Overview of Ruizean
Ruizean, founded in 2014 in Australia, operates without regulatory oversight, flagged as a suspicious clone by ASIC. It offers forex and CFDs as primary trading assets, with a Standard account requiring a minimum deposit of $200 and providing spreads starting from 1.8 pips. Pro accounts feature tighter spreads from 0.1 pips but levy a commission of $3.5 per lot on forex trades.
The company supports MetaTrader 4 for desktop and mobile, facilitating technical analysis and automated trading. However, its inaccessible official website and limited customer support options pose significant challenges for users, while the regulatory uncertainty adds to operational risks.
Regulatory Status
Ruizean's regulatory information, particularly regarding Appointed Representatives (AR), Institution Forex Licenses, Institution Forex Licenses (STP), and Common Business Registration, is overseen by the Australian Securities and Investments Commission (ASIC).
Ruizean's licenses are revoked or are flagged as a suspicious clone, it significantly undermines investor confidence and raises risks of operational integrity. Such actions cast doubt on the platform's reliability and security, potentially deterring traders from engaging due to heightened risks and uncertainties.
Pros and Cons
Market Instruments
Ruizean offers a selected range of trading instruments to its clients, prominently featuring forex and CFDs among its offerings. However, assets such as stocks and precious metals are notably absent from its available options. This limits the variety of trading choices available to investors on the platform.
Account Types
The company offers two account types: Standard and Pro.
Transactions on a Standard account incur no commissions, while Pro accounts are charged a commission of $3.5 per lot for currency pairs only. There are no commissions for transactions involving Metals or CFDs.
Both account types include access to a demo account.
Spreads begin at 1.8 pips for Standard accounts and 0.1 pips for Pro accounts, enhancing trading flexibility based on chosen account type and trading strategy.
Leverage
Ruizean offers a maximum leverage of 1:400 to traders. This allows them to control larger positions with a smaller amount of capital, amplifying both potential profits and risks in their trading activities.
Spreads & Commissions
Ruizean offers competitive spreads and commissions across its account types.
For Standard accounts, spreads start from 1.8 pips, while Pro accounts enjoy tighter spreads starting at 0.1 pips.
In addition, Standard accounts have no commission charges, whereas Pro accounts incur a commission of $3.5 per lot for forex transactions.
Trading Platform
Ruizean Markets provides clients with the standard MetaTrader 4 platform, accessible via its mobile version.
MT4 is renowned for its comprehensive array of tools and features, including a wide selection of technical indicators, advanced charting capabilities, and the ability to utilize Expert Advisors for automated trading strategies.
Deposit & Withdrawal
Ruizean facilitates deposits primarily through wire transfers, providing a straightforward payment method for its clients. The minimum initial deposit required to open an account with Ruizean is set at $200, ensuring accessibility for a broad range of traders.
Customer Support
Ruizean offers customer support accessible via email at info@ruizean.com. For direct inquiries or assistance, they provide a contact number: +61 2 9017 5200.
Conclusion
In conclusion, Ruizean presents as a risky choice for traders due to its unregulated status and the designation as a suspicious clone by ASIC.
While it offers competitive spreads and utilizes the popular MetaTrader 4 platform, significant drawbacks such as an inaccessible official website and limited customer support capabilities hinder user experience and operational reliability. These factors, coupled with the lack of regulatory oversight, underscore the inherent risks involved in trading with Ruizean.
FAQ
What trading instruments does Ruizean offer？
Ruizean offers forex and CFDs as its primary trading instruments.
Is Ruizean regulated？
No, Ruizean is not regulated and has been flagged as a suspicious clone by ASIC.
What are the account types available on Ruizean？
Ruizean offers Standard and Pro accounts, each with different spreads and commission structures.
What is the minimum deposit required to open an account with Ruizean？
The minimum deposit for a Ruizean account is $200.
What trading platform does Ruizean support？
Ruizean supports MetaTrader 4 (MT4) for both desktop and mobile trading.
How can traders contact Ruizean's customer support？
Traders can contact Ruizean's customer support via email at info@ruizean.com or by phone at +61 2 9017 5200.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
