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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

RH Trade

United States|1-2 years|
Scam Brokers|Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.rhtradefx.com/en/index

Website

Rating Index

Contact

support@rhtradefx.com
https://www.rhtradefx.com/en/index
96 WADSWORTH BLVD NUM 127-3255 LAKEWOOD, CO 80226 U.S.A
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

This platform is a Ponzi Scheme. Please stay away!
2024-12-22
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
4

Basic information

Registered region
United States
Operating period
1-2 years
Company Name
RH Trade
Abbreviation
RH Trade
Company employee
--
Customer Service Email Address
support@rhtradefx.com
Company address
96 WADSWORTH BLVD NUM 127-3255 LAKEWOOD, CO 80226 U.S.A
Keywords 5
Scam Brokers
1-2 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

ichika

Japan

I started on October 16th and deposited a total of 300,000 yen. At the end of the year, there were suddenly no more transactions. And when I looked at the site at the beginning of the year, it was gone. I would like the remaining money refunded.

Exposure

01-09

ばんじー

Japan

This is the second time that I have not been able to withdraw the approximately $10,600 remaining in my account. The first time was on November 9th when I was told that the system would not approve the withdrawal. The cause seems to be that I did not log in or make any transactions for about 10 days. When I asked what I should do, I was told that as long as I logged in and made transactions for 15 consecutive days, I would be fine. From the next day until December 10th, I logged in every day and traded on my own without any guidance. The condition should now be clear. I requested a withdrawal again. This time, they asked me to pay taxes and fees. Do I have to pay tax every time I withdraw money? When I asked what the tax rate was, that question disappeared and I was told that I couldn't come to work unless I paid a 5% tuition fee, and they wouldn't take care of the formalities. I've indeed been tutoring since November. I was told that I would receive 5% of the profits. However, I was told that I could not teach because my account balance was low. At that time, I had about $10,900 in my account. Mr. Ishibashi, who was guiding me, told me to contact him when my account balance reached $20,000. In other words, I was asked to make an additional deposit. I don't have that kind of money, so I couldn't make a deposit. I gave up on the instructions and went through the withdrawal process. What this company says changes every time. I think they don't want to withdraw money. By the way, I was told that the 5% instruction fee is 5% on total assets, not on profits.

Exposure

2023-12-14

のき

Japan

When I try to process a withdrawal, I am charged one after another. First, there is a 5% instruction fee, and then there is personal income tax. I have never heard that it is necessary first, but when I withdraw money, I am charged one after another.

Exposure

2023-11-30

jun3658

Japan

I don't have money

Exposure

2023-11-28

マグ

Japan

It was said that spot price funds were needed to complete the oil transaction. I was told that there would be a 30% penalty if the payment was unsuccessful, so I worked hard to collect the funds. Thanks to some FX guidance regarding virtual currency, I managed to have the funds ready by the deadline and the transaction was completed successfully. I was told that there was a plan for further instruction, but when I tried to withdraw some of the funds, I was told that I needed to pay the instruction fee. Although I had not heard of this beforehand, thanks to the guidance I was able to reach the target amount, and after confirming that there would be no further charges, I made the payment. After confirming the payment, I was informed that the full amount could be withdrawn, so I applied for a withdrawal. Shortly after I applied for a withdrawal, I started being asked to pay acquisition tax. I asked them several times, but a few days passed with no progress and they just kept repeating, ``Pay your taxes.'' Meanwhile, the Financial Services Agency and the police. We also confirmed with lawyers and tax accountants that ``there is no system that requires tax payments for withdrawals from exchanges,'' and even when we told them this, they did not change their attitude. The amount that cannot be withdrawn is approximately $160,000 (25 million yen).

Exposure

2023-11-27

jun3658

Japan

Withdrawals are not possible during crude oil reservations. After that, you will not be able to withdraw money unless you pay the instruction fee. Withdrawals are refused for various reasons. I would be happy if we could somehow resolve this.

Exposure

2023-11-27

マグ

Japan

We were able to move forward with the crude oil trade that needs to be held until 11/21. When we checked in advance, we were told that it was possible with a leveraged budget, but halfway through we were told that we needed in-kind funds. There was also a clause that stated there would be a ``30% penalty fee'' if the agreement could not be fulfilled, so we managed to collect enough funds to become in-kind funds. I had confirmed that once the payment on November 21st was completed, I would be able to withdraw money freely on November 22nd, so for some reason I felt relieved at this point. Then, when the deadline came and the payment was completed successfully, I requested a withdrawal, but the withdrawal was refused because I was told that I would have to pay a transaction guidance fee. The funds I deposited were not enough to cover the requested physical funds, but I raised the shortfall through virtual currency FX under the trading guidance of the representative, so there was no need to incur any guidance fees in advance. I hadn't heard of it, but I thought it couldn't be helped and paid the bill. At the time of payment, I had confirmed that there would be no further charges, but now I was told that I would not be able to withdraw the money unless I paid the acquisition tax. Naturally, there was no way that we would have to pay the acquisition tax, so we consulted with them. This is a very large amount of money, so we would appreciate your help.

