Beware! Revenur is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Warning! Revenur is a very insecure Forex broker, their trading conditions are excessively risky for the trader! The leverage levels can be as high as 1:1000 for FX trading and 1:100 for Cryptos, insane ratios which will surely drain out your account, if applied. But probably it’s even more important that Revenur refuse to supply the customers with the information about their legal status, authorization and regulation, if there is any. In fact, some controversial information is to be found about this entity, but generally, it’s an anonymous and obscure enterprise. Find out everything you need to know about this Forex broker in the full Revenur review.
Revenur REGULATION AND SAFETY OF FUNDS
Revenur is a shady Forex broker which is actually nowhere to be found. They list UK and Australian addresses and contact numbers, trying to mislead the customers, but our search produced no results, there aren’t any licenses linked with this broker, there isn’t even an existing company standing behind this broker. A third party source revealed that it is a Mauritius registered entity, but no proof were to be found. No other legal information is available whatsoever, making us fairly conclude that Revenur is a mysterious Forex broker offering insanely risky trading conditions.
Your funds are not safe if you make a deposit with Revenur, it’s an anonymous, unlicensed, unauthorized and unregulated Forex broker, which is not legit and should be avoided!
If you are looking for a reliable, true Forex broker choose a CySEC(EU) or FCA(UK) regulated company, which are not surprisingly the leaders in the retail Forex industry. The customer protection policy is placed on top of their priority list, not because they want to, but because they have to. In these jurisdictions the Forex brokers have to comply with many strict rules and regulations, such as minimum capital requirements of 730 000 EUR, personnel qualification standards, segregation of the clients accounts etc. But most importantly, there are money protection schemes in operation, such as ICF in Cyprus and FSCS in UK, which guarantee the deposits of the traders. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
Revenur TRADING SOFTWARE
Revenur doesn’t offer Metatrader4 or Metatrader5 accounts, instead they introduce their own-web based “Turbo” trading platform which is supposed to be cryptocurrency focused. They claim that you can gain up to 90% in 30 seconds. It clearly shows that Revenur has nothing to do with a true Forex broker, it looks like a casino, a big big red flag to note!
You definitely won’t forget these 30 seconds, they even make sure to remind you! In case you do not win these 90% you are most probably going to lose all your money deposited, stay away from this gambling den!
In reality, their so-called “Platform” is broken, which effectively means that Revenur cannot offer any trading software to its clients, a very huge red flag and a warning to the traders!
No spreads are known, but the leverage levels are 1:100 for Crypto trading and 1:1000 for FX trading. Ratios as such are extremely dangerous for the traders funds, if you place a BTC/USD trade on 1:100 your stop out level will come very close to the opening price and a short-term 50 pips spike in the opposite direction will drain your account. Cryptos are extremely volatile, and induced a product intervention launched by the European Security Markets Regulator(ESMA), setting a leverage cap of 1:2 for cryptos and 1:30 for FX trading.
Revenur says to offer Covesting to its clients, but you shouldn’t get involved! Keep your money safe and stay away from Revenur, it shows scam signs!
Revenur DEPOSIT/WITHDRAW METHODS AND FEES
Warning! You can make a deposit even before registration, red flag to note again!
No minimum deposit amount required, the funding methods available are Credit/Debit cards or wire transfers. Also, no minimum withdrawal amount required and no fees specified. The request processing time is said to be within 2 to 5 days, plus extra 5 days or more to reflect on your account balance.
In fact, the Deposit/Withdrawal policy is very very similar to the one applied by many other offshore Forex brokers such as Investo Brokers, Finlay.io, CFBroker, Glad2Trade, Bid Broker Stocks, Promarkets and Razer Markets. It is a very significant scam sign, which is more than enough to make you stay away from Revenur!
Most importantly, we have to show you the identical Non-Deposited Funds clause, revealing that Revenur allows indebted account, which might cause losses far greater than the initial deposit, especially if you trade Cryptocurrencies!
There aren’t any bonuses offered at the time, but Revenur hints that trading incentives generally might be available. In case a bonus is received a minimum trading volume of 30 times the deposit amount plus the bonus issued is going to apply.
An account becomes dormant after 6 months of inactivity and will be subject to a deduction of 10% monthly, called a Dormant Fee.
No partnership programs such as Affiliate or Introducing Broker are available at the moment.
HOW DOES THE SCAM WORK
A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.
Fraudsters are working in the social media nowadays, an increasing number of scammers is approaching people in Facebook, Instagram, Telegram, you name it. They will create pages showing lush lifestyle, cars, yachts, celebrities etc. and will insist that you will make even more money if you click on the like button. Often the scammers will give a free advice or a tryout and before you know it they will be asking for your money upon subscription. You will see pictures showing profits of tens of thousands of dollars and if you have no FX experience you might easily believe them.
WHAT TO DO WHEN SCAMMED
No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience, it is important to protect others, as well. Be responsible!