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Rikard Capital is offering Forex signals from the UK in addition to running a coaching and trading room service.
We will not include this signal service into our list of reliable Forex signal providers because of the issues raised in this review.
The vendor claims that they don’t offer financial advice, only their trader’s opinion and actions.
Rikard Capital does not want students to throw blames on them if they end up losing their investment.
The signal service was registered in June 2016 but has never introduced the name of the owner other that telling us that Rikard Capital was setup by a retail FX trader with 15 years of experience.
Definitely it’s in their best interest to tell us who they are so we can run a quick background check on their career profile for purposes of writing a complete review.
We expect some sort of transparency from this vendor as their about us page even states that the owner started this company because they were “fed up” by lack of transparency in the live Forex signal market.
According to the website, Rikard Capital™ is a UK-based company that started its operations in 2003.
They charge various fees for their trading and education service.
Before you pay, our review will let you know whether this vendor’s Forex signals and coaching service is really that helpful.
Note: If you would like to invest your money with a reliable trading service, consider the recommendations in this list.
Rikard Capital Review
The website of this Forex signal service provides a lot of information about how they run the service, what traders can expect and the costs involved.
They tell us that their signals are only sent 4 days in a week, which is between Monday to Thursday.
They provide 1 to 10 Forex signals at every New York close time (1700hrs).
Other than set and forget end of day signals, the vendor also provides daytime signals from shorter timeframes.
They will provide entry, stop loss, take profit and estimated duration alongside all their trade calls.
All of the signals are sent via Whatsapp, so one of the conditions for utilizing Rikard Capital’s service is that traders must have a phone with Whatsapp support.
Other than Forex signals, the company also provides trade alerts for UK stocks, indices and Commodities.
As for their FTSE 100 Signals & FTSE 250 Signals, the company wants subscribers to expect alerts at 2230hrs GMT daily.
And of course there’s the 1 hour Skype coaching session.
Session costs are non refundable and the company states that it will not provide any refunds.
This brings us to the cost of subscribing for this signal alert service.
Forex signals……………….£25 weekly or £5 per day to try the service
1 hour coaching…………. £50
FTSE 100 or FTSE 250 signals….£75 weekly
The company provides no guarantees that their coaching will yield results.
At the same time their marketing materials claim that they will show students how to join the 5% population of successful retail traders.
We don’t understand why Rikard Capital is so focused on risk disclaimers.
Probably they’ve had a bad experience with a customer in the past and wouldn’t want to go through this ordeal again.
Whatever the case, we don’t expect a “professional trader with 15 years of experience” to instill fear while at the same time claiming they have a myfxbook that tracks results on their live account.
The sales page of Rikard Capital claims that their FX trader likes to scalp the 15min as well as the 1h to 4h timeframes.
They trade 38 Forex pairs in addition to Gold, Silver and Oil.
Trades are conducted during the following sessions:
US Open & European Close
Asia Pacific Close & European Open
They don’t tell us the specifics of how they hunt for signals and how they manage risks.
However, they insist that their service is still worthwhile and is the reason they charge for their research.
We expect Rikard Capital to disclose this strategy in details because it helps with decision-making when signing up.
Also, this disclosure is good because it would suggest that the team is transparent.
Rikard Capital trading results
These folks have claimed that their company is documenting their live trades on myfxbook.
However, they failed to provide a link to their myfxbook and so we can’t establish whether it’s indeed true that they document their trades.
A quick google search does not even reveal that Rikard Capital ever created a myfxbook account in the first place.
This finding is quite the contrary of what the service is advertising on their website.
I feel that they’re not being honest and that they probably made this statement just to incite traders to subscribe without asking questions.
There’s no point of lying to traders because when the truth comes out, it will be too harsh on them.
There are no reviews or feedback of this service anywhere on the internet.
I find it quite strange because a signal vendor with a history dating back to 2016 is an established website that should be attracting reviews.
I managed to find their Facebook page but it seems they hardly update this page either since the last post was in February 2019.
The bottom line is that traders only want a signal service with enough customer feedback.
Rikard Capital does not have any.
One look at the Rikard Capital website would convince any trader that the signal service is serious about offering a quality service.
However, if you dig deeper, you will realize that things are not adding up.
The marketing material is just hyping with no real results to show for it.
I feel disappointed by this service and would never recommend it until they address the issues in this review.
I don’t know what would prevent them from creating a myfxbook account and posting their results there.
It makes no sense to lie when the truth will definitely come out at some point.
Thanks for reading.