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Right FX Review: A Distressful Offshore Broker

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Right FX Review: A Distressful Offshore Broker

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Right FX is a broker pretending to reside in the UK and has already seen complaints lodged against them. The broker has even published an illegitimate British Corporation certificate. These are professional offshore brokers trying their luck in the European market scene. Those that know about regulation will stay away from the broker. RightFX is turning out to be another platform that will shut down after the broker has their fill. Learn more about the broker in this rigtfx.com review.

Right FX Review

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About Right FX

According to their about us page, Right FX is a platform that offers users a superior trading platform. Scam brokers will do or say anything to make their platform appear legit. These brokers will even claim to double your money within a short period of time.

We have to give them the thumbs up for creating an engaging website. Apart from having easy navigation, there’s no real trading taking place.

The broker claims to believe in strong business ethics. If that’s the case, we don’t understand why they use false credentials. When you sign up with the broker, they will also ask for your bank credentials. The broker wants to know your source of income and credit card number.

We believe that the platform is taking advantage of naïve investors. You have to be extra careful with whom you share your personal details.

Affiliate program

There’s an affiliate program on offer, and this is another reason to raise the alarm. Affiliate marketers did their work and marketed the platform. After some time, victims started pointing fingers at affiliates.

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The victims were angered by the affiliate directing them to a distressful broker. RightFX is also not paying commissions to affiliate members. Both affiliate members are platform users are now at each other’s throats.

Assets and trading instruments

Commodities, currencies, and indices are the trading instruments to find. The leverage is set at 1:500, which is a huge risk, especially with losing trades. Users get the promise of low spread and spillage, which don’t work out.

RightFX Affiliate Partnership

Once you sign up with the platform, there’s no way you will get the chance to trade. The broker claims to trade on your behalf and later shuts down the account. It’s what victims are subjected to once they sign up with the broker.

Business holder

For all their efforts in trying to create a trading platform, anonymity is what gives them away. The broker is anonymous as we don’t get to know the names of the people behind it. These are scam artists who have been hiding behind the screen.

The location of the website is a church which means they are using a false address. It would be best if you were careful with anonymous investment options. Nothing good ever comes out of anonymous trading entities.

Comments from users

Most of the victims are turning to social media posts to vent their anger. The victims are calling for authorities to act quickly before the broker steals more money. All of them are facing the same issues, withdrawing.

It seems that none of them can withdraw funds. Others claim that the broker insists that they should deposit more for the withdrawal process to complete. Members are facing an uphill task.

Domain insights RightFX

rightfx.com domain on sale

We took a swing at their website’s digital footprint and found their website is for sale. Their IP is in Germany, and the name of the registrant is Ravirajsinh Vanghela. This is probably a random name these scam artists are using.

According to sources, the registrant’s organization’s name is Right Group Financial Limited. And this is the name of the legit Company that the user is using on their platform.

Features of Right FX

Account types

Right FX furnishes members with four account types. The four accounts include standard, Pro, ECN, and VIP. Standard account holders can deposit a minimum of $100 to start trading. VIP account holders can deposit $50,000 to start trading.

The broker claims that the accounts make it easy for all classes of investors to sign up. It’s a strategic call to action that ensures users sign up with the platform.

Right FX Account types

Contact and support

Although Right FX has a chat tab, there’s no direct communication with staff or support. The chat is an avenue for the broker to harvest personal information. This includes emails which they sell to affiliate marketers.

It’s the reason why you find spam emails from products and services you haven’t subscribed to. The broker also takes their time to respond to emails which makes them unreliable.

Demo account

You also get a demo account link that doesn’t work. When you click on the demo account, users are directed to the account’s page. That’s not the way to start trading especially if you’re a newbie.

Novice traders need to take advantage of a demo account to sharpen their trading skills. A demo account also gives members a feel of the platform. Without a demo account, members go straight to live trading sessions.

Deposit and withdrawal

RightFX claims to offer easy and fast deposit and withdrawal options. Although they fail to name their channels, we believe they prefer bank and wire transfers. Most users have been depositing using normal channels such as credit/debit cards and Western Union.

Before depositing funds, ensure you do due diligence. Check whether a broker allows withdrawals. This is the dilemma facing members of RightFX.

Trading terminal

The broker offers an MT5 trading terminal which is impressive. We have a problem with the results. Even if you’re a professional trader and make profitable trades, the broker blocks withdrawal. It’s no use using a reliable platform with a broker that blocks all withdrawal attempts.

Right FX License and Registration

Right FX License and Registration Status

Right FX is not a legit trading platform, and the Financial Conduct Authority has the proof. If you check with the FCA, you will notice no broker licensed under the name RightFX. The broker uses a legit company’s name to fool unsuspecting investors.

If they thought no one would notice, woe unto them. We have to cross every T and dot every I. That’s the only way to determine whether a broker is legit.

Safety of funds with Right FX

With the high number of complaints, the security of funds is not guaranteed. The broker does not segregate accounts and transfers funds to a private and offshore bank. No recovery agent will help you recuperate your funds.

Scam or Legit Right FX

Right FX is a scam that will pounce on anyone that dares to sign up with them. We urge investors to shun the broker. Authorities will soon act, and the FCA will issue a warning regarding using their services. We hope that the website will soon shut down.

Bottom line

There’s no saying when this broker will shut down on their own volition. We won’t recommend interacting with their platform.

Stay safe and use credible experts proven by the trading community. It’s the only safe way to trade.

We wish everyone the very best.

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