RannForex Review: “The Most Open Broker in Forex History” or a SCAM?

RannForex - logo

RannForex positions itself as the most open broker in Forex history. Its model involves honest relationships and mutual trust with clients. How feasible this can be judged by the reviews, in which there is both criticism and recognition. We will analyze the project registered in St. Vincent and the Grenadines to see if there is any scam.

RannForex General Information

Website https://rannforex.com/
Phone Number None
Email info@rannforex.com
Address First Flour, First Saint Vincent Bank Ltd. Building, James Street, Kingstown, St. Vincent and the Grenadines
License None
Minimum Deposit Unknown
Assets Forex (currency pairs), CFDs
Leverage From 1:1 to 1:500
Trading Platform MetaTrader 4, MetaTrader 5

Registration and Client Portal Review

RannForex confuses with a strange site that looks frankly old-fashioned. Some interface elements, design, and animations are reminiscent of web standards from the early this century.

RannForex - official site

Unlike many anonymous brokers, RannForex is inextricably linked with its founder named Dmitry Rannev. We are told that this person has been widely known among traders since 2003. It also explains why the site has a Russian version and some elements are still not translated into English (So sometimes we had to use Google Translate.).


Be that as it may, let’s try ourselves as a client and open an account on the RannForex site. The corresponding button will take us to the account comparison, and then to the login form. Only after the third step will we finally see the registration form. In it, you should specify an email and come up with a password, as well as create a username.

RannForex - client portal

Next, you will receive an email with an activation link that is valid for 48 hours. After that, you need to log in and finally get into your client portal. Here you will not be able to carry out any actions until you enter personal and contact information.

Finally, we see that RannForex provides a rather convenient client portal. You can open a live and demo account at the same time. When choosing, you need to specify the account name, currency, and leverage. The number of live accounts cannot exceed 10.

Also, you can:

  • Jump to the demo directly in the web version of MetaTrader
  • Change trading settings (order execution, stop loss activation, etc.)
  • Deposit and withdraw funds
  • Join the affiliate program
  • Download all software versions
  • Change personal settings
  • View the help section
  • Create a support ticket.

The broker obviously did a good job of making traders comfortable.

RannForex Trading Conditions

RannForex was founded by Dmitry Rannev, who knows firsthand about trading. He is also the CEO of AMTS Solutions, a brokerage software development firm. This promises to be something interesting.

The founder repeatedly emphasizes that he strives for the most open and transparent work of the company. As part of this goal, for example, the entire transaction history is recorded in the blockchain network. It runs on Ethereum and allows any user to search for their order or browse the database in full. Thus, RannForex cannot cancel client transactions in any way, since any interference will be displayed on the blockchain in front of everyone.

Account Types Review

RannForex has no minimum deposit, which makes the platform accessible to a wide range of clients. However, traders need to explore the line of accounts, which differ primarily in the type of software.

Name Minimum Deposit Leverage Instruments
MT4.Pro Not set To 1:500 Forex, CFDs
MT5.Pro Not set To 1:500 Forex, CFDs
MT5.Crypto.Fut 5 USDT To 1:20 Crypto
PAMM Not set To 1:500 Forex, CFDs, Crypto

In short, in terms of volume, margin, commission, swap and stop out, the first two accounts are identical. Their difference is in the technical features of MetaTrader versions. Logically, a crypto account has more unique characteristics.

Finally, RannForex, together with AMTS Solutions, offers a PAMM accounts platform (https://amtsinvest.com/en/). We won’t dwell on PAMM in detail; its concept is far from the classic brokerage.

In addition to the comparative table of accounts, the broker indicates:

  • Detailed contract specifications
  • Margin requirements
  • Swaps
  • Spreads
  • Archive of ticks and quotes.

As in the case with the functionality of the client portal, such openness of RannForex so far only inspires confidence.

Trading Platform

RannForex does not reinvent the wheel and uses the popular MetaTrader 4 and 5. They have earned the trust of customers due to their functionality, reliability, and simplicity. The program can be downloaded after registering on a desktop or smartphone. The terminal also works in the browser without an additional installation.


You can open a demo account in your client portal and practice trading. For more convenience, RannForex also provides a Market Depth from AMTS Solutions. The client can download it as a PC application in order to use MetaTrader more widely.

