Real Forex Review

WHO IS REAL FOREX?      

According to research in South Africa, Real Forex – is a UK-based ECN broker which was established in 2008 and is based in London, United Kingdom.

Real Forex offers trader with the option to trade Forex through an online trading platform with NDD capabilities with trade execution taking place through the MetaTrader 4 trading platform.

Real Forex may be UK-based, but it is not regulated or authorized by any regulatory entity, such as FCA, which covers most UK and EU-based brokers.

Although the Real Forex website is accessible, there is truly little to no information available on its operations and trading conditions, amidst several other crucial factors that need to be evaluated before traders decide to use this broker to facilitate trades.

Traders are generally cautioned against the use of unregulated brokers as there is no guarantee towards client fund security and insurance should the broker be declared bankrupt or should it become insolvent.

SAFE OR SCAM

When choosing a broker, it is imperative that traders ensure that brokers are regulated and authorized only through reputable, well-known regulatory entities.

Real Forex does not have any regulation or authorization through any known and reputable regulatory entities and the broker website does not provide any information imperative to conclude whether this broker is legit or scam.

Traders are cautioned against brokers who are not able to adequately provide means to secure client funds such as segregated accounts and memberships to compensation and insurance funds that ensure that traders get their capital back in case of company closure.

PRO AND CONS

LEVERAGE

Leverage is an extremely useful tool which can be used to increase the chance of gains and profit by allowing traders to open positions much larger than their initial deposits.

Simultaneously, leverage also exposes traders to substantial losses that may exceed their initial deposit if risk management tools such as stop loss and take profit, trailing stop, and others are not applied, in addition negative balance protection also offers extra safety.

Real Forex is unregulated, and in most cases, such brokers offer ample leverage of up to 1:1000, and more, but with Real Forex, traders only have access to leverage of 1:100.

ACCOUNTS   

Real Forex only offers one standard trading account that is not subjected to a minimum deposit according to previous reviews, as this information cannot be derived from the broker’s website.

When opening a standard trading account with Real Forex, traders can expect average variable spreads of around 2.1 pips when trading EUR/USD, which is considerably higher when compared to other brokers with similar trading conditions.

There is no information regarding commission charges on trades executed and there is also no mention of the availability of an Islamic or Swap Free Account.

These accounts are often add-ons to existing accounts and cater specifically for Muslim traders who abide by the Sharia Law which prohibits believers from paying any interest on transactions as it is seen as exploitive and wasteful.

Due to the lack of information on the website, it cannot be ascertained whether there is a demo account available that may provide more information on Real Forex’s offer and trading conditions.

MARKET INSTRUMENTS

Real Forex only facilitates the trade of Forex and due to the lack of information on the broker website, the currency pairs that are available for trade cannot be determined or viewed.

The general acceptance is that Real Forex will support Forex Major Pairs such as USD/EUR, USD/GBP, USD/JPY, and others.

FEES

There can be differentiated between two types of fees that traders can encounter when opening an account with Real Forex, these are trading and non-trading fees.

Trading fees related to the costs when trades are executed while non-trading fees pertain to broker fees, which is how brokers make their money, such fees include commissions, spreads, margin requirements, and deposit and withdrawal fees, amidst others.

The fees that Real Forex charges cannot be determined due to there being no existing information indicating such on the website.

Traders are cautioned on proceeding with the registration of an account with Real Forex as evaluating broker fees is one of the crucial factors to consider when comparing brokers and their accounts to determine whether they cater for trader needs and objectives.

Traders will need to contact the broker to find out about some of the following fees:

• Minimum deposit required – if there is one required
• Spreads
• Commissions
• Overnight or rollover fees
• Margin requirements
• Inactivity fees along with account maintenance and management
• Deposit and Withdrawal fees, and
• Additional fees that have not been listed here

DEPOSIT AND WITHDRAWAL

The information pertaining to minimum deposits in opening or registering an account cannot be accessed as Real Forex’s website does not provide such, but it can be assumed that Real Forex will support common payment methods such as:

• Bank Wire Transfer
• Credit/Debit Cards
• Various e-Payments such as Skrill, Neteller, and more.

Along with specific information pertaining to deposits and withdrawals, the deposit currencies supported by Real Forex are not indicated, but traders can anticipate the support of major, common currencies such as USD, EUR, GBP, JPY, AUD, and others.

An imperative factor to consider when evaluating brokers is the ease with which deposits and withdrawals can be made, along with security of such funds, and Real Forex pulls into question its legitimacy by not providing information pertaining to this.

Traders are cautioned in avoiding placing trust in unregulated brokers as their fund security cannot be guaranteed.

