Beware! Reiman Group is an offshore broker! Your investment may be at risk.

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At first glance, Reiman Group’s website might trick you into thinking that this is indeed the established forex broker it portrays itself to be. But before you put your money on the line you should always do a careful fact check. In the case of Reiman Group, the check reveals that this broker is not licensed and is providing false legal details. This combination leads us to the conclusion that we are dealing with a scam.

Reiman Group Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Reiman Group
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Reiman Group claims to be based in the UK but does not name a company. Even the text of the Client Agreement and other legal documentation does not state a company name, rendering these documents legally invalid.

To operate as a broker in the UK, a company needs a licence from the Financial Conduct Authority. However, there is no broker using the trade name and domain of the Reiman Group in the regulator’s database.

The Terms and Conditions state that the applicable jurisdiction is in fact an offshore zone – the Seychelles.

The website is primarily available in Russian, which has prompted the Bank of Russia to issue a warning to investors that Reiman Group is not authorised.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

Reiman Group Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Reiman Group platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Reiman Group implements a standard-looking web trading platform. Here is how it looks like:

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Reiman Group Trading instruments

CurrencyStocksIndicesCryptoCommodities
Reiman Group
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

Reiman Group  offers trading in all major asset classes, including cryptocurrencies. This is also evidence that it is not a licensed broker based in the UK because the FCA prohibits trading in crypto derivatives.

Reiman Group Spreads and cost of trading

Reiman GroupXMFBSFXTM
Spread EURUSD1.50.611.1
Spread GBPUSD1.51.31.21.4
Spread USDJPY1.51.31.21.4

In the trading software we see a standard spread level of 1.5 pips. But as stated, we have no guarantees that the trade offered by this unregulated website is not fictitious.

Reiman Group Maximum leverage

ForexStocksCryptoGoldIndices
Reiman Group1000:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

Reiman Group offers very high leverage up to 1:1000. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. Higher levels of leverage are only offered to professional clients who trade entirely at their own risk.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Reiman Group Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Qiwi1 hour24 hoursNot specified
Stripe1 hour24 hoursNot specified
Crypto24 hours24 hoursFee depends on crypto

Reiman Group allows the deposit of funds primarily through cryptocurrencies, but also some conventional options such as QIWI.

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Reiman Group Minimum deposit

Reiman GroupXMFBSFXTM
Minimum deposit$2500$5$10$5

Reiman Group requires a very high minimum deposit of 2,500 USD. The industry standard is ten times lower. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Reiman Group Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Reiman GroupNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Reiman Group does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.

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