Exposure

2023-11-24

tatsu1124

Japan

Even though they say the money will be credited within 48 hours after canceling the claim, it has not been received.

Exposure

2023-11-23

tatsu1124

Japan

I made two deposits. Transfer to: Financial institution/Seven Bank Branch name: Cattleya Branch Branch number: 111 Account number: 2858026 Beneficiary name: Kyoko Kojima/Kiyoko Kojima Bank name: Higashiharu Shinkin Bank Branch name: Nagoya Branch Branch number: 014 Account number: 0013439 I deposited a total of 1,100,000 yen with my name (kana): Ka)CB.

Exposure

2023-11-20

tatsu1124

Japan

I transferred 1.1 million yen. I would like a full refund. It's too cruel.

Exposure

2023-11-19

マカロン

Japan

Until yesterday, I wanted to withdraw all my trades and funds, but I had to set conditions to prevent withdrawals, but today I can't log in to the exchange. The system does not open when I tap the exchange icon. $2177.52 is gone! It's a terrible vice. It's a scam.

Exposure

2023-10-25

マカロン

Japan

Since your number of trades has not yet reached the requirement of 5 lots per trade and 20 trades in total, all withdrawal amounts will be returned to your trading account. please confirm. Once you have completed 20 transactions, you will be able to withdraw again. As part of our cooperation, we will do our best to process your withdrawal requests. However, please understand that some restrictions may be due to regulations or company policies, so they cannot be completely avoided. We also ask that you complete a certain number of transactions before withdrawing the full amount. Thank you very much.

Exposure

2023-10-23

Phylis

Hong Kong

RH Trade gets top marks for their withdrawal options and trading platforms! Quick, secure withdrawals and a sleek platform make trading a breeze.

Positive

07-25

FX1525344715

Netherlands

One day, while navigating through economic indicators, I was blindsided by a sudden spike in the USD/CAD pair. Normally, platform lags during such peaks would spell disaster for traders, but with RH Trade's platform, order execution was quick without significant slippages. That, for me, was a testament to the platform's sturdiness!

Positive

2023-12-02

Trading gogogo

Cyprus

Recently, using their precise trading signals, I spotted a downward trend in the AUD/NZD pair. After making a short position — thanks to their quick order execution — I saw my prediction play out, and I could pocket a decent profit. For me, it was a milestone in my trading journey that manifested the convincing strength of ARH Trade's signals. So, as an ending note, I'd say RH Trade has been an ally in my forex journey that checks many valuable boxes. Their reliable platform, low spreads, zero commission, and impressive trading signals make it a worthy companion for forex traders at all levels.

Positive

2023-12-01

15
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Company Summary
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Official website

Website

  • rhtradefx.com

    Server Location

    United States

    Website Domain Name

    rhtradefx.com

    Server IP

    104.21.64.234

Company Summary

Note: Regrettably, the official website of RH Trade, namely https://www.rhtradefx.com/en/index, is currently experiencing functionality issues.

RH Trade Review Summary
Founded Within 1 year
Registered Country/Region United States
Regulation NFA (Suspicious Clone)
Market Instruments N/A
Demo Account N/A
Leverage N/A
EUR/ USD Spread N/A
Trading Platforms N/A
Minimum Deposit N/A
Customer Support Email: support@rhtradefx.com

What is RH Trade?

RH Trade, a recently established trading platform, claims to be registered in the United States. Their customer support can only be reached via email at support@rhtradefx.com. However, it is important to note that their regulation by the NFA is considered suspicious and raises concerns about their legitimacy. Additionally, their official website is inaccessible.

RH Trade

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros Cons
N/A
  • NFA (Suspicious Clone)
  • Some reports of withdrawal issues
  • Lack of industry experience
  • Inaccessible website
  • Limited communication channels

Cons:

- NFA (Suspicious Clone): RH Trade being regulated by the NFA as a “Suspicious Clone” raises concerns about their legitimacy and adherence to industry standards.

- Reports of withdrawal issues: There have been reports from users about difficulties in withdrawing funds from RH Trade, which suggests potential problems with their financial operations.

- Lack of industry experience: RH Trade lacks a track record or established presence in the industry, making it difficult to assess their reliability and expertise.

- Inaccessible website: The fact that the RH Trade website is inaccessible raises doubts about their credibility and transparency.

