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Rich Premium Rx Review | The most powerful platform or a Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 6
Rich Premium RX - logo

“The most powerful platform with the best service” – Rich Premium Rx doesn’t shy away from singing its praises, boasting loud and clear about its success. However, behind self-promotion, there may be something more sinister at play. Is this just the mask of an earnest broker, or does it conceal the rot of scams and fraudulent schemes? With conflicting reviews and no discernible licenses, and with offices tucked away in Singapore and the UAE, it’s our task to peel back the layers and find out: is this a deceiver in disguise or an honest broker?

Highlights

🏛️ Country Singapore, United Arab Emirates
⚠️ Regulation
🖥️ Website richpremiumrx.com
🎲 Demo Account No
⏳ Start Time 2021
💲 Minimum Deposit £5,000
⚖️ Minimum and Maximum Leverage 1:2-1:100
⚙️ Trading Platform EasyTrader
📨 E-mail cs@richpremiumrx.com
📞 Phone +61243258057

First Impression of Richpremiumrx.com

Upon landing on the official website of Rich Premium Rx, you’re greeted by a picturesque landscape of a city backed by mountains. As you scroll through the homepage, images begin to unfold: a gathering of people, platform screenshots, and a supposed successful trader sipping coffee while eyeing charts on a laptop and tablet.

However, the Rich Premium Rx’s website reeks of cheapness, a feeble attempt to convey the image of a serious and seasoned broker. The design is simple and unembellished, painted in white and blue shades, and the images are plucked from a standard search engine. It’s a typical template site, indistinguishable from hundreds of its kind, failing to impress or stand out in any way.

Rich Premium RX - official site

Partnership and Bonuses

Rich Premium Rx doesn’t seem to offer any affiliate programs or bonuses. However, a closer look at the homepage under the section “The benefit of trading with us” reveals some vague descriptions of privileges and rewards aimed at encouraging clients. These bonuses are alleged to be linked to trading volume and the number of active months. It appears to be a loyalty program, but the details are sketchy at best. There’s no concrete information, only a fleeting mention, leaving you to wonder what’s really behind the offer.

Account Opening on Richpremiumrx.com

You won’t be able to register an account with Rich Premium Rx simply because there’s no registration button on the site. All you’ll find is a “Login” option; the “Registration” button is nowhere to be found. Despite this, there are online reviews of people who have worked with the broker, and some continue to do so. That begs the question: “How did these people manage to register an account?”

It’s possible that you must first contact a manager to have a personal account created. Admittedly, this practice is filled with absurdity. Most would prefer to first register a broker account on their own, rather than get entangled with a manager. The lack of a straightforward registration process raises red flags and leaves a lingering suspicion about the authenticity and professionalism of the Rich Premium Rx.

Verification

The company has dedicated a section on its site to “AML, CFT and KYC,” indicating two main things: first, that verification is mandatory, and second, that it’s standard and similar to what other firms require. The straightforward approach to verification brings some level of transparency, although it doesn’t set Rich Premium Rx apart from others in the industry.

Pros
  • The process is described in detail.
Cons
  • Requires you to take a picture of your bank card.

Trading Software

Unlike some firms that create a separate section to explain their trading platform, Rich Premium Rx chooses to incorporate information into its main website page. And you won’t find a way to test it practically through a demo account. The platform’s description promises all the necessary tools and the ability to download on PCs or install on Android/iOS mobile phones. Links and instructions for downloading are provided, directing to Google Play and AppStore. Called EasyTrader, the platform comes from the developers at Easy Technologies.

We won’t delve deep into the software of Rich Premium Rx. A glance reveals a disappointing scenario on Android with just 10,000 downloads and an average rating of 1.2 points. The situation on iOS seems slightly better, but not significantly so. In any case, the terminal doesn’t come close to the popularity and capabilities of well-known platforms like MetaTrader.

Features Rich Premium Rx GoldberryCo  Nublu Investments Limited
Demo Account
Mobile App ✔️
Own Development

How Can I Trade With Rich Premium Rx?

Rich Premium Rx offers traders truly unforgettable conditions, the kind that makes your eyes bulge and your hair stand on end. Get ready to see for yourself what makes this offer so astounding.

