The trading brand Ramadanfx claims to be operated by Radiant Ltd. With its NFA membership and MSB registration in the US, the company could be absolutely legitimate. However, there are many signs that it is not.
Once you start digging deeper, irregularities come up one by one. Don’t waste time. We’ve got everything sorted out for you in this Ramadanfx review. Even the advice on the refund process.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Ramadanfx.com |
| Have Warnings from: | FCA |
| Registered in: | US (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, forex, commodities, indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Withdrawing funds from an absolutely fake brokerage is practically impossible. Especially not after a warning from the FCA. To get started with funds recovery, get in touch with our refund experts for a free first consultation meeting. |
Legal info: Is Ramadanfx Legit or a Scam?
As can be seen from the company’s presentation, they claim to be MSB registrants and NFA members. Thus, the company’s NFA membership number 0559397 leads to Ark Global LTD and not Radiant Ltd. Nevertheless, the company doesn’t have the CFTC or SEC authorization to provide services in the US.
On top of that, when we checked the FCA register we found a warning against them. This company was exposed after literally one month of existence. Bravely, they decided to put different ownership details on its website to delude traders. Luckily, the domain remains the same.
Who are Ramadanfx’s Victims?
Practically, unregulated companies don’t have any restrictions, even though they might claim to have. With a months-old domain, the company managed to spread in Europe and the US. Most of their victims come from:
- United States
- United Kingdom
- France
- Germany
With quite strong regulatory oversight in these countries, it’s only a matter of time before other warnings pile up. To contribute to that, we invite you to share your experience with this brokerage. You can also contact us directly if you don’t want to waste any time and start the chargeback process today.
Traders Reviews
Even though there are not many Ramadanfx reviews, a 100% rate of negative comments on Trustpilot confirms the allegations.
With this broker, only one thing is certain. That trader won’t have the option to withdraw their funds. If that happens, don’t hesitate to reach out to our refund specialists for a free first meeting.
Leverage, Commissions, Spreads, Fees and Taxes
An important aspect of trading is trading costs. If a company charges expensive fees and commissions, traders gladly change their broker. However, with Ramadanfx broker, such details remain a mystery until you start trading.
If you are unsure if you can trust them, just check the leverage they offer. If it’s anything higher than 1:50 for US/Canadian traders or 1:30 for European traders, it’s a fraud. To see what transparent conditions look like and some extra advice, check our LDN Global Markets review.
Bonuses
Another common trick swindlers use to manipulate customers is welcome bonuses. Once traders accept any, they get stuck practically forever because of shady clauses. To be fair, Ramadanfx trading firm doesn’t offer any. For now.
Ramadanfx Trading Features
Generally, all trading features with this broker are expected of a scam broker. In fact, all options available on their platform can be found on any mediocre web-based third-party platform. Thus, with the company’s poor presentation, it’s hardly believable that any of the features they offer actually work.
Trading Platforms Available
At first glance, it might appear the company offers MetaTrader. But they don’t. The Ramadanfx platform is completely web-based and includes only basic functionalities, such as timeframe modifications, charting optimization, and basic indicators. Sadly, copy trading, EAs, or similar features are not available.
Available Trading Assets
At least one transparent thing about the company is the instruments it offers. Fairly, quite poor one. There are only a few options from each category available, such as:
- Forex – EUR/USD, EUR/AUD
- Commodities – copper, platinum
- Indices – S&P500, NASDAQ
- Cryptos – Doge, Bitcoin
Account Types
It’s important to realize that the company doesn’t reveal the minimum deposit requirements, nor do they offer any benefits for loyal clients who trade or deposit more money. However, you shouldn’t be surprised if you get some non-existent offers once you sign up with them.
Mobile Trading App
Apparently, the company’s software can be used across all platforms. Thus, download options on the company’s website don’t work. Therefore, to sum it up, Android and iOS apps don’t exist.
Demo Account
Once you complete the Ramadanfx login procedure, having a demo account option would be reasonable, especially with the company’s mysterious trading costs. Unfortunately, for that, you will have to find another trading firm. But make sure it’s not Lidcoin.
Education
Educational material with this company consists only of general terminology explanations. Unfortunately, webinars, 1-on-1 sessions, and other advanced educational options are unavailable.
Ramadanfx Withdrawal
As can be seen, one of the highly promoted Ramadanfx withdrawal options is cryptocurrencies. But that’s also a deposit option and not the most convenient one in this case. In any case, the company doesn’t have a transparent withdrawal policy.
Consequently, traders can expect various excuses for not having their withdrawals approved. The most common ones are non-existent fees and taxes. This way, the company tries to extort the last money from inexperienced traders and vanish.
Customer Support
When it comes to contact options, the company only provides one e-mail address. Yet, they present themselves as transparent and convenient brokerages. Obviously, the reality is much different.
Key Information To Consider About Ramadanfx
As can be seen, Ramadanfx is only misleading its customers. They are not licensed, and there’s already one warning against them. With all this in mind, you shouldn’t even think about depositing with them.
But if you did, don’t waste any time. Contact our refund team now to start the chargeback process. Don’t give them enough time to steal your money.
FAQ Section
What is Ramadanfx?
Ramadanfx is an anonymous FX and CFD trading firm that has been operating since December 2023.
Is Ramadanfx A Real Broker?
No. The company has been operating without regulations. Also, they appear on the FCA warning list. If you were one of their victims, contact us for refund advice.
Where is Ramadanfx Located?
According to the company, Ramadanfx firm which is operated by Radiant Ltd is based in the United States. But MSB and NFA registers don’t confirm those statements.
Source:
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