RannForex offers only one account option – with leverage up to 1:100, trade micro tradeable lots, and floating spreads. Allegedly the broker provides an ECN pricing model, which features commission fees.
The offerings of RannForex seem really attractive: you can start trading with a couple of bucks and use tight spreads and comparatively low commission fees on the popular MetaTrader 4 platform. However, keep in mind that the quotes on the website also include maximum spreads, and for the EUR/USD pair it is 6.6 pips.
The broker does not offer demo accounts, so we could not test its services. Nonetheless, we doubt that the average spreads are really that low. Most brokers offer spreads within the range of 1.0 – 1.5 pips for EUR/USD and some of the biggest and the best, like IG, provide lower spreads.
The Company. Security of Funds
Rann FS Limited
A newly-launched forex and CFD broker, RannForex is the brainchild of Dmitriy Rannev – a well-known figure in the Russian Forex market. He is a CEO at fintech company AMTS solutions and former CEO of Alpari and at GKFX.
RannForex commenced operations in the end of August 2017, although the company and the domain name were registered back in 2013. The broker uses AMTS solutions technology, Admiral Markets’ liquidity and MTrading’s MetaTrader 4 platform.
The company behind the brand, Rann FS Limited, is registered in the Seychelles – a popular offshore forex destination where brokerages are in fact not regulated, nor supervised by any agency. Although Mr. Rannev is behind the RannForex project, this is not enough to ensure a fair trading environment.
We keep reiterating that financial regulation is very important when choosing a forex broker. Trading with offshore brokers is very risky for a number of reasons and we generally advise traders to select among brokerages licensed in Cyprus, UK or Australia for instance, where traders have certain level of security and protection.
As we have already mentioned, this broker offers MTrading’s MetaTrader 4 platform, available as desktop and mobile versions.
MT4 offers all a trader needs: ease of use, numerous order types, a wide range of technical indicators, extensive back-testing and advanced charting tools. The platform is especially valued for its algo trading strategies, a.k.a. Expert Advisors (EAs) that allow users to automate their trades.
Methods of Payment
Payment methods with RannForex are the following: creadit/debit cards, bank wire transfer, and e-Payments such as WebMoney, Yandex Money. Cryptocurrencies are also accepted, but it is not indicated which ones.
Keep in mind that the minimum amount to be transferred via bank wire is $500.
A project of by Dmitriy Rannev, RannForex is a newly-launched Russian forex and CFD broker. It offers a low-cost ECN trading model, but does not hold a valid forex broker license.
RannForex Review Conclusion
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