All Info About Accounts

Rich Premium Rx offers seven different tariff plans. The initial account type is available only with a deposit starting at £5,000, and additional services include a 5% commission fee and technical support. We would love to look into the eyes of the person who concocted this scheme. Not only is the minimum deposit astronomical and unrealistic, but the client also gets virtually nothing in return. Technical support should be a given for everyone, not a special feature. And what’s with the 5% commission? Is it for trades or deposit/withdrawal operations? Either way, it’s a hefty percentage.

Account types

The tariff plans of Rich Premium Rx are anything but reasonable or rational. The next package, named “Basic,” starts at £10,000, and all you get is a training program, a personal manager, and, oh yes, a reduced commission down to 4.5%. WOW. If you compare “Basic” to “Micro,” the difference is indeed substantial, and we agree. But when you compare “Advanced” to “Basic,” the only difference is a 0.5% commission. What’s the point of activating “Advanced,” which requires a deposit 2.5 times larger, when there’s no apparent benefit? The broker offers some downright ludicrous conditions. The “Micro” tariff with a minimum sum of £5,000? What novice trader could afford that? We could understand it if we were dealing with a renowned, established, and popular company. However, Rich Premium Rx is completely unknown.

Pros
  • None.
Cons
  • Extremely confusing conditions.
  • High initial deposit.
  • Important parameters are not specified, such as the size and type of spreads.

Market Analysis and Education With Rich Premium RX

Rich Premium Rx doesn’t offer free educational materials, analytics, or additional services like online quotes, heat maps of assets, or an economic calendar. Every service is accessible only after opening a brokerage account and funding the balance. Depending on the selected tariff, clients receive signals, assistance from managers, a personal analyst, a training program, and market reports. This paywall for essential trading tools and information seems less about providing value and more about pushing various price points. It can easily give the impression that a broker is more interested in profit than empowering its clients.

Deposit, Withdrawal, and Fees

Regarding depositing or withdrawing funds at Rich Premium Rx, the information is mysteriously absent. The broker keeps these details shrouded in secrecy. Again, we must mention a puzzling 5% commission, referred to in the tariff descriptions, but without any clarification as to what this fee pertains to. Furthermore, if an account remains inactive for three consecutive months, a monthly charge of $50 will be deducted from the balance.

Features Rich Premium Rx Royalzysk GoldNrise
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee ✔️
Withdrawal Fee ✔️

How Can I Contact It?

For communication, Rich Premium Rx provides a phone number and email address, both of which are indeed real. Additionally, website visitors can send a message to the company via a special form. Though we found nothing overtly suspicious in the contact details, the presence of an Australian phone number stands out as odd, given that the broker’s addresses are in the UAE and Singapore. So, where are the hotlines for these countries, and where is the address in Australia?

Pros
  • Contact information is not fake.
Cons
  • An Australian phone number is listed, but there is no office in the jurisdiction.
  • Missing contact details from Singapore and UAE.

Is Rich Premium Rx Dangerous?

Up until now, Rich Premium Rx hasn’t raised any particular suspicions. Yes, the terms are, to put it mildly, outrageous, but that could have been a specific policy dictated by the firm’s leadership. Now, let’s delve into the most crucial details that will uncover the whole truth about the broker.

How Long Does The Broker Work?

The company’s operating time is a vital aspect of any broker. Rich Premium Rx fails to specify when it was founded, leaving us to seek this information through other means. The domain was registered in October 2021 and updated in October 2022. We couldn’t find snapshots in the web archive, but most reviews seem to date back to 2023. It’s plausible that the company’s website was indeed created in 2021, but they only began offering brokerage services in 2023. Either way, even if we take October 2021 as the actual founding date, it’s a short and insignificant period of operation. Moreover, the leadership’s lack of transparency regarding specific dates is another negative factor.

How Is Rich Premium Rx Regulated?

Let’s attempt to unearth some information about the regulation of Rich Premium Rx. In Singapore, no trace of such an organization can be found. Checking in Dubai seems futile, given the existing evidence of deceit and misinformation.

No licence

We also checked with ASIC to see if the company was listed, but it turned up nothing. In the end, it seems the broker hasn’t obtained any licenses. This points to illegal activity.

Features Rich Premium Rx Lig Broker TradinBull
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

As an experienced trader, I wouldn’t even consider venturing here. Rich Premium Rx is a standard fraudulent, fake, and pseudo-broker, masquerading as something safe and reliable. Even if you disregard the fundamental signs that this is a scam, the ordinary terms offered by the company are repelling and don’t foster any desire to try out their service. Complete anonymity, and blatant deceit – these are not the traits you want in a brokerage partner when you choose to trade in the financial markets.

