Ridge Corporation is a forex and CFD broker that claims to offer a wide range of trading products and services. However, there are a number of red flags that suggest that Ridge Corporation is a scam broker.
Company Overview
Ridge Corporation is a company registered in the Seychelles. The company does not have any licenses or regulations from any reputable financial authorities. This means that there is no oversight or protection for traders who use Ridge Corporation.
Does Ridge Corporation Have Any License?
No, Ridge Corporation does not have any licenses or regulations from any reputable financial authorities. This is a major red flag, as it means that there is no oversight or protection for traders who use Ridge Corporation.
Is Ridge Corporation Regulated By Any Authority?
No, Ridge Corporation is not regulated by any authority. This is another major red flag, as it means that there is no one to hold the company accountable if it goes wrong.
Pros and Cons
Pros:
- Minimum deposit is low.
- The trading platform is easy to use.
- The spreads are competitive.
Cons:
- The company is not regulated.
- There have been reports of customer complaints.
- The withdrawal process is slow and difficult.
How Does Ridge Corporation Reach To Their Prey?
Ridge Corporation uses a variety of methods to reach out to potential victims. These methods include:
- Cold calling
- Spam emails
- Social media ads
- Fake news articles
Technical Details
Minimum Deposit:
The minimum deposit to open an account with Ridge Corporation is $250.
Trading Platform:
Ridge Corporation uses the MetaTrader 4 trading platform. This is a popular and well-respected platform that is used by traders around the world.
Spread:
The spreads offered by Ridge Corporation are competitive. The average spread for EUR/USD is 1.0 pip.
Leverages:
Ridge Corporation offers leverage up to 1:500. This means that you can control a position worth $5000 with a deposit of just $100. However, it is important to note that leverage can magnify your losses as well as your profits.
Packages and Products They Offer
Ridge Corporation offers a variety of trading products, including forex, CFDs, and cryptocurrencies. The company also offers a variety of trading accounts, which are designed to meet the needs of different traders.
Withdrawal and Deposit Method
Ridge Corporation offers a variety of withdrawal and deposit methods, including credit cards, debit cards, and bank transfers. However, there are a number of fees associated with these methods.
What Do Their Previous Traders Say?
There have been a number of complaints from previous traders of Ridge Corporation. These complaints include:
- Difficulty withdrawing funds
- Slow customer support
- False promises of high profits
Summing Up- Why Should Not You Trust Ridge Corporation
The red flags mentioned above suggest that Ridge Corporation is a scam broker. You should not trust this company with your money. If you are looking for a legitimate forex broker, you should do your research and choose a company that is regulated by a reputable financial authority.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to a scam broker like Ridge Corporation, you are not alone. There are a number of organizations that can help you get your money back. These organizations include:
- The Financial Conduct Authority (FCA) in the UK
- The Securities and Exchange Commission (SEC) in the US
- Australian Securities and Investments Commission (ASIC)
You can also contact us to get a free consultation and service recommendations to get help recovering the funds.
File A Complaint Against Scam Broker's
Final Thoughts
Ridge Corporation is a scam broker that should be avoided. If you are considering using this company, we urge you to reconsider. There are many legitimate forex brokers out there that offer a safe and secure trading environment. Do your research and choose a company that you can trust.
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