Riverquode Review

Introduction

Riverquode is a brand of AzurevistaFX (Pty) Ltd, which is authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. Client funds are kept in segregated accounts as required by the regulation. This means in case the broker gets bankrupt, your funds will still be protected. The FSCA is a highly reputable Tier-2 regulatory body, and Riverquode is an authorized broker under license number 52830. The company is registered under the Companies and Intellectual Property Commission (CIPC) with registration number 2020/750823/07.

With access to these 160+ tradable instruments, you also have a high leverage of up to 1:400 and tight spreads. You can take calculated risks with features like stop out, margin call, negative balance protection, and a minimum trading volume of 0.01 lots. 

In addition, you also have access to 5 trading accounts with a different set of offerings. You can also test your strategies and familiarize yourself with the broker’s custom WebTrader platform. Also, there is so much educational content available on Riverquode’s website to help you level up. 

Supported Countries

Like almost every broker, Riverquode does not accept clients from all countries. For interested traders, it is important to check if the broker takes clients from your country. If you're able to sign up without issues on their site, you’re likely good to go. Another way to check this is by asking support about it. 

As for restricted geos, the broker does not offer services to clients in the USA, Canada, Russia, Belarus, Iran, Iraq, North Korea, EU, and the UK. 

Average Customer Ratings

We always try to include reviews of customers who have traded with a broker. To do that, we have a customer reviews section you can see on most of our detailed broker reviews. For new companies, we usually quote the stats from TrustPilot. But we couldn’t do that with Riverquode as the broker has not created their profile on TrustPilot as they have just started operations. 

Trading Platform

The trading platform has a significant impact on a trader’s experience. Therefore, many traders look at the offered trading platforms before they make an initial deposit with a broker. Riverquode offers a very capable WebTrader platform. In order to trade with WebTrader, you don’t have to download and install the trading platform app. You can trade straight from your browser. This flexibility is especially useful for traders who prefer to be on top of every movement in the market.

Tradable Assets

Riverquode offers a decent range of 160+ tradable instruments. The following are the types of assets you can trade on Riverquode: 

• Forex (major/minor pairs): 45+
  
• Stocks (global companies): 126
  
• Cryptocurrencies: 10
  
• Indices: 12
  
• Commodities & Metals: 15

Leverage & Spreads

A high leverage allows you to have bigger positions against your investments. Riverquode offers a high leverage on forex pairs of up to 1:400. On Commodities and Indices, the leverage is halved at 1:200. However, the leverage on stocks and cryptos is quite low (1:5). If you are a crypto or stocks trader, it may be better to look at other brokers who offer a better leverage on these assets. 

The spreads on your forex pairs can range from 0.9s on VIP accounts to 2.5 pips on Classic accounts for EUR/USD pairs. On Gold and Crude Oil, the spreads range from 1.4 to 2.8 pips.  Lastly, for Dax, the range lies between $0.10 to $0.14. You can find the detailed breakdown of leverage and spreads in the trading accounts section. 

Customer Support

Customer support has a massive impact on the whole experience a trader has with a broker. Riverquode offers support via live chat, phone, and email. You can visit the website to use the live chat option, dial +442031500978 for phone support, or email at [email protected]. 

Besides offering support in English only, many traders can get support in their first language as the company offers support in 8+ languages (Portuguese, Spanish, Deutsch, Thai, Hindi, Malay, French, and Italian). 

Education & Tools

The areas where this new broker truly shines are trader education and tools. The Knowledge Hub on Riverquode is extensive to say the least. You have articles to help you find answers to your questions. There are 8 trading courses that you can complete at your own pace. 

Once you are on an advanced level, you can also benefit greatly from the detailed e-books. Besides these Knowledge Hub offerings, you have access to Trading Central and Economic Calendar. 

Trading Central Integration allows real-time analysis of the market to help you make more informed decisions. Chart Analysis and Strategy builder tools can give you more detailed insights and make more effective trading strategies. 

Economic Calendar is another useful tool that many traders employ every day. It highlights upcoming announcements such as interest rate decisions, employment figures, inflation reports, GDP data, and other macroeconomic indicators from major economies. Traders use this information to anticipate market movements and plan their trades around high-impact events. 

Deposit & Withdrawals

Frequent traders need to fund their accounts and withdraw profits multiple times a month. Therefore, selecting payment methods you use in your everyday routine is highly advisable. Riverquode accepts payments via bank cards (Visa and Mastercard), wire transfers, and APMs. The minimum deposit required by the broker is $250, which is slightly higher than most brokers. However, the broker does not charge a deposit fee. However, the payment processor may charge applicable fees.

Withdrawal fees, on the other hand, depend on several factors. For instance, there are no withdrawal fees if your account is verified and you have made at least one trade. Otherwise, the fee is $10, plus additional fees depending on the payment method. These fees are 3.5% for debit cards, $30 for wire transfers, and vary depending on your credit card or other payment method.

It is important to note that fees apply if you don’t trade for extended periods. For the first month, there is no fee. However, you may be charged $100 to $500 after one month to six months of inactivity.

Regulation and Compliance

Trading with a licensed broker adds multiple layers of security to your funds and can mitigate the risks of frauds and scams. Riverquode is a broker regulated by reputable FSCA which means the company maintains a high standard of operations. 

Usually, new brokers are regulated by offshore regulators that do not maintain a strict oversight. But that’s not the case with Riverquode. 

Conclusion

Riverquode is a new but promising broker with strong regulation, solid range of tradable assets, a convenient trading platform, an extensive knowledge hub, a multilingual customer support, and many useful risk mitigation features. There are some downsides too like the missing MT4/MT5 trading platforms and no track record for customers to gauge the broker. 

All things considered, Riverquode can be a good broker to give a try. The educational content on the broker is great for new traders. However, if you want to trade with a more established broker, you can check out our top 10 picks available in your country.