RontoXM presents itself as a broker that claims to help you maximize your profits. However, we will take a closer look to determine whether this company genuinely assists in trading or if it’s just another scam that might hinder your trading endeavors. Continue reading our review to uncover the answer.
- RontoXM General Information
- Registration and Client Portal Review
- RontoXM Trading Conditions
- Account Types Review
- Trading Platform
- RontoXM — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is RontoXM a Scam?
- Legal Information and License
- Rontoxm.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
RontoXM General Information
| Website | https://rontoxm.com/ |
| Phone Number | +44 8704788030 |
| — | |
| Address | — |
| License | — |
| Minimum Deposit | $5,000 |
| Assets | CFDs |
| Leverage | Up to 1:400 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
The official website of this broker appears rather peculiar. It is available only in English and Spanish, with some of the content poorly translated. Furthermore, it’s quite puzzling how images of sunsets relate to trading. Is it a wild west theme? If so, what does Spanish have to do with it? In essence, we couldn’t decipher this concept. What we did realize, however, is that RontoXM provides disappointingly limited essential information, such as company history or vital legal details. Undoubtedly, this is another drawback.
The registration process on this website is relatively straightforward. To get started, you need to click on the “Sign Up” button. Once you’ve clicked on that, you’ll be directed to a registration form where you need to provide your personal information. This includes details like your full name, email address, and phone number. Once you’ve completed the registration form and agreed to the terms and conditions, you’ll not receive a confirmation email to the address you provided.
RontoXM allows access to the Client Portal without the need for any confirmation codes or two-factor authentication (2FA). Once inside, the client portal offers a fairly standard and routine experience. Upon logging in, traders land on a dashboard where they can view their account balance, recent transactions, other basic account information, and trading terminal.
Clients can manage their personal information, set preferences, and review transaction history within the account settings section. Deposit and withdrawal options often include bank transfers, credit cards, and e-wallets, allowing traders to fund their accounts or withdraw funds as needed. Additionally, traders can access trading tools and charts, monitor market prices, and place orders through the platform.
RontoXM Trading Conditions
We are eager to explore the trading conditions that RontoXM offers to its traders. As they claim to enhance the trading experience, it piques our interest to see if they truly deliver on this promise. Let’s delve into the details and assess whether they live up to their commitment.
Account Types Review
The broker provides account descriptions primarily in Spanish, and even if you switch to the English language, it remains unchanged. While it may not be the most convenient, we must work with what’s available. Notably, there are no demo accounts on the platform. Traders are required to open a real account right away, and the minimum deposit is quite substantial at $5,000. However, this initial investment does not yield any extraordinary benefits; it merely grants access to the trading terminal and trading indicators.
Additionally, RontoXM offers a high leverage of up to 1:400, which is notably high for a licensed broker. This broker seems to favor large figures in general. For instance, the next account level, Gold, requires a deposit of $21,000, and it offers little to no discernible differences from the previous account type. In summary, it appears that RontoXM’s primary aim is not to enhance your trading experience but rather to extract as much capital as possible by providing standard trading conditions.
Trading Platform
The trading platform provided by RontoXM is rather lackluster when examined from a negative perspective. It sports a simplistic design, which, in this case, is far from sleek and user-friendly. The platform offers a limited selection of trading instruments, leaving traders with a sparse range of options to choose from. This can be particularly limiting for those looking to diversify their portfolio or explore various trading opportunities.
Furthermore, one significant drawback is the absence of both a mobile and desktop application. In today’s fast-paced world of trading, having the flexibility to monitor and execute trades on the go is crucial.
RontoXM — Deposit and Withdrawal of Funds
RontoXM offers a wide range of deposit methods, making it convenient for traders to fund their accounts. The available deposit options include Visa, MasterCard, bank transfers, cryptocurrencies, and various payment systems. This diverse selection of payment methods caters to the preferences and needs of different traders.
Verification
Before making a deposit with RontoXM, traders are required to undergo a verification process. This verification process is a standard procedure designed to ensure the security and integrity of the trading environment. It involves submitting certain identification documents, like an ID-card and proof of address, and personal information for verification purposes. Once the verification process is completed, traders can proceed to fund their accounts and access the trading platform.
Additional Options
When it comes to additional services, RontoXM provides the typical set of offerings, which includes market analysis and educational resources. As is customary in the industry, traders who opt for higher-tier account statuses tend to receive more extensive and potentially valuable resources in terms of educational materials and in-depth market analysis.
