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Score
Hong Kong
15-20 yearsRegulated in Hong Kong
Dealing in futures contracts
Suspicious Overrun
High potential risk
Influence
Add brokers
Comparison
Quantity 7
Exposure
Score
Regulatory Index7.27
Business Index8.75
Risk Management Index0.00
Software Index6.54
License Index7.27
Single Core
1G
40G
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Sanction
Sanction
Sanction
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Company Name
日发国际金融有限公司
Company Abbreviation
RIFA
Platform registered country and region
Hong Kong
Company website
Company summary
Pyramid scheme complaint
Expose
My principal and the commission have not been withdrawn. RIFA is a scam. It delay the payment from last year to the present. They have not solved it for me. Finally, their salesman directly sent me a channel business license and then there is no message.
I get whatsapp msg from other country no and after that she started chatting and after some time she told me for financial help and I installed mt5 and than started trading on Fogee in few days I earned 37833usd when I raised a withdrawn request she shared me a customer service manger no and that Manager ask me to deposit 30% as tax I negotiate with him and ask for 200usd withdrawn only further I transfer 62usdt as tax after that they refuse for fund received and freeze my account now.
On December 8th,2018,I was induced by Zhang Xiankui of RIFA to transfer 25 thousand RMB to the account 6236681210001745012 through China Construction Bank Corporation Shanghai Futures Branch.It equaled $3333.33 with the rate 1:7.5.The salesman said that the platform invited two elite teacher Liu Gudu and Li.Especially,teacher Liu, who can profit 180 pips within 2 hours to earn money by 16 times,is a professional analyst.They all operate for who has large fund.I was in small fund with high risk.He said that these two teacher is the profit guarantee.Since december 10th,2018,the salesman has became the customer service,who asked me to delete the posts online,saying that this is slander.He told that as long as I follow them,I would get back my fund.I appeal more person to avoid the fraud platform.
On April 16th,2018,a salesman of RIFA called me and said that they had cooperation Trade Xia.I had account in it,thus they could acquire my number.They recommended the analyst(zhang Yidong,Mobile phone:18221091431 QQ:997005573),saying that he was a professional analyst whose clients were all owning large fund(400 thousand RMB).The salesman sent me constant message.I said that I had only several tens thousand yuan and had no time to pay attention to the market.They said that they would like to help me follow it and fill the application.With his help.I opened an account and deposited 42000 RMB.At that night,I was told to trade,profiting several hundred US dollars.I asked whether I should close position,he asked me to wait.But the order was closed.I told him about my thoughts.He told me to have a long insight.I was suspicious of him.Then he told me to trade Der Dax ang Heng index,saying that the market would be volatile.Only by trading one lot can I recover the losses.I was amazed.He told me to buy long even the market was going down.I argued with him.Then he said the market was strange.Then I was to go to bed.With his lobbying,I bought a short order of Heng index,resulting in a loss.I was mad.Didn’t he know the market?I made a loss of $3000 overnight.The next morning,he called me and told me to go short of Heng Index.The result was the same.During the trading process,his thoughts was contradict with mine.I deposited 17000 RMB again,then my account became forced liquidation.After that, I found the right protection team and made a complaint on the platform.The salesman called me and said that they would give me $3,000 and asked me to withdraw the case immediately as long as I delete the complaint.I did not agree and said that I must receive it first.On the third day, I received the order voucher (4,200 yuan) by the acquiring institution (Yin Ying Tong).I pondered for a few days and finally found out the flaws. I checked the express number online and figure out that the express was different.I asked the staff,they said that the company asked them to do so.I list the reasons why RIFA and Yinyingtong must give me compensation: 1. It doesn’t give me any risk explanation No one has done any virtual market for me, and asked me to get started. No one told me about any risk and forced liquidation. I just believe that the platform is legit and follow the teachers’ instruction. 2. Fake publicity. Before opening an account, I said that I didn't have time to pay attention to the market, and I didn't understand it. They made me rest assured. Later, I checked the type of license on the WikiFX. It shows that their license(Registration NO.: AAA537)was overrun. 3. RIFA acts as the counterparty with investors.If members make money, they must let the investors lose money. It is a dealing-desk broker.The behavior is prohibited by the 38th civilized order of the State Council. 4. The strength of the CSRC this year is so great that the state attaches great importance to it and is severely cracked. The entire trading system provided by the member units is exactly the same as the pseudo-futures trading model prompted by the CSRC. I have collected a list of QQ order recommendations, bank bills and trading software of the member.