RannForex — Deposit and Withdrawal of Funds

You can deposit money into your account by:

  • Payment systems (like Perfect Money and others)
  • Cryptocurrency (BTC, USDT).

The withdrawal is the same. In all cases, except for transferring USDT through Binance, you need to pay fees from 0.5 to 2.5%. As you can see, RannForex does not accept bank cards. Instead, there are easy-to-follow guides on how to use crypto, especially on Binance.


Oddly enough, with such thorough working methods, RannForex treats the AML and KYC policies in a slipshod manner. It is clear from the relevant document that only personal and contact details are required to open an account. Moreover, without any verification of this data! It turns out that the only verification method is the activation link to your email. After that, you can safely trade.

However, RannForex still informs about its right (not the requirement) to ask for additional documents:

  • Identity card
  • Address confirmation.

The company may also request notarized documents. If they are not in English, you will have to resort to the help of an official translator.

Analytics and Partnership

In addition to the above analytical features, RannForex offers an economic calendar and a trading calculator. Also, you can study interesting statistics of trading accounts and PAMM accounts. So, for 5 years of work, the number of open accounts with the broker slightly exceeded 2.5 thousand.

The company provides details on accounts, profit and loss, trading turnover, equity, etc. This information can be very useful for experienced traders who will be considering RannForex for cooperation.

Finally, the broker offers a simple affiliate program. Under its terms, you will receive a reward of 10% of the trading commission, regardless of other circumstances. To participate in the program, it is enough to create an invitation link in your client portal.

Is RannForex a Scam?

The company definitely does not look like a one-day scam, but some of its features are confusing. Let’s see what’s going on with customer protection. We will rely on facts taken from official sources.

RannForex is built on the principle of transparency, but the project lacks a license to permit activities. In the description of the benefits, we did not find information about any regulator. The client agreement and the website footer say that the project is managed by Rann FS LLC from the offshore Grenadines.

RannForex - registry checking

Such a legal entity actually exists. It was created in 2019 and is currently awaiting cancellation. Most likely at the owner’s discretion. By the way, Saint Vincent and the Grenadines does not license or regulate forex brokers anyway.

At the same time, the news on the website indicates that Rann FS Limited was established in 2013. It was in Seychelles, but now the company registry (https://www.registry.gov.sc/) does not know about such an entity. However, unofficial sources say that it was created on 2018-08-02 and still exists.

Curiouser and curiouser! Finally, RannForex reports that the site is operated by RD Global Solutions LP. This is a UK-based partnership which is easy to register. The founders can be individuals and legal entities from anywhere in the world. No taxes are paid, and no financial statements are filed.

RannForex - British company

And yes, the partnership was created on 10 April 2017 by Dmitry Rannev and Rann FS Limited. It is not clear what organization this is if it was created in Seychelles in 2018. It’s funny that the legal address was changed on March 22, 2021, but Edinburgh is still on the site. Strange forgetfulness with such attention to detail.

As a bottom line, we have to say that the issue of RannForex legal regulation is completely confusing. Offshore, few companies, no licensing. Not very good for the most open broker in history.

Rannforex.com Domain Info

The domain check didn’t reveal any shocking facts. https://rannforex.com/ was registered in 2013, and real work began in 2017, which coincides with the words of Rannev. Curiously, there are mirrors with unpresentable URLs on the same IP. Such as rannforex2.com, rannforex3.com. The visual side of the project maintenance is obviously suffering.

RannForex - traffic geography

No wonder RannForex is popular in Ukraine and Russia. What is truly strange is the huge proportion of visitors from Iraq, which has also increased significantly in recent times. The broker does not even provide Islamic accounts (swap-free), which are usually used by Shariah adherents. So this is another mystery.

Contacts Review

You can use e-mail or online chat to contact RannForex. By the way, they answer instantly in the chat. Despite this, they do not have a phone, and on social networks there are one to two hundred subscribers each. Finally, there are no offices, just legal addresses.

More Details

RannForex is the author’s project of Dmitry Rannev, who worked at the Central Bank of Russia. He also worked for many years at Alpari, a notorious broker that gradually lost almost all of its licenses. By the way, it was Alpari who came up with PAMM accounts, which have gained worldwide popularity (No less sad one.).

