Riverquode Review & Trader Rating in 2026

• EUR/USD spread: 2.5 pips on Classic and Silver, 1.8 pips on Gold, 1.4 pips on Platinum and 0.9 pips on VIP.
• Commission: none on any account type.
• Overnight swaps: charged on positions held overnight and tripled on Wednesdays; Silver, Gold, Platinum and VIP receive a swap discount.
• Inactivity fee, charged monthly: $100 for 31 to 60 days without activity, $250 for 61 to 180 days and $300 after more than 180 days (the FAQ page lists $500 for this last stage).
• Withdrawals: one free withdrawal for a verified account with at least one trade, otherwise $10; after that 3.5% by debit card or $30 by wire.
• Deposits: no broker fee.

An account counts as dormant after one month with no trade, deposit or withdrawal. The inactivity fee is then deducted every month until the balance reaches zero, so a $250 balance is used up by the second monthly charge.

Spreads vary with volatility and liquidity under the General Fees Policy (May 2026). Payment-provider and currency-conversion charges are passed on to the client, and retrieving archived account records can carry an administrative fee.

Clients contract with AzurevistaFX (Pty) Ltd, a South African company registered under number 2020/750823/07 at 2nd Floor Norwich Place, Norwich Close, Sandown, Sandton. The Financial Sector Conduct Authority (FSCA) authorised the firm on 14 February 2023 as a Category I financial services provider under the FAIS Act, FSP 52830, and lists Riverquode as its trade name. The authorisation covers intermediary services, without authorisation to give advice.

The client agreement describes the firm as an intermediary that passes orders to liquidity providers and execution venues rather than acting as market maker. South African courts have exclusive jurisdiction over disputes, and complaints the firm does not resolve can go to the FAIS Ombud. The agreement excludes South African residents, so the service is aimed at clients outside the licensing country.

Client money is held in segregated bank accounts at institutions chosen by the firm or its execution partners, and the firm accepts no liability if one of those institutions fails. No investor compensation scheme applies, and the risk disclosure states that clients rank as general creditors if the firm becomes insolvent. The client agreement (June 2026) provides negative balance protection for retail clients.

The website also names IGM Forex Ltd, a Cyprus firm, as a group company. Riverquode clients contract with AzurevistaFX (Pty) Ltd and are not covered by the group firm's licence.

• Deposits: credit and debit cards, wire transfer and alternative payment methods, with no broker fee. Card payments are processed through NOVENTRA NVT LTD, a UK company acting as payment intermediary.
• Minimum withdrawal: $100.
• First withdrawal: free if the account is fully verified and has at least one trade; otherwise $10.
• Later withdrawals: 3.5% by debit card and $30 by wire transfer; credit cards, prepaid cards and e-wallets follow the payment processor's terms.
• Processing: 5 to 10 business days.
• Chargebacks: a $150 research fee applies.

Withdrawals return to the original deposit method, need a fully verified account and cannot exceed the available balance. While positions are open, at most 80% of the balance can be withdrawn.

Credit bonuses are offered by email at the firm's discretion. A bonus becomes withdrawable only after $20,000,000 in traded volume per $1,000 of bonus, it is removed after 15 days without open positions or trades, and the firm's decision on bonus disputes is final.

Registration opens a demo account with $100,000 in virtual funds; the firm can limit how long a demo account stays open. A live account needs a minimum deposit of $250 or the equivalent in another currency, and withdrawals require a fully verified account.

Five live tiers are listed: Classic, Silver, Gold, Platinum and VIP. All five use the same leverage limits; Gold, Platinum and VIP have tighter EUR/USD spreads, and every tier above Classic receives a swap discount. The VIP account page lists account currencies of USD, EUR, CHF and GBP and trade sizes from 0.01 to 50 lots.

Riverquode does not accept residents of the European Union, the United Kingdom, the United States, Canada, Japan, Australia, South Africa, Russia, Belarus, Iran, Iraq, North Korea or Myanmar, or of any country where using the service would break local law.

The WebTrader is the broker's own platform and runs in the browser, so trading needs no software download. The broker lists chart analysis and risk-management tools among its trading features.

MetaTrader 4, MetaTrader 5 and other third-party platforms are not available, so expert advisors and indicators built for those platforms cannot be used. Orders pass from the firm to liquidity providers and execution venues, and the VIP account page describes its execution as STP.

The CFD list covers currency pairs, share CFDs, stock indices, commodities including gold, silver and palladium, and cryptocurrency CFDs. Every instrument is a contract for difference, so share and crypto positions give price exposure without ownership of the underlying asset.

Leverage is the same on all five account tiers: up to 1:400 on forex, 1:200 on metals, indices and commodities, and 1:5 on share and crypto CFDs. The client agreement allows the firm to change these limits without prior notice. Margin call is at 100% and stop out at 20%.

Support runs 24/7 according to the account pages. The global phone number is +44 20 3150 0978 and the email address is support@riverquode.com; live chat and a knowledge hub are also available.

Language lines cover English, Portuguese, Spanish, Thai, Hindi, Malay, French, German and Italian.

Complaints are submitted through an online form. The firm acknowledges a complaint within 5 days and aims to resolve it within 6 weeks, with a final outcome no later than one month after any holding response. Unresolved complaints can be escalated to the FAIS Ombud in South Africa.

Research tools listed by the broker:

• Chart analysis
• Economic calendar
• Latest market news
• Daily market videos
• Trading signals
• Risk-management tools

The education centre offers e-books, a knowledge hub, a glossary and platform tutorials. The demo account, funded with $100,000 in virtual money, allows practice on the platform before a live deposit.