High risk
39 out of 100 · 80% checked
Our investigation found it is high risk and could not be verified, and it has 10.4 years of verified history.
We checked RallyTrade on 2026-10-28 across its company record, client terms, trading offer and service, and could verify 80% of its record. The score of 39 is what the checked record adds up to; nothing held it down. What would move the score: policy risk, critical clauses, language parity. Our published investigation found it is high risk and could not be verified, with 10.4 years of track record. Its client terms have not been reviewed yet.
Score last calculated 2026/10/28
Wikilix independent safety report
Rally Trade is a real, long-established Nigerian brokerage rather than a clone or a fake front, and we found no evidence of fraud and no regulator warning against it. But it holds no financial licenc…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
What Wikilix has recorded about RallyTrade: its history, the licences it holds, its trading conditions and its fees.
RallyTrade is a Nigeria-based online broker operated by FRNG Limited, offering forex, commodity, index and crypto CFDs through MetaTrader 5. Its published offering covers 42 currency pairs, 36 CFDs and 7 crypto instruments, with no account minimum stated on its current website and funding built around Nigerian naira bank transfers, local card payments and stablecoin transfers. No financial licence is on record for the company.
No. There is no financial regulator, licence number or supervisory authority on record for RallyTrade or for FRNG Limited, so this is a broker with no confirmed regulation rather than one whose licence is merely unverified. In practice that means no statutory compensation scheme stands behind client money, and there is no regulator a client can escalate a complaint to.
RallyTrade is the trading brand of FRNG Limited, and the broker publishes the Nigerian company registration number RC 1288748 as its own. That registration is a corporate record: it shows that a company exists, it is not financial regulation, and it authorises nobody to take client deposits or to deal in CFDs. WIKILIX has not confirmed the number against the Nigerian corporate register, so it remains the company's own published claim.
RallyTrade trades without confirmed financial regulation, which means a client carries the full counterparty risk of the company itself. On the credit side it names its operating company, publishes a registration number, runs offices in three Nigerian cities and uses a mainstream platform rather than an opaque in-house system. Against that, there is no licensed entity, nothing on record about segregated client funds or compensation cover, and a leverage cap well above what licensed jurisdictions allow retail clients.
RallyTrade publishes one live account, its MT5 account, presented as a raw-spread account with no trading commission. A second type, RallyTrader, is marked Coming soon with no terms published. The current website states no minimum deposit for the account, which does not mean there is none. The naira funding channels accept deposits from 1,500 NGN and the stablecoin channels from 10 USD. The 100, 500 and 1,000 USD minimums of the former Basic, Standard and Pro accounts appeared only on the broker's old site. The fees page separately sets out commission terms for Standard and Pro accounts, which the current does not list.
The MT5 account is advertised with raw spreads from 0.1 pips and no commission to open or close. The fees page states that the Standard account pays no opening or closing commission and no monthly maintenance fee, while the Pro account pays 0.003% of nominal value per lot to open and 0.003% to close on forex, index and commodity CFDs, with the closing charge taken at the time of opening. Payment charges are mostly levied by the provider rather than by the broker: card deposits through Paystack are listed at 1.5% capped at 2,000 NGN in the methods table but at 1.25% in the commission table, Moniepoint transfers carry 100 NGN, naira bank withdrawals 52.5 NGN and stablecoin withdrawals 5 USD.
RallyTrade's leverage figures conflict. Its MetaTrader 5 page advertises leverage up to 1:1000 on the MT5 account, while its account types page gives that account 1:200 on forex and 1:100 on crypto and commodities. Its terms add that leverage drops as the account grows: on an NGN account, 1:1000 on EUR/USD up to 100,000 NGN and 1:500 above 100,001 NGN.
MetaTrader 5 is RallyTrade's only live trading platform. The broker distributes its own branded MT5 build for Windows, links the MetaTrader 5 apps for Android and iOS and runs a browser WebTrader at terminal.rally.trade, with Expert Advisors supported for automated trading. It also advertises its own copy trading service. Its Rally.App platform is marked Coming soon, and MetaTrader 4 is not offered. Details and downloads are on the broker's .
Funding is built for clients in Nigeria. Naira bank transfers run through Guaranty Trust Bank, Zenith Bank and Wema Bank from 1,500 NGN, Moniepoint and in-person POS transfers are also accepted, and card deposits are credited instantly through Paystack between 1,500 NGN and 1,700,000 NGN. USDT and USDC deposits and withdrawals go through Busha from 10 USD. Naira withdrawals start at 5,000 NGN and USD bank wires, cheques and CPI withdrawals at 10 USD. The help centre says withdrawals are processed within 0 to 48 hours, while the funding page says most take up to 24 hours and crypto withdrawals typically 30 minutes. RallyTrade says it charges no deposit or withdrawal fee itself and that all commissions come from the payment providers. The method-by-method limits and fees are set out on the broker's .
Support runs 24/7 by live chat and by email at support@rally.trade. The Lagos head office takes calls on +234 901 019 3243 and +234 1 700 8170, and 09014572926 is for text messages and WhatsApp only. A help centre and separate partner and press addresses complete the contact options. RallyTrade also lists walk-in offices in Lagos, Port Harcourt and Ibadan, which gives clients in those cities a physical point of contact.
