In this section we will analyze the broker RichmondFG (also called Richmond Financial Group), is a CFD and forex broker. Is RichmondFG really recommended for an investment? Or is it better not to invest with this company?
We do this review and assessment, because we receive different messages and comments asking about the reliability of the company in question. ¿Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
The broker mentions being part of: Elit Property Vision LTD.
As to its location, the broker mentions being based in: Sofia, Bulgaria.
If we analyze the regulation of the broker: because RichmondFG does not mention absolutely anything about being a regulated company, everything indicates that it is a UNREGULATED broker.
If now we go on to analyze account types that RichmondFG offers, we note that they actually offer 6 different account types: the Micro Account, the Mini Account, the Silver Account, the Gold Account, the Diamond Account and the VIP Account.
Micro account- $ 500 minimum initial deposit, up to 1: 200 leverage, up to 10% loan, monthly market reviews.
Mini Account- $ 2.500 minimum initial deposit, up to 1: 200 leverage, up to 25% loan, monthly market reviews, weekly webinars.
Silver Account- $ 10.000 minimum initial deposit, up to 1: 200 leverage, up to 35% loan, weekly market reviews, weekly webinars, personal account manager.
Gold Account- $ 50.000 minimum initial deposit, up to 1: 200 leverage, up to 50% loan, weekly market reviews, weekly webinars, personal account manager, personal broker, weekly one-to-one sessions.
Diamond account- Minimum initial deposit of $ 250.000, leverage up to 1: 300, up to 75% loan, daily market reviews, weekly webinars, personal account manager, personal broker, daily one-on-one sessions, invitation to VIP events.
VIP account- Minimum initial deposit of $ 500.000, leverage up to 1: 400, up to 75% loan, daily market reviews, weekly webinars, personal account manager, personal broker, daily one-on-one sessions, invitation to VIP events, super tight spreads .
In the following image you can have more information about the types of account. Click here to see the image in full size.
The platforms to operate that RichmondFG offers are: we believe RichmondFG's own platform, although it does not specify it.
We will now analyze the different resources and aids for traders that RichmondFG provides on its website. We believe that the resources and help provided on the website can be a point in favor of the broker.
RichmondFG provides the following help or resources to traders or interested parties: basic explanation of financial products that the RichmondFG company provides, explanation of basic concepts of the investment world, really not much more than this ...
Other information about RichmondFG
Some more information in case you want to contact the company, or see its website for yourself.
Phone number: Tel: not provided
Email: [email protected]
>>> Feedback on RichmondFG <<
Ending with this section, in our opinion Do we believe that the RichmondFG company is trustworthy? Should you invest your money with the company?
The truth is that, we believe that it is better to be careful because: it is based in unsafe countries (Bulgaria), it is an unregulated company, when looking for other reviews or evaluations about this company we could not find anything, which indicates that it is about from a "new" broker, without a track record ...
For these reasons, we believe that RichmondFG is not a recommended broker. In other words, we always recommend working only with duly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
November 2020 update : according to comments and emails received from customers, we note that richmondfg is linked to a group of brokers, with a very bad reputation, a large number of complaints and numerous complaints in various European regulators. The group includes brokers such as: Bitcoinie, Briton price, btcbrokerz, btcswing, Capital 245, CapitalPro Investments, carterfs, ciscotrades, executiveprofx, EverestBTC, Fly Financial Group, jbcapitals, Lockwood Investments, Merkell Group, MMFINANCIALEXPERTS, redfordfx, richmondfg, Stanford Finance Group, stanleyscapital, T Digital Coin, tradeprofitweb, topcmarket, Wellington Investments, WTC Investment y xcoinbroker. WE SUGGEST EXTREME CAUTION
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
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