Rong Hui's Official Website Cannot Be Accessed Normally At The Moment. The Company Seems To Have Gone Out Of Business. Therefore We Can Only Collect Some Relevant Information For Reference Only.
General Information
Rong Hui Limited Is A Newly Established Forex Broker. Although It Is Still Considered Relatively Young Compared To Other Forex Brokers, Its Performance In The Financial Sector Is Still Commendable. Rong Hui Limited Allows Clients To Trade With A Huge Market, Including Stock Trading, Foreign Exchange, Gold And Silver, Oil Trading. Rong Hui Offers Clients A Leading MT5 Trading Platform With Leverage Up To 1:400 And A Minimum Lot Size Of 0.01 Lots.
Established About 1-2 Years Ago, The Company Operates Ronghui Group Co., Ltd Under The Registered Name. But It Is Worth Noting That The Regulatory License RONG HUI Held By The Company Raises Suspicions.
To Start Trading RONG HUI, A Minimum Deposit Of $1,000 Is Required. The Broker Offers A Maximum Leverage Of 1:400, Allowing Clients To Enlarge Their Trading Positions. For Those Looking For Low Spreads, RONG HUI Offers An Original Spread Account Option With Spreads Starting From 0.0 Pips.
Trading Platform Support RONG HUI Is A Mt5 Trading Platform. This Provides Traders With A Powerful And Versatile Platform To Execute Their Trades. However, The Broker Offers A Limited Range Of Tradable Assets, Including Forex, Metals And Indices.
RONG HUI Offers Two Main Account Types: Original Spread Account And Commission Free Standard Account. While The Site Does Not Explicitly Mention The Availability Of Demo Or Islamic Accounts, It Is Advisable To Contact RONG HUI's Customer Support For More Information On Account Types And Suitability For Individual Trading Preferences.
Rong Hui Claims To Be Owned And Operated By RONGHUI GROUP CO., LTD. The Company Is Regulated In The United States By Two Financial Institution Groups, Including FinCEN (MSB Operating License Number 31000209641672) And NFA (NFA ID 0546757). However, Despite These Statements, The Broker Is Still Not Effectively Regulated For The Following Reasons:
1) FinCEN Does Not Regulate The Foreign Exchange Market And Does Not Issue Licenses To Operate For Dealers Who Engage In Such Activities.
2) We Did Find Results Matching This Broker In The Registration Register Of The NFA, However, Rong Hui Is Not A Registered Member Of This Regulator And Is Therefore Not Effectively Regulated By The NFA. As A Foreign Exchange Trader, You Must Keep In Mind That If A Trader Claims To Be Eligible To Solicit US Clients For Foreign Exchange Trading, Then They Must: 1) Be A Registered Member Of A Foreign Exchange Dealer Recognized By The NFA; And 2) Be Recognized As A "retail Foreign Exchange Dealer". It Is Clear That Rong Hui Does Not Meet These Conditions.
All Evidence Clearly Shows That The Broker Is Just A Registered Company, Not A Regulated Company, And Has No Authority To Conduct Financial Business. This Is A Fake Trader.
