • RU +74 999712340

     

    To avoid the cost of phoning, clients can submit the ‘contact us’ form on the help page, stating the subject of the enquiry and a convenient time for a call back free of charge. We were disappointed to see that RIMarkets doesn’t have a FAQs page on the website, providing rapidly accessible info about trading with the broker. Questions connected with the documents required by the compliance department at RIMarkets must be addressed by email to the compliance team.

    Additional support is provided through the comprehensive user guide built into the MT4 software, explaining all aspects and features of the online trading platform.Moreover, RIMarkets provides informative trading articles under the ‘Assets’ tab on the dashboard. Further educational information is given about cryptocurrency markets in general, as well as Forex, Stock and Commodity trading. After registering an account with RIMarkets clients are offered instructional videos, trading courses and e-Books giving them the knowledge to navigate the different global trading arenas.

    RIMarkets Payment Methods

    RIMarkets supports deposits with credit/debit cards, bank wire transfer and electronic payment methods. Clients in South Africa will be presented with a choice of local payment methods when they register a trading account with RIMarkets.Trading accounts can be maintained in USD, EUR or GBP base currencies. However, deposits are accepted in other currencies and converted to one of the chosen base currencies immediately.  Notably, before customers can begin trading, they are required to submit several documents needed for the KYC policy followed by RIMarkets, as well as anti-money laundering regulations.

    Customers need to prove name and address with a copy of a recent utility bill or bank statement and a colour copy of an official ID document. Withdrawal are processed within 5 days, with funds only sent to customers after an email or telephone conversation confirming the withdrawal request. Withdrawals are free of processing fees with the minimum withdrawal to an e-wallet set at just £$€5 and £$€100 for credit cards and bank wire transfer. Moreover, customers can rest assured that their funds are safe as RIMarkets keeps customers’ money in segregated bank accounts, apart from corporate accounts.

    RIMarkets is operated by Fcorp Services Ltd, registered in the Marshall Islands under number 95389. The company address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Island, MH 96960.

    InterCh Globe SIA, provides the payment services for RIMarkets. The company is registered in Latvia with number 40203140600 at Riga, Krisjana Valdemara iela 21-10, LV-1010.  

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