- Limited communication channels: RH Trade only offers limited communication channels, with customer support available solely through email. This leads to delays or difficulties in resolving issues or obtaining assistance.

Is RH Trade Safe or Scam?

There are suspicions that this broker's claim of being regulated by the National Futures Association (NFA) with a license number of 0559070 may be a clone or fraudulent. It is important to exercise caution and be aware of the potential risks associated with dealing with this broker.

suspicious clone NFA license

Additionally, the inaccessibility of their official website raises doubts about the trustworthiness of their trading platform. These factors contribute to an increased level of risk when investing in RH Trade. If you are considering investing with RH Trade, it is crucial to conduct thorough research and carefully evaluate the potential risks compared to the potential rewards before making any final decisions. In general, it is advisable to select brokers that are properly regulated to ensure the safety of your funds.

User Exposure on WikiFX

Our website has received reports of users being unable to withdraw funds from this broker. We advise traders to thoroughly review the available information and be aware of the risks involved in trading on an unregulated platform. Users are encouraged to check our platform for information before engaging in any trades. If you come across any fraudulent brokers or have been a victim of such, please report it to us in the Exposure section. Our team of experts will do everything in our power to assist you in resolving the issue.

User Exposure on WikiFX

Customer Service

Customers can get in touch with customer service line using the information provided below:

Email: support@rhtradefx.com

Conclusion

In conclusion, RH Trade is a trading platform that lacks transparency and credibility. It has been flagged as a “Suspicious Clone” by the NFA, calling into question its legitimacy. There have been reports of withdrawal issues, indicating potential problems with their financial operations.

Considering the above points, it is important to exercise extreme caution when dealing with RH Trade. The lack of regulation, reports of issues, and the inaccessible website are red flags that suggest potential risks for investors.

Frequently Asked Questions (FAQs)

Q 1: Is RH Trade regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: How can I contact the customer support team at RH Trade?
A 2: You can contact via email: support@rhtradefx.com.
Q 3: Is RH Trade a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and reports of unable to withdraw.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Keywords

  • Scam Brokers
  • 1-2 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

Review 15

All(15) Latest Positive(3) Exposure(12)
ばんじー

1-2 years

Japan

Exposure
This is the second time that I have not been able to withdraw the approximately $10,600 remaining in my account. The first time was on November 9th when I was told that the system would not approve the withdrawal. The cause seems to be that I did not log in or make any transactions for about 10 days. When I asked what I should do, I was told that as long as I logged in and made transactions for 15 consecutive days, I would be fine. From the next day until December 10th, I logged in every day and traded on my own without any guidance. The condition should now be clear. I requested a withdrawal again. This time, they asked me to pay taxes and fees. Do I have to pay tax every time I withdraw money? When I asked what the tax rate was, that question disappeared and I was told that I couldn't come to work unless I paid a 5% tuition fee, and they wouldn't take care of the formalities. I've indeed been tutoring since November. I was told that I would receive 5% of the profits. However, I was told that I could not teach because my account balance was low. At that time, I had about $10,900 in my account. Mr. Ishibashi, who was guiding me, told me to contact him when my account balance reached $20,000. In other words, I was asked to make an additional deposit. I don't have that kind of money, so I couldn't make a deposit. I gave up on the instructions and went through the withdrawal process. What this company says changes every time. I think they don't want to withdraw money. By the way, I was told that the 5% instruction fee is 5% on total assets, not on profits.
2023-12-14
マグ

1-2 years

Japan

Exposure
If you apply for a withdrawal after completing the payment, you will be charged an instruction fee, and once you pay, you will be charged an acquisition tax. No matter what I do, I won't accept withdrawals.
It was said that spot price funds were needed to complete the oil transaction. I was told that there would be a 30% penalty if the payment was unsuccessful, so I worked hard to collect the funds. Thanks to some FX guidance regarding virtual currency, I managed to have the funds ready by the deadline and the transaction was completed successfully. I was told that there was a plan for further instruction, but when I tried to withdraw some of the funds, I was told that I needed to pay the instruction fee. Although I had not heard of this beforehand, thanks to the guidance I was able to reach the target amount, and after confirming that there would be no further charges, I made the payment. After confirming the payment, I was informed that the full amount could be withdrawn, so I applied for a withdrawal. Shortly after I applied for a withdrawal, I started being asked to pay acquisition tax. I asked them several times, but a few days passed with no progress and they just kept repeating, ``Pay your taxes.'' Meanwhile, the Financial Services Agency and the police. We also confirmed with lawyers and tax accountants that ``there is no system that requires tax payments for withdrawals from exchanges,'' and even when we told them this, they did not change their attitude. The amount that cannot be withdrawn is approximately $160,000 (25 million yen).
2023-11-27
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