RI Markets has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +442039364555
Addresses: Trust Company complex Ajeltake Road Ajeltake Island Majuro Republic of Marshall Island MH 96960 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.rimarkets.com.
I had a dispute with RI Markets and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Transparent fees|Easy withdrawals|Automated trading options
Cons: No phone support on weekends|Would like more payment methods
RI Markets has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Real-time alerts|Transparent fees|Regular platform improvements|Comprehensive tools
Cons: No integrated tax optimization
I lost a significant amount because RI Markets did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Fast support response|Clean UI|Multiple order types
Cons: No live chat on mobile
I have been trying to close my account with RI Markets for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Regular platform improvements|Comprehensive tools|Educational resources|Two-factor authentication
Cons: Wait times can be long during peak hours|Minimum deposit could be lower
After spending for over three years trying to make RI Markets work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Portfolio tracking tools|Regular platform improvements|Personal attention
Cons: No fractional shares
After since I retired last year with RI Markets I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Social trading features|Educational resources|No hidden fees
Cons: No integrated tax optimization|Limited social trading features
The so-called education at RI Markets is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted since the beginning of the year thinking they would help me learn.
Pros: Social trading features|Excellent charting
Cons: Limited demo account features
The hidden fees at RI Markets are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Customizable dashboard|Economic calendar|Responsive team
Cons: Could offer more webinars|No crypto staking
I joined RI Markets from a blog post comparing services and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Responsive team|Personal attention|Wide product range
Cons: Cannot customize dashboard fully|Alert system is basic
I trusted RI Markets with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Customizable dashboard|Regular updates
Cons: Wish they had more educational resources