TRADING PLATFORMS

Trading platforms serve as the trading environment, or vehicle, through which transactions are executed and brokers may offer a variety of trading platforms, or they may rely on their own proprietary in-house trading platform which is tailored to their trading conditions.

Real Forex, according to previous reviews as the website does not contain any information, supports the use of MetaTrader 4 through which trades can be executed.

Most Forex brokers make use of this trading platform because it predominantly and efficiently supports the trade of Forex along with it being highly customizable and user-friendly.

HOW TO OPEN AN ACCOUNT

The Real Forex website does not contain any substantial information with regards to the exact process of opening an account along with the requirements for account verification such as proof of identity and proof of residence, thus, the general process can be assumed.

Traders are however warned against opening an account with this broker until its legitimacy can be ascertained.

When opening an account with a broker, traders are required to do so directly from the website by completing an online application that requires some basic information, financial and banking information, and residential information, amidst others.

As a ‘Know Your Client’, or KYC, process, traders are often required to submit supporting documents that verify their identity and confirms their proof of residence.

In opening an account with an unregulated broker, traders do not only compromise the safety of their funds, but they provide sensitive information that can be used by hackers to gain access to funds and personal information that may lead to identity and fund theft.

CUSTOMER SUPPORT

From the Real Forex website, no information can be gathered regarding customer support, which questions the legitimacy of this broker even more.

EDUCATION       

Provision is not adequately made for education, suggesting that this broker has tailored its services more to expert and professional traders and investors.

There is no indication of educational resources or tools on the Real Forex website.

RESEARCH         

The Real Forex website does not indicate the provision of any research tools and resources such as market news and updates, technical analysis tools, or any others.

AWARDS

There are no rewards mentioned for Real Forex.

CONCLUSION  

There is truly extraordinarily little information available on this broker as the website can be accessed, but there are no menu options or working links. The legitimacy of this broker cannot be confirmed nor denied as there is not enough supporting information.

Previous reviews indicate some features on Real Forex’s trading conditions, but traders are warned when considering opening an account with this broker as a lack of regulation may expose traders to substantial losses.

DISCLAIMER

Trading of leveraged and margined financial instruments such as Forex holds significant risk that may not be suitable for all traders.

Traders need to adequately evaluate their risk exposure, willingness to be exposed to risk and whether they can financially compensate for losses resulting from such risks.

In addition, traders are warned against the risk of using unregulated brokers such as Real Forex to facilitate trades as this only increases existing risks involved with trading, price movement speculation and other risks more greatly.

FAQs

Trading Environment

How many instruments can I trade with Real Forex?

You can only trade Forex.

Which platforms are supported by Real Forex?

Metatrader 4.

Does Real Forex offer leverage?

Yes. Real Forex offers leverage of 1:100.

What spreads can I expect with Real Forex?

Spreads from around 2.1 pips when trading EUR/USD.

Does Real Forex charge commission?

There is no indication of whether commissions are charged on trades.

Is Real Forex regulated?

No. Real Forex is not regulated or authorized.

Is Real Forex a recommended forex trading broker for experts and beginners?

No, Real Forex is not recommended for use by any traders due to the lack of regulation in addition to the lack of information present on the website.

What is the overall rating out of 10 for Real Forex?

0/10

Accounts

What is the difference between a demo and live trading account?

A Demo Account is a risk-free account which is funded by virtual money and allows traders to either practice trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.

Does Real Forex offer a demo account?

Unsure. There is no substantial information on the website that indicates the availability of a demo account.

For how long is the demo account valid?

This information is not available but when generally comparing demo accounts between brokers, the frequent term is 30-days.

Which live trading accounts does Real Forex offer?

Real Forex only offers one standard trading account.

What are the available deposit currencies for a live trading account?

The deposit currencies supported by Real Forex are not indicated, but traders can anticipate the support of major, common currencies such as USD, EUR, GBP, JPY, AUD, and others.

Deposits and Withdrawals

What is the minimum deposit for Real Forex?

There is no minimum deposit indicated.

How do I make a deposit and withdrawal with Real Forex?

The information pertaining to minimum deposits in opening or registering an account cannot be accessed as Real Forex’s website does not provide such, but it can be assumed that Real Forex will support common payment methods such as:

• Bank Wire Transfer
• Credit/Debit Cards
• Various e-Payments such as Skrill, Neteller, and more.

Does Real Forex charge withdrawal fees?

This cannot be ascertained as there is no direct link to deposits or withdrawals on the Real Forex and previous reviews do not indicate withdrawal fees that are charged.

How long does it take to make a withdrawal?

This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.