|Saint Vincent and the Grenadines
|Operating since year:
|First Floor, First ST Vincent Bank LTD Building, James Street, Kingstown VC0100, St. Vincent and the Grenadines
|The Trading platforms:
|Trading platform Time zone:
|Other trading instruments:
- General Information & First Impressions
- Fund and Account Security
- The Trading Accounts
- RevolutExpert’s Trading Platform
- Funding and Pricing
- Trading Products at RevolutExpert
- Customer Service at RevolutExpert
Broker Review: RevolutExpert – General Information & First Impressions
RevolutExpert is a new brokerage service that aims to attract mid-budget investors. It offers trading and investing services on a variety of assets, with a primary focus on forex. RevolutExpert’s offices are in Saint Vincent and the Grenadines, exactly at First Floor, First ST Vincent Bank LTD Building, James Street, Kingstown. RevolutExpert has flown under the radar so far, and there’s not much information regarding its services online. That’s why our RevolutExpert review will tell you all you need to know about the broker.
The first thing you can see when you visit revolutexpert.co is how eager it is to promote itself. Now, all brokers promote themselves on their web pages, and that’s entirely normal. But few go to the extent RevolutExpert does. That’s worrying because it indicates that the broker isn’t quite content with the service it provides. It also means it’s ready to use underhanded tactics to attract customers.
So right from the start, RevolutExpert doesn’t leave a good impression on safety or service quality. Even if you look past the eagerness to promote itself, the broker’s website is confusing and difficult to navigate. Finding things you need to know is a chore, and that’s if the broker even bothered to write them. As such, RevolutExpert seems to try and attract newbies who don’t know what to look for.
In other words, even at first glance, RevolutExpert looks like it’s a bit underhanded. That’s quite dangerous, as first impressions for brokers are usually correct. Later in our RevolutExpert review, you’ll find out more about that.
Fund and Account Security
We already talked about the poor initial safety impression that wasn’t so great. Now it’s time to go more in-depth about that and why exactly RevolutExpert’s safety is so concerning. First we’d like to say that the broker isn’t regulated, so its safety relies entirely on its trust rating.
And that trust rating is horrible, at least from what we were able to see. As we said earlier in our RevolutExpert review, it’s quite eager to put up deceptive information to lure customers. For example, it puts its client and trading volume info right below its banner on its homepage. Those numbers mean very little in practice, and can quite easily be forged. Beyond that, there’s the fact that the broker promotes itself on every corner. It has a “best platform” button instead of it saying trading platform or something similarly neutral.
Those aren’t isolated incidents either; the entire website is set up like a massive advertisement. And advertisements are known for leaving out unflattering details about what they’re promoting. RevolutExpert does exactly that, only showing its best features and hiding anything that’d be unflattering.
The thing is that brokers that hide things from customers are shooting themselves in the foot. The desired effect is that they come of better than their service and user experience actually are. Instead, we can just call RevolutExpert a scam and not be too wrong. Naturally, accusing a brokerage of being a scam requires its transgressions to be a bit more severe. However, revolutexpert.co isn’t too far from that, with poor user impressions and obscure details.
The Trading Accounts
RevolutExpert’s accounts start at $1,000, which is quite a bit higher than the usual $250. That means its service should justify the increased deposit requirement, but that doesn’t seem to be the case. Namely, RevolutExpert’s accounts artificially stifle the service for all options but the most expensive one. That’s an apparent attempt to goad users into investing more.
For example, the broker limits maximum order sizes depending on account types, which is just an inconvenience. Furthermore, it refuses to keep your transaction history for longer than two weeks if you’re using the $1,000 account. It intentionally bothers users so that they’d feel necessitated to upgrade to further account types.
There’s no need to explain how that makes the customer experience much worse than it could’ve been. It also lowers the already low trust rating from earlier in our RevolutExpert review even further. And that’s not even mentioning that the broker doesn’t have any crucial information regarding accounts on its website.
RevolutExpert’s Trading Platform
One thing that RevolutExpert managed to do right is to pick a solid trading platform. It uses MetaTrader but doesn’t indicate whether it’s MT4 or MT5, which is ridiculous. So the broker didn’t even do the simplest thing entirely right and only went halfway. As for the platform itself, most of you already know MetaTrader (4 or 5) for its intuitive UI and potent analytical capabilities. RevolutExpert doesn’t manage anything about a web or mobile version, but we assume it’d be at least smart enough to include them.
Funding and Pricing at RevolutExpert.co
The broker has a bonus tab that undoubtedly serves to make traders think the broker has promotions. However, it actually contains a “bonus” of free deposits, which a massive majority of brokers already have. There, they use an example of a 7% deposit fee, which the broker would nullify. So the fees at RevolutExpert might be as high as 7% on deposits once the broker runs out. Needless to say, that’d be insane, and you’d be hard-pressed to make any money with that sort of pricing.
On the other hand, it’s possible that the broker simply used that number as an example to make it seem like they’re relieving you of a huge burden. No matter the case, the broker doesn’t have its actual pricing structure anywhere. You could’ve expected that already, as it seems to be a recurring theme with RevolutExpert.
Trading Products at RevolutExpert
RevolutExpert has about 1,250 assets in its selection, as the broker itself states. It’s not a massive selection, but it’s not too shabby either and might just be the highlight of revolutexpert.co. It’s quite sad that something so easy to accomplish might be the broker’s best feature. The broker also lacks any cryptocurrency options, which might be a turnoff for modern investors.
Customer Service at RevolutExpert.co
RevolutExpert seems to be unsure when its own customer service representatives work. The website shifts between 24/5 and 24/7 on numerous instances. However, when you open the dedicated contact page, it turns out the work time is Mon-Fri: 9:00 – 19:00. That’s just another instance of the broker attempting to deceive customers, which isn’t even surprising at this point.
RevolutExpert isn’t a brokerage we would recommend to anyone. It’s quite apparent that the broker is up to no good, and online impressions reflect that well. There are numerous safety concerns that ruin any potential that the broker had. And even that potential is pretty underwhelming, with the broker only having two passable trading conditions. That means the only things that are alright trading-wise are the platform and asset selection.
Even the things that are alright aren’t great, and there’s a ton of horrible features to drag them down further. RevolutExpert doesn’t stand out in any way against a market of truly excellent online brokerages. To wrap up our RevolutExpert review, we’d like to reiterate that you should stay away from the broker.