R-Yltd is one of the companies where you don’t need to have trading experience to realize you are dealing with a scam. The scheme’s name does not even show what the firm is dealing with. This is another random Ponzi scheme that will leave you high and dry. You can change the Chinese Language to English on the top right side.
However, this does not translate everything information. The broker is mainly targeting Chinese citizens. We also believe the people behind the scam have no clue about forex trading. The company does not even have unique information showing why customers should choose the venture.
R-Yltd was established in Jan 2021. The entity has survived in the market for one year yet has no proof of trade. The scheme’s least would have done to publish its performance report to win over more customers. Unfortunately, you are only likely going to face more shortcomings by venturing with the offshore entity.
Nonetheless, the firm is allegedly trading forex, crypto, commodities, and CFDs. These products are profitable. Diversifying your risks by trading in various products is ideal. Nonetheless, you should know the market is volatile. Hence, before opening an account, at least know the financial market. Failure to do that, you will keep falling for fraudsters’ narratives.
Trading has become easy, unlike in the past. You do not need a huge capital to kickstart the activity. All you need is a reliable broker and excellent trading skills. The number of scammers in the market continues to increase as well. They use intriguing adverts to trap more victims.
It is common to encounter brokers promising fat bonuses. Other shady firms will require customers to refer more people to earn a commission. Never participate in offshore schemes or affiliate programs. People who lose money to the broker may be close to you and end up blaming you for the loss.
Moreover, before accepting the promotions and bonuses, it is essential to read the terms and conditions policy. Brokers use shady clauses to limit customers from withdrawing funds. R-Yltd is one of those platforms not worth your time or resources.
Eventually, the scheme is going to exit the market. Those who will have entrusted the offshore firm will be left counting loose. There are several genuine forex trading companies in the market. These are fully regulated ventures that will help you attain better trading skills.
R-yltd Trading Conditions
The trading platform presented by R-Yltd is shady. Installing such an interface on your computer can compromise your data. We believe this is malware, and the people behind the company are lethal fraudsters.
Other genuine trading platforms like MetaTrader, cTrader and web traders don’t have the same appearance. Great software will allow clients to access an economic calendar and technical and fundamental analysis tools. Clients should also choose to either trade manually or automatically.
For instance, the MT5 allows clients to keep watch of their open trade with VPS even with their computers off. The interface is easy to use, and customers can access multiple markets under one roof. You could also customize EAs and optimize your trading experience.
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R-Yltd does not feature trading conditions. However, given this is a Ponzi scheme, you can expect unfavorable terms. The entity can push customers to accept high leverage than the approved cap. If you make a loss, the broker will benefit. The bogus trading platform will display whatever the scammers want it to show.
Withdrawal and Deposit
R-Yltd fails to provide withdrawal and deposit information. We do not know the minimum amount you can deposit or withdraw. Additionally, nobody can tell what the trading is if there are applicable fees. The reason why scammers hide such crucial information is to exploit clients without being questioned.
The company can only manage to deceive rookie traders. You will rarely find experts dealing with outrageous companies. The fact the scheme lacks a terms and conditions policy is enough reason to refrain from engaging in fraud.
R-Yltd can imply hidden charges. They will use ridiculous terms to limit you from cashing out if you accept their bonus. The best thing you can do to avoid the apparent scammers is to deal with regulated companies.
Contact Details and Customer Support
R-Yltd is determined to remain anonymous. The scheme is operating in a discreet remorse location. Their office address is missing from the website. The only thing available is an email address. The phone number is incomplete, and it is impossible to use it.
Genuine brokers will have a phone number for customers to reach them fast and easily. The team is also friendly and professional. Within no time, your issue will have been resolved.
On the other hand, scammers will not even bother answering your phone. They will be unreachable once they shut down their website. R-Yltd does not have existing customers. Nobody endorses them or discloses the quality of support you will get. Nonetheless, this is not the first scam we have encountered. All of them run in the same manner.
R-yltd Regulatory Status
R-Yltd purports to be operating from Hong Kong. However, China has a strict financial body overseeing the operations of investment schemes. The Hong Kong Security and Future Commission (SFC) does not authorize the broker to collect money from the public.
There are many financial watchdogs in the market. They all recommend investing with licensed companies. If any dispute arises, the agencies can help customers. Additionally, these ventures ensure there is a conducive trading environment. They set up capital requirements that brokers must adhere to.
If a company cannot afford the capital, then it won’t receive a license. The amount varies from one regulator to the other. The UK’s capital is 730K, and in the USA, it’s $20 million. The money is kept in a separate account. It shows the firm can withstand the volatility in the market without compromising customers’ funds.
R-Yltd is not regulated, and they can shut down their website unceremoniously. They won’t give notice or give back customers their funds. Trading with regulated companies gives you peace of mind.
R-yltd Fund Safety
R-Yltd does not care about customers’ fund safety. The entity is an illegitimate platform. The company does not mention the bank it works with. This is not a mistake, and the moment you lose money, that will be the end of it. The most likely scenario is the scammers accepting funds directly into their accounts.
The entity does not report its transactional activities to the financial bodies. Anything can happen. The company can manipulate the market price. There is no transparency on this website. Investors who join R-Yltd can lose more money than what they deposited. This is because the scheme doesn’t have negative account balance protection.
Another red flag is R-Yltd lack of customer reviews. Why hasn’t anyone bothered to endorse their services if the entity has been in the market for years? There is also a lack of performance reports.
Anyone who deposits with this broker will only end up making loose. R-Yltd is an illegitimate pathetic scheme. The website interface is also poorly designed. All we see are red flags. The venture is anonymously in business. Nobody knows the firm’s actual area of operation or customer experience.
Here is a list of some of the best forex trading companies. These are reliable and transparent brokers with years of unrivaled experience. The firms have won various awards for their dedicated services. Investors also report the best encounter.