Ranytrade Review: Reasons You Should Avoid Ranytrade.Com

Ranytrade is one of those mysterious sites set up overnight for scamming purposes. Dubious and puzzling, they take shadiness to another level. Luckily though, this one didn’t persist. 

This company website is already down and completely out of function. If you have made an investment with this phony, we’re afraid your funds might be irreversibly lost. 

Otherwise, the fact that they’re already gone seems best for everyone. While still up, the site was ridiculously shallow and suspicious. 

There was no information on the owning company, trading conditions, instruments, or contact. The layout was simple, boring, and generic-looking. It would have led you to think it had been just copied from other scammers of this type. 

Either way, this company is a good example of what a regulated broker doesn’t do. Stay with our Ranytrade review and read more about it.

Furthermore, we highly recommend that you avoid the scam brokers Nerostrade, MFTtrade, and Prism Capital.

Ranytrade Regulation and Funds Security

Ranytrade didn’t give away any information on who is behind it, let alone provide believable proof of a regulation existing. It’s easy to tell when a site belongs to a scammer when they’re this see-through. 

It’s needless to point out a key difference between Ranytrade and a licensed broker. A legal brokerage enterprise has obtained a license from a jurisdictional regulator before it could operate. 

Jurisdictional any other regulator where they offer their products or online financial services has performed a thorough check before licensing them. Not only that but their business is constantly supervised. Just getting a license is half the job, keeping it is the other part.  

Still, being optimistic enough to dig for info, we decided to check a few registers of major regulators. To no one’s surprise, Ranytrade didn’t show up anywhere. 

Without a regulatory framework to define every broker’s functioning, unregulated agencies cannot be trusted. Ranytrade, being one of them, cannot provide the safety of funds, segregated accounts, negative balance protection, leverage restriction, and compensation scheme. Do not trust this phony no matter what they might promise you!

What Trading Platforms Are Available?

Labeling the Ranytrade platform as useless is almost a compliment. The basic-looking web terminal has no function whatsoever. You’d usually have a scammer try and manipulate the trading terminal to show how your funds are growing. Sadly, the Ranytrade platform is so defective even illusory trading is not functioning. 

With a preference for cryptocurrencies, the trader shows their pricing and percentage changes. The chart supposedly showing real-time movement looks more like a picture than reliable software. Its use is entirely fictional.

To conclude this short horror story about Ranytrade’s platform, this miserable attempt at faking trading software is insulting. Regardless of the level of expertise, all traders deserve a functional, flexible, and multi-optional trading terminal.   

Ranytrade Deposit and Withdrawal 

Ranytrade obviously misunderstood the job of providing various payment methods. Except for literally dozens of cryptocurrencies, no other way of depositing exists. To spice up the choices further, Ranytrade set different minimum deposit requirements for every cryptocurrency. In that soup of choices, the smallest depositing amount required seemed to be $1. 

To make you run in circles some more, this company added hefty fees for both deposits and withdrawals. There’s a fee if you decide to buy premium. There’s also one for every transaction, and also when attempting refunds. Fees range from 1% to 3.5% to who knows how much. 

Explanation or policy doesn’t exist for withdrawals, since they’re probably out of the question for Ranytrade.

How Does the Scam Work?

Ranytrade is one of those crypto lovers that approaches you with the single goal of emptying your wallet. With a friendly attitude and promises of huge crypto turnover, they can easily get anyone interested. 

 As believable as phonies sound, remember there’s always a catch. Everything they offer comes with an unrevealed condition. That can be high fees, added commissions, or trading volume requirements. As attractive as trading conditions seem, they’re not designed to truly make you profit. Their only purpose is getting you to invest. 

After that, the scammer can simply shut down their page and run away with your funds. Much like what we witnessed Ranytrade do. 

Depositing in crypto provides them anonymity. So even if there’s an attempt to track the transaction, it doesn’t have to lead to a real person or company. 

Ranytrade Summary

As our Ranytrade review shows, this broker is a bogus firm and a scamming project. Since they didn’t even bother to give any contact info or evidence of a license, it was obvious they were not legal. Checking the registers of leading regulators has only confirmed our doubts.

However, sometimes it might not be so crystal clear when a broker is illicit. They can be very creative and use deceptive methods like cloning regulated firms and stealing license info or company background.

That’s why we strongly advise you to collect data from more than one source. Always check where they’re registered if their license is real and where the addresses and contacts lead. You never know what you might find.

FAQs About Ranytrade Broker