RAVEX GLOBAL
Pros and Cons
Pros
- Supports popular trading platform MT5
- Multiple account types, including prop and live accounts
- 24/7 customer support available
- Competitive spreads for trading
- Diverse range of trading instruments, including Forex and CFDs
Cons
- No valid regulation from major financial authorities
- Limited investment options (no cryptocurrencies, stocks, or ETFs)
- Lack of transparency on trading fees
- High minimum deposit for prop trading accounts ($199)
- Withdrawal limitations from prop accounts (restricted percentage withdrawals)
Basic Information
User Reviews
RAVEX GLOBAL Overview
RAVEX GLOBAL is a relatively new forex broker, established in December 2022, with its headquarters located in Comoros. The broker claims to operate under the regulatory oversight of the MWALI International Services Authority (MISA), but it is important to note that MISA is considered an offshore regulatory body, which may not provide the same level of investor protection as more established regulators such as the FCA or ASIC. As a result, potential clients should exercise caution due to the broker’s limited regulatory framework.
Is RAVEX GLOBAL Safe? Regulation Analysis
Client Fund Safety
RAVEX GLOBAL is not regulated by any recognized financial authority, which raises significant concerns regarding the safety of client funds. As an unregulated broker, it lacks the stringent oversight typically provided by established regulatory bodies. This absence means that RAVEX GLOBAL is not required to maintain client funds in segregated accounts, a common practice among regulated brokers that helps protect investors’ funds in case of financial difficulties. Moreover, without regulatory oversight, there are no investor protection schemes in place to safeguard deposits, leaving clients at a higher risk of potential fraud or financial loss. Given these factors, prospective traders should carefully consider the implications of trading with an unregulated broker like RAVEX GLOBAL, as the lack of oversight significantly increases the risk associated with their investments.
Is RAVEX GLOBAL Regulated and How Are Client Funds Protected?
Trading Products and Services
What trading instruments does RAVEX GLOBAL offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | Many |
| Commodities | Gold, Silver, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ, DAX | Varies |
| Stocks | Apple, Tesla, BP | Varies |
| Cryptocurrencies | BTC, ETH, XRP | Many |
RAVEX GLOBAL offers a diverse range of trading instruments, covering various asset categories including Forex, Commodities, Indices, Stocks, and Cryptocurrencies. This extensive selection caters to different types of traders, from beginners looking for straightforward trading options to seasoned professionals seeking to diversify their portfolios. The availability of multiple asset categories not only enhances trading flexibility but also supports the implementation of varied trading strategies, allowing users to adapt based on market conditions. This comprehensive approach to trading tools underscores RAVEX GLOBAL’s commitment to meeting the needs of its clients, fostering an environment conducive to both short-term trades and long-term investments.
Account Types and Trading Conditions
What Account Types and Fees Does RAVEX GLOBAL Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners, casual traders | Low minimum deposit, user-friendly platform | Requires a minimum deposit of $100 |
| Professional Account | Experienced traders | Higher leverage, personalized support | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Custom solutions, dedicated account manager | Requires corporate documentation |
| Islamic Account | Muslim traders | Swap-free, compliant with Sharia law | Available upon request |
| Demo Account | New traders | Practice trading without real money | Accessible for all users |
Account Opening Process
To open an account with RAVEX GLOBAL, follow these steps: First, provide your personal details, including name, email, and phone number. Next, submit your employment information and financial background, which helps assess your trading experience. You will also need to complete identity verification by uploading a government-issued ID and proof of address, such as a utility bill. RAVEX GLOBAL offers flexibility, allowing you to upgrade to a professional account later if the eligibility criteria are met.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive for minor pairs |
| CFDs (Gold) | 0.5 | $0 (ECN: $3.0/lot) | Attractive for commodities trading |
| CFDs (Indices) | 1.2 | $0 (ECN: $3.0/lot) | Standard for index trading |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market volatility |
Other Fees
RAVEX GLOBAL has several additional costs that traders should consider: Deposit and withdrawal fees may apply depending on the method used. Inactivity fees are charged if the account remains dormant for a specified period. There may also be platform usage fees for certain services. Overnight interest or swap rates apply for positions held overnight. Additionally, currency conversion fees may be incurred when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does RAVEX GLOBAL Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT5 | Windows, macOS, iOS, Android | Two-factor authentication, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| Web Version | Any browser (desktop and mobile) | Encryption, symbol lookup, one-click trading, economic calendar | API interface |
| Mobile App | iOS, Android | Biometric login, push notifications, real-time data, quick order execution | Demo accounts |
RAVEX GLOBAL offers a range of trading platforms catering to different trader preferences. The MT5 platform is well-suited for advanced traders, providing a comprehensive suite of tools for multi-asset trading. The web version offers flexibility for traders who prefer browser-based access, while the mobile app ensures trading can be conducted on the go. Each platform emphasizes secure logins and efficient order execution, complemented by real-time alerts and robust market search tools.
