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Alert! Be aware of Unlicensed FX Broker Raiffeisen Centrobank

2022-10-17 Brokersview

Despite its growing popularity, investment in the currency market poses scam threats due to increasing numbers of non-regulated brokers. While authorities keep cautioning investors to stay alert to fraud entities, investors also need to take due precaution to avoid falling prey to scam brokers like Raiffeisen Centrobank


Raiffeisen Centrobank- Review

Raiffeisen Centrobank ( was an offshore broker registered in the Marshall Islands (Company name: Sucaba Enterprise Ltd). But the registration has been annulled. The company has been around serving around since 2018. Besides claiming to be a traditional bank, the broker extends its services to the retail trading industry and lists multiple assets across various financial markets. While the broker doesn't offer any third-party trading platform, clients have the company's in-house proprietary trading platform at their disposal. 

Is Raiffeisen Centrobank Regulated?

No, Raiffeisen Centrobank is neither registered nor regulated anywhere. The company hasn't listed any information on its official website about its regulatory status either. 


Clients feedback

Raiffeisen Centrobank holds a poor reputation among investors. Like other scam entities, the broker receives critics amid withdrawal issues. Clients have also accused the company of delayed order executions and poor customer support.

What Makes Raiffeisen Centrobanka Scam Broker?

First, the broker's contact page does not include its address. That's a red flag of fraud or a low-quality broker. It might also discontinue providing traditional means of contact such as email, and phone. 

In addition, the operator of the site, Sucaba Enterprise Ltd, has also been blacklisted by the Italian Securities and Exchange Commission (CONSOB) and the Austrian Financial Market Authority ( Austria FMA) for providing financial services without authorization.

Moreover, the broker appears to have changed its domain name from "" to "" which has even further sparked allegations that it is a fraudulent entity worry.


How Scam Brokers Like Raiffeisen Centrobank Fool Around People?

Forex trading scams can adopt the same sales tactics as a legitimate broker or financial services organization. They sometimes pretend to be registered with a government body that has no authority over forex businesses, such as SVGFSA and IRI, etc. 

When clients set up an account with such brokers, they start following them immediately and ask for a deposit. No matter how many times you refuse, they keep persuading you to fund your account and make false promises of unrealistic returns over a short period. However, you may see their true face once you make deposits. Besides never answering your phone calls or replying to your emails, they sometimes block access to your trading account. 


What to do If I have deposited funds with Raiffeisen Centrobank?

The absence of regulations accompanying poor customer feedback makes the broker a high-risk investment firm. You should immediately place a withdrawal request with the company since you can't trust it with your hard-earned money.


Bottom Line:

The increasing prevalence of fraudsters operating within the forex market has led some traders to lose faith in the industry. However, many legitimate brokers offer excellent trading services besides being fair and transparent.

As a prudent investor, you need to take necessary precautions before signing up with an entity such as checking a broker's regulation status with a concerned regulator and reading clients' feedback on independent reviewers' websites like Brokersview