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Rich Premium Rx rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

6 reviews about Rich Premium Rx

Marshall July 25, 2023 - 16:29
Did not like it. I think rich premium rx is just a fraud
The level of trust

I was thoroughly unimpressed with the rich premium rx platform. There’s no demo account, and the terminal from Easy Technologies is very raw, poor, and lacks functionality. They demand a minimum deposit of $5000, yet they offer nothing of substance. They don’t mention anything about a license or their operating period, and their reputation online is mediocre at best. I don’t recommend them.

Reply
Ken August 4, 2023 - 21:02
You can't trade with Rich Premium Rx
The level of trust

It’s rumored that this is neither the first nor the last project of serial scammers who create identical broker sites with the intent to scam people. Rich Premium Rx is a prime example of a scambroker. It’s simply plain fraud. Traders find their accounts blocked and the company refuses to withdraw their money. This is not surprising at all. Even a glance at the site is enough to draw a conclusion about the fraudulent and fake activities. The absence of a license is one red flag; the unspecified operational period is a second; the lack of legal documents is a third; fake addresses in Singapore and the UAE are a fourth; terrible conditions are a fifth. And it is just a cursory look; what if one digs deeper? Rich Premium Rx’s user agreement is presented over 50 or more pages – who will read it? Moreover, in this user agreement, there are many clauses where clients are blamed and held responsible for all problems that occur during trading, while the broker is conveniently exempt from guilt.

Reply
Messi August 9, 2023 - 08:55
Very suspicious!
The level of trust
Efficiency of technical support

I don’t know how long the company has been operating, but I can’t even attempt to register an account. I’m slightly baffled by the fact that there are reviews where traders comment that they have already traded with Rich Premium Rx. But how did they do it? How do I register an account? Do I need to call the call center to apply or have them create a personal account for me? If that’s true, then such a condition is nonsensical and illogical. I want to simply register and see what’s inside, how it’s structured. I don’t want to deal with some manager who will undoubtedly use our conversation to swindle me out of money.
By the way, since we’re on the topic of reviews about this evident scam, I must note that the internet is full of fake positive reviews about the company. Why fake? Because the reviews are identical, only 1-2 lines long, meaningless, and lacking in specifics. It’s easy to see with the naked eye.

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Charlie August 14, 2023 - 12:20
SCAMMER ALERT! FRAUDULENT WEBSITE. FAKE BROKERS AND TRADING PLATFORM
The level of trust
Quick withdrawal of funds
Efficiency of technical support

lure you in. apply pressure to put more money in. groom you into believing they’re helping you and all the while they’re trading on a fake platform. They tried to lose our “investment” to force us to put more money in to prop up the bad trade they made. Once we asked for our money back we were handed over to a third scammer who tried to get us to put more money into an account and so they could move the money back into a crypto account. hey use DocuSign docs to make them look legitimate.

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Bamboo November 23, 2023 - 14:56

This company is just a scam company. Defrauds you out of 1000’s of dollars with a fake trading platform full of false numbers and profits. Then when you ask them to close your account and refund money,they try to con you into paying more money as a withdrawal charge. Defrauded me out of $20,000 aud. And now refuses to return anything. Conned into signing a contract for a credit of euro €10,000 and say they won’t release anything until I clear the advance credit. I will pay them when hell freezes over!!

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Wiskers74 December 3, 2023 - 19:49
Fraud
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I have been using Rich Premium Rx to invest for several months, when they wanted me to increase my initial investment capital by $1500 usd i explained that until i could afford to invest more it would have to stay as is. Unfortunately Joseph Schmidt didn’t see it that way, and they added $1500 to my account and forced me to sign for it or lose all my investment, and that no withdrawals could be made till the credit line was paid back. Joseph told me that when credit was paid off then the account would be returned to normal and withdrawals could be taken.I have since paid the credit off at great cost to me, they did as they said the credit was removed and account was active. So I did ask for $1500 withdrawal to put my finances back to normal, have not received any communication with Joseph about this withdrawal or anything else related to this investment, and the web site is unreachable now. So My advice is if you can get your funds out of Rich Premium Rx do it now or you may never see any money. If your thinking of invested please reconsider using this site.

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