WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

Rifa

United Kingdom|2-5 years|
High potential risk|

https://www.rifa-inc.com/en/

Website

Rating Index

Contact

https://www.rifa-inc.com/en/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

Rifa Technology Company Limited.

Abbreviation

Rifa

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 3
Previous Detection : 2024-11-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 28 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Rifa · WikiFX Survey

Users who viewed Rifa also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

STARTRADER

8.63
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

GTCFX

8.11
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)
Official website

IronFX

7.84
Score
10-15 yearsRegulated in CyprusMarket Making(MM)
Official website

Rifa · Company Summary

Note: Rifas official site - https://www.rifa-inc.com/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Rifa Review Summary in 10 Points
Founded 2020
Registered Country/Region United Kingdom
Regulation NFA unauthorized
Market Instruments Forex Currency Pairs, Precious Metals, Crude Oil, CFDs
Demo Account Not disclosed
Leverage Up to 1:500
EUR/USD Spread Not disclosed
Trading Platforms Proprietary platforms
Minimum Deposit USD 10
Customer Support Address

What is Rifa?

Rifa, Rifa Technology Company Limited., is a United Kingdom -based global brokerage firm who operates in Hongkong. It offers Forex Currency Pairs, Precious Metals, crude oil, as well as CFD products as its market instruments to traders. However, it is important to note Rifa currently has an NFA unauthorized regulatory status which raises concerns when trading.

In the upcoming article, we will thoroughly examine this broker's attributes from multiple perspectives, offering you straightforward and well-organized information. If you find this topic intriguing, we invite you to read further. Towards the conclusion of the article, we will also provide a concise summary to give you a quick overview of the broker's key characteristics.

Pros & Cons

Pros Cons
• Wide range of trading instruments across multiple asset classes • NFA unauthorized
• Acceptable minimum deposit • Lack of transparency
• Website unfunctional
• Limited details on payment methods
• Limited customer support channels
• Negative reviews from their clients
• No MT4/5 trading platforms

Rifa Alternative Brokers

There are many alternative brokers to Rifa depending on the specific needs and preferences of the trader. Some popular options include:

  • Forex.com- Forex.com is a reputable and well-established broker known for its user-friendly trading platforms and extensive educational resources, making it an excellent choice for both novice and experienced traders.

  • TigerWit- TigerWit offers innovative blockchain-based trading technology and a wide range of financial instruments, making it an attractive option for traders seeking cutting-edge solutions and diverse market opportunities.

  • TD Ameritrade-TD Ameritrade is a powerhouse in the brokerage industry, offering a comprehensive suite of investment services, advanced trading platforms, and research tools, making it a top choice for traders and investors looking for a full-service brokerage experience.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Rifa Safe or Scam?

Is Rifa Safe or Scam?

When considering the safety of a brokerage like Rifa or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: It is not regulated by any major financial authorities,which means that there is no guarantee that it is a safe platform to trade with. Besides, the official website of the broker is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

  • User feedback: 32 reports regarding scams and unable to withdraw on WikiFX should be taken into consideration as potential red flags. It is recommended to conduct thorough research and due diligence before engaging with any broker or investment platform.

  • Security measures: So far we cannot find any security measures info on Internet for this broker.

Ultimately, the decision of whether or not to trade with Rifa is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

Market Instruments

Rifa offers a diverse selection of market instruments to cater to the trading preferences of its clients.

Traders can delve into the world of Forex currency pairs, capitalizing on the fluctuations in global exchange rates.

Moreover, Rifa provides access to precious metals like gold and silver, allowing traders to participate in the dynamic commodities market.

For those interested in the energy sector, the inclusion of crude oil as a market instrument offers opportunities to speculate on oil price movements.

Additionally, Rifa offers CFD (Contracts for Difference) products, providing traders with a versatile range of assets to trade, from stocks and indices to commodities and cryptocurrencies.

Accounts

Rifa maintains an air of exclusivity regarding its account information, with no specific details available on its website. However, the broker offers a notably low minimum deposit requirement of just USD 10, which can be appealing to traders looking for an accessible entry point into live trading.

