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Rong Hui

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Operating status: SCAM

Website: http://www.ronghui.club/en/; https://ronghuiforex.com/zh-hk/; https://ronghuifi.com/zh-hk/; http://ronghuimarket.com/

Broker violations and abnormal records
  • 2022-05-09 BrokersView has reviewed that Rong Hui is an unregulated forex broker

    Rong Hui claims to be owned and operated by RONGHUI GROUP CO., LTD, a regulated broker in the US by two financial authorities, including FinCEN under MSB license number 31000209641672, and NFA under NFA ID 0546757. However, despite its claims, this broker doesn't fall under valid regulation for the following reasons. 

    1) FinCEN does not regulate forex markets nor does it issue licenses for brokers engaging in such activities.

    2) We indeed found a result matching this broker in NFA's registry, however, Rong Hui is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Rong Hui doesn't satisfy these conditions. 

    All evidence clearly states that this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

    Rong Hui claims to be owned and operated by RONGHUI GROUP CO., LTD, a regulated broker in the US by two financial authorities, including FinCEN under MSB license number 31000209641672, and NFA under NFA ID 0546757. However, despite its claims, this broker doesn't fall under valid regulation for the following reasons. 1) FinCEN does not regulate forex markets nor does it issue licenses for brokers engaging in such activities.2) We indeed found a result matching this broker in NFA's registry, however, Rong Hui is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Rong Hui doesn't satisfy these conditions. All evidence clearly states that this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

2 comments

Lin Yuting
出金速度非常快
2022-09-14
Reply
Lin Yuting
很好用
2022-09-14
Reply
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