Introduction
RWMarkets is a brokerage firm that offers a range of trading services to investors across the globe. These services include forex trading, commodities, indices, and shares. The firm prides itself on providing a secure and transparent trading environment, coupled with advanced trading tools and excellent customer support. However, some areas of their operation have raised concerns among users. In this review, we’ll take a comprehensive look at the offerings of RWMarkets, their strengths, and the areas they need to improve upon.
Trading Platforms
MetaTrader 4
RWMarkets offers the popular MetaTrader 4 (MT4) platform for its clients. MT4 is renowned for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators. It also supports automated trading through the use of Expert Advisors (EAs). However, the absence of the newer and more advanced MetaTrader 5 platform is a notable downside.
WebTrader
In addition to MT4, RWMarkets also provides a WebTrader platform. This web-based platform allows traders to access their accounts and trade from any computer without needing to download or install any software. While this platform is convenient and easy to use, it lacks some of the advanced features and functionality of the MT4 platform.
Account Types
RWMarkets offers a variety of account types to cater to different types of traders. These include Mini, Standard, Gold, Platinum, and VIP accounts. Each account type comes with its own set of features and benefits, such as dedicated account managers, free market analysis, and lower spreads. However, the minimum deposit required for the higher-tier accounts may be a deterrent for some traders.
Customer Support
Customer support is an area where RWMarkets excels. They offer 24/5 customer support via phone, email, and live chat. Their support team is responsive and knowledgeable, providing prompt and helpful answers to queries. However, the lack of 24/7 support might be an issue for some traders, especially those trading on a different timezone.
Regulation and Security
One of the primary concerns about RWMarkets is its regulatory status. The firm is not regulated by any recognized financial regulatory body. This lack of regulation raises questions about the safety of funds deposited with the broker. While RWMarkets claims to have measures in place to secure clients’ funds, the absence of regulatory oversight is a significant drawback.
Conclusion
RWMarkets offers a decent range of trading services and features, including a user-friendly platform, a variety of account types, and excellent customer support. However, the lack of regulation and the absence of the MetaTrader 5 platform are significant drawbacks. Potential clients should weigh these factors against the broker’s offerings before deciding to open an account. It is always recommended to trade with a regulated broker to ensure the safety of your funds.
I found the services at RWMarkets to be average and satisfactory.
I am extremely disappointed with the broker’s performance at RWMarkets and feel they have provided subpar service.
I had a terrible experience with RWMarkets. The customer service was unhelpful and often rude. I also found their trading platform to be outdated and difficult to navigate. Overall, I would not recommend using RWMarkets as a broker.