Introduction to Raynar Prime:
Raynar Prime primarily offers trading services in forex, commodities, metals, stocks, and indices to investors. According to the information on Raynar Prime's official website, the company is registered in Australia. Based on the search results from the Australian Securities and Investment Commission (ASIC), the company's registration information appears to be accurate. After conducting a WHOIS query on the website's domain, it was found that the domain was registered on December 12, 2022, which is less than a year ago.
Is Raynar Prime compliant and legal? Does it hold the necessary financial regulatory licenses?
Raynar Prime's official website indicates that the company holds an Authorized Representative (AR) license from the Australian Securities and Investment Commission (ASIC) and is an authorized representative of WHOLESALE INVESTOR SERVICES PTY LTD. However, AR licenses generally have weaker regulatory and investor protection measures.
Trading Instruments Offered by Raynar Prime:
Raynar Prime's official website provides information that the company offers trading services for forex, commodities, metals, stocks, and indices to investors. Additionally, the website offers details about contract sizes, minimum and maximum trading units, and other aspects of specific trading products within forex, commodities, metals, stocks, and indices.
Trading Software Provided by Raynar Prime:
According to Raynar Prime's official website, the company offers two trading software options to investors, namely MetaTrader 4 (MT4) and a proprietary platform called Monry2. The MT4 trading software is compatible with desktop platforms (Windows/MacOS) and mobile platforms (iOS/Android). However, the website does not provide specific information about the suitability of the Monry2 trading software.
Fund Safety:
The broker has not disclosed any third-party fund regulation information on its official website, raising concerns about the safety of users' funds.
Deposit and Withdrawal Channels:
Raynar Prime's official website does not provide information regarding deposit and withdrawal channels, processing times, fees, or supported currencies.
Leverage Ratios:
The official website of Raynar Prime has not disclosed the leverage ratios for specific trading products in forex, commodities, metals, stocks, and indices.
Summary:
Raynar Prime is a highly risky forex broker that has not provided essential information about fund safety, deposit and withdrawal methods, and leverage ratios on its official website. The broker shares the same controller as Opixtech Cendel Forex and is suspected of absorbing funds through Opixtech Cendel Forex while Raynar Prime is responsible for investor exploitation. Raynar Prime is labeled as a "Ponzi scheme" on TraderKnows.
TraderKnows warns you to stay away from high-risk investment schemes and advises caution to protect your financial assets.
