RGN Financial Planning LTD Review: SCAM?

RGN Financial Planning LTD - logo
Rating:
1

RGN Financial Planning LTD starts optimistically by saying, “An entire team is on your side.” While this may sound promising, it’s essential to investigate the quality of this team that claims to be on your side. After all, one might wonder if this team consists of scammers. We certainly hope not. Therefore, we will conduct our comprehensive review to shed light on this matter.

RGN Financial Planning LTD General Information

Website https://www.rgnfinancialplanningltd.com/
Phone Number +442081575015
Email support@rgnfinancialplanning.net
Address 66, Spaces Business Centre, 15-17 Ingate Pl, Nine Elms, London SW8 3NS
License
Minimum Deposit £5,000
Assets CFDs
Leverage Up to 1:100
Trading Platform WebTrader

Registration and Client Portal Review

On the official website, you are greeted by a gigantic video. Seriously, it’s an enormous video. It’s so big that it obscures the menu, making it challenging to navigate. Despite this, everyone in the video looks extremely happy, giving the impression that they’ve finally found a worthy broker. We were certainly impressed by the grandeur, but as always, we’re interested in the content.

Aside from descriptions of the trading conditions and some legal information, we couldn’t find anything of substantial value. Interestingly, the website is only available in English, which suggests that the broker may not be targeting a global audience.

RGN Financial Planning LTD - website

The registration process doesn’t hold many surprises. In essence, you just need to fill out a form. Provide your name, contact information, and create a password. The broker will then grant you access to the client portal. There aren’t extensive questionnaires or rigorous checks. This suggests that RGN Financial Planning LTD doesn’t resemble a licensed broker very closely.

Register

The Client Portal, well, let’s just say it’s as minimalist as a black-and-white movie in an era of 3D, high-definition blockbusters. Imagine trying to make a gourmet meal with only salt and a toothpick – that’s pretty much the level of resources you’ll find here. It offers the absolute basics and not much else, making you wonder if RGN Financial Planning LTD believes that less is somehow more in the world of online trading.

RGN Financial Planning LTD - Client Portal

RGN Financial Planning LTD Trading Conditions

Well, folks, it’s time to delve into the trading conditions and discover why this broker thinks it can turn traders into ecstatic money-making machines. Hold on to your seats for this one!

Account Types Review

Surprise, surprise, RGN Financial Planning LTD believes that happiness begins with a mere £5,000 deposit. Yes, you read that right – the minimum requirement to enter the “Beginner” tier. For the other tiers, you’d better be ready to part with £25,000, £75,000, £150,000, or a staggering £250,000. That’s one pricey entrance fee to the exclusive club! However, wait, there’s more. The higher your deposit, the more “goodies” you receive.

Let’s not forget about the mysterious Return on Investment (ROI) RGN Financial Planning LTD promise. Details? Well, you won’t find any of those here. And the spreads? Well, they’re a secret – or at least they don’t feel like sharing. The website vaguely mentions they can be “standard,” “low,” or “average.” It’s like going to a car dealership, and the salesperson tells you the car’s price is “reasonable.” Now, who’s up for a game of financial roulette?

Trading Platform

Let’s talk about the trading platform, shall we? Well, there’s not much to say. First of all, it’s a web-based platform. So, if you were hoping for a sleek desktop app, sorry, but this isn’t it. The design is as basic as it gets. If you’re into flashy graphics and intuitive interfaces, you’re in for a disappointment.

Indicators? They are like rare gems on the RGN Financial Planning LTD platform. If you’re used to having a variety of tools and indicators for your technical analysis, you might feel like you’ve been handed a basic toolbox for brain surgery.

Oh, and did we mention the occasional lags and hiccups? Yes, even the platform itself seems to have its moments of uncertainty. You wouldn’t want your trading decisions to hinge on a platform that decides to take an impromptu coffee break, would you?

RGN Financial Planning LTD — Deposit and Withdrawal of Funds

It offers a variety of funding methods, including Visa and Mastercard, the SEPA payment system, and even Bitcoin. On the surface, that seems pretty diverse and inclusive, right?

Now, when it comes to withdrawals, you’d expect the same methods to work, and they likely do. However, it’s a rather gloomy story when it comes to transparency. You see, RGN Financial Planning LTD doesn’t really tell you about the fees you might incur or how long it takes to process these withdrawal requests.

So, while you have options, it’s all pretty much in the dark, and we’re not here to crack jokes about your financial safety. It’s a mystery best solved by contacting their support.

Verification

RGN Financial Planning LTD follows a standard verification process to ensure the security and compliance of its clients. When a user wishes to complete the verification, they are generally required to submit various documents, including:

  • Identification document. This commonly involves providing a scanned copy of a valid passport, national ID card, or driver’s license. This document is used to confirm your identity.
  • Proof of address. To verify your address, you might need to provide a recent utility bill, bank statement, or any other official document that displays your name and residential address. It’s usually required to be not older than three months.
  • Payment method confirmation. Depending on the method you’ve used for deposits or withdrawals, the platform might ask for confirmation of the payment source. For example, if you made deposits with a credit card, you may be asked to provide a copy of the card.

In some cases, additional documents could be requested for specific purposes, such as source of funds verification or anti-money laundering compliance.

Additional Options

While it’s common for brokers to offer partnership or affiliate programs, RGN Financial Planning LTD’s official website does not provide specific information about their partnership program. The lack of details or transparency about such a program might make it difficult for potential partners to evaluate the opportunities available and how they can benefit from referring clients to the broker.