To access comprehensive account information, including spreads, leverage, and other trading conditions, interested traders are encouraged to directly reach out to Rifa. This approach ensures that prospective clients can obtain up-to-date and personalized details, allowing them to make informed decisions aligned with their trading preferences and financial goals.

Leverage

Leverage

Rifa offers its clients leverages up to 1:500. Leverage is a powerful tool that allows traders to control a larger position in the market with a relatively smaller amount of capital. With a leverage ratio of 1:500, clients have the potential to amplify their trading positions substantially, thus increasing the potential for both profits and losses.

While higher leverage can enhance trading opportunities, it also comes with increased risk, as market fluctuations can have a more significant impact on account balances. Traders are advised to approach leveraged trading with a thorough understanding of the associated risks and to implement risk management strategies diligently.

Trading Platforms

Rifa offers proprietary trading platforms to its clients, providing a unique and potentially advantageous trading experience.

However, specific details about these proprietary platforms are not available on the broker's website and Internet. Interested traders seeking more information about these specialized platforms are encouraged to reach out to Rifa directly to gain insights into the features, functionalities, and benefits of these proprietary platforms, ensuring they have the necessary information to make informed decisions and potentially optimize their trading strategies on Rifa's platform.

See the trading platform comparison table below:

Broker Trading Platforms
Rifa Proprietary platforms
Forex.com Forex.com and MT5
TigerWit WebTrader, Mobile App
TD Ameritrade Thinkorswim

User Exposure on WikiFX

On our website, you can see that total 32 reports of scams and unable to withdraw which should be marked as red flag. We strongly urge traders to conduct a thorough review of the information at their disposal. Before engaging in any trading activities, we recommend checking our platform for relevant information. Should you come across any suspicious or fraudulent brokers or have unfortunately fallen victim to such entities, please don't hesitate to inform us through the Exposure section. Your cooperation is greatly appreciated, and our team of experts will make every effort to assist in resolving the issue for you.

User Exposure on WikiFX

Customer Service

Rifa does not offer direct customer service support via phone or email, as such information is not provided on the site. However, they do have a physical address in Hong Kong, indicating that they may provide in-person customer service or support through mail.

Address: Suites 3510-3515, 35/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong.

Conclusion

According to available information online, Rifa is a UK-based brokerage firm who operates in Hongkong. It offers Forex Currency Pairs, Precious Metals, Crude Oil, CFDs as market instruments to traders.

However, the fact that it is NFA unauthorized regulatory status is an immediate red flag, as regulated brokers are subject to oversight and compliance with established financial regulations, providing clients with a level of assurance and protection. The lack of proper regulation and oversight increases the potential risks for traders, leaving them vulnerable to potentially fraudulent activities or misconduct. Additionally, an unfunctional website indicates a lack of professionalism and attention to details, which further erodes confidence in the company's ability to provide reliable and efficient services. Besides, 32 reports of scams and unable to withdraw that also raise concerns.

As such, individuals considering Rifa as their brokerage firm should exercise extreme caution and thoroughly research alternative, regulated options that prioritize transparency, security, and accountability.

Frequently Asked Questions (FAQs)

Q 1: Is Rifa regulated?
A 1: No. It has been verified that this broker currently has an NFA unauthorized regulatory status.
Q 2: What kind of trading instruments does Rifa offer?
A 2: Rifa is a UK-based brokerage firm offers Forex Currency Pairs, Precious Metals, Crude Oil, CFDs as market instruments to traders.
Q 3: Is Rifa a good broker for beginners?
A3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of the lack of transparency and 32 reports of scams/unable to withdraw on WikiFX.
Q 4: Does Rifa offer the industry leading MT4 & MT5?
A 4: No.
Q 5: Whats the minimum deposit does Rifa request?
A 5: The broker requests a minimum deposit of USD 10.

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.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Review 33

33 Comments
Write a comment
All(33) Latest Neutral(1) Exposure(32)
Scroll down to view more
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com