Revolut Trade Hub Review – 5 things you should know about rvtradehub.com

Revolut Trade Hub Review – 5 things you should know about rvtradehub.com

Rating: 1

Beware! Revolut Trade Hub is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Forex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Revolut Trade Hub is just another confirmed scam that asks you to invest your hard-earned money in it without providing any sort of proof of its reliability. This company is everything legitimate – everything, from the license issued by a reputable financial authority to the lack of legal documentation and the crazy trading conditions – speaks of that. If you would like to trade securely, you would be much better off investing with a legitimate broker.

Revolut Trade Hub REGULATION AND SAFETY OF FUNDS

Revolut Trade Hub states that it is based in Jakarta, Indonesia. The Commodities and Futures Trading Regulatory Agency (BAPPEBTI) is the financial authority responsible for supervising and licensing forex brokers in this country – however, we could not find any records of a broker with the name Revolut Trade Hub being licensed in the county. What is even more bothersome is that the financial regulatory body of the UK – the reputable and strict FCA – has recently found it necessary to warn investors that Revolut Trade Hub is not a licensed enterprise and that they would therefore not be entitled to any sort of protections.

Such a warning is an almost definite proof that we are dealing with a scam broker.

Turn to a reliable, licensed broker – preferably one with a UK, EU, or Australian license. Such brokers are never anonymous and are required to report to authorities regularly, and release certain data to make matters more transparent. They also have to maintain a certain minimum operational capital – €730 000 in the UK and the EU, and A$1 million in Australia. This serves as proof that the broker is well-capitalized and financially stable. Client account segregation is a must – so you can be sure that the broker could not use your money for their own business – and negative balance protection is provided to all retail clients. This means you could never lose more money than you have in your account. Leverage restrictions, as well as a bonus ban and a binary options ban, protect investors from scams and bigger losses they could handle. Additionally, UK and EU brokers are obligated to provide funds for compensation schemes so if a broker becomes insolvent, each of their clients could receive a compensation of up to €20 000 in the EU and £85 000 in the UK.

Revolut Trade Hub TRADING SOFTWARE

Revolut Trade Hub does not actually provide access to any sort of software you could trade on – that much became clear the moment we opened an account with the broker. What they offer you instead is to invest in one of their attractive plans – more on that in the following paragraph. For now, it is sufficient to say that you would not actually be able to trade with this broker – which makes opening an account with them completely pointless.

If you would actually want to trade on a decent trading platform, check out these brokers who offer leading trading software MetaTrader 5. This platform is intuitive and even beginners will be quick to figure it out – but it is also highly functional and offers access to all sorts of trading tools imaginable. You would be able to use Expert Advisors, develop your own trading bots and indicators, set signals or subscribe to those set by successful traders, use a multi-threaded Strategy Tester and export charts, exchange strategies in a community chat, and even use hedging and netting options on newer versions of MT5.

Revolut Trade Hub TRADING CONDITIONS

Revolut Trade Hub offers its clients the possibility to invest their money in a number of attractive investment plans and promises secured, effortless profits. If you deposit just $200 in the most basic of those plans – this is the minimum deposit amount – you could get as much as $72 daily profits.

The broker fails to explain how such enormous returns are even possible without you doing absolutely anything – they just promise to make you rich the moment you make an investment. Keep in mind that even the best investors of our time rarely get more than 40% returns annually – this broker promises around 36% in just a day. And although such promises might sound very tempting, there is certainly no truth to them – no legitimate broker would dare promise you guaranteed returns since the financial markets are way too volatile for that.

If your goal is to trade and actually be able to turn some sort of profit, your only option would be to choose a regulated broker – some of the most established players in the industry can offer great conditions even on their cheapest accounts. It is fairly realistic to find a great broker who would gladly have you as their client for as little as $10.

Revolut Trade Hub DEPOSIT AND WITHDRAWAL METHODS AND FEES

Revolut Trade Hub only accepts deposits made in Bitcoin or in Tether – two popular cryptocurrencies. This is just another proof that we are dealing with a scam broker – many scammers urge their clients to deposit in crypto since such payments are both anonymous and irreversible. This means that you would not be able to get your money back unless the recipient of the payment – which in this case is the scam broker – decides to send it back. Of course, the scammers would not do anything of the sort. That is why it is best to only deposit with reliable companies that you can trust.

Since we were not provided with any sort of legal documentation – a big enough of a red flag on its own – we cannot say anything specific about the additional fees Revolut Trade Hub might charge you.

HOW DOES THE SCAM WORK?

Read the following paragraphs carefully – such scams have become quite the industry in recent years which is why it is important to know how they work in order to protect yourself from them.

It all starts innocently enough – you see an ad on the Internet for a broker who promises you fast, secure returns and entry into a life of luxury. Maybe you have heard about people earning a month’s pay by trading – so you decide to check out the website, and set up an account. After all, there is no harm in seeing what the company has to offer – and those promises are often extremely attractive. The moment you give the scammers your phone number or email, they will constantly be trying to get in touch with you and make you invest. Keep in mind that these are professional scammers so they can be very convincing. Once you have made your first deposit – and if they don’t run off with your money immediately – the scammers will ask you for bigger and bigger deposits. And you will gladly transfer this money since you will probably be turning a profit – on a manipulated platform.

Once you try to withdraw, however, you will run into trouble – the broker will make up reasons why this cannot happen – be it additional taxes, or shady clauses in the Terms and Conditions. At some point, you will figure out something is wrong – but the broker will be long-gone by then. Don’t count on them returning any of your calls.

WHAT TO DO WHEN SCAMMED?

Keep in mind that, sadly, there is not a big chance of you getting your money back. There are, however, some things you can do – and hope for the best.

Firstly, change all the passwords and banking details you have given the scammers access to. If you have given them remote access to your computer, remove the software immediately.

If you have deposited using Visa or MasterCard, file for a chargeback – both card providers try to fight scams and allow such chargebacks within 540 days. Retrieving money if you have used a wire transfer, or an electronic payment solution is much harder – but still, contact your bank or payment method provider to see if anything can be done.

Notify authorities, and share your story online and in your acquaintance circle – this way, more people will know about such scams and try to stay away from them.

Finally, don’t trust any “recovery agents” promising to hunt down the scammers and retrieve your money for a fee – this is just another type of scam.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *