RMDTRADER Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-11 15:45

Abstract：Founded in 2018, RMDTRADER is an unregulated broker registered in Mauritius, offering trading in Forex, Indices, Shares, Commodities, Cryptocurrencies, ETFs, Bonds, and Options with leverage up to 1:100 and spread from 0.7 pips through the MT5 trading platform. There are three account types offered, and the minimum deposit requirement is $100.

RMDTRADER Review Summary
Founded	2018
Registered Country/Region	Mauritius
Regulation	FSCA (Expired)
Market Instruments	Forex, Indices, Shares, Commodities, Cryptocurrencies, ETFs, Bonds, Options
Demo Account	/
Leverage	1:100
Spread	0.7 pips (Standard account)
Trading Platform	MT5
Min Deposit	$100
Customer Support	Tel: 2304673003
Customer Support	Email: info@rmdtrader.com
Regional Restriction	US

　　Founded in 2018, RMDTRADER is an unregulated broker registered in Mauritius, offering trading in Forex, Indices, Shares, Commodities, Cryptocurrencies, ETFs, Bonds, and Options with leverage up to 1:100 and spread from 0.7 pips through the MT5 trading platform. There are three account types offered, and the minimum deposit requirement is $100.

Pros and Cons

Pros	Cons
Various trading products	Expired FSCA license
Multiple account types	Does not provide services in the United States
MT5 platform
Popular payment options

Is RMDTRADER Legit?

　　No. RMDTRADER currently has no valid regulations. It only holds an expired FSCA license. Please be aware of the risk!

Regulatory Status	Expired
Regulated by	Financial Sector Conduct Authority (FSCA)
Licensed Institution	RMD TRADE (PTY) LTD
Licensed Type	No Sharing
Licensed Number	50259

What Can I Trade on Foptrade?

Tradable Instruments	Supported
Forex	✔
Indices	✔
Shares	✔
Commodities	✔
Cryptocurrencies	✔
ETFs	✔
Bonds	❌
Options	❌

Account Type/Fees

Account Type	Standard	RAW	ISLAMIC
Min Deposit	$100	$10,000	$100
Spread	From 0.7 pip	From 0.3 pips	From 0.7 pips
Commission	Shares & Indices only	From $5 per round lot	All products

Leverage

　　RMD TRADER offers the maximum trading leverage of 1:100, which is kind of conservative. However, inexperienced traders should avoid using high leverage level, for margin trading is risky.

Trading Platform

　　RMDTRADER offers access to the top-rated MT5 trading platform, available on desktop, Android, and iOS devices.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	Desktop, Android, IOS	Experienced traders
MT4	❌	/	Beginners

Deposit and Withdrawal

　　RMDTRADER accepts bank wire, debit, or credit cards, and e-wallets. Withdrawals are made Monday to Friday from 9 am to 5 pm (South African Standard Time), and all other withdrawals are made within 24 hours.