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Rivobanc Review: Overview
Rivobanc presents itself as a premier forex broker, but it is imperative to recognize that it operates without regulation and lacks trustworthiness. Upon examining their website, clear warning signs appear, and our independent investigation reaffirms the dishonest practices employed by Rivobanc.
We highly discourage engaging in any transactions with this deceitful broker, as it neglects to offer the necessary security and protection that traders deserve. Succumbing to their tactics may lead to unfavorable consequences.
Website – http://www.rivobanc.com/
Address – NA
Regulation Status – Unregulated
Warned By – Alberta Securities Commission (Alberta), Financial Conduct Authority (FCA), Swiss Financial Market Supervisory Authority (FINMA)
Domain Age –
|January 26, 2024
|1 day, 12 hours, 46 minutes, 10 seconds
Rivobanc Review: Lack of Regulation
On its website, Rivobanc is circumspect about disclosing particular identification information. The company does not disclose its regulatory status or legal name, but it does list a registered office address in Lancy, Switzerland, indicating that the Swiss Financial Market Supervisory Authority may be keeping an eye on it.
We diligently searched the official FINMA register of licensed firms to confirm Rivobanc’s regulatory status, but we could not locate any document of the business. As such, this dishonest broker does not own a legitimate forex license, which makes dealing with them risky. It is important to remember that unregulated brokers have no legal repercussions when they embezzle traders’ money, thus victims have nowhere to turn.
Multiple Warnings Issued against Rivobanc
Rivobanc does not disclose its regulatory status, which is a trait frequently linked to brokers that are not authorized. Authentic brokers usually display their licenses and accreditations prominently.
Additionally, Rivobanc has been warned by regulatory bodies including the Financial Conduct Authority (FCA), the Swiss Financial Market Supervisory Authority (FINMA), and the Comisión Nacional del Mercado de Valores (CNMV) for offering financial services or products without the required authorization.
In actuality, no authority has any control over Rivobanc. It is dangerous to entrust this broker with managing investors’ money because there are no established legal safeguards. As such, it is considered a scam.
Rivobanc Review: Dubious Trading Platform
Rivobanc claims to offer the widely utilized desktop MetaTrader5 platform along with assured mobile versions of the software. However, during our efforts to register and download the platform, we encountered three significant red flags regarding their alleged high-quality software.
Firstly, we observed that the Rivobanc registration form requires traders to input a Promo code to access their software dashboard, a code we did not possess. This exclusive requirement for clients raises serious doubts, as it deviates from the standard practices followed by legitimate brokers.
Hidden Payment Options at Rivobanc: Proceed with Caution
Rivobanc fails to provide transparency regarding its available payment methods, a concerning sign that warrants careful consideration. Unfortunately, certain unscrupulous brokers hide this information on their websites and later limit traders to depositing funds solely through cryptocurrencies post-registration.
In contrast, trustworthy brokers offer a range of payment options to facilitate more convenient and accessible investing. These may include credit cards, wire transfers, and e-wallet payment systems like Neteller, Skrill, and PayPal, among other choices.
Unreliable Spreads and Risky Leverage
The lack of clarity from this untrustworthy broker extends to its spreads, with vague claims of being favorable. Given its non-transparent approach to crucial trading conditions and lack of regulation, Rivobanc does not inspire confidence as a reliable option.
In terms of leverage, Rivobanc entices traders with an enticing leverage of up to 50:1. It is essential to note that high leverage poses a considerable risk in forex trading, potentially resulting in substantial losses and the complete depletion of a trader’s account if not handled with caution.
Rivobanc Review: Conclusion
Rivobanc, despite its claims of being a top-tier forex broker, reveals itself as a scam through its deceptive practices, lack of transparency, and regulatory warnings. Traders are strongly advised to exercise extreme caution and avoid engaging in any financial transactions with Rivobanc.
If you’ve fallen victim to the Rivobanc scam or any other fraudulent scheme, seek assistance from Cyber Scam Recovery. Our website offers a free consultation to guide you through the fund recovery process. Don’t navigate the aftermath alone; trust the experts to help you reclaim your assets and address the impact of scams.