RosyFX Review: An Unregulated Platform

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RosyFX Review: An Unregulated Platform

There’s little to write home about when it comes to investing with RosyFX. But, as hundreds of investors have found out, not all things are rosy within the platform. You will likely fail to withdraw funds with the platform. And this is why we must strive to expose the red flags found on the platform. Rosy FX is not your average investment platform. Please find out more in our thrilling ROSYFX REVIEW.

NOTE: We recommend engaging with proven strategies when dealing with online investments. These include coin staking, DeFi, and Masternoding. With these expert-backed strategies, your investment remains safe.

About RosyFX

To start us off, RosyFX does a terrible job with their website. Navigation through the different pages is impossible. Once you try and visit another page, you get the 500 error server. And this is the least of your worries.

RosyFX Pros and Cons

The people running don’t have any integrity. Unfortunately, transparency is also a thing of the past for those who engage with the platform. As a result, you won’t get any meaningful information on the homepage.

Pages such as accounts and platform pages don’t open in new tabs. And this means investors are signing up blindly. Moreover, you don’t know the account features available on these platforms. And this is why we have to expose the platform’s callous ways.

There’s no background or history of the platform. Investors don’t know when the platform first went live. The owner tries to hide their domain registry details. And this is a pointer that the owner plans to remain anonymous.

Before you invest in any platform, we recommend doing due diligence. Try and find out what makes a platform tick. It’s one of the ways to know whether a platform is safe or not. Try getting to read the experiences of other users.

You can also write to us and request an investigation of any particular platform. We deal with cryptocurrency and forex-related products and services. We aim to ensure investors only deal with proven and safe platforms.

Accounts and plans RosyFX

RosyFX plans to offer four different accounts to clients interested in the platform. These include first-class, standard, pro, and a demo account. Unfortunately, that is the only information you get regarding these three accounts.

There’s no information on the available account features. As a result, essential aspects of an investing and trading account are missing. For example, investors sign up not knowing the available leverage and spreads for trading assets.

And this opens up investors to a whole new level of loopholes. The platform will change leverage at any given time. Therefore, your trading position is at risk with the unknown leverage. It’s why we don’t expect anyone to win with these accounts.

There’s also the issue of a set minimum investment amount. The platform fails to mention the recommended minimum investment for these accounts. With the demo account, there’s also the issue of results.

Account features

As an investor or trader, you must know the available account features. An excellent example would be the maximum leverage position with trading assets. And this is where regulators step in and ensure there’s parity.

In Europe, the acceptable maximum leverage is 1:100. The United States sets maximum leverage on retail traders at 1:50. Any platform going against these set standards is taking advantage of investors.

With an acceptable minimum deposit, regulators accept €$250 respectively. We see a platform that claims to boost your profit margins if you deposit more. These are false claims meant to lure investors into depositing more funds.

Accounts RosyFX

Account opening procedure

When opening an account with some of these investment platforms, you must tread carefully. A classic example is Rosy FX, which waits to verify your account until you hit the withdraw button.

After registering your account, the platform will send you a verification email. You can then start depositing funds and start trading. When the time comes to withdraw funds, all hell breaks loose.

The platform will wait for this moment, knowing the urgency of withdrawal too well. Then, after that, you will do anything to withdraw funds. And that’s why the platform asks for crucial documents for verification.

These documents include a copy of your ID, credit card details, and bank statements. We don’t see why these documents are necessary. A decent verification system will require a two-factor authentication process.

Advantages and Disadvantages of

The only advantage we found with the platform is the use of the MT4 trading platform. But, sadly, even experts won’t get to withdraw after using the platform. And that’s why we recommend investing with proven entities.

Are funds safe with Rosy FX?

Affiliate and partnership

There’s also the issue of affiliates and partners. The platform plans to widen its trap by creating a false affiliate program. You get a promise of making a 15 percent commission on all trades by the affiliated member.

It seems like a perfect way to earn passive income. That’s not the case, as the platform only wants to take advantage of your connections. Once you help them get more clients, the platform won’t release commissions.

And that’s why you won’t find any professional affiliate partnering with the platform. Furthermore, word has already gone around that the platform is a scam. So, it would be best to protect your interests and those of close family and friends.

Assets and trading instruments

There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. In addition, you get to trade household commodities such as coffee, cotton, sugar, and more for commodities.

The platform also avails some of the top cryptocurrencies for trading. These include Bitcoin, Ethereum, Litecoin, and Ripple. The platform pairs these cryptocurrencies with major currencies such as EUR and USD.

Forex trading happens to be at the core of the platform’s activities. You get to trade major and minor currency pairs. Sadly, the platform fails to give meaningful features such as leverage and spreads.

Indices play a vital role for day traders. First, you get to trade in the world’s biggest stage. Some of the indices found include DAX, Dow Jones, FTSE 100, NASDAQ, etc. You get to see how the global markets affect prices.

Lastly, we have stock trading, a big market puller for traders. You get to own a piece of a company for a short time. Some of the listed stocks include those from manufacturing and tech companies.

Business holder

Is licensed or regulated?

There’s little information regarding who owns or runs the platform. And this makes RosyFX an anonymous investment platform. It would be best if you stayed away from anonymous crypto-related investments.

Despite the platform claiming to have a business registry in St. Vincent, it’s false. The platform uses random numbers and claims these are genuine business registries. However, there’s no business registry of the entity that claims to own or run the platform.

Client testimony

Hundreds of clients have lodged complaints with regulators. The platform seems to block all attempts of withdrawals. And this has led to investors questioning the motive of the platform. We recommend you stay away.

Deposit and fund safety RosyFX

Your funds are far from safe with the platform. Rosy FX fails to segregate funds as dictated by trading regulations. It’s best to stay away from the platform or risk losing your entire deposit at once.

License and Registration RosyFX

RosyFX is not a licensed platform, and investors should stay away.

Our verdict

Following the expose, we must raise the red flag regarding investing with RosyFX.

PS: Please invest in proven platforms that offer safety and transparency.

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