RevolutExpert Review – Why is it a Scam Broker?

RevolutExpert Review

When you are hunting for an online broker, you obviously want to have access to the right one, but finding it is easier said than done. The hundreds of thousands of companies you will come across are going to leave you flummoxed because each one you check out seems better than the last and you could go on like this for days.

Most people would just opt for one at random out of frustration, but this could land you into trouble. Why? This is because it could be a scam. Indeed, those exist, as you will find in this RevolutExpert review and you have to avoid them if you do not want to lose your capital.

The internet is a stomping ground for criminals, given that there is no such regulation, so you need to be very cautious, or else you could slip into a trap without realizing it.

The reason this happens is because these criminals have gotten extremely good at fooling people. They know just how to present themselves in a good light and conceal their flaws that most people are unable to figure out the truth until it is past the point of no return.

So, what do you do? You do not have to suffer the same fate as countless others, as long as you are willing to put some effort into checking out a brokerage.

No matter how impressive their promises may be and how eager you are to sign up, you have to take the right approach and always take a close look at everything the broker claims. This will assist you in determining if it is just talk, or the company is actually capable of delivering what you want.

One of the brokers you will come across is RevolutExpert that claims to be a global brokerage that has earned the trust of 400,000 traders worldwide.

It appears to be a lucrative platform that gives you access to thousands of trading instruments, such as forex currency pairs, as well as CFDs on energy commodities, raw materials, precious metals and stocks. You add generous leverage and tight spreads to the mix and it sounds like a perfect package.

But, when something sounds too good to be true, it usually is and the same applies to RevolutExpert because you will find a number of issues that reveal it is just a scam. What are they? Let’s find out.

Blacklisted by a regulatory authority

If there is one thing that can confirm that you are dealing with a scam brokerage, it is when a regulatory authority issues a warning regarding the company. This is the case with RevolutExpert as the National Securities Market Commission (CNMV) has issued a warning about it.

It notes that the company is offering its services in the Spanish markets without authorization. This means that the brokerage does not have a license to operate in Spain and is still offering its services in the country.

Furthermore, it appears that RevolutExpert is actually just a remake of another scam, as the domain name has been modified a bit.

This is typical of scammers, as the previous name was RevolutExpert.co and now it has been changed to RevolutExpert.ltd. It is the norm for scammers to switch to a different webpage in order to continue their clandestine activities when one page is exposed.

Offshore brokerage

The fact that RevolutExpert is blacklisted is already a major issue and to add to it, you will find that it is also an offshore broker. According to its website, it is owned and operated by a company named SANGUINE SOLUTIONS LTD., which is based in Saint Vincent and the Grenadines.

This offshore jurisdiction is reputed to be a scam haven, given that its regulatory authorities do not oversee the forex market, which certainly does not help the broker’s credibility.

Lies about trading platform

Things continue to get worse for RevolutExpert when you continue digging into its offerings. One of its major and attractive claims is that it offers its clients the MetaTrader platform.

This sounds impressive, but the brokerage does not clarify if it is the MT4, or the MT5, which are the two versions available. But, it does not really matter because it turns out that RevolutExpert is not really offering the MetaTrader platform at all.

Once you register yourself with RevolutExpert, you will be given access to an oversimplified and basic web trader that lacks most of the trading tools and functionalities that are needed for a seamless trading experience. The web platform is quite common amongst scammers, so it is not that surprising.

Terrible trading conditions

If you thought you were going to get good trading conditions at RevolutExpert, then you are in for another surprise. Even though it claims to offer tight spreads, it has a completely different definition of what that means because they are as high as 3 pips. Competitive brokers will usually offer spreads lower than 1 pip.

As far as leverage is concerned, the ratios offered by RevolutExpert go as high as 1:500 and this should not be considered a positive either because they are extremely high and downright dangerous for any trader.

High minimum deposit

The minimum deposit that you have to make for opening an account with RevolutExpert is $1,000, which is extremely high. Nowadays, brokers are allowing their clients to open micro accounts for as low as $10.

Even if the standard minimum deposit was followed, it should not be higher than $250, yet they are asking for four times more. This is also a norm amongst scams because they want to get as much money as possible.

Only crypto payments

Lastly, even though RevolutExpert advertises a ton of payment methods like bank wire transfers, Piastrix and VISA and MasterCard, you will find that it only supports one option; crypto assets. These payments cannot be reversed and are anonymous, which has made them a favorite of fraudsters.

Wrapping Up

Taking into account the flaws that you uncover in RevolutExpert, you can see that it is just a scam brokerage.