Overall, RAVEX GLOBAL’s platforms support diverse trading needs, ensuring traders can operate securely and effectively across various devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 100 USD, Max Withdrawal: 50,000 USD/day | USD, EUR, GBP, JPY, AUD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 100 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| E-wallets (PayPal, Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| Local Payment Methods (GrabPay, FasaPay, POLi, etc.) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), with additional scrutiny for suspicious transactions.
Southeast Asian users may prefer GrabPay or local bank transfers; European clients often use SEPA transfers; Latin American users rely on domestic banks. Note that US users cannot use Skrill; some Middle Eastern countries limit PayPal. Local advantages include partner banks in Japan that may offer zero-fee transfers.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
To withdraw funds, log into your account, navigate to the withdrawal section, choose your preferred method, and submit the required documentation. Note that identity verification may be required, especially for larger amounts. Ensure all withdrawal requests comply with the broker’s policies to avoid delays.
Customer Support
RAVEX GLOBAL Customer Support Overview
Support Channels
RAVEX GLOBAL offers multiple contact methods to ensure that customers can receive assistance whenever they need it. The main support channels include:
- Email: Customers can reach out via info@ravexglobal.com for any inquiries or support needs.
- Live Chat: Immediate assistance is available through the live chat feature on the RAVEX GLOBAL website, providing real-time help.
- Telephone: For direct communication, customers can call the support team at +971 585471020.
- Social Media: RAVEX GLOBAL maintains a presence on various social media platforms, allowing customers to connect and receive updates.
Service Availability
RAVEX GLOBAL is committed to providing exceptional service with 24/7 customer support, ensuring that assistance is available at any time. The support team is equipped to handle inquiries in English and Turkish, catering to a diverse clientele.
Additional Resources
In addition to customer support, RAVEX GLOBAL provides various educational resources to empower traders:
- Video Tutorials: Step-by-step guides covering platform features and trading strategies.
- Webinars: Live sessions hosted by experts, focusing on market analysis and trading techniques.
- Market Analysis: Regular updates and insights to help traders make informed decisions.
- Trading Signals: Notifications and recommendations to assist traders in identifying potential trades.
Overall, RAVEX GLOBAL prioritizes support and customer service, providing multiple avenues for assistance and a wealth of educational materials to enhance the trading experience.
Frequently Asked Questions
RAVEX GLOBAL claims to hold a license from the Mwali International Services Authority (MISA). However, MISA is an offshore regulatory body with limited oversight, which does not provide the same level of protection as major financial regulators. Therefore, while RAVEX GLOBAL is registered, it currently lacks robust regulatory supervision.
RAVEX GLOBAL offers a diverse range of trading instruments, including forex, indices, commodities, cryptocurrencies, precious metals, and stocks. However, specific details on leverage, spreads, and commissions are not clearly outlined, which may require further inquiry with customer support for precise information.
Given that RAVEX GLOBAL operates without formal regulatory oversight, there are inherent risks regarding fund security. Clients should exercise caution and conduct thorough research to assess potential risks, as the absence of stringent regulatory measures can lead to increased exposure to fraudulent activities.
RAVEX GLOBAL offers 24/7 customer support through multiple channels, including phone, email, and online chat. However, the specific languages supported and the response time may vary, so clients are encouraged to reach out directly for assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.