RannForex - agreement

It is expected that the client agreement contains unfavorable terms for the client. For example, RannForex is not responsible for losses, may charge additional fees, or terminate account access at any time. Recall that no one regulates the broker, so it’s free in its actions.

Pros and Cons

  • Functional personal account.
  • Detailed trading conditions.
  • Free access to MetaTrader.
  • 5 years of work.
  • Outdated site.
  • Lack of bank cards and transfers in payment methods.
  • Careless verification.
  • No license.
  • Little global popularity.
  • Lack of contacts.
  • Connections with Alpari.
  • No liability.

RannForex Summary

RannForex - favi

RannForex cannot be called a scam. However, we think that only a truly experienced trader can test the declared openness and honesty of the work. Other users are better off turning to dozens of world-famous and licensed brokers.

Website information content 6
Client Portal 7
Trading conditions 6
Trading platform 7
Deposit and withdrawal 4
Verification 2
Extra options 2
Licenses and guarantees 1
Work duration 4
Feedback 3

Frequently Asked Questions (FAQ)

What Does RannForex Offer?

The broker offers transparent trading in CFDs and currency pairs. There are also PAMM accounts here.

How Much Money Should I Invest With It?

There is no initial deposit, except when you are trading on a crypto account. Apparently, it is possible to start trading with $1 here.

Is RannForex Safe?

The company tries to show its transparency in every way. However, for 5 years it has not received a single license, and a real mess is going on in legal entities. It’s hard to trust this broker.

robert brewer
Robert Brewer
Chief Expert

Robert is an experienced financial analyst based in California. He covers the most difficult topics on our site.

Robert is an experienced financial analyst based in California. He covers the most difficult topics on our site.

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Client Reviews

  1. Hary

    Look for the right brokers!

    RannForex has a trick that justifies all their fraudulent schemes. Their contract to which they refer fully justifies them in case of problems with the trader. Managers cancel profitable trades at their discretion if they exceed the threshold they have invented. So the broker will never be guilty, forget it!

  2. Amin

    Sheer deception

    They call themselves a brokerage company, although they are playing against a trader. I opened a deal, and it hung for 5 minutes, then two open deals appeared at once. Can you imagine how much volume and what loss you would receive? These are scammers, however, the evidence is circumstantial. One can always refer to technical problems.

  3. Jaba

    As far as I know it's a scam

    Does it still exist? The last thing I remember about it is how crowds of RannForex clients tried to get their money back after the broker blocked everyone’s accounts. People had different sums. I remember one shouted that he had $6,000 hanging in his deposit. Whether this is true or not, I don’t know, but the fact that RannForex does not pay money to clients is 100%! Read online reviews and you’ll be fine.

  4. Euan

    I'll be looking for someone else

    I do not recommend this broker. The site and the client cabinet are quite convenient, but they can close and reopen positions arbitrarily at a suitable time for them. The client is not notified about this. They also can stop trading on an instrument for months without notifying the client. All of this can be called arbitrariness.

  5. Ashley

    I would not recommend this broker to anyone

    I have lost my deposit with RannForex twice. I admit that this could be my mistake, but the fact is that they have a lot of requotes and slippage. But the main problem that I faced was the cancellation of my profit! They just told me that I used a scam strategy! I later discovered that they were never licensed. Well, how can they be trusted?!

  6. Louis


    I would not say that I am categorically dissatisfied, but of the declared successful transactions on Forex, 65-70% (no more) are true. A statement of fact, nothing more. The broker is of the old school, so if there is any problem, they immediately try to somehow solve it, and do not block the account “until the circumstances are clarified.” In other words… shabby, but balanced in conditions.

  7. Alexei

    Very bad experience with Rannforex

    Hello everyone, this was translated with Google Translate, sorry for my english. They’re liars, they won’t let me leave because they’re taking a turn. They tell me that I have to wait months to leave. Everything shows this is a SCAM! Is false that they have a base In The United Kingdom, they have a base n Saint Vincent And The Grenadines, LIE

  8. Jac

    Bad support

    I would like to share my experience with Rannforex. Managers are bad assistants, cos they opened a deal that literally ate my deposit. I thought they were specialists, but you can’t count on their help! Because it turns out to be a big loss.