Established in 2021, RichFielder was an apparent trading scam. The plan was to extort as much money as possible and vanish, as it happened in the end.
The company was banned all around Europe, and we found numerous negative comments. Let’s go through this RichFielder review together and find out more.
Also, we encourage you to read our most recent scam broker reviews for IQCent, TradeVTech, and MetaversesWorld. For those who aren’t aware, their investment opportunities are simply too good to be true!
|Broker Status:||Offshore Scam Broker|
|Broker Regulation:||Unlicensed Forex Provider / No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||FCA, FMA, FINMA, CONSOB, CNMV, FSC Bulgaria|
|Headquarters Country:||Switzerland (allegedly)|
|Mobile Trading:||Not Available – only via web|
|Minimum Deposit:||5,000 GBP|
|Crypto Trading:||Available – BTC, ETH, XRP|
|CFD Trading:||Yes, you can trade CFDs|
|Trading Instruments:||Forex, commodities, indices, shares, cryptocurrencies|
|Islamic Account:||Not Available|
|Demo Account:||No, only live trading accounts|
|Accepts US Clients:||US traders are accepted|
|Global Fraud Protection Team:||Don’t Invest in This Scam Broker!|
Is RichFielder a Scam Broker Without Regulation?
RichFielder was an anonymous trading company with alleged headquarters in Switzerland. Besides, the firm added two more addresses, in Singapore and Dubai. Each of these has a firm licensing of Forex markets. Hence we were on the quest of finding RichFielder regulation.
As you can imagine, neither FINMA, MAS, nor DFSA has any information about richfielder.com. Furthermore, the company doesn’t comply with the leverage limit imposed in the EEA zone by the official watchdog, ESMA. According to it, the leverage for retail traders cannot exceed 1:30, whereas RichFielder broker offers up to 1:100.
Since we don’t know the owner’s name, we can only assume the firm was hiding offshore, far from any regulatory oversight. However, authorities issued many bans on the scheme site, which resulted in their disappearance in 2022.
RichFielder is a trading broker that vanished after a number of regulatory warnings. The firm was banned in the UK, Switzerland, and Austria.
Warnings Against RichFielder Fraud
In September 2021, we received an official warning against the RichFielder scam issued by the UK FCA. According to this notice, customers involved with the scammer cannot count on the assistance of the Financial Ombudsman or FSCS compensation scheme.
This warning was later republished in Spain and Italy.
Then, the Swiss regulator issued their own warning regarding the firm. Since the company pretends to have an address in Switzerland, FINMA denied it by stating that such a firm has never entered its commercial register.
Finally, in November 2021, the Austrian FMA issued a similar warning, saying that RichFielder broker carries out banking transactions without proper authorization. This alert was then republished in Bulgaria.
Where Do RichFielder Victims Live?
Our in-depth research and complaints we received indicate that the RichFielder trading scam was mainly present in:
- South Africa,
Since unregulated, the company has no authorization to operate in any of these. When trading with unlicensed entities, customers have nowhere to file a complaint. It’s a risk to consider before handing over your hard-earned money.
How Does This Fraudulent Company Find Victims?
RichFielder was promoting its services through fraudulent articles and landing pages. The company claimed that anyone could make 10,510 EUR within 21 days using their immense trading system.
These ads were shown on Ikoinitex in German, Bitcoin System, and DailySafeInvestment in English. Once you click on any of the pages, you’d be redirected to RichFielder, where you must sign up and leave your personal information, including phone and email.
Then, broker employees would call with various offers, each better than the previous. They’d convince you to invest and add you to private Telegram and WhatsApp chats.
Nowadays, scammers use social media, dating apps, and many other means to scam their clients. If you receive any unsolicited calls or offers, verify everything regardless of how tempting it may sound. It’s the only way to stay safe with so many scammers around.
What Trading Platforms Are Available?
We reviewed the RichFielder trading platform and remained disappointed. The company only offers WebTrader, and it’s the most basic one. It has no special tools or features and doesn’t support any advanced functionalities, such as EAs or social trading.
Often, scammers don’t want to pay for credible platforms, such as MT4, MT5, or cTrader. Each of these has millions of downloads, and clients are highly satisfied with all the features. Unlike plain browser-based software, they’re suitable for both trading beginners and pro investors.
What Can You Trade With a Broker? – Trading Instruments
The company offers a standard range of five asset classes:
- Forex pairs – EUR/USD, USD/JPY, CAD/NOK
- Commodities – gold, natural gas, palladium
- Indices – FTSE100, S&P500, BE20
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, XRP, USDT
Spreads, swaps, and other trading commissions are hidden. Presumably, the broker is waiting for you to pay the initial deposit to tell you how much you’ll pay under various trading costs.
RichFielder Demo Account – Can I Trade For Free?
You can no longer access the website or RichFielder Demo account. Even while active, this firm didn’t offer trial accounts to its customers. Instead, they asked for an incredibly high initial deposit of 5,000 GBP before approving access to WebTrader.
This is typical behavior of financial swindlers. They avoid giving you access to anything while telling you all you want to hear, only to entice you to deposit. Then, you learn the harsh truth – your broker is a fraud.
I Lost Money With RichFielder Scam, What to Do?
Being a scam victim of fraudsters like RichFielder is never easy. You trust someone to improve your financial situation and, instead, end up ripped off.
Global Fraud Protection has made it its personal mission to protect victims. We’re doing everything we can to ensure you don’t lose your money to scammers. And if it happens, we’re helping you with a chargeback procedure. Book a free consultation today, tell us your story, and let’s begin your way toward recovery!
All In All, Don’t Let the Scammers Get Away for Free!
Is RichFielder a Legit Broker, and Should I Invest In It?
RichFielder is an unregulated financial scam without a license. If you invested any money with the scheme firm, we might be able to help you with recovery.
What Is a RichFielder Minimum Deposit?
The brokerage requires an exceptionally high initial deposit of 5,000 GBP.
Can I Trade Crypto and CFDs With RichFielder Broker?
You can trade crypto and other CFDs, but due to the broker’s illicit status, we advise you to avoid it.
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