RM Markets Review: A False CySEC Licensed Platform

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RM Markets Review
  • Contact and support
  • Withdrawal
  • License and Registration
  • Trading Platform
  • Safety of funds
1.7

Summary

RM Markets claims to offer a 25 percent welcome bonus. Red Mars Markets is also using another platform’s CySEC registry documents. These are some of the red flags found on the platform. Learn more in our detailed rmmarkets.com review.

RM Markets, or RedMars Markets, is a platform waiting to swindle funds from clients. Hundreds have been complaining of several issues top among them being withdrawals. It seems new members can’t gain access to their funds. Lack of a proper regulatory framework leaves loopholes rmmarkets.com exploits from clients. That’s why we have to expose the platform for its suspicious trading activities. Here’s what we uncovered in our comprehensive RM MARKETS REVIEW.

About RM Markets

RM Markets Review: Pros and Cons

According to their about us page, RM Markets is a turnkey solution to all CFD trading needs. The platform acts as a retailer for CFD trading for institutional and retail clients. We also see claims of offering the best trading conditions the market has ever seen.

You need to know credible investment options that safeguard your interest as an investor. In addition, you need to use adequate tools for trading that help advance your trading results and skills. For example, when trading with forex assets, try for reliable forex robots backed by industry experts.

We have from Red Mars Markets a platform solely created to defraud investors. With several complaints, the platform remains silent on why this is happening. We strongly believe RMMarkets is another exit scam.

There’s no background or history of the platform. All that we have is their claim of having years of trading experience. After checking domain records, the website is 454 days old as we publish this post.

And this shows that the platform is barely a year in business. There’s no experience and further explains the lack of professionalism. It’s an absurd claim meant to drive investors into believing it’s a classy trading platform.

It would be best to be extra careful when investing with online platforms. We recommend that you do some due diligence before investing with the platform. Try and find out the experiences of other users before committing funds.

Acceptable funding methods

To make sure users fund their accounts quickly, the platform avails bank and wire transfers. After funding your account, the balance will reflect in your trading account within 24 hours. Unfortunately, you get a platform that fails to offer transparency during the funding process.

Withdrawing funds will be your biggest challenge yet with the platform. New members get several excuses as to why withdrawal is impossible. First, the platform claims these members have to trade for three months actively.

We know for a fact that a legit trading platform allows instant withdrawals. There’s no need for the platform to hold funds without a valid reason. Instead, what we have is an exit scam waiting to pounce on unsuspecting investors.

Accounts and Tiers RM Markets

RM Markets furnishes investors with four account types to choose from. These include Cent, Standard, Zero, and VIP. Each of these accounts comes with a different set of features. Here’s a closer look at each of these accounts;

Cent

With the Cent account, the platform accepts a minimum deposit of $10. Spreads start from 1.4 pips with micro trading allowed. The account comes with insane leverage of 1:500. You can trade with both MT4 and MT5 trading terminals.

Standard

For the standard account holder, there’s an acceptable minimum deposit of $100. Spreads are the same as the Cent account, with members getting an account manager. You can also use mobile and web trading terminals.

Zero

There’s a minimum acceptable deposit of $1,000 for the zero accounts. Spreads start from o pip, and members enjoy a commission of $10 per lot. Micro trading is possible with members free to use any trading platform.

VIP

It’s the most exclusive account that targets institutional investors. You must deposit $25,000 to get started. Commissions per lot are $8 with leverage at a maximum of 1:500 for all trading assets. You also get an account manager available 24/5.

Accounts RM Markets

Account Features

We have to raise our concerns when it comes to commissions and leverage. Regulators are against platforms that offer commissions and high leverage. The platform will ransom your account if there’s a commission set.

Leverage is another crucial feature that we must point at. Regulators in Europe put a cap on maximum leverage at 1:100. Any platform asking for more is violating set industry rules. The platform greatly benefits from these regulations.

Account Managers

You would think that the platform has account managers. Think again as the platform hires call agents to act as account managers. These agents will call you with claims of having a lucrative open position.

All you have to do is deposit funds with them and wait for the profits to soar. After a while, you will notice the account manager no longer calls you. The platform replaces them with a new manager citing the previous manager is on leave.

Assets and Trading instruments

Members get to trade with over 300 financial trading instruments. These instruments are commodities, forex, indices, and stocks. You get to trade commodities such as coffee, cotton, crude oil, natural gas, and more.

The platform fails to indicate the number of forex pairs available for trading. However, the platform only offers major and minor currency pairs. These include EUR, GBR, JPN, USD, and more.

Indices available include DAX, Dow Jones, FTSE, NASDAQ, NIKKEI, S&P, and more. You get to trade on the international stage. Members learn how global markets affect the daily prices of products and services.

Stock trading happens to be at the core of their trading activities. As a result, you get to trade shares from leading companies from all fields. These include manufacturing and tech areas. Available stocks include Apple, Microsoft, Tesla, and more.

Are Funds Safe with Red Mars Markets?

Bonuses

There’s a welcome bonus feature to make sure the platform lures in as many clients as possible. The platform offers a 25 percent welcome bonus with a potential claim of $2,500. But, before you jump in, there’s a hidden trap to expose.

There’s a reason regulators are against platforms that offer bonuses and commissions. The platform will demand that you pay back in full the bonus before withdrawing any funds. Even if your account has the funds to clear the bonus, the platform insists on a new deposit.

That’s how the platform knows whether you want out. Those who pay back the deposit lose more as the platform fails to allow withdrawals. That’s why regulators are picky when it comes to bonuses and commissions.

Compliance, License and, Registration RM Markets

RM Markets is not compliant despite trying to use a name of a licensed platform. Sure, there’s a licensed platform under CySEC but, it’s not for the above domain. And this means the platform clones information from a registered platform.

Beware of clones and ensure you check and confirm all regulatory details of a platform. We recommend investing with platforms regulated by reputable bodies. These include ASIC, BaFIN, CFTC, CNMV, CONSOB, FCA, NFA, and the SEC.

These regulators work to ensure that the platform follows set industry regulations. As a result, a regulated platform will have a fair and level playing field for investors. That’s why it’s imperative to trade with regulated platforms.

MT4 and MT5 trading platforms

Is rmmarkets.com a licensed or regulated platform?

One of the advantages of trading with a world-class trading terminal is its available features. These features include EA Hedging and scalping tools and technical indicators. Unfortunately, that’s the only positive feature we see with rmmarkets.com.

Verdict

After exposing the withdrawal fiasco happening at RM Markets, it’s best to stay away.

We recommend using dependable and transparent forex trading bots.

Feel free to leave a comment or email us with any queries.

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