Rickglobal.com Review Is RickGlobal A Scam Or Legit Forex Broker

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RickGlobal Review

RickGlobal

Reason to avoid: Offshore license

Listed Date: August 31, 2020

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Beware RickGlobal is a Non-Regulated broker. It is NOT SAFE to trade.

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Is RickGlobal a scam or legit broker?

No, it is not safe to trade with RickGlobal. RickGlobal is owned by RickGlobal which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, to pay a fee, and within a 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as RCM FX, OlympusMarkets and more.

According to the website, “RickGlobal is a licensed world-class stock exchange broker, which provides high-quality financial and investment services to customers around the world. All the services and financial operations of our company are regulated by the Financial Services Commission (VFSC).”

As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

The company doesn’t provide any details about it’s location or contact phone number. We can judge from the map on the website that RickGlobal is located in the United Kingdom. However, there is no proof from the local regulator the FCA that broker is allowed to provide financial services.

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RickGlobal Review – is it scam or safe?

RickGlobal is an offshore forex and CFD broker, offering over 250 trading instruments with three account types, leverage as high as 1:500 and a web based trading platform.

Account type Min. deposit Max. leverage Spread s
Basic Account $500 1:500 n/a
Advanced Account $1000 1:500 n/a
Smart Account $10 000 1:500 n/a

The company behind the broker is incorporated in Vanuatu and they say to be licensed by the local Financial Services Commission (VFSC). That however does not give them legal right to target customers on regulated markets like the European Union or Australia for example, so if you are about to start trading with them be sure to read this review first.

RickGlobal Advantages:

Fine selection of trading instruments

RickGlobal offers 43 currency pairs, many of which exotic or minor like USD/ZAR, USD/TRY, USD/SGD, USD/SEK, USD/RUB, USD/PLN, USD/NOK, USD/MXN and USD/CNH. And the broker also offers a variety of CFDs – on gold, oil, natural gas, 9 indices, 2 ETFs, stocks and several crypto pairs with coins like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, Ripple and Zcash.

Still, if you are into crypto trading you may also check our list of regulated brokers, trading with bitcoin CFDs as well:

RickGlobal says to be holding a license by the Vanuatu Financial Services Commission (VFSC), but that does not impress us much. Our issue with the Vanuatu Commission is quite straightforward – Vanuatu is a small atoll in the middle of the Pacific Ocean, and that means VFSC simply lacks the resources to oversee internationally operating brokers like RickGlobal, not to speak about their regulatory requirements, which are not comparable to the ones adopted by most regulators in Europe or Australia for example.

Also the broker claims to be operating from an office in London, the UK. If this is true than legally RickGlobal should be licensed and authorized by the Financial Conduct Authority (FCA) in the UK, which they are not, and that further decreases their credibility. Besides, here you may check our list of brokers regulated by the FCA:

Otherwise the company behind RickGlobal is called RickGlobal Limited and as far as we understand is incorporated in Vanuatu.

You should be especially wary with any trading bonuses a broker like RickGlobal might offer you. The general problem with all trading bonuses is that they are invariably linked to some minimum trade volume requirement, which too often is used as a pretext to cancel your withdraw requests.

Unusual inactivity fee

RickGlobal says they will start charging you a monthly inactivity fee of 10 USD if you have not traded for just 30 days. That is not a usual practice. Most brokers may charge you an inactivity fee only after your account have been dormant for over a year.

RickGlobal accepts only Bitcoins

Apparently the only payment method accepted by RickGlobal are bitcoins and that is clearly a disadvantage. Bear in mind that most brokers accept payments with credit card like VISA and MasterCard, bank wire and e-wallets like Neteller, Skrill.

Bear in mind that if you have payed with credit cards like VISA or MasterCard and you have been scammed, you can always file for a charge back with the respective credit card provider.

Also take a note that according to their new anti scam policy, Skrill requires all brokers it partners with, to prove they hold a legit license. As we already discussed RickGlobal does not have a reliable license.

Besides, crypto payments are probably the most anonymous way to send or receive money, so its no wonder why such payment venues are preferred by scammers and other criminals. Still, here here you may also check our list of brokers accepting bitcoins as well:

Despite its Vanuatu license we can not add RickGlobal to our list of reliable and regulated brokers. We discussed our reasons above, so here we will just repeat our usual advise to trade only with brokers licensed and authorized by familiar and well respected institutions such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

RickGlobal Review

In this review, we will describe why you should be cautious dealing with RickGlobal.

Scammed By RickGlobal ? Start the process to get your funds back TODAY !

Is RickGlobal Legit?

Looking at RickGlobal website, it shows that they are owned by RickGlobal. RickGlobal is located in Vanuatu, a well-known offshore zone and a preferred location for shady brokerage. RickGlobal is an offshore broker. Problem with offshore brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.

To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why RickGlobal is a dangerous broker to deal with.

Are Funds Safe with RickGlobal ?

With such lack of information and RickGlobal being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers. A red flag that we noticed is RickGlobal is withholding vital information to users.

RickGlobal could go bankrupt from one day to another since there are no banking information about this broker.

High Success Rate – Transparency & Integrity –

RickGlobal Review: our Conclusion!

RickGlobal is an offshore broker. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.

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