However, it’s worth delving into a particular concern with RontoXM – the anonymity of its entire team of analysts. This lack of transparency is a notable issue, as traders typically rely on the expertise and track record of analysts when making important trading decisions. Without any public profiles, verifiable track records, or a clear history of successful market forecasts, traders are left in the dark regarding the qualifications and accuracy of the analysts providing insights.
Is RontoXM a Scam?
Now, let’s delve into the most crucial aspect of our review – examining the legality of RontoXM’s operations.
Legal Information and License
We made considerable efforts to determine the company’s registration location, but it remained elusive. The website provides no hint, and the contact details do not offer any insight into the location of their office. Astonishingly, there is no agreement to be found, just an empty page. This practice is far from normal. It appears that RontoXM operates as a typical website without any legal documents, licenses, or regulation.
Rontoxm.com Domain Info
The lack of enthusiasm is further reinforced when we look at the domain verification of the official website. It has become evident to us that RontoXM is a newcomer to the scene. The official website was launched on July 4, 2023. This is an alarmingly short period for a reputable broker to have been in operation.
Contacts Review
The contact details provided by RontoXM are indeed perplexing. They offer multiple phone numbers for contacting their support team, but it’s impossible to discern which country they are actually operating from. Furthermore, there is no address listed, and notably, there is no email contact provided either. In summary, the contact information provided by RontoXM leaves much to be desired.
More Details
RontoXM claims to provide access to international financial markets, but this assertion appears to be baseless. Operating without proper registration and licensing, this broker seems to function more like an ordinary boiler room operation. Consequently, there is a clear conflict of interest that traders should be wary of when dealing with RontoXM. This lack of regulatory oversight and transparency is concerning and may put traders at risk.
Pros and Cons
- Multiple deposit methods.
- Lack of regulation.
- Limited transparency.
- Incomplete website.
- High minimum deposit.
- Dubious contact information.
RontoXM does not appear to be a suitable choice for a long-term partnership in the world of online trading. With its lack of regulation, limited transparency, incomplete website, high minimum deposit requirements, and dubious contact information, this pseudo-broker raises numerous red flags.
Frequently Asked Questions (FAQ)
It claims to offer access to international financial markets and trading opportunities.
According to the trading conditions, RontoXM requires a minimum deposit of $5,000, which is quite substantial.
No, RontoXM does not appear to be a safe option for trading. The lack of regulation, incomplete website, and questionable business practices raise significant concerns about the safety and legitimacy of this broker.
"Your funds are safe"
Oh, who are you trying to fool with such statements? How can our funds be safe when you don’t even possess a broker’s license? “Convenient deposit and withdrawal” – indeed, it’s convenient for us to easily transfer money to the fraudsters at RontoXM, with no guarantees of getting it back. Be absolutely certain that you’ll be scammed into this shady place.
Everything written by these fraudulent brokers on their website is nothing but lies and deceit, a simple bait to lure in unsuspecting victims who will fall for their tales and give away all their money. They feed you imaginary promises, fake benefits, and other nonsense just to get you to invest. There are no favorable conditions or a real market here because RontoXM is a fake broker operating on a B-Book business model, or in plain terms, a forex boiler room. Dealing with them is dangerous, especially when this particular one is based nowhere. Naturally, you won’t find any licenses here; this fraudulent broker doesn’t have any.
I registered with this broker out of curiosity
To be honest, I didn’t find anything particularly interesting. The user interface is quite basic with no unique features to speak of. It offers the standard KYC (Know Your Customer) process, deposit/withdrawal options, and personal data editing. However, there’s a lack of essential information on how to change account types, whether there’s a demo account available, or how to activate features like swap-free accounts.
I had hoped that the trading platform would redeem the broker’s reputation, but unfortunately, it was another letdown. The platform is overly simplistic and lacks many essential features. You can perform basic tasks such as technical analysis and apply common indicators, but anything beyond the basics, like uploading custom indicators or setting advanced configurations, is not supported – something most modern and reputable trading platforms offer.
Automated trading, copy trading, and other advanced features are conspicuously absent as well. In summary, RontoXM doesn’t seem suitable for serious trading. Furthermore, the lack of transparency regarding trading conditions is concerning. There’s a noticeable absence of information about account types, spreads, commission fees, and other critical details. It appears that the broker is not keen on disclosing these important aspects of its services.
Overall, RontoXM comes across as a weak broker, and I cannot recommend it to anyone seeking a reliable and transparent trading partner.