RIFA FX has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering RIFA FX - run. I wish I had read more negative reviews after my brother mentioned them. I thought the positive ones were real. Maybe some are. My experience over since early this year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Responsive team|Fast deposits
Cons: Currency conversion fee exists
I am in a dispute with RIFA FX over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Copy trading available|Tax reports included
Cons: Search feature is basic
My withdrawal request from RIFA FX has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Wide product range|Portfolio tracking tools
Cons: No crypto staking
I found RIFA FX after doing extensive research and the initial impression was positive. But for a couple of months now later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Educational resources|Demo account available|Clear documentation|Customizable dashboard
Cons: No dark mode on mobile|Email notifications too frequent
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. RIFA FX said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Multi-currency support|Personal attention
Cons: Currency conversion fee exists
Do not use RIFA FX for anything serious. I used them since last summer for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Multiple order types|Great customer service|Fast deposits
Cons: Currency conversion fee exists
Several red flags with RIFA FX: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
I have been trying to close my account with RIFA FX 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: Fast deposits|Reliable uptime|Excellent charting
Cons: Nothing significant
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. RIFA FX recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Dividend tracking|Multi-currency support|Comprehensive tools|No hidden fees
Cons: Alert system is basic
I trusted RIFA FX 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: Detailed reporting|Good mobile app
Cons: Limited demo account features|No dark mode on mobile