RubyMarkets is not a reliable broker for traders even though it states offers that look good to be true. RubyMarkets claims it was established in 2000 and quickly grew to become one of the world's renowned brokers. But when we checked its domain, we found it was created in 2019. So how could it start its business in 2000? It is a red flag here.
Besides, RubyMarkets claims to be registered with the Companies House of the United Kingdom (CH) with registration number: 12396596. We do find a match result to RubyMarkets in CH. However, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. Having registration does not mean having any regulation.
As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. However, we did not find any match results to RubyMarkets in FCA. That means RubyMarkets is not an approved broker in the UK.
More importantly, RubyMarkets also claims its regulation by the US National Futures Association (NFA) under an NFA ID: 0547124. When we searched in NFA, we found this broker is not under valid regulation by NFA since it is not an approved member of this regulator. The truth is that RubyMarkets is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
RubyMarkets is not a reliable broker for traders even though it states offers that look good to be true. RubyMarkets claims it was established in 2000 and quickly grew to become one of the world's renowned brokers. But when we checked its domain, we found it was created in 2019. So how could it start its business in 2000? It is a red flag here.Besides, RubyMarkets claims to be registered with the Companies House of the United Kingdom (CH) with registration number: 12396596. We do find a match result to RubyMarkets in CH. However, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. However, we did not find any match results to RubyMarkets in FCA. That means RubyMarkets is not an approved broker in the UK.More importantly, RubyMarkets also claims its regulation by the US National Futures Association (NFA) under an NFA ID: 0547124. When we searched in NFA, we found this broker is not under valid regulation by NFA since it is not an approved member of this regulator. The truth is that RubyMarkets is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
