Ruizean - new broker

[beaumz]

Hi Nick / forexsignals team,

I noticed Ruizean is not listed as a VIP broker anymore - what is the reason for this? I have a VIP account all setup and running with them, all fine. Seems very odd that they were on the list for a short while then vanish - anything to be concerned about ?

cheers,

[Isochronous]

Fair point Nick. I'm going to give them a go anyway.

Was told that they only take CC deposits over the phone - wonder why that is.

[Big River Man]

As far as I'm aware every broker has this clause in it, they're all market makers to some extent.

They use CFH liquidity and are as transparent as any other broker I've worked with.

Steve - They've been around for a little over 12 months.

http://pca.st/Somh

This is a link to a video which might explain to people. I imagine that Axi, IC and Ruzeian do it. IC I am sure of it. Axi pretty sure as well.

[Nick]

Too bad that Ruizean don't appear to be a legitimate TrueECN operator - see their PDS: http://rtzone.ruizeanptyltd.netdna-c...-Statement.pdf

As far as I'm aware every broker has this clause in it, they're all market makers to some extent.

They use CFH liquidity and are as transparent as any other broker I've worked with.

Steve - They've been around for a little over 12 months.

[Steven454]

Nick, for how long has Ruizean Trader been operating on the market? Is this very young company?

[Isochronous]

Too bad that Ruizean don't appear to be a legitimate TrueECN operator - see their PDS: http://rtzone.ruizeanptyltd.netdna-c...-Statement.pdf

10. Margin FX and CFD Product Features
Ruizean Trader Trading as Principal

Ruizean Trader will regularly state, via the electronic trading platform, the price at which it is prepared to deal with you as principal. This is known as being a ‘market maker’. When dealing in Margin FX and CFDs, as with all over-the-counter derivatives, Ruizean Trader is the issuer and a market maker, not a broker. Accordingly each transaction agreed and entered into with you will be entered into as principal, not as agent. Should you decide to transact with Ruizean Trader then Ruizean Trader will enter into a legally binding contract with you (as principal) i.e. it will be the counterparty to the transaction and each contract purchased (or sold) by you will be an individual agreement made between you and Ruizean Trader


14. Fees & Charges
Margin FX
The calculation will include a spread in favour of Ruizean Trader. The contract prices (or the payout amounts) offered to clients
hedging, trading or speculating on market prices may differ from prices available in the primary or underlying markets where
contracts are traded. This is due to the spread favouring Ruizean Trader in the price calculation. We act as a market maker and not a broker and make our earnings from the spreads that are embedded in the currency rates. Different spreads are used
depending on the currency pair traded.

23. Disclosure of Interests
In particular, Ruizean Trader is a market maker, not a broker, and accordingly will always act as principal for its own benefit in respect of all Margin FX and CFD transactions with you. Ruizean Trader may conduct transactions to hedge its liability to you in
respect of your Margin FX or CFD positions by undertaking transactions in the underlying currencies. Such trading activities may
impact (positively or negatively) the prices at which you may trade Margin FX and CFD products

[pearcey2]

Yes, the rate is $7 and 1:400 is available by request.

Nick,

Is there any IB offer to reduce commission? Free VPS over a certain volume? Do you have a follower account that shows performance (preferably not Ruizean vs IC Markets following Viper as we know IC is inundated with Viper trades)?

Edit: sorry just saw the Ruizean MAMM account. Results look on par with IC

[Nick]

Yes, the rate is $7 and 1:400 is available by request.

[Isochronous]

Hi Nick

Thanks for the background. They sound like an interesting option.

Can you confirm what the commission level is for Ruizean? Website says $3.50, but is it $7 for VIP like the other brokers (except Mt Cook on $6.50, up from their standard $3.75 as I understand it)

Also, is 1:400 leverage standard or do you have to ask for it?

[Nick]

Hey guys,

Apologies for the delay in responding to your query.

I've been working with these Ruizean Trader for the past few months. I actually travelled through China recently with one of the directors on an investor road show and got to understand their business fairly well.

So far the experience has been nothing but positive. Their spreads and trade execution are also outstanding and interestingly they use completely different liquidity to any of our other brokers, so we don't see the same crowding of orders on our more popular traders which improves performance.

We lowered the VIP amount temporarily to $10k to help support them. They have been successful in helping introduce some fairly large investors from China, so we wanted to offer them the ability to offer their services to our network in recognition for helping us.

If you have any other questions please let me know. I can get one of the directors to post here directly if needed

[beaumz]

Hi isochronous, i have just got a vip with them, as i moved funds from icmarkets. Started noticing my pip gain with viper was getting slim, so i switched to these guys. Main reason- they have the trading servers in london LD4 so execution is great as latency from manchester is minimal. I get the feeling they are just starting, however customer service has been spot on with me. In my opinion better to have a few vip accounts spread over several aussie brokers rather than one large account.

[Isochronous]

I see that this is now on the VIP list and entitles people to VIP Club membership with just a $10k deposit.

Nick can you tell us more about these guys, and if any traders have started using them, what the experience is like?