is richmondsuper licensed or not?

By Ahmad, from Canada, February 5, 2021 at 09:48 PM

Dear sir, I would like to have some information about financial institution weather this broker is licensed or not. I hope this entity can give me some information. Regards, Ahmad

Answer: Hi Ahmad,

We have done some research and can definitely say that Richmond Super cannot be trusted. It is an offshore unregulated Forex broker. And the lack of regulation is the main red flag in our case. This broker does not provide any information about the company behind the brand’s name, as well as its address and regulatory information.

What we managed to find is that the terms and conditions state Richmond Super is under the jurisdiction of the courts of St. Vincent & Grenadines. It is now clear the broker is registered offshore and traders funds are not protected by any proper regulator. We have covered all the reasons such brokers should be avoided in our article Forex Trading: Why Avoid Brokers from St Vincent & The Grenadines. This is the reason why we always ask traders to avoid unregulated brokers and do a proper research before investing. The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity.

If you are looking for a reliable broker to invest with you can check our list of the Regulated Brokers.

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