KROUFR blacklists Rinkost Markets

6 December,, Lagos – Russia’s Commission Regulation of Financial Markets Relations (KROUFR) has again warned the general public against dealing with a firm, discovered to be dubious in its affairs. This was found following a recent ongoing reliability check run by the non-profit organization, which aims to develop services and to regulate the relations of the Russian participants of international financial markets.

Based on recent discoveries, the regulator has reiterated to the public that they should endeavor to work only with reliable companies. They urged that various yardsticks should be checked before settling to deal with any broker. One of the major issues being faced by clients when dealing with a fraudulent firm is difficulty in withdrawal of funds.

Rinkost Markets false claims

Rinkost Markets, a firm which claims to be registered in the Seychelles under number 141877 and is located at: Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles. The firm has a host of dealings, which includes Binary options, Forex, investments packages as well as signal provision and copy trade platform. A truly regulated firm will have to have independent licenses to cover some investment packages, separate from binary options or FX brokerage license. However, this company has been unresponsive to client requests, going as far as blocking some clients’ accounts in the process. The contact phone number listed on the website of the firm became unavailable some days back, but the trading terminal of the firm remains active even after an account is blocked. Even the website takes time to open, and sometimes, it is out rightly not accessible. This firm has displayed the qualities of a typical fraud, as it also displays a host of licenses on its website, which are yet to be verified as genuine.

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The company is known to have been sold about a month, with the fate of the broker unknown in the hands of the new owners.

Based on these observations, KROUFR has warned against such firm which offer extremely high bonuses or other packages which may make one skeptical of dealing with a firm. Hence, KROUFR blacklists Rinkost Markets as the firm has shown signs of fraudulent dealings.

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