Reltex Group presents an enticing opportunity for investors, inviting them to invest in order to achieve their financial goals. The company promises a platform tailored to meet all investors’ needs. Let’s delve deeper into what this broker can genuinely offer us. By the end of our review, we’ll determine whether it is a legitimate venture or potentially a scam.
- Reltex Group General Information
- Registration and Client Portal Review
- Reltex Group Trading Conditions
- Account Types Review
- Trading Platform
- Reltex Group — Deposit and Withdrawal of Funds
- Additional Options
- Is Reltex Group a Scam?
- Legal Information and License
- Reltexg.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Reltex Group General Information
|Up to 1:400
Registration and Client Portal Review
If we were to recommend you the most basic broker website, it would undoubtedly be the Reltex Group site. Seriously, it has gathered almost all the templates. There’s a dark, unattractive theme, some inserts of gilded digital cryptocurrency, and, of course, a few widgets with real-time quotes. Meanwhile, there’s a critically low amount of information about the broker itself, and the trading conditions are almost undisclosed. Legal information is hard to find. The menu is somewhat haphazard, and the FAQ contains not exactly the most frequently asked questions. Well, it’s more of an example of how not to design a website.
To create an account on the platform, you only need to go through a quick registration. As always, just fill in the personal details and contacts in the form. Don’t worry. Reltex Group won’t verify them. The broker won’t send you an SMS code or email verification. It doesn’t care about any data, even if you provide fake information. However, once you enter the client portal, you’ll be required to submit all documents immediately because literally nothing is accessible for review without prior verification.
A user-friendly experience is crucial for any trading platform. By immediately demanding extensive documentation, Reltex Group disrupts the natural flow of a trader’s exploration. It creates a cumbersome onboarding process, potentially frustrating users who might abandon the platform due to the immediate verification hurdle. Additionally, legitimate brokers typically provide users with the opportunity to explore the platform’s interface and key functionalities before requesting sensitive information. This approach fosters transparency and allows traders to make informed decisions about whether to proceed with the verification process.
Reltex Group Trading Conditions
Well, let’s realistically assess whether it’s worth opening an account here or if it’s more advisable to consider another broker.
Account Types Review
Reltex Group lacks originality, especially concerning trading accounts. The broker offers only three options: Silver, Gold, and Platinum. Unfortunately, the minimum deposits for each are not specified, not even in the FAQ section. Incidentally, it seems that the broker doesn’t provide a demo account. At least, there are no indications of it in the client portal.
The descriptions of Reltex Group’s trading conditions are quite scant. We observe here that leverage increases as the account status grows and can reach 1:200, 1:300, or 1:400. In general, no matter which parameter you choose, it still seems too high for a licensed broker. All types of accounts offer traders advanced charts. Additionally, there are swap discounts, although they only start from the Gold account. Moreover, higher-tier accounts provide access to webinars. Essentially, this concludes the descriptions of trading accounts. Quite limited, isn’t it?
The brief descriptions of Reltex Group’s trading conditions, focusing mainly on leverage and discounts, leave traders in the dark regarding essential details like spreads, fees, and available instruments.
Reltex Group offers traders the option to download their trading platform, use the web terminal, or install the mobile application. However, the broker doesn’t provide any information about the origin or manufacturer of this platform. This raises concerns about what users are actually downloading, especially considering that it can only be done from the broker’s official website and not from authorized app stores. Exercise caution, as this could potentially involve downloading unlicensed software.
Unlicensed software may lack essential security features and updates, exposing users to potential vulnerabilities and security breaches. On the other hand, licensed platforms typically undergo rigorous testing and regular updates to address emerging threats.
Reltex Group — Deposit and Withdrawal of Funds
Reltex Group places a primary emphasis on deposits made through credit and debit cards, with no mention of any other methods on the website. As previously mentioned, there’s no indication of a minimum deposit, but there is a minimum withdrawal set at $50. The broker assures traders that there are no withdrawal fees imposed on them. However, the processing time for withdrawal requests may extend from 3 to 5-6 days.
It’s worth noting the peculiar aspect that the company exclusively accepts card payments, excluding other payment methods. This limited range of accepted methods might raise questions about the broker’s flexibility in catering to diverse trader preferences and needs.
As we have come to understand, verification is an obligatory step on the Reltex Group platform. Without completing the verification process, users will be restricted from engaging in any activities on the platform. Let’s delve into the steps of this process.
Following registration, users are required to submit supporting documents. This includes proof of identity (such as a government-issued ID or passport) and proof of residence (like a utility bill or bank statement). Use the platform’s interface to upload clear and legible copies of the requested documents. Ensure that all details are visible for proper verification.
Once documents are submitted, the platform’s verification team will review the provided information. This process may take some time, and users are advised to be patient.
Reltex Group offers educational resources, including access to webinars; however, this privilege is exclusive to Gold and Platinum account holders. It’s important to note that the quality of these webinars remains questionable due to their fully closed nature, coupled with the broker’s anonymous team.
Furthermore, the Terms and Conditions mention bonuses to trading accounts, but the specific details regarding their size remain undisclosed. Clients are only informed that these bonuses must be worked through. Additionally, it’s essential to consider that they are subject to a maximum leverage of only 1:100.
Is Reltex Group a Scam?
With such trading conditions, we harbor doubts about the broker’s legitimacy. However, let’s seek confirmation for our opinion; we can’t base our judgment on mere speculation.
Legal Information and License
Reltex Group is a remarkable broker, but not in a positive sense. The company provides no information about itself in its documents — no legal details, no registration location, no licensing information, no incorporation date, and so forth. Despite claiming to be well-known among investors, reviews about this project are exceptionally scarce, and the feedback is far from positive. It’s interesting to note that the company’s phone number is Canadian, prompting speculation about its potential registration in Canada. However, our search in the Canadian registry yielded no results, leading to the conclusion that Reltex Group is likely unregistered anywhere, explaining the absence of provided information. If a company is not registered anywhere, it lacks the necessary licenses to operate, making it an illegitimate broker, and engaging with it could be perilous.
Reltexg.com Domain Info
Another red flag indicating potential fraud is the broker’s short operational history. While brokers might boast various statistics, such as numerous satisfied clients and extensive global coverage, it’s essential to scrutinize such claims. In the case of Reltex Group, we investigated the domain registration and found that it was only registered on October 17, 2023. Clearly, such a brief operational period raises serious concerns about the broker’s credibility and reliability.
Reltex Group provides minimal contact information, consisting of a phone number and email. There is no physical office address, and traders have already reported difficulties in reaching out to the broker via email. This lack of transparent communication channels raises concerns about the broker’s accessibility and responsiveness to client inquiries.
Pros and Cons
- Access to advanced charts for all account types.
- Discounts on swap rates.
- Limited information about Reltex Group background and registration.
- Lack of clarity on minimum deposit amounts.
- Absence of a demonstration account for traders.
- Insufficient details on trading conditions.
- Uncertain legitimacy and questionable operational transparency.
Frequently Asked Questions (FAQ)
Reltex Group claims to offer trading services, but the lack of comprehensive and transparent information raises concerns about the actual services provided.
The minimum deposit remains undisclosed, and according to the trading conditions, investors are urged to refer to the broker’s terms.
No, Reltex Group cannot be considered safe as it operates without proper legitimacy and lacks essential licensing.