The RallyTrade brand is managed by FRNG Nigeria with the head office in Lagos. RallyTrade is an international online broker rendering its services in emerging markets.
RallyTrade provides its clients with the latest technologies, low transactional fees, different financial instruments for trading, extensive educational programs, trading platforms, and accounts adapted for individual customer needs.
The broker offers a wide range of financial instruments: various currency pairs, CFDs, precious metals, ETF, and binary options. Trading is carried out through the MetaTrader 4 and xStation trading platforms.
At present there are no rules governing online trading and no corresponding regulatory body in Nigeria. However, since November 2016, the company has been a member of the Financial Commission (FinaCom), the international committee on disputes and complaints resolution in the Forex sphere. Thanks to the broker's membership in the organization, RallyTrade's clients can count on the compensation of up to $5,000. FinaCom acts as an impartial party in conflict resolution between brokerage companies and traders. The Financial Commission serves to simplify and hasten dispute resolution process faster than typical regulatory bodies, such as arbitration or local judicial systems.
In order to open an account in RallyTrade, traders should invest a minimum of $100 – this is the average minimum amount in comparison with other brokers. Spreads on the account with a minimum initial deposit are rather high — 2 pips for EUR/USD on average. However, spreads on other accounts with a deposit of $500 and $1,000 are 1.2 pips.
Clients of RallyTrade are provided with a number of payment options. In addition, the broker clearly indicated what fees are charged for each payment method.
RallyTrade gives a welcome bonus of up to 100% of the deposit of a client's trading account. To get the bonus, you need to open a real trading account, make a minimum deposit and send a request to a manager.
RallyTrade 3/10 (votes 2020)