RevolutExpert Review
| General Information | |
|---|---|
| Broker Name: | RevolutExpert |
| Broker Type: | Forex |
| Country: | Saint Vincent and the Grenadines |
| Operating since year: | N/A |
| Regulation: | N/A |
| Address: | First Floor, First ST Vincent Bank LTD Building, James Street, Kingstown VC0100, St. Vincent and the Grenadines |
| Broker status: | Active |
| Customer Service | |
| Phone: | 447418355123 |
| Email: | compliance.en@revolutexpert.co |
| Languages: | English |
| Availability: | 24/5 |
| Trading | |
| The Trading platforms: | MetaTrader |
| Trading platform Time zone: | N/A |
| Demo account: | Yes |
| Mobile trading: | Yes |
| Web-based trading: | Yes |
| Bonuses: | No |
| Other trading instruments: | Yes |
| Account | |
| Minimum deposit: | $1000 |
| Maximal leverage: | 1:500 |
| Spread: | Floating |
| Scalping allowed: | Yes |
CONTENT
- General Information & First Impressions
- Fund and Account Security
- The Trading Accounts
- RevolutExpert’s Trading Platform
- Funding and Pricing
- Trading Products at RevolutExpert
- Customer Service at RevolutExpert
- Conclusion
RevolutExpert Review – poor brokerage to trade with at best
General Information & First Impressions
RevolutExpert is a new midrange brokerage offering trading services for a wide variety of materials via CFDs. The broker focuses on its forex service but provides trading on all major categories, excluding cryptocurrencies. RevolutExpert works from Saint Vincent and the Grenadines, more precisely First Floor, First ST Vincent Bank LTD Building, James Street, Kingstown. It’s a fairly unknown brokerage, so we’ve decided to provide its potential clients with some detailed insight. Our RevolutExpert review will tell you all you need to know about the brokerage’s service and user experience.
The first thing we noticed about the company is that its website is way overly promotional. The broker is eager to spew over-the-top statements that don’t really have anything of substance to them. We could perhaps forgive that on the landing page since it’s unfortunately become a common tactic for brokers. However, the particularly bothersome thing with RevolutExpert is how widespread its advertising is.
A good example is when you want to access the trading platform info from one of the drop-down menus. Usually, a broker would name that button platform, trading platform, or “platform name” platform. However, RevolutExpert decided to name it the best platform. Is there really a need to promote when customers just want to find out basic info? There are numerous similar examples, and it gives the broker an odd clickbaity feel instead of a professional one.
Otherwise, the broker’s website organization is also a mess. The sections are odd and have things that seem misplaced. The platform info we mentioned before is under the accounts tab, and there’s an entirely nonsensical bonus button. Overall, just going by initial impressions, we’d be inclined to call RevolutExpert a scam. But before we make such claims, let’s explore some more.
Fund and Account Security
Our initial impression of the broker wasn’t very good, and as such, we were pretty skeptical about its security. Unfortunately, the broker didn’t do much to reassure us, and its trust rating remains low. For starters, it’s difficult to find basic info about the broker, as it doesn’t state it anywhere. Things like foundation date and basic trading info are mostly a mystery before you sign up. That’s common behavior for scam brokers, and a valid brokerage shouldn’t act that way.
Furthermore, it seems like the broker doesn’t have an actual physical address. On revolutexpert.co, the broker states that a PO box is its address, another highly alarming detail. That makes it nearly sure that the broker can get away with any sort of underhanded business without any consequences. The fact that the broker is unregulated also adds to that, meaning traders are up to RevolutExpert’s goodwill.
Also, the broker has amassed quite a negative reputation in the short period it’s been around. Its customers speak of major transgressions, such as missing funds and random account closures. And the way RevolutExpert set up its service doesn’t exactly talk against that. Overall, while the broker might not be a straight-up scam, it’s definitely not trustworthy either. Our security rating for it is quite poor, and we wouldn’t be comfortable putting our own money in RevolutExpert’s hands.
The Trading Accounts
RevolutExpert has three account types, and the first one starts at $1,000, which is noticeably above the industry standard. That makes the broker’s poor security rating we talked about earlier in our RevolutExpert review even worse. One good thing is that the broker provides a demo account option, but you have to register and submit personal info for that. As such, the feature is less impressive than it could have been.
It’s also weird that the broker’s account comparison page doesn’t even have any account info on it. It’s another example of the broker being sloppy at best when creating its website, which isn’t great. However, there’s some account info we can look at on the landing page.
But even when you look there, things don’t become much clearer. The “account info” includes some features that are commonplace with brokerages, such as 24/5 support. Furthermore, most things are the same between all three variations, excluding the storage time of transactions history. The storage time lengthens with more expensive types.
So if we understand correctly, the broker intentionally deletes your transaction history if you choose cheaper accounts. That’s massively underhanded and a nonsensical thing for a company to do. It’s clear that RevolutExpert is intentionally worsening service for budget users so that they’d invest more.
RevolutExpert’s Trading Platform
The broker provides users trading services via MetaTrader 4, which might just be the highlight of the entire service. The platform should be familiar to most traders with any experience. It’s well-known for its intuitive user interface and solid analytical capabilities, making it a potent trading tool. Using it just means RevolutExpert did the bare minimum, and the platform is quite widespread. We should note that the broker also offers Web and Mobile versions of their trading platform.
Funding and Pricing
The funding and pricing are pretty unclear with RevolutExpert. The broker says it offers free deposits under its bonus tab as if it’s something revolutionary. That tells us the broker charges you just to get in the service, and it’s not entirely impossible it charges on withdrawals too. As we said earlier in our RevolutExpert review, it’s quite vague when giving information about itself. In the same tab, it uses a 7% deposit fee as an example; that’d be insane, so we at least hope it’s lower.
It doesn’t state detailed info about its spreads anywhere we looked, and that means you don’t know the exact pricing before going in. Naturally, we can’t suggest signing up for a trading service with so many question marks. The other trading conditions are a mystery as well, or the broker puts info on them in random spots.
Trading Products at RevolutExpert
The broker states to have about 1,250 assets as a part of its service. As you already likely know, that’s tolerable but not exactly fantastic. As we said earlier in our RevolutExpert review, the broker’s library includes all major categories except cryptocurrencies. The entire selection is somewhat underwhelming, especially since RevolutExpert is a CFD broker.
Customer Service at RevolutExpert
RevolutExpert’s customer service is strange and the broker has conflicting information regarding it. Depending on where you look, the work time will vary between 24/5 and 24/7. In our experience, when that’s the case you can usually bet on the worse one being true. But that just speaks more towards the broker’s carelessness when creating its website and service. On the dedicated contact us page, it isn’t even 24/5, but Mon-Fri: 9:00 – 19:00.
RevolutExpert Review: Conclusion
RevolutExpert is a poor brokerage to trade with at best. The trading conditions are difficult to find, and the ones that are clear are underwhelming. That means the things that the broker doesn’t want to show are very likely even worse than that. Furthermore, the broker has glaring trust issues that we can’t just ignore when looking at the rest of its service. In other words, we’re not too far from calling RevoluExpert a scam.
If we give the broker the benefit of the doubt, it’s still a company that’s sloppy and unprofessional. So even in the best-case scenario for the firm, it doesn’t fare too well against much more competent competitors. To wrap up our RevolutExpert review, we’d like to advise against signing up for the broker’s service. There’s a ton of online brokerages that are more professional, clearer, and provide vetter trading qualities.
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