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RontoXM Review | Trading of Various Assets Anytime, Anywhere or a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
RontoXM - logo

Unlock the potential of seamless profit generation through simplified execution of complex market operations” – that’s the introduction to RontoXM, a brokerage firm promising trading of various assets anytime, anywhere. However, they offer scant details about themselves, leaving users in the dark about their launch date, licensing, or business model. With few online reviews available, it’s challenging to gauge their credibility. So, is it a potential scam? That’s a question we’re looking to answer.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://rontoxm.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@rontoxm.com
📞 Phone +34 633756089, +34 828807698

First Impression of Rontoxm.com

The official website is in Spanish by default, but there’s an English translation. However, this translation is only partial, as even in the English version, there are texts in Spanish. It feels as if RontoXM has been translated into English just for the sake of having it. The design is also laughable and puzzling. One is greeted by a cartoonish dawn, and that’s essentially all there is, nothing else of interest or uniqueness.

RontoXM - site

Overall, RontoXM hasn’t put much effort into creating a quality website. Instead, they’ve provided traders with a generic site filled with meaningless text, complete opacity, and the absence of any specific details or facts about the company. In short, the firm failed to even create a decent and informative website.

Partnership and Bonuses

RontoXM offers traders the opportunity to become partners by participating in their affiliate program. To do this, one needs to apply on their official website. Unfortunately, specific terms and conditions are not disclosed. It is also unclear if the broker offers any bonuses, as this is not mentioned.

Account Opening on Rontoxm.com

To get more familiar with the broker, it’s necessary to create an account. This process is quite standard and requires providing one’s name, email address, phone number, and password. Also, RontoXM notes that by registering, a user automatically agrees to all the terms.

Registration

Once successfully registered, the dashboard interface opens, integrating the trading platform. This setup is genuinely inconvenient. It would be far more comfortable and practical to separate the terminal and the dashboard. Notably, there was no need to verify the email address or phone number, which poses a significant security concern for RontoXM. Furthermore, the broker doesn’t offer a demo account, meaning any platform testing would require real funds. It is a substantial drawback.

The personal cabinet allows you to perform the following actions:

  • Track current positions and balances.
  • Deposit funds and create withdrawal requests.
  • Edit personal data.
  • Upload documents for KYC.
  • Change the color theme from dark to light.
  • Explore navigation guides in the account.

Verification

Before topping up the deposit and starting trading, one needs to undergo verification. In other words, the KYC procedure here is mandatory. Documents are uploaded in the personal account in the relevant section. There, the file parameters and type of document are described. It’s noteworthy that the PDF file explaining the AML&KYC policy at RontoXM is presented exclusively in Spanish.

Pros
  • The process of uploading documents is convenient.
Cons
  • The client needs to provide a photo of their bank card.
  • AML&KYC document in Spanish only.

Trading Software

RontoXM’s trading platform is presented as a basic and primitive WebTrader, which can be launched from any browser, even from a mobile device. The company mentions mobile phone support, but we didn’t find a separate application available for smartphone downloads.

Terminal

The platform’s functions and features include multiple timeframes, various types of charts, indicators, tools for technical analysis, and multicharts modes. Additionally, the platform supports social trading and trading signals. It’s hard to call such software advanced and professional. RontoXM has provided a low-functionality terminal, not suitable for comprehensive and serious trading. Why not offer traders a popular alternative?

Features RontoXM Global ICM  Infinity Markets
Demo Account
Mobile App ✔️
Own Development ✔️

How Can I Trade With RontoXM?

Traders have access to a wide range of asset classes: forex, metals, indices, cryptocurrencies, stocks, and commodities. Moreover, RontoXM offers a leverage ratio of 1:400 to amplify trading volumes. The list of services and conditions depends on the selected account type, which we will explore further.

All Info About Accounts

RontoXM provides five account types, each with a substantial minimum deposit. Remarkably, despite the English version of the website, account type descriptions are only available in Spanish. The first account tier, named “Silver”, requires a $5,000 deposit, which is relatively high for a forex broker. It’s also worth noting the absence of a demo account option. The “Silver” type includes 24/7 customer support, signal indicators, personalized expert advice, market analysis, and news. However, no additional explanations are provided, such as specifics about the indicators, how they operate, the historical profitability of the signals, or the nature of the expert advice.

Account types

The second account type starts at $21,000, and the third at $51,000. The logic behind the minimum deposit for subsequent tiers is clear. The company is coercing more money from clients by offering them an array of additional services. This tactic is often employed by scammers eager to extract a larger sum from traders. On the pricier tiers, RontoXM offers improved withdrawal conditions, assistance from seasoned specialists, and other features that aren’t particularly noteworthy. Few would likely be inclined to invest such substantial amounts in an obscure organization.

Upon assessing the trading conditions, several drawbacks stand out. Firstly, the high minimum deposit of $5,000 and the absence of a demo account option. Secondly, the 1:400 leverage ratio suggests a lack of financial oversight by regulatory bodies. Thirdly, there’s an evident money-grabbing approach by RontoXM. Lastly, there are hidden fees and spreads, as well as the lack of an Islamic account option.

Pros
  • None.
Cons
  • Very high initial deposit requirements.
  • You can’t try a demo.

Market Analysis and Education With Rontoxm.com

Clients can take advantage of the broker’s educational academy, which delves into topics such as financial markets, cryptocurrencies, technical analysis, types of orders, and fundamental analysis. Additionally, RontoXM offers live quotations on its website sourced from the TradingView service.

