Richness Empire-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

Richness Empire (or Richness Forex) is a forex exchange dealer registered in the United Kingdom, with its actual address, founding time and the company behind it unknown to all. And Richness Empire is an unregulated broker already exposed as a potential scam by the financial authorities in the UK.

Market Instruments

Tradable financial instruments available on the Richness Empire include forex currency pairs, commodities, indices, stocks, crypto currencies.

Minimum Deposit

With respect to the minimum initial deposit offered by this broker, Richness Empire does not make this broker clear. In any case, most piers of Richness Empirerequire initial deposits in the range of $100 – $250.

Leverage

In terms of trading leverage offered, Richness Empire provides leverage of up to 1:1000, which is pretty excessive and dangerous for traders. Most regulators have restricted the leverage that could be offered to retail investors to levels well below 1:100.

Spreads & Commissions

Richness Empire‘s platform offers the fixed spread on the EUR/USD pair at 2.0 pips, which isn’t favorable for traders.

Trading Platform Available

To our surprise, what Richness Empire offers its traders is the widely recognized and famous MT5 trading platform. However, given the fact that this broker is an unregulated one, the availability of the latest MetaQuotes platform doesnt make it a credible brokerage firm.

Deposit & Withdrawal

When it comes to payment methods available, this is another piece of information we miss. In any case, most brokers accept VISA and MasterCard, bank wires, and e-wallets like Skrill, Paypal, Neteller, etc.

Trading Risks

It is never a good idea to work with an unregulated broker. This is because there is no excuse for a broker not to have at least some kind of license. The lowest-tier regulators have minimal requirements and oversight, and it is not a good idea to sign up with a broker with a low-tier license.