RannForex ReviewCategory: Reviews | Author: Trading Brokers | Date: January 29, 2024
RannForex is an online trading platform that’s been on the scene since 2017. Headquartered in Saint Vincent and the Grenadines, RannForex has made a name for itself by offering a range of trading opportunities. RannForex prides itself on its openness and transparency, claiming to offer excellent trading conditions and low costs. But does it live up to these claims? We’ll be taking a closer look at everything from the trading platforms it offers to the types of accounts you can open. So, whether you’re a seasoned trader or just starting out, stick around as we unpack what RannForex has to offer.
Pros & Cons
- Multiple deposit methods are supported, including cryptocurrency options.
- Access to popular trading platforms MetaTrader 4 and MetaTrader 5 is provided
- RannForex offers a diverse range of account types, catering to various trader preferences
- Limited recourse for dispute resolution due to the lack of regulation.
- RannForex operates without regulatory oversight, which can raise concerns about fund safety
- The broker is registered in St. Vincent and the Grenadines, a jurisdiction that is often associated with less stringent regulation and oversight
- RannForex is not responsible for losses, may charge additional fees, or terminate account access at any time
RannForex is an online trading platform that prides itself on its transparency and openness. Founded in 2017, it offers a variety of trading accounts, platforms, and deposit options, providing traders with a degree of flexibility.
One of the standout features of RannForex is the range of account types it offers. Whether you’re a seasoned trader or just starting out, there’s likely an account that fits your style. From the MT5.PRO and MT4.PRO accounts that support both Forex and CFD trading, to the MT5.CRYPTO.FUT account for crypto enthusiasts, and the MT5.IPO account for those interested in IPO and Pre-IPO trading, RannForex has got you covered.
In terms of trading platforms, RannForex provides access to the popular MetaTrader 4 and MetaTrader 5 platforms. These platforms are well-known in the trading community for their advanced features and user-friendly interfaces, making them a solid choice for both novice and experienced traders.
When it comes to funding your account, RannForex offers multiple deposit methods, including Advcash, Perfect Money, Binance (USDT), and internal transfers. They also support cryptocurrency deposits, which can be advantageous for those seeking diverse funding options.
RannForex has developed a business model that entails the lowest possible costs, offering the lowest possible spreads and commissions while providing ideal execution in normal markets. This low-cost model can be beneficial for traders looking to minimize their trading costs. However, it’s essential to note that RannForex operates without regulatory oversight, potentially raising concerns about fund safety and dispute resolution. Traders should carefully consider these factors before choosing to engage with RannForex.
Now, this is where things get a bit tricky with RannForex. You see, RannForex, despite being around since 2017 and having its base in Saint Vincent and the Grenadines, doesn’t have any regulatory oversight. In the world of online trading, regulation is a big deal. It’s like a safety net, ensuring that the broker operates within certain legal and ethical guidelines. But with RannForex, that safety net isn’t there. Now, this doesn’t necessarily mean that RannForex is up to no good.
In fact, they’ve got a whole page on their website dedicated to non-trading regulations, where they talk about things like the legality of funds transferred to RANN LIMITED, which is the company behind RannForex. But without a recognized financial authority keeping an eye on things, it’s a bit like the Wild West out there. Some traders have raised concerns about RannForex’s lack of regulation, with reports of pushy staff members and difficulties withdrawing funds.
And while RannForex claims to offer excellent trading conditions and low costs, some traders have found the trading conditions to be less than ideal and the fees to be higher than expected. So, while RannForex might be an option for those who like to live on the edge, it’s important to remember that trading with an unregulated broker comes with its own set of risks. If you’re looking for a bit more security in your trading, please see a list of regulated brokers for some alternative options.
Platforms & Tools
When it comes to trading platforms, RannForex keeps it classic with the tried and true MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are well-known in the trading world for their reliability, advanced charting tools, and automated trading capabilities. MT4 is particularly popular among Forex traders for its user-friendly interface and robust functionality, while MT5 offers additional features like more timeframes, more indicators, and a built-in economic calendar.
Now, let’s talk about the tools RannForex offers to make your trading experience smoother:
- Trader’s Calculator: This handy tool helps you calculate the potential profits, losses, and costs of your trades. It’s a great way to plan and manage your trading strategy.
- Tick History: RannForex provides access to tick history, which is essential for detailed analysis and backtesting of your trading strategies. This data can be compared with other brokers to ensure you’re getting competitive pricing.
- Quote Archive: For those who like to dive deep into market analysis, RannForex offers a quote archive. This allows traders to review historical pricing and perform thorough market analysis.
While RannForex doesn’t have a traditional education section like some other brokers, they do provide some resources that can help you stay informed and up-to-date with the market.
- Events Calendar: This is a great tool for keeping track of important financial events that could impact the markets. It’s like having a heads-up on what’s coming up so you can plan your trades accordingly.
- Blog: RannForex’s blog is a treasure trove of information. Here, you’ll find articles on a variety of topics, from trading strategies to market analysis. It’s a great place to expand your knowledge and get some insights from the RannForex team.
