RubyMarkets-Overview of Minimum Deposit, Leverage, Spreads

Note: RubyMarkets' official website: https://rubymarkets.com is currently inaccessible normally.

Registered in the United Kingdom, RubyMarkets is an online forex broker offering diversified range of trading instruments, including Forex, Stocks, Commodities and Indices through the leading MT4 trading platform.

RubyMarkets is not authorized or regulated by any regulatory authorities to conduct forex and CFD trading services. Please be aware of the risk involved.

Pros and Cons

Is RubyMarkets Legit?

No, RubyMarkets currently has no valid regulations. Besides, their website is not available.

What Can I Trade on RubyMarkets?

RubyMarkets says it provides its clients easy access to a series of trading instruments, including Foreign Exchange, Precious Metals, Commodities, Stocks, Cryptocurrencies, Indices.

Account Type

RubyMarkets appears to offers its clients three live trading account types, namely Standard, Premium, and VIP accounts. To open a Standard account, an acceptable minimum deposit of $100 is required. While the minimum deposit for the other two accounts is not disclosed.

Besides, RubyMarkets allows traders to use a demo account funded with $10,000 virtual money for them to get a feel of this platform, and practice their trading skills.

Leverage

RubyMarkets offers the maximum leverage of 1:500. High leverage can result in substantial gains, but it also carries a high risk of significant losses.

Trading Platform

RubyMarkets provides the MT4 trading platform, available for Desktop, Mobile and Web terminals. However, the registration process raises significant concerns. RubyMarkets requires customers to provide their passport or ID number during sign-up, a practice that should be avoided. There is sensitive information such as ID numbers, NINO numbers, passport numbers, or bank account details should never be submitted during registration.

Deposit and Withdrawal

RubyMarkets allows clients to make a deposit through Credit Cards, Online Payment, Wire Transfer, ChinaUnioPay. If you make a deposit via credit card, PSP, the credited amount will be shown instantly. Deposits made through VISA, MasterCard, JCB charge a fee of 4.00%.

Concerning withdrawal, the minimum amount to withdraw for wire transfer would be 10 USD. The maximum amount that you can withdraw is limited to the amount of funds you have within your account.

Please note that withdrawals can only be done through wire transfer. The withdrawal amount will take about 2 to 3 business days to process. Withdrawals done by Tether are subject to a fee of 1.00%+USDT TRC20, 1.00% OR 5500.00 VND through PayBnB.