Brokers that promise unusually high ROI, such as 9% or more per month, should be approached with caution. Returns of this magnitude are often considered highly suspicious in the financial industry. The reason for concern is that it’s unclear how the broker generates such substantial profits to consistently deliver on these promises.

In many cases, brokers offering such high ROI figures might be operating a scheme that resembles a Ponzi scheme. They may rely on funds from new investors to pay returns to earlier investors, creating an unsustainable cycle.

You can check one more example of a broker using this scheme in another our article.

Is RGN Financial Planning a Scam?

The project, as of now, doesn’t exhibit characteristics that align with those of a reputable broker, even when considering their trading conditions. However, it’s important to conduct a more detailed analysis before forming a final judgment.

It claims to be a British broker, and indeed, they have a British phone number. However, after conducting a thorough registry check, we found that such a company does exist, established back in 2010. Their registered activity is classified as financial intermediation, not elsewhere classified. However, here’s the twist – all brokers and investment companies in the UK are required to have a license from the FCA, a strict local regulator that decides whether a broker complies with the rules or not. Now, the cherry on top is that, you guessed it, RGN Financial Planning LTD lacks this crucial FCA license. It leads us to suspect that they might not be a broker at all. Well, it’s a puzzle indeed!

License check

Rgnfinancialplanningltd.com Domain Info

Indeed, this riddle has a straightforward solution. RGN Financial Planning LTD claims its incorporation dates back to 2010, which is yet another reason to suspect that our review subject might simply be impersonating this company. We took a look at the domain registration details and found that it was only registered on October 27, 2023. Moreover, there are no reviews or mentions of this company to be found prior to this date. The puzzle pieces are coming together quite clearly.

Domain check

Contacts Review

As for the contact details, RGN Financial Planning LTD provides a phone number, email, and even an address. However, it’s quite evident that if the broker doesn’t exist in reality, there’s little chance of anyone meeting you at that office. We’re betting our savings on the notion that it’s all just a facade.

Pros and Cons

  • None.
  • Lack of transparency and misleading information about the company.
  • Unsubstantiated promises of guaranteed ROI, resembling Ponzi schemes.
  • Minimalistic and uninformative website and trading platform.
  • Minimal trading tools and indicators for analysis.
  • Limited information on trading conditions and high minimum deposit requirements.
  • Absence of a valid license from a financial regulator.
  • New domain registration raises doubts about the broker’s legitimacy.
  • Unclear and unverifiable contact details and office address.
  • No reviews or history of the company’s performance prior to 2023.
2.8 TOTAL SCORE

RGN Financial Planning LTD Summary

RGN Financial Planning LTD - favi

So, it's a questionable choice for trading. It appears to be impersonating another legitimate company, raising serious concerns about its authenticity. Therefore, it's strongly advised not to open an account with them, as you might quickly part ways with your funds.


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

Frequently Asked Questions (FAQ)

What Does RGN Financial Planning LTD Offer?

It claims to offer various financial services, but based on our investigation, it’s highly questionable whether they provide any legitimate services.

How Much Money Should I Invest With RGN Financial Planning LTD?

According to the trading conditions, the minimum deposit required to start trading with it is £5,000.

Is RGN Financial Planning LTD Safe?

No, it does not appear to be a safe or legitimate broker. Our assessment of the available information suggests that this is a questionable and potentially fake broker, raising significant doubts about its safety and reliability.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Norman Norman

    The platform and the company are nothing but a fraud.

    I created an account out of curiosity. I had actually heard about RGN Financial Planning LTD from an acquaintance who wanted to consult with me about whether it’s safe to trade here, or whether it’s okay to trust the company with their money. As an experienced trader who has been in the game since 2018, I immediately advised them that the company looks like an outright scam and fraud, so it’s better not to trade here. I sent them a list of legitimate companies to trust. However, I ended up creating an account myself. Registration was quick, but I didn’t even receive a confirmation email. That raised a red flag right away. How can you secure your account without attaching an email or phone? Apparently, account security was the least of their concerns. The personal account is nearly empty, with very limited functionality. There’s nothing substantial to do, no advanced options. You can access the web trader from there. So, I logged into the RGN Financial Planning LTD platform. It can’t even be called a platform; it’s complete chaos, not a platform. The terminal is abysmal, super-basic. There’s nothing to do here. The conditions are lousy, the pseudo-terminal, and there are zero guarantees, including legal ones.

    Reply
  2. Joseph Luna

    The plain, 100% guaranteed kind of scam

    They prey on people’s money by offering fake broker services that don’t actually exist. There’s no point in trading with this fake broker; your money isn’t transferred to a broker’s account. It goes directly into the hands of scammers. It’s apparent that they only accept cryptocurrency transfers and not fiat currency. So, you send your money to these con artists, and they subsequently withdraw it through crypto exchanges. Once it’s gone, there’s no way to get it back. Going to the police won’t help; they’ll just see you as a fool.

    Reply
  3. Marcelo Peixoto

    Criminals! It’s a scam!

    These guys are criminals, they stole 3430 GBP from me!
    Not a real company, just scammers luring you and stealing your money!

    Reply
  4. Sean

    SCAM

    Simply put, this isn’t a company and it is a,

    SCAM

    If you have placed money with this FAKE company your money is GONE. It is time to contact the authorities.

    I lost $10000 with these crooks and should have known the promises, the constant pressure for more money, the warnings on the web were all signs of the scam. Keep away or you will loose everything. The account is probably a demo account your watching. Keep away.

    Reply