Deposit, Withdrawal, and Fees

Deposits and withdrawals on RontoXM can be executed using credit/debit cards, bank wire transfers, cryptocurrency, and e-wallets. The minimum withdrawal amount is set at $100. The broker pledges to process withdrawal requests on the same day they are submitted or the following day if submitted outside business hours. For inactive accounts, the company charges a 10% fee based on the balance amount, but not exceeding $49.9. However, transaction fees are not clearly outlined.

Features RontoXM ModMount Ltd  CauvoCapital
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

Reaching out to RontoXM’s management is possible through various channels: email and phone. Additionally, there’s an online chat feature available in the user dashboard, as well as WhatsApp and a dedicated form for submitting feedback or inquiries.

Upon verifying the provided contact details, it became evident that the given email address doesn’t even exist. Whether the phone numbers are operational and legitimate remains a pertinent question.

Fake email

Pros
  • There’s WhatsApp.
Cons
  • The email is fake.

Is RontoXM Dangerous?

It’s unlikely that a legitimate broker would provide a fake email. Nor would a customer-centric company demand a minimum deposit of $5,000 and conceal crucial trading conditions. All these factors are severe shortcomings and significant red flags. To arrive at a final judgment, we must scrutinize the licenses of RontoXM and examine its duration of operation.

How Long Does The Broker Work?

The inception date of this platform remains elusive as the website offers no details about its founding. Notably, it is another glaring red flag. Any trustworthy and legal entity would readily share its registration documents and operational history. So, when was RontoXM established? It can be determined by the domain registration date, which is recorded as July 2023. This timeline aligns with the company’s apparent brief existence.

Domain

How Is RontoXM Regulated?

It’s worth noting that the broker’s official site lacks any legal address, not even specifying a country. Another significant shortfall and clear warning sign. Given the site’s Spanish translation and Spanish phone numbers, it can be surmised that RontoXM might be based somewhere in Spain, making it worthwhile to investigate licensing there. In Spain, the CNMV (Comisión Nacional del Mercado de Valores) overseas forex companies. However, no mention of this broker was found in their records.

Regulation

Consequently, it seems we’re dealing with an unregulated company. The extreme evasiveness of RontoXM is evident, as the site lacks any legal address, registration documents, or licenses.

Features RontoXM Finorax FxPro
European Zone ✔️
Asian Zone
American Zone
African Zone ✔️
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With RontoXM?

First, one needs to register an account on the website. Following that, one must upload documents to undergo the KYC procedure. Only after a successful verification can one proceed to fund the deposit. It's worth noting that a demo account is not available here.

Is RontoXM Legit?

No, the broker operates unlawfully. The firm has not acquired any licenses.

How Risky Is It?

There's a guaranteed 100% risk. Companies like RontoXM are illegal and fraudulent, so any thoughts of earning and withdrawing funds should be dismissed.
Kevin Berry
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Expert Opinion

Would anyone agree to invest a minimum of $5,000 in a brokerage company that doesn’t disclose its location, fails to provide legal documents, and lacks a license? I hope not. There’s no doubt that we are dealing with a classic scam broker here. It’s some obscure entity demanding $5,000 without even explaining its commissions and spreads. It’s essential to realize that they operate on a dealing desk business model, which means a direct conflict of interest. A demo is not available here. Are there any positives about RontoXM? Not a single one. Stay away from this pseudo-broker, as you’re sure to lose all your money.

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RontoXM 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

3 reviews about RontoXM

So_Close October 5, 2023 - 10:02
They are scammers!!!
The level of trust

Scammers, return the money! You promised one thing, but the reality is entirely different. The conditions are abhorrent, but that’s not the main issue. I’ve been unable to withdraw my money for over two weeks. FRAUDSTERS! GIVE THE MONEY BACK!!

Reply
Warrior666 October 19, 2023 - 17:48
Can't withdraw money
The level of trust
Quick withdrawal of funds

The withdrawal mechanism at rontoxm doesn’t function. I’ve experienced it firsthand. I’d advise not even opening a brokerage account here, as it’s pointless. I invested $6,000 into this platform. However, I can’t retrieve my money. I made the transfer using cryptocurrency, which only exacerbated the situation. Trading on rontoxm both successfully and consistently is impossible because the trading platform lacks proper functionalities. Furthermore, the trading conditions are rigged to ensure traders lose their deposit. Astronomical spreads, exorbitant commissions, and continuous technical glitches with the platform make stable, relaxed, and comfortable trading a dream. Even in forex, the spreads are huge. Even on the EUR/USD currency pair. But the principal issue is the absence of a money withdrawal option. The broker turned out to be a scammer.

Reply
GucchiMane October 23, 2023 - 00:19
It's a scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

It is a scheme targeting those gullible enough with money, ready to part with 5k dollars. RontoXM is undeniably a fraud site. Moreover, you can’t even label this as a “company” because, in a legal sense, the firm isn’t registered. Can you find their legal address on the website or any documents? I can’t; they simply don’t exist. So, we’re merely looking at a standard website with a pseudo-platform featuring fake charts. Don’t expect any form of trading here. In all likelihood, it is a classic fraud trap where you can deposit money, but retrieving it becomes impossible.
I see through these scam brokers. They are fraudsters and criminals who set up their fake brokerage platforms to con people out of their money. In short, it’s all a scam. What more is there to say about it?

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