If I can't pay 30%, they will deduct 5% EVERDAY from my MT5 account. I have paid USD33,340.69, balance USD5,400 yet to pay. I have not enough money to pay into it. I can't even get back my money from MT5 to pay back my loan. They're still holding my money. I have balance of 162k USD in my MT5 account. I paid a lot. Now want to withdraw they asked me to settle that 30% deposit then only release my money to my Binance account. How can I claim back my money?
On a friend’s recommendation, I downloaded the 11 APP and deposited 150 thousand. She asked me to download MI Chat and added the teacher 30 minutes before the operation. During that time, I added 50 thousand when there was a cocking market. The teacher claimed that my account is at risky. Then I added 132 thousand to do hedging, making a profit of 1.8 million or so. When it came to withdrawal, I was asked to pay a 20% margin, i.e., 300 thousand or so, at which time, I doubted whether I has been cheated.
RIFA Review Summary | |
Founded | 10-15 years |
Registered Country/Region | China Hong Kong |
Regulation | SFC |
Market Instruments | Securities, futures |
Demo Account | Unavailable |
Trading Platforms | Nifa Securities, Ayers Security Code, Esheng Polestar 9.3, and Yisheng Yixing mobile trading platform |
Minimum Deposit | N/A |
Customer Support | Phone, email |
RIFA is a financial company specializing in securities trading, futures trading, and investment consultancy. It provides services to Chinese-speaking investors, specifically focusing on trading Hong Kong stocks, Hang Seng Index and options, Hong Kong H-share index futures and options, as well as financial products from overseas futures exchanges.
It's important to note that RIFA is regulated by SFC, which provides oversight and supervision to ensure compliance with relevant financial regulations. However, there have been reports and claims of withdrawal issues and scams associated with RIFA. It is advisable to exercise caution and thoroughly research before engaging in any transactions with RIFA or any other financial institution.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros | Cons |
• Regulated by SFC | • Some reports of scam and withdrawal issues |
• Multiple trading platforms and mobile apps | • No demo accounts |
• A range of services and products | • No social media presence |
• No live chat support |
Pros:
Regulation by SFC: Being regulated by the Securities and Futures Commission adds a level of oversight and accountability to RIFA's operations, potentially providing clients with a sense of security and trust.
Range of Services and Products: RIFA offers a variety of services, including securities trading, futures trading, and investment consultancy. This allows clients to access different investment options based on their individual preferences and strategies.
Multiple Trading Platforms and Mobile Apps: RIFA provides clients with various trading platforms and mobile applications. This flexibility enables investors to access their accounts and trade conveniently from different devices, giving them greater control over their investments.
Cons:
Reports of Scam and Withdrawal Issues: There have been reports and claims of scams and difficulties with withdrawals associated with RIFA. These allegations raise concerns about the trustworthiness and reliability of the company, potentially making clients hesitant to engage in transactions.
No Demo Accounts: RIFA does not offer demo accounts, which could be seen as a drawback for individuals who prefer to practice and test their trading strategies in a risk-free environment before committing actual funds.
No Social Media Presence: The lack of a social media presence for RIFA may limit the company's ability to effectively communicate with clients and provide real-time updates or support through popular social media channels.
No Live Chat Support: The absence of live chat support might make it more challenging for clients to quickly receive assistance or resolve any issues they encounter while using RIFA's services.
RIFA is regulated by the Securities and Futures Commission (SFC), which is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets.
However, this broker exceeds the business scope regulated by China Hong Kong SFC (license number: AAA537) SFC-Dealing in securities Non-Forex License. Please be aware of the risk!
As with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.
The trading instruments offered by RIFA include:
Securities:
RIFA facilitates trading in the Hong Kong stock market and the US stock market. This allows investors to buy and sell shares of companies listed on these exchanges.
Global Stock Index Futures:
RIFA provides futures contracts based on global stock indices. These futures allow investors to speculate on the future direction of stock market indices, such as the S&P 500 or FTSE 100.
Agricultural Products Futures:
RIFA offers futures contracts on various agricultural products like grains (e.g., wheat, corn), livestock (e.g., cattle, hogs), and soft commodities (e.g., coffee, cocoa).
Foreign Exchange Futures:
RIFA enables trading in futures contracts based on different currency pairs. Investors can speculate on the exchange rate movements between two currencies in the future.
Energy Futures:
RIFA facilitates trading in futures contracts for energy commodities like crude oil, natural gas, and heating oil. These futures allow investors to speculate on the future prices of these energy products.