- Videos: RannForex also offers videos that provide an introduction to the broker and its services. These videos can be a great way to get a feel for how RannForex operates and what they have to offer.
Remember, education is key in trading. The more you know, the better equipped you’ll be to navigate the markets and make informed trading decisions. So, make sure to take advantage of these resources and keep learning.
RannForex offers a variety of markets for traders to dive into, with a focus on currencies and CFDs. Here’s a quick rundown of what you can expect:
- Currencies: If you’re into Forex trading, RannForex has got you covered with a selection of currency pairs. You can trade major, minor, and some exotic pairs, giving you plenty of opportunities to speculate on the movements of different currencies.
- CFDs: For those looking to expand their trading beyond just currencies, RannForex also offers contracts for difference (CFDs). This allows you to trade on the price movements of various assets without actually owning the underlying asset. It’s a way to get in on the action of different markets, like indices and commodities, through a single platform.
These markets offer a range of instruments to trade with, and RannForex aims to provide top-notch technology and trading conditions to its clients. Whether you’re looking to trade EUR/USD or get into CFDs, RannForex has options for you to explore.
Now, one of the cool things about RannForex is that they offer a variety of account types to suit different trading styles and needs. Whether you’re a seasoned trader or just starting out, there’s likely an account that fits your style.
- PRO Account: This account is like the Swiss Army knife of trading accounts. It’s available in EUR or USD and supports both hedging and netting accounting. There’s no minimum deposit, so you can start trading without a big upfront investment. You can trade Forex and CFDs with leverage up to 1:500. There’s a $20 commission per 1 million USD traded (for one side), and swaps and dividend adjustments are available. The stop-out level is set at 60%.
- PRO Account: If you’re a fan of the MT4 platform, this account is for you. It’s similar to the MT5.PRO account but uses hedging accounting.
- ZERO Account: This account is a bit different. It’s also available in EUR or USD and offers Forex and CFD trading with no minimum deposit. There’s no commission, as costs are included in the spread. Leverage goes up to 1:500.
- CRYPTO.FUT Account: For the crypto enthusiasts out there, this account is denominated in USDT and offers crypto trading with 1:20 leverage. There’s a commission of 0.08% (for one side), and swaps and dividend adjustments do not apply.
- IPO Account: This account is for those interested in IPO and Pre-IPO trading. It’s denominated in USD and uses hedging accounting. There’s no minimum deposit or specific margin requirements. Commissions vary, and there are no swaps, dividend adjustments, or stop-out levels defined.
- PAMM Account: This account is available in EUR or USD and supports Forex, CFD, and crypto trading with no minimum deposit. Leverage goes up to 1:500. A commission of $25 per 1 million USD traded (for one side) applies. Swaps and dividend adjustments are available, and the stop-out level is 60%.
So, there you have it. A variety of account types to suit your trading style and needs. Just pick the one that fits you best and start trading.
RannForex offers a variety of funding methods to make depositing and withdrawing funds as convenient as possible for traders. Here’s a breakdown of the options available:
- Advcash: You can deposit in EUR and USD with a 1% fee, and the processing is immediate, making it a quick way to fund your account.
- Perfect Money: Deposit in EUR and USD with a 2.5% fee, and it’s processed immediately. This is another instant option for getting your funds ready for trading.
- Binance (USDT): Deposit USDT with no fees, and it’s processed immediately. However, there may be a 1.5% fee for some transactions. If you’re using BTC, there’s a 1.5% fee, and the processing takes a few hours. The minimum deposit for BTC is 0.002 BTC.
- Internal Transfer: If you’re moving funds between accounts in EUR and USD, there are no fees and the process is instant. However, a 2% conversion fee applies if the account currencies differ.
- Advcash: Withdrawals in EUR and USD have a 2% fee and are typically processed immediately, although some withdrawals may not be automatic.
- Perfect Money: Similar to Advcash, withdrawals in EUR and USD have a 2% fee and are usually processed immediately, with the caveat that some withdrawals may not be automatic.
- Binance (USDT): Withdraw USDT with a fee of 1$ + 1.5%, and it’s typically instant. As with deposits, some withdrawals may not be automatic.
- BTC (Bitcoin): Withdraw BTC with a 1.5% fee, and the processing time is a few hours. The minimum withdrawal amount is 0.002 BTC.
- Internal Transfer: Withdrawals in EUR and USD have no fees and are processed immediately. A 2% conversion fee applies if the account currencies differ.
These funding methods provide flexibility for traders to manage their finances with RannForex, whether they’re looking to deposit or withdraw funds.
In wrapping up our RannForex review, it’s clear that this broker brings some interesting features to the table, such as a variety of account types and funding methods, as well as the popular MT4 and MT5 trading platforms. However, it’s worth noting that while RannForex offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For those of you looking for a bit more peace of mind, exploring brokers with a solid regulatory framework could be the way to go. For additional choices, we encourage you to explore our trading broker reviews. Remember, finding the right broker is about matching their offerings to your trading needs and comfort level with their business practices.