FOREX Rally Review

MIN. DEPOSIT $100
Up to 1000:1
Up to 100% BONUS
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FOREX Rally
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Overview

Company Information It is time to review one of the newest players on the global Forex stage and namely – Forex Rally. The small international brokerage company is a dedicated… more

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Details

Broker FOREX Rally
Website URL http://www.forexrally.trade/
Headquarters Lagos, Nigeria
Support Number +44 – 20 – 3519 – 1290 (UK); +234 – 144 – 08191 (Nigeria)
Support Email backoffice@forexrally.trade
Support Types Phone, Live Chat, E-mail
Languages English, Russian, Japanese
Minimum 1st Deposit $100
Bonus Up to 100%
Payout Up to 1000:1
Free Demo Account Yes
Account Types Basic, Standard, PRO
Deposit Methods Visa, MasterCard, Neteller, Verve, Skrill, Interswitch, eTranzact, PerfectMoney, WebMoney, VoguePay, Globalpay, PocketMoni, GTBank, Zenith
Withdrawal Methods Visa, MasterCard, Neteller, Verve, Skrill, Interswitch, eTranzact, PerfectMoney, WebMoney, VoguePay, Globalpay, PocketMoni, GTBank, Zenith
Types of Assets Forex, Commodities, Equity CFDs, Indices, ETFs, Binary options
Account Currency USD, NGN
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

It is time to review one of the newest players on the global Forex stage and namely – Forex Rally. The small international brokerage company is a dedicated provider of technologically advanced financial services since 2014. The exact address of the main headquarters is 21 Adeniyi Jones Avenue, Ikeja, Lagos State, Nigeria. The online financial services provider is registered with the local government (RC 1288748). However, independent organizations and higher authorities do not regulate Forex Rally at this time. The company behind the brand is called FRNG Ltd and has won “Best Newcomer in the Region – Africa” in the recent years.  As a new brand without the required reputation, Forex Rally mostly keeps low transaction fees on their various market instruments. Despite its recent appearance, the broker already has a huge success among the new traders and beginners. The extensive educational materials and well-covered lessons are entirely suitable for newbies and those, who want to get back to the basics. All the information is freely accessible on the seminars handled regularly Ikeja, Lagos. In fact, Forex Rally organizes numerous events every month, especially for their existing clients that can talk face to face with renowned experts and financial market analyzers.

 

Trading Information

Surprisingly for a new financial institution, Forex Rally has quite the broad range of offered markets and instruments. The broker gives its traders access to over 50 Forex currencies, commodities, equity CFDs, indices, ETFs and binary options. Pairs can be traded on tight spreads starting from 1.2 pips on majors. The maximum leverage is also well regulated it’s limited to 1:1000. The lot size is 0.01. Indices are also extremely attractive for both professional and beginning traders. The possible leverage extends to 1:600 with a minimum trading lots of 0.01. Forex Rally offers excellent trading conditions for its other instruments as well.

 

Clients are welcome to choose from three different types of accounts. The first one is called Basic and as the name itself states, the profile offers only the basic benefits for its user. The spreads are fixed, and the standard leverage applies. Also, there are free educational package and personal account manager included. The next account type is Standard, and it differs from the Basic only by the floating spread with an average of 1.2. At last, Forex Rally’s customers can enjoy Pro Account, which involves small commissions on the traders rather than any spreads. The VIP profile also includes regular private sessions with a Chief Financial Advisor and Analyst.

 

Trading Platforms

Those who like to test new trading platforms and explore opportunities beyond the popular MetaTrader 4 will be delighted to learn that Forex Rally offers a new generation of trading software called xStation. The platform is divided into many small pieces to cover different devices and OS. The software support Demo accounts for traders, who prefer to test it out first. There are various extensions and functionalities included in the platform, such as the trading calculator, market squawk, advanced charting and technical analysis, as well as bulk order commands. Also, all clients of Forex Rally can also use xSocial, which brings world’s traders together to exchange ideas and even copy their traders in live mode.

 

The broker knows how important it is to keep it traditional as well, so MT4 is also available for download on both mobile and desktop devices for all customers. All the tools and functionality are presented in the most famous trading platform of all.

 

Security and Customer Services

Forex Rally will not impress the seasoned traders with its security measures. There is no SSL encryption throughout the website, which may be a problem for clients who prefer a protection while submitting sensitive information. The broker is also not regulated by a reputable authority and at this time, it doesn’t follow the recommended practices. There is no much information about clients’ fund’s insurance and account segregation.

 

Clients can enjoy top notch services and adequate assistance 24/7. Forex Rally’s representatives can be contacted with ease by phone (there is two numbers – UK and Nigeria landline), live chat, web form and email. The broker also covers some of the popular social medias, where the communication can be forwarded as well.

 

Deposits and Withdraws

Forex Rally employs a broad range of payment methods that cover transactions with cards, e-wallets, and banking. The primary currency used in most of the options is USD. Some of the deposit and withdrawal methods involve a commission. It is usually formed by a percentage of the money amount, which stays in the range of 0.75% to 2.25%. As we’ve mentioned above, clients can choose from three account types and all of them have different minimum deposit requirements. They are as follows: Basic Accounts require no less than $100 to be registered, Standards – $500 and Pro – $1000.

 

Deposit Bonuses and Loyalty Programs

The Nigerian brokerage company offers an exclusive deposit bonus for its new clients, which goes up to 100% of the initial funding. The rules are simple – a new customer should make the first deposit and then send a request to Forex Rally to claim the bonus money. The promo cash will be credited shortly, and the trader can actively use it. This type of promotion is divided into different categories, and the percentage may vary. The different bonus conditions apply to different countries and situations; they can be reviewed in details on the broker’s website.

 

Apart from the bonus programs in USD, there is a promotion that involves the local currency (Naira). Nigerians who open a new account with Forex Rally can exclusively get 5000 Naira on their accounts and trader this amount until all the sum is rolled over. After the conditions are met, the customer can quickly withdraw the bonus cash.

 

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