RiveGarde proudly dubs itself as the “ultimate trading platform.” However, what lies beneath this grandiose title? In this concise review, we’ll delve into the world of this broker and tackle a question that is of utmost concern to us: Is it a scam or the real deal? Join us on this exploration as we uncover the truth about this platform.
- RiveGarde General Information
- Registration and Client Portal Review
- RiveGarde Trading Conditions
- Account Types Review
- Trading Platform
- RiveGarde — Deposit and Withdrawal of Funds
- Additional Options
- Is RiveGarde a Scam?
- Legal Information and License
- Rivegarde.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
RiveGarde General Information
|Address||Rue de la Cité 1, 1204 Genève, Switzerland|
|Leverage||Up to 1:50|
Registration and Client Portal Review
RiveGarde didn’t seem to invest much thought into the visual appeal of its website. The only aspects we’d give them credit for are the attractive and unexploited marine wave-themed color scheme and the peculiar choice of languages. Apart from English, the site offers French and Chinese languages. However, when it comes to unique details, these are pretty much the extent of it. Beyond this, we didn’t discover anything noteworthy on the site. It’s quite templated. The only potentially interesting sections are the account descriptions and a limited amount of legal information. We had to spend quite a while scrutinizing the site just to gain a basic understanding of the company behind it. So, we were left somewhat underwhelmed.
At first glance, registration on the RiveGarde platform seems straightforward. The broker provides a brief form where you enter your personal details and contact information. However, it’s not that simple. In reality, you’ll encounter the requirement for a promotional code to sign up on this platform. Where to find it? That’s the million-dollar question. Well, it seems that even after scrutinizing their website, we’ve yet to stumble upon the hidden treasure map leading to the coveted code. So, if you’re planning on registering here, you might want to start searching for the code at the end of a rainbow or inside a fortune cookie.
RiveGarde Trading Conditions
Well, we didn’t manage to gain access to the client portal, but let’s take a look at their trading conditions at the very least. Fortunately, they are openly accessible, which is a small consolation considering our initial attempts.
Account Types Review
RiveGarde offers a total of 6 account types, and you won’t find anything particularly unique among them. They come with standard names like Starter, Bronze, Silver, Gold, Platinum, and Black. The minimum deposit required is also fairly standard at just $250. Beyond that, traders can choose to deposit as much as $10,000, which provides access to three financial markets and a range of leverage. However, the leverage isn’t particularly high, ranging from 1:10 to 1:50 depending on the account.
As you climb the account hierarchy, the number of additional services available grows. Unfortunately, the broker doesn’t provide any information about commissions or even spread sizes. There is no specification for currency pairs or other instruments. It’s essential to note that the primary instruments here are Contracts for Difference (CFDs).
Moreover, it’s worth mentioning that, in general, there’s a conflict of interest between traders and the broker on this platform, as it operates using a dealing desk model.
RiveGarde’s alleged offering of MT5 (MetaTrader 5) is another puzzling aspect. However, there’s no evidence to support the claim that they are a registered broker with this widely recognized trading platform. This leaves us with two plausible scenarios: either they are using a different trading platform or, more alarmingly, they might be employing unlicensed or unauthorized software for their trading services.
The usage of unlicensed trading software poses a significant risk to traders, as it can be unstable, insecure, and may lack essential features and functionalities. Without a reliable and verified trading platform, clients might face serious challenges when executing their trading strategies or managing their investments.
RiveGarde — Deposit and Withdrawal of Funds
Deposits and withdrawals at RiveGarde are facilitated through debit cards and bank transfers. Although there might be additional methods available, they remain undisclosed on the website. One notable drawback is the lack of specific information regarding withdrawal fees. While the website mentions that RiveGarde charges a withdrawal fee, the exact amount is conspicuously absent from their disclosures. Potential clients are left in the dark, making it difficult to evaluate the potential financial implications of their transactions.
Despite the seemingly straightforward registration process on the website, RiveGarde ultimately necessitates a mandatory verification procedure. This requirement is laid out in their Know Your Customer (KYC) policy. The KYC process entails several steps to verify the identity of the user. Users will need to provide standard personal information, including their full name, address, date of birth, and contact details.
Furthermore, RiveGarde may request supporting documentation to confirm the user’s identity. Common documents requested during KYC verification include a government-issued identification document (such as a passport or driver’s license), proof of address (like a utility bill or bank statement), and, in some cases, proof of financial means.
The broker offers a variety of additional services, including private market analysis and weekly expert meetings. However, the challenge here lies in the obscurity of these so-called “experts,” who remain unknown and unverifiable. It is essential for users to exercise caution and skepticism when considering the credibility and qualifications of these experts.
Another noteworthy aspect is the closed registration process, which is accessible only through the use of specific promotional codes. This method typically indicates the presence of an affiliate or partner program. However, there is a noticeable absence of any detailed information regarding these programs on the website. The lack of transparency regarding the partner program can be concerning for potential users seeking to understand how it operates and the benefits it may offer.
In essence, while the broker promotes these additional services and features, the limited information and transparency surrounding them raise questions about their legitimacy and true value to users.
Is RiveGarde a Scam?
We have discussed numerous aspects of this broker, but now it’s time to delve into the critical issues of its legality and security. Let’s explore the regulatory status, security measures, and overall reliability of this platform.
Legal Information and License
RiveGarde presents itself as a legitimate broker, emphasizing its regulatory status in the FAQ section. However, it conveniently omits specifying the regulating authority. The contact information suggests the company is registered in Switzerland. We conducted a thorough check in the Swiss business registry but found no confirmation of RiveGarde’s registration. The same applies to Swiss regulator Finma, which hasn’t issued any licenses to this broker. These discrepancies raise significant questions about RiveGarde’s legitimacy.
Rivegarde.com Domain Info
Intriguingly, the broker’s track record is even more concerning. A domain verification shows that RiveGarde’s website was registered on July 20, 2023, meaning it has been operational for merely three months. Such a short period of existence in the highly competitive world of online trading raises substantial doubts about the broker’s trustworthiness and its ability to deliver on its promises.
For contacting RiveGarde, the broker provides numerous phone numbers and an email address. They’ve also listed an address on their website. However, considering the dubious nature of this broker, it’s doubtful whether the provided address corresponds to an actual office where professional representatives await your inquiries.
RiveGarde offers the download of a suspicious software known as AnyDesk for your PC. However, it’s crucial to exercise caution when it comes to such software. AnyDesk is a legitimate and widely used remote desktop software that allows remote access to a computer. But in the context of online trading, its usage can pose significant risks. If a broker requests you to install AnyDesk or a similar remote desktop tool, it could potentially provide them with unauthorized access to your computer, including sensitive personal and financial information. Therefore, it’s strongly advisable not to install such software, especially when dealing with unverified or unregulated entities like RiveGarde.
Pros and Cons
- Transparency issues.
- Registration challenges.
- Dubious trading platform.
- Unclear commission and spreads.
- Dealing desk model.
- Suspicious software.
Frequently Asked Questions (FAQ)
RiveGarde claims to offer a range of trading services, but due to its questionable legitimacy and lack of regulation, the offerings should be approached with extreme caution.
RiveGarde sets a minimum deposit of $250, according to its trading terms.
RiveGarde is far from safe. The lack of proper registration, regulation, and transparency makes it an unreliable choice for traders.