Note: R&Y's official website: https://www.r-yltd.com/ is currently inaccessible normally.
R&Y Information
R&Y is an unregulated forex broker who is allegedly based in Hong Kong and targets mainly Chinese investors. Its product offerings include commodities, cryptos and other CFDs. If offers the industry flagship trading platform-MetaTrader 5.
Is R&Y Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
Downsides of R&Y
Unavailable website: R&Y's website cannot be opened currently.
Regulatory concerns: The company operates under no valid regulation, meanig that it does not necessarily comply to industry rules. This heightens trading risks with them.
Lack of transparency: The broker does not openly reveal info on trading conditions.
Market Instruments
R&Y provides access to a diverse array of financial instruments such as Indices, Commodities and CFDs, etc.
Indices: Indices represent a group of stocks or other securities, providing a benchmark for market performance and allowing investors to track overall market trends.
Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, including physical assets like precious metals, energy products and agricultural products, etc.
CFDs: Financial derivative that allows traders to speculate on the price movement of assets without owning the underlying asset, enabling profit from both rising and falling markets.
Always follow the rule of investment and scatter risks by putting money in different products instead of only one that you are optimistic about.
Trading Platform
R&Y seems to provide the widely-recognized MetaTrader5 platform for trading. The platform is renowned for its intuitive interface, in-built charting tools and in-depth market analysis.
However, the broker does not provide demo accounts on this platform. And no trading conditions can be found unless the tester opens a live account and provides a copy of ID and bank card right upon sign-up. Traders who decide to trade with this broker should be cautious about personal data leak when registering an account.
Customer Support
R&Y can be only reached via email, and telephone. And the funny and ridiculous thing is that the telephone it provides does not show an area code, which is useless info in another word.
Conclusion
In summary, R&Y is a Chinese broker locates in Hong Kong and mainly targets Chinese investors. However, its website is inaccessible so traders can get very limited information about its background and trading conditions. The absence of regulation further impairs its legality and reliability. Thus, you should seriouly reconsider before you choose this broker to trade with.
