An objective review of the forex broker Rietumu Bank and feedback about it.
Objective review of the forex broker Rietumu Bank and reviews about it
The company Rietumu was founded in 1992 in Latvia and has actively developed over its existence, as evidenced by various awards. In particular, The Banker magazine named it the second fastest-growing bank in Central Europe in 2002. In 2018, the financial company Prudentia, in cooperation with Nasdaq Riga, included Rietumu in the TOP 101 rating – a list of the most valuable brands in Latvia.
However, when it comes to brokerage activities, there are many negative reviews, especially in the Russian-speaking segment of the internet. We conducted a detailed analysis of the activities of the forex broker Rietumu to identify the main reasons for customer complaints.
Official website review
The website rietumu.ru is available in Latvian, Russian, and English. The company focuses on serving corporate and large private clients, as well as offering business financing. The address of the forex broker is Latvia, Riga, Vеsetas Street, 7, LV-1013, 24-hour contact phone +371 6702 55 55.
Regulation
There is no information on the official website of the forex broker Rietumu.ru regarding the presence of licenses, which raises certain doubts. However, the website of the Latvian Financial and Capital Market Commission indicates that there have been violations in Rietumu’s activities, resulting in a fine being imposed.
Social media accounts
The website mentions the company’s accounts on Facebook and LiveJournal, but access to them is limited or discontinued. This may raise suspicions and questions among clients.
How to open an investment account with the forex broker Rietumu
To open an account, you need to fill out a questionnaire that contains a large number of questions. After that, the company’s specialists will conduct an analysis and offer a contract that meets the client’s needs.
Thematic portfolio review
- Commodity Basket: investments in the commodity sector.
- Brands & Luxury: investing in premium brands.
- Industry 4.0: shares of innovative companies.
- Fund Selection Basket: investing in global investment funds.
- Target Maturity Bonds: investments in US Treasury bonds.
Trading platforms review
- QUIK: trading terminal for working on the Moscow Exchange.
- RB Trader Station: a modern platform with a deposit starting from $5,000.
- Rietumu FX: a platform based on MetaTrader 4 for convenient trading.
Types of accounts
- Silver Plan: no additional commission, spread on the EUR/USD pair from 3.4 points.
- Gold Plan: with commission, price difference on the EUR/USD pair is 0.4 points.
Customer reviews of Rietumu
Many negative reviews about the forex broker Rietumu, especially from Russian-speaking traders, point out problems and potential risks of cooperation with this company. It is recommended to exercise caution when choosing a broker for investment.