Precious Metals Futures:
RIFA provides futures contracts on precious metals such as gold, silver, platinum, and palladium. Investors can participate in price speculation and hedge against fluctuations in these metals' values.
Base Metal Futures:
RIFA offers futures contracts on base metals like copper, aluminum, nickel, and zinc. Investors can engage in price speculation and manage their exposure to these industrial metals.
Interest Rate Futures:
RIFA supports trading in futures contracts on interest rates. These futures allow investors to speculate on or hedge against changes in interest rates, including government bond yields and short-term interbank rates.
RIFA provides its clients with a range of account options to suit their investment needs. These include the Securities Cash Account, Securities Margin Account, and Futures Account.
The Securities Cash Account allows investors to buy and sell securities using the cash available in their account. It is a straightforward and convenient option for those who prefer to trade securities without leveraging additional funds.
The Securities Margin Account, on the other hand, provides investors with the opportunity to trade on margin. This means that they can borrow funds from RIFA to increase their purchasing power and potentially amplify their investment returns. However, trading on margin also comes with higher risks, as losses can exceed the initial investment.
For clients interested in futures trading, RIFA offers the Futures Account. This account enables investors to engage in the trading of futures contracts, which are agreements to buy or sell an underlying asset at a specified price and date in the future. Futures trading allows for speculation on price movements and can be utilized for hedging purposes as well.
RIFA offers many trading platforms for its clients. These platforms cater to different types of trading, such as securities and futures. Here is a brief overview of each platform:
Nifa Securities:
This is a mobile trading platform provided by Nifa Financial. It allows users to trade securities, check Hong Kong stock quotes, access financial news, view leaderboards, manage account information, customize watchlists, and access company information. The platform is available for download on Android 4.0 or iOS 7.0 systems and has a file size of 16 MB.
Ayers Security Code:
The Ayers Security Device is a two-factor authentication tool for online transactions. It provides secure and compliant authentication. The installation environment for this platform is Android 4.0 or iOS 7.0 systems, and the file size is 2.28 MB.
Nifa Futures Trading Software - Esheng Polestar 9.3:
This software is designed for futures trading and offers features like convenient market viewing, a data-rich operation interface, comprehensive trading support, and the ability to trade various external futures products. It is compatible with Windows XP or above.
Yisheng Yixing mobile trading platform:
This platform offers a mobile app for trading. Users can download the app for both iOS and Android devices by scanning the provided QR code. The platform supports external futures trading through Nikfa Futures Big Dipper (GM). Users can log in by entering their trading account and password. It's important to note that the PC version and the mobile version of this platform can only access the market separately.
Fees for buying and selling stocks | |
Type | Cost |
commission | Please contact your broker |
Transaction levy | 0.0027% of transaction amount |
Transaction fees | 0.00565% of transaction amount |
Stock stamp duty | 0.13% of the transaction amount (less than $1 is also calculated as $1) |
Settlement fee | 0.005%, minimum HKD 5.5* (Fee currency is calculated according to the currency charged by the Clearing House) |
China-Hong Kong system connection fee | HK$15 per order (not combined) |
FRC Transaction Levy | 0.00015% of the transaction amount (up to the nearest cent) |
The continuous trading hours for securities is 9:30 am to 12:00 pm in the morning session and 1:00 pm to 4:00 pm in the afternoon session.
On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +852 3900 1718
Email: hkrf@rffg.com.hk
In conclusion, RIFA is a financial company offering securities trading, futures trading, and investment consultancy services. RIFA is regulated by SFC, which oversees its operations and ensures compliance with relevant financial regulations.
It is important to note that there have been reports and claims of withdrawal issues and scams associated with RIFA. As a result, it is advisable for individuals to approach RIFA and any financial institution with caution, conduct thorough research, and exercise due diligence before engaging in any transactions or investments.
Q 1: | Is RIFA regulated? |
A 1: | Yes. It is regulated by SFC. |
Q 2: | How can I contact the customer support team at RIFA? |
A 2: | You can contact via telephone, +852 3900 1718 and email, hkrf@rffg.com.hk. |
Q 3: | Does RIFA offer demo accounts? |
A 3: | No. |
Q 4: | Does RIFA offer the industry leading MT4 & MT5? |
A 4: | No. Instead, it offers Nifa Securities, Ayers Security Code, Esheng Polestar 9.3, and Yisheng Yixing mobile trading platform. |
Q 5: | Is RIFA a good broker for beginners? |
A 5: | Yes. It is a good choice for beginners because it is regulated well and offers various products and services. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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