Beware! Rhine International Limited 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.
Rhine International Limited seems to be impersonating a regulated Australian company – but failed miserably to convince us that they are actually regulated and reliable. The broker actually seems to be targeting clients from China and Hong Kong – since their website was only available in Chinese and English. The most problematic things about Rhine International Limited were that they did not provide a lot of information about themselves or their trading conditions – we were actually not able to learn almost anything from their bad-looking website.
All in all, we would not recommend that you start trading with this broker – doing so would only result in financial losses for you.
Rhine International Limited Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|Rhine International Limited||❌||❌||❌|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Rhine International Limited claimed to be a branch of a company regulated by the Australian financial regulator ASIC. When we checked ASIC’s register for a company with the name HLK GROUP PTY LTD – the supposed name of the company behind this broker – we did get a match. However, we failed to prove that this regulated company is actually in any way related to Rhine International Limited – ASIC discloses very little about the companies regulated by it. For this reason, we have huge doubts that this broker is under any regulatory oversight. They were anonymous and shady, and did not provide any essential information about themselves or their trading conditions – things a regulated broker would never do.
We would suggest that you turn to a broker who is actually licensed in the UK – or the EU, or Australia. All of these brokers are subject to countless laws and regulations and have to meet countless requirements before obtaining a license. One of the regulators’ top priorities is to ensure transparency and fairness. Brokers also have to prove their financial stability by maintaining a capital of at least €730 000 in the UK and the EU, and A$1 million in Australia. Negative balance protection is a must if you are a retail client – this prevents you from losing more money than you have in your account. Client funds are kept in segregated bank accounts – this proves that the broker would not be able to use your investment for their own business. Finally, EU and UK brokers also participate in compensation funds – in the event of a licensed broker going bankrupt, each client could receive a compensation of up to €20 000 in the EU and £85 000 in the UK depending on the size of their investment.
Rhine International Limited Trading Software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Rhine International Limited platform||❌||❌||❌||❌|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Rhine International Limited promised access to MetaTrader 5 – one of the leading platforms in the world of trading. We were indeed provided with a download link – the problem was that the platform the broker urged us to download did not seem to be MT5. Instead, it came from an unverified publisher and we were warned that installing it might not be safe. We were obviously not eager to install such software – and were therefore unable to see what the broker had to offer.
Better check out some brokers that actually offer MT5 – you are bound to remain satisfied with what the platform can offer. MT5 offers access to an abundance of useful tools and features – preprogrammed Expert Advisors that track markets and trade in accordance with an algorithm, Strategy Testers, customizable signals (and the ability to subscribe to those set by others), a community chat where you could exchange strategies, hedging and netting options on newer updates, a built-in calendar, and all other tools you could wish for. We can talk about how great the software is all day – or you could see that for yourself with a licensed broker.
Rhine International Limited Trading instruments
|Rhine International Limited||❌||❌||❌||❌||❌|
Since Rhine International Limited did not provide access to a functional platform, we cannot be sure that they would actually provide us with access to any financial markets. Generally, they promised that we would be able to trade forex, metals, cryptocurrencies, and futures – which is actually a fairly limited range of instruments.
Better check out some legitimate brokers – many of them offer access to hundreds, and sometimes even thousands, of trading instruments.
Rhine International Limited Spreads and cost of trading
|Rhine International Limited||XM||FBS||FXTM|
Rhine International Limited did not provide access to a platform – and as a result, we were unable to check out their spreads. This is not a subject the broker provided any information on. However, we will be quick to remind you that some of the best brokers in the industry offer amazing spreads – even as low as 1 pip.
Rhine International Limited Maximum leverage
|Rhine International Limited broker||❌||❌||❌||❌||❌|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
Without a functional trading platform, leverage is not a relevant category. We would still like to remind you to always be careful with your leverage settings – trading with rates higher than you can handle could potentially result in much bigger losses.
Rhine International Limited Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank wire||2-5 business days||2-5 business days||$25+|
|Credit card||Instant||24 hours||Free|
|PayPal||1 hour||24 hours||2%|
|Skrill||1 hour||24 hours||2%|
|Neteller||1 hour||24 hours||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Rhine International Limited did not say which deposit methods it accepts. Such brokers often prefer to receive payments in crypto – because all crypto transactions are both anonymous and irreversible. If this broker asks you to deposit with a crypto coin such as Bitcoin, Tether, or Ethereum, beware – there might be a good reason why they offer no alternatives.
Rhine International Limited Minimum deposit
|Rhine International Limited||XM||FBS||FXTM|
|Minimum deposit||No information||$5||$10||$5|
Unsurprisingly, Rhine International Limited did not offer information about the minimum deposit required to open an account with them. However, we would like to point out a simple fact – some of the best brokers in the industry will allow you to start trading with as little as $10.
Rhine International Limited Withdrawal requirements
Rhine International Limited did not provide us with Terms and Conditions which is why we were unable to learn anything about their specific withdrawal requirements. However, such brokers often do have withdrawal requirements. They might ask you to reach an enormous turnover before allowing withdrawals. Other scammers simply charge huge withdrawal fees – as high as 20-30%.
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Rhine International Limited/ offshore brokers||No information||No information||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|