Redromanticwealth-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

Founded in 2009, Redromanticwealth is a Belize registered forex broker. Although Redromanticwealth claims that it is authorized and regulated by the Belize International Financial Services Commission (IFSC) (license number: 000261/158), but no result is found on the IFSC website, which means Redromanticwealth is actually an unregulated broker.

Market Instruments

In terms of tradable financial instruments, Redromanticwealth offers trading in forex currency pairs, commodities, indices, metals and energy.

Minimum Deposit

In terms of minimum deposit, Redromanticwealth does not make this part clear.

Leverage

The maximum trading leverage offered by Redromanticwealth is up to 500:1, which is considered high. Since leverage can magnify returns as well as potential losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Redromanticwealth claims that it offers variable spreads, as low as 0.0 pips, but does not specify spreads on particular instruments. This is obviously an advertisement used by Redromanticwealth to attract new traders instead of real trading conditions.

Trading Platform Available

Redromanticwealth offers MT5 trading platform (available in PC/MAC, Tablet, Mobile devices). MT5 features include:

ž Multi-asset investment platform with more than 100 trading varieties

ž 100 charts can be displayed at the same time

ž Support all order types, including current orders, pending orders, stop-profit and stop-loss and trailing stop-loss

ž More than 80 technical indicators and 40 analysis tools

ž Excellent built-in MQL5 development environment

ž Multi-currency tester and alarms

Deposit & Withdrawal

Redromanticwealth does not disclose what payment methods it supports. In most cases, most brokers allow traders to fund their accounts through Credit Cards, wire transfer, Skrill and Neteller.

Customer Support

Redromanticwealth allegedly offers 24*7 customer support service, and they say they can be reached through online chat, but its online chat is not real-time, you need to fill in some information and then wait to be connected.

Trading Hours

London peak trading hours – 8 am GMT to 5 pm GMT; Euro, British pound and U.S. dollar are the most frequently traded currencies.

U.S. peak trading hours – 1 pm GMT to 10 pm GMT; US dollar, euro, British pound, Australian dollar and Japanese yen are the most frequently traded currencies;

Peak trading hours in Asia-from 10 pm GMT on Sunday afternoon to the start of European trading, around 9 am GMT; not suitable for day trading.

Restricted Regions

Redromanticwealth does not provide services to residents of certain countries/regions, such as the United States, Canada, Israel, and the Islamic Republic of Iran.