Ronghaninvest.com (Ronghan Invest) is the wrong Forex broker to invest with, despite the website claiming to show traders the “path to success”.
Ronghaninvest.com’s website first appeared online in September 2020, meaning that the broker is very new to this industry and may not be accustomed to how efficient Forex companies run business.
We’ve also observed that Ronghaninvest.com is intending to break FCA rules since they’ve also been issued with a warning to stop targeting UK residents.
This broker is based in the MARSHALLS ISLAND just like several other scam brokers that prefer this location as opposed to countries where regulations are tight.
Having said this, we don’t see how we can include Ronghan Invest into our list of the most popular resources to invest with.
The reasons are highlighted in the next part of this Ronghaninvest.com review.
Ronghaninvest.com tricks and lies
First of all, they have an attractive website that is designed with colors that convince victims.
Their language is overly salesy as they tout the following benefits of trading with them:
1.Guaranteed capital protection
3.24/7 customer support (24 hour award-winning Forex broker)
4.Education and tools for assisting traders become better at the game
5.State of the art MT4 trading platfrom as well as Sirix Web
The only thing that Ronghan Invest requires you to do is to tell them about yourself and you can go ahead and fund your account.
Ronghaninvest.com provides different kinds of trading accounts, to further create the illusion that they have every account type for all kinds of traders.
Surprisingly, their minimum deposit requirement is $500.
Some of the features touted here do not make sense or at least the owner of Ronghaninvest.com did not give it a second thought when talking about features that we would be entitled to if we deposit more money.
For example, their supposedly best trading account (Platinum) requires a minimum deposit of at least $150,000 but there is no access to personal trading trainer.
It seems the broker is ell-bent on making newbies start trading in order to lose money since this type of broker is mostly a bucket shop.
They trade against the client meaning that your losses is their profits and their profits are your losses.
Ronghaninvest.com’s website has not bothered to assure its clients whether they are an ECN or STP broker because even if they did, evidence would suggest that they are still not as straight forward.
Ronghan Invest is not a regulated broker
We’re not saying that a regulated company offering trading services is flawless.
However, one red flag that we always consider when reviewing these brokers is whether they are licensed.
To run as a legitimate Forex broker in the stated jurisdiction, Ronghaninvest will need a license from either the FSPC or the national regulator of the Island.
Unfortunately, this broker does not hold a license from either of the regulators.
This puts customer funds at risk because the role of the regulators (which Ronghaninvest has side stepped) is to ensure that Forex brokers comply with international standards of transparency, plus liquidity must be sufficient enough.
If a broker is not regulated, it is easy for them to steal your funds or mishandle them since they don’t report their activities to any higher authority.
This broker has mentioned on their website that they are FCA-regulated but the truth is that FCA has disowned their statement, making them look bad in the eyes of investors.
Ronghan Invest cannot be anything but a scam broker. It does not matter whether they offer Forex, Indices, Crypto or stocks. They will cheat you.
Their actions says that they are doggy and can’t be trusted. Furthermore, they don’t appear to offer any demo accounts.
Why their minimum deposit is $500 is something we can’t explain. Just avoid them.