Riscoin (riscoin221.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: riscoin221.com.
I lost a significant amount because Riscoin (riscoin221.com) 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: Two-factor authentication|Helpful community forum|Comprehensive tools
Cons: Wait times can be long during peak hours
Riscoin (riscoin221.com) locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Regular updates|Copy trading available|Risk management tools
Cons: Wait times can be long during peak hours|Minimum deposit could be lower
I opened an account with Riscoin (riscoin221.com) for about three months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Dedicated account manager|Multi-device support|Portfolio tracking tools|Copy trading available
Cons: Research section could be deeper|Slow to add new assets
Riscoin (riscoin221.com) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Fast deposits|Wide product range
Cons: Currency conversion fee exists
The hidden fees at Riscoin (riscoin221.com) 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: Wide product range|Transparent fees|No hidden fees|Regular updates
Cons: Wait times can be long during peak hours