The FMA in Austria warns against Richfielder. This firm is not authorised to carry out banking transactions in Austria that require a license. The FMA warns investors against concluding transactions with this provider.
Brokerswatch recommends investing only with brokers that are regulated by reputable authority.
Reputable regulatory authority provides additional protection to investors by ensuring that financial firms apply proper standards and rules. Additionally, if the broker tries to cheat you out of your money, it is the regulator’s job to force the financial firm to compensate you for any wrongdoing.