RLC is a forex broker that claims to offer a wide range of trading services, including CFDs on forex, commodities, indices, and cryptocurrencies. However, there are a number of red flags that suggest that RLC is a scam broker.
Company Overview
RLC is not registered with any financial regulator, and it does not have a legitimate business address. The company’s website is poorly designed and contains a number of grammatical errors. RLC also uses fake testimonials and offers unrealistic trading returns.
Does RLC Have Any License?
No, RLC does not have any license to operate as a forex broker. We did not find any license information on their website. We also searched on social media to find a piece of information about their license, but no result.
Is RLC Regulated By Any Authority?
No, RLC is not regulated by any financial regulator. This means that the company is not subject to any rules or regulations that are designed to protect investors. This leaves you at risk of losing your money if something goes wrong.
Pros and Cons
Pros:
- RLC offers a demo account that allows you to test the platform before you start trading with real money.
- RLC offers a variety of educational resources to help you learn how to trade.
Cons:
- RLC is not regulated by any financial regulator.
- RLC has a poor reputation online.
- RLC has been accused of being a scam broker.
How Does RLC Reach To Their Prey?
RLC uses a variety of methods to reach their prey, including:
- Cold calling: RLC will cold call potential victims and offer them a free demo account or a trading course.
- Social media: RLC will post fake testimonials on social media and target people who are interested in trading.
- Pay-per-click advertising: RLC will pay for ads to appear on search engines when people search for terms related to forex trading.
Technical Details
- Minimum Deposit: The minimum deposit to open an account with RLC is $250.
- Trading Platform: RLC uses the MetaTrader 4 platform, which is a popular platform for forex trading.
- Spread: The spreads on RLC are high, which means that you will pay more to trade with this broker.
- Leverages: RLC offers leverage up to 1:500, which is very high and can magnify your losses as well as your profits.
Packages and Products They Offer
RLC offers a variety of packages and products, including:
- Standard account: This is the most basic account offered by RLC. It has low spreads and high leverage.
- VIP account: This account has even lower spreads and higher leverage than the standard account. However, it also requires a higher minimum deposit.
- Crypto account: This account is designed for trading cryptocurrencies. It has low spreads and high leverage.
Withdrawal and Deposit Method
RLC offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards: You can deposit and withdraw money using your credit or debit card.
- Bank transfers: You can deposit and withdraw money using a bank transfer.
- E-wallets: You can deposit and withdraw money using an e-wallet, such as Skrill or Neteller.
What Do Their Previous Traders Say?
There are a number of complaints about RLC online from previous traders. These complaints include:
- Problems with withdrawals.
- Fake profits.
- Scams.
Summing Up- Why Should Not You Trust RLC
There are a number of reasons why you should not trust RLC. The company is not regulated by any financial regulator, it has a poor reputation online, and it has been accused of being a scam broker. If you are looking for a forex broker, we recommend that you choose a regulated broker with a good reputation.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to RLC, you may be able to get your money back through our free consultation. We will help you in recovering the lost fund by providing you with a recovery service recommendation.
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Final Thought
If you are looking to find a reputable broker, we will recommend you to read more of our blogs and also, get a free consultation and discussion to choose the right broker for you.
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