Rivobanc, a Switzerland-based brokerage, markets itself as a versatile platform offering a wide range of investment options and competitive trading fees. It also features a proprietary mobile app with functionality similar to MT5, aimed at attracting traders looking for convenience. However, significant shortcomings, such as the absence of a desktop version and a lack of information on account types, raise questions about the platform’s credibility.
Website: https://www.rivobanc.com/
Website Availability: No
Address: Esplanade, 3 de pont-Rouge, Lancy, SWITZERLAND, 1212
Regulation: No Regulation
Warning: Financial Conduct Authority (United Kingdom)
Domain Age:
- Name RIVOBANC.COM
- Registry Domain ID 2849560589_DOMAIN_COM-VRSN
- Registered On 2024-01-25T19:25:37Z
- Expires On 2025-01-25T19:25:37Z
- Updated On 2024-01-26T01:58:01Z
Regulatory Warnings
Rivobanc’s operations have caught the attention of financial authorities for all the wrong reasons. Both FCA and CBI have issued warnings against the firm. These warnings highlight Rivobanc’s lack of proper licensing, making it an unregulated entity.
User Complaints and Experiences
Numerous user reviews paint a troubling picture of Rivobanc’s practices. A recurring complaint is that the platform lures users with promises of high returns. Many investors report being shown fake returns on demonstration accounts to build trust. However, once they deposit funds, the situation changes dramatically:
- Aggressive Marketing Tactics: Many users report being bombarded with persistent calls after making their first registration. The firm’s representatives often pressure users to deposit more funds.
- Losses and Additional Demands: Some users allege that Rivobanc’s representatives set up losing trades deliberately. They then encourage additional deposits under the pretext of recovering losses.
- Unprofessional Behavior: When users express a desire to close their accounts or withdraw funds, they are often met with hostility. Reports of representatives becoming rude and even hanging up the phone are not uncommon.
Key Takeaways
Based on the evidence and user experiences, Rivobanc appears to be a high-risk platform. The lack of licensing and the numerous complaints highlight significant concerns.
This Rivobanc review underscores the importance of prioritizing regulated and transparent brokers when trading in financial markets.
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