Ruizean Markets Review Is Ruizean Markets A Legit Or Scam Broker

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Ruizean Markets Review: Is Ruizean Markets A Legit Or Scam Broker?

Ruizean Markets is a brokerage in Cyprus and was formerly called RZT Capital Ltd. On the company website it is stated that it holds a license from CySEC. This means that the broker holds a license to run in Europe.

There are three accounts offered on Ruizean Markets and they differ in minimum deposit requirement and spreads.

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It offers clients a demo account to test the running before investing. The demo account was discovered to be the most expensive account type therefore showing good spread.

Ruizean Markets Trading Platform

The trading software used by Ruizean Markets runs on MT4 platform. It has been mentioned that the spreads differ from account to account. A standard account has a spread from 1.6 pips which is above the average.

Ruizean Markets has limited amount of trading instruments. It offers trades on assets such as currency pairs and CFDs on indices, precious metals, and commodities. These options are small compared to what other brokers offer.

A leverage of up to 1:400 is offered.

Deposits and Withdrawal Methods

Payments on Ruizean Markets can probably be made via the standard means: Visa, MasterCard and Bank transfer. It does not mention if other e-Wallets means are available.

It states that there is no commission charged on deposits and withdrawals. Ruizean Markets does mention a minimum requirement of $100. The broker does not give further information about funds on the page.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Ruizean Markets A Licensed Broker?

Yes, Ruizean Markets holds a license and is registered to the Cyprus Security and Exchange Commission. This means that fund misappropriation by this broker would be checked by the authorities.

Support

To contact Ruizean Markets customer care agents call: +61 2 9017 5230 (Sydney) or +61 3 9039 2399 (Melbourne).

Conclusion

The fact that Ruizean Markets is licensed in Cyprus is encouraging. Means that funds have a degree of safety with this broker. The high spread on the standard account is a disadvantage because not all clients will be able to afford the ECN account. There is also limited trading option open to traders.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Ruizean Markets Review – is ruizeanmarkets.eu scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Min. trade size Max. leverage Spread
Standard $200 0.01 1:30 from 1.6 pips
ECN $500 0.01 1:30 from 0.3 pips + $3.5 / lot (per side)
Pro $1 000 0.01 1:30 from 0 pips + $3.5 / lot (per side)

Ruizean Markets (previously RZT Capital) is a Cypriot brokerage that offers its clients three account types with access to the good old MetaTrader4 platform. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform.

Ruizean Markets Advantages

Licensed in Europe (Cyprus)

The brokerage is a trademark of Ruizean Markets Limited – a Cypriot Investment Firm (CIF), licensed by one of the most popular regulators in Europe – the Cyprus Securities and Exchange Commission (CySEC).

The regulatory environment in Cyprus is quite solid and provides significant guarantees to clients of locally regulated entities. Forex brokerages in the country should adhere to a number of strict rules, including certain capital adequacy requirements, segregation of clients’ funds, reporting transactions on a regular basis, provision negative balance protection, as well as compensation scheme coverage (to a maximum of €20,000).

Access to the MT4

As we mentioned in the beginning, the platform of choice of Ruizean Markets is MetaQuotes’ legendary MetaTrader4, simply known as MT4. This platform is preferred by most traders, beginners and professionals alike, because it provides perfect trading environment with great functionality. The software is light, fast, easy to use and reliable. Furthermore, it offers top-notch charting and is praised for the support of Expert Advisors – automated trading bots.

Competitive demo spreads

When we tried out Ruizean Markets’ platform, we saw the benchmark EUR/USD spread floating around 0.1 pips, and a commission of $7 applied per standard lot round turn. This means that the average trading costs are around 0.8 pips for this pair, which is a really good pricing. However, this seem to be the trading costs on Pro accounts, which require higher initial investment.

Ruizean Markets’ s MT4 in demo mode. Click on the image to zoom in.

Reasonable minimum deposit, high leverage for pros

In order to open an account with Ruizean Markets’, one has to deposit $100, which is a reasonably low amount to start with. Besides, clients of the broker who manage to qualify as professionals are able to use leverage higher than 1:30.

Although we generally consider the availability of high leverage levels as an advantage, we feel the need to warn investors that leverage is a double-edged sword. It can dramatically amplify your profits, however it can also just as easily amplify your losses. When you use excessive leverage, losing trades can quickly offset many winning trades.

Ruizean Markets Disadvantages

Announced spreads above the average

The spreads indicated on Ruizean Markets’ website are actually not good on all account types. More specifically, the benchmark EUR/USD spread on Standard accounts is starting from 1.6 pips, which is above the average in the sector. It turns out that one has to invest at least $500 with this broker in order to be able to use ECN spreads.

Below, you can look up the spreads of some of the best forex brokers in real time.

Not that many CFDs

Another minor disadvantage of Ruizean Markets is that its offer could have been broader in terms of tradeable assets. Currently, the broker offers trading solely in currency pairs, and CFDs on indices, precious metals, and commodities.

Actually, most brokers offer wider range of CFDs, also including stocks and cryptocurrencies like Bitcoin. If you are a crypto enthusiast, we have drawn up a list of some brokers offering Bitcoin CFDs which are reliable and licensed.

Conclusion

Overall, Ruizean Markets (previously RZT Capital) seems like a solid choice of forex brokerage. It holds a license with CySEC, supports the industry’s standard MT5 and seems to offer comparatively good trading conditions.

We also have to mention that the brokerage is a part of Australia-based Ruizean Group specializing in various financial services.

Let’s sum up the above in a few words:

Pros Cons
Licensed in Europe (Cyprus) Announced spreads above the average
MT4 supported Not that many CFDs
Competitive demo spreads
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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