The Swiss regulator FINMA has issued a warning that the forex broker Ridge Capital Markets, operating through the website rdgcm.com is not registered in Switzerland.
According to the regulator, the broker has domiciles in London, Zurich and the capital of Dominica, Roseau.
The broker’s website provides information that it is operated by R.D. Group Limited, with an office in Roseau. An SMN check in Dominica’s Companies and Intellectual Properties Office registry revealed that there is indeed such company, registered on June 1, 2015. There, however, is no regulatory information whatsoever.
Ridge Capital Markets offers trading in forex, CFDs, stocks, futures, options, commodities and other derivatives. The available trading platforms are MetaTrader4 and cTrader and cAlgo, including the cMirror feature. The minimum required deposit is $500 and the leverage is up to 1:500. The broker also offers Islamic trading accounts with no swaps and roll over charges. Ridge Capital Markets also has an Introducing broker and white label programs.
The Swiss watchdog FINMA is the first to put this broker on its warning list of unregistered entities. Earlier in March it warned of another unregistered forex broker – Trading Banks.