FX.co ★ Rietumu - Broker rating, review and comments

About company

Rietumu FX (Rietumu) is a subsidiary of Rietumu Bank, established in 1992. The broker is regulated by the Latvian Financial and Capital Markets Commission (FCMC). Since Rietumu’s activity is regulated by a reliable European regulator of financial markets, the broker is obliged to comply with certain rules applied by this authority, including keeping customer funds in segregated accounts and mandatory participation in customer compensation programs.

Trading conditions

• ability to carry out transactions on the stock, futures, bonds, and options markets through a professional broker
• voice trading function (trading operations can be carried out by phone through the brokerage department of Rietumu)
• access to leading world exchanges
• currency, oil, and metals trading
• market liquidity from reliable market maker banks
• fast order execution using STP technologies
• scalping (no restrictions on the distance for a Stop Loss)
• wide range of currency pairs, commodities, and precious metals
• two types of accounts: Silver and Gold

Trading platform

Rietumu offers its clients the RB Trader Station platform, developed on the basis of the popular MetaTrader 4. RB Trader Station is a multifunctional platform that allows users to trade a wide range of assets through a single interface. The platform supports over 50 different trading orders and algorithms. RB Trader Station provides clients with access to stocks, futures options, and a variety of other instruments on over 100 markets around the world. Another version of the Rietumu trading platform is QUIK. With the help of QUIK, users can trade stocks on Moscow Exchange, and futures and options on the FORTS market. QUIK allows traders to conduct multidirectional trading operations, and monitor the portfolio status and margin requirements online.

Support service

The Rietumu support service could serve as an example for any broker. Rietumu clients can contact the support team 24 hours a day via phone, email, and live chat.

Traders’ reviews

There are both positive and negative reviews about Rietumu on the Internet. Sometimes clients call Rietumu a conservative firm but agree that the broker’s adherence to rules makes it a reliable and stable company. Some traders accuse Rietumu of adjusting quotes within their platform and consider it unacceptable. Users’ positive comments include a wide range of trading instruments and the opportunity to use various trading strategies.

Advantages:

• round-the-clock support service
• broker is a division of a European bank which inspires confidence among traders
• large selection of trading platforms
• regulated by a reliable supervisory authority

Disadvantages:

• account replenishment only via wire transfers
• high minimum deposit
• no free demo account
• complex identification system for non-residents of Latvia