Pros
Cons
RallyTrade is a locally focused Nigerian CFD broker with a conventional MetaTrader 5 setup, real naira and stablecoin payment rails and offices clients can visit, run by a company with no confirmed licence. The attraction for a Nigerian client is funding, pricing and support inside their own market; the trade-off is an unregulated counterparty, where a dispute is settled with the company rather than with a supervisor standing behind it. Anyone considering an account should read the current terms on the broker's own site and weigh the missing licence against the convenience of local funding.
8 full-page captures of RallyTrade's own site, archived so what they said can still be read after the pages change.
We have not confirmed any regulation for RallyTrade. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
We have not confirmed any regulation for RallyTrade. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
One account type on record. Leverage up to 1:200.
| Account | Min Deposit | Max Leverage | Commission |
|---|---|---|---|
| MT5Raw Spread · ECN | Not recorded | 1:200 | No fees |
Where RallyTrade says it will and won't take clients
Confirmed blocked
Named in the broker's own terms
Likely blocked
Reported, not verified against a primary source
Covered by a parent block
Territories a blocked country carries with it
Explicitly accepted
Named as accepted — not a full list of served markets
10 ways to fund an account. One credits instantly. The costliest way in is Moniepoint (NGN) at NGN 100.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Guaranty Trust Bank (NGN)Bank TransferDeposits from 1,500 NGN, processed up to 24 hours, and withdrawals from 5,000 NGN, processed up to 2 days (the help centre says withdrawals take 0 to 48 hours; the funding page table shows up to 1 day). No deposit fee is stated. The withdrawal fee is shown as 52.5 NGN in the methods table, while the same page's withdrawal commission table states 52.5 NGN for all naira bank wires with an exception for GT and Zenith accounts. The fee shown follows the more specific methods table. RallyTrade states it charges nothing itself and that all commissions are levied by the payment providers, so a provider charge may still apply. The help centre's deposit instructions name the GTCO (GTBank) account in the name of FRNG Ltd. | Not recorded | NGN 52.5 | NGN 1,500 | NGN 5,000Not recorded | Up to 2 days |
Guaranty Trust Bank (USD)Bank TransferWithdrawal only: it does not appear among the deposit methods. The fee is tiered, so only the entry figure is stored: 5.25 USD for withdrawals up to 2,000 USD, and above 2,000 USD a charge of 0.25% of the withdrawn amount plus 2.5% of the commission. Minimum 10 USD, processed up to 2 days (help centre: withdrawals take 0 to 48 hours). RallyTrade says the charge is the payment provider's, not its own. The page's commission table calls this channel Bank Wire USD. | Not recorded | USD 5.25 | Not recorded | USD 10Not recorded | Up to 2 days |
Zenith Bank (NGN)Bank TransferDeposits from 1,500 NGN, processed up to 24 hours, and withdrawals from 5,000 NGN, processed up to 2 days (the help centre says withdrawals take 0 to 48 hours; the funding page table shows up to 1 day). RallyTrade says it charges nothing itself and that all commissions come from the payment providers. No deposit fee is stated; the withdrawal fee is 52.5 NGN. The page's withdrawal commission table states 52.5 NGN for all naira bank wires with an exception for GT and Zenith accounts, which the methods table does not reflect. The help centre's deposit instructions name the Zenith Bank Plc account in the name of FRNG. | Not recorded | NGN 52.5 | NGN 1,500 | NGN 5,000Not recorded | Up to 2 days |
Wema Bank (NGN)Bank TransferDeposit only: it does not appear among the withdrawal methods. Minimum 1,500 NGN, processed up to 1 day, with no deposit fee stated. The help centre's deposit instructions name the Wema Bank Plc account in the name of FRNG Ltd. | Not recorded | Not recorded | NGN 1,500 | Not recordedNot recorded | Up to 1 day |
Moniepoint (NGN)Bank TransferDeposit only: it does not appear among the withdrawal methods. A 100 NGN service fee applies per transaction, charged by Moniepoint rather than by the broker. Minimum 1,500 NGN, processed up to 1 day. The page's deposit commission table lists it as Moniepoint POS Transfer at 100 NGN, and the help centre's deposit instructions name the account as FRNG/Rally Trade and repeat the 100 NGN fee. | NGN 100 | Not recorded | NGN 1,500 | Not recordedNot recorded | Up to 1 day |
Paystack (NGN)Credit CardDeposit only: it does not appear among the withdrawal methods. Card deposits from 1,500 NGN to 1,700,000 NGN, credited instantly. The methods table states a 1.5% fee capped at 2,000 NGN, while the same page's deposit commission table states 1.25% for Paystack deposits. The fee shown follows the more specific methods table, and the conflict is unresolved. The page adds that the listed commissions do not apply to contest accounts of the 1st Nigerian Forex Championship. RallyTrade says it charges nothing itself; the fee is the payment provider's. | 1.5% | Not recorded | NGN 1,500 | Not recordedNot recorded | Instant |
POS (NGN)Bank TransferDeposit only: it does not appear among the withdrawal methods. Minimum 1,500 NGN, processed up to 1 day. The page's deposit commission table states 0% from RallyTrade's side, so no broker fee is stored; a provider charge may still apply. The help centre adds that third-party payments are not accepted and that funds must come from the client's own personal account rather than a corporate or merchant account. | Not recorded | Not recorded | NGN 1,500 | Not recordedNot recorded | Up to 1 day |
Busha (USDT)CryptocurrencyBoth directions, with a minimum of 10 on each and no deposit fee stated; the withdrawal fee is 5. Deposits are shown as up to 30 minutes (the broker's feed says instant); withdrawals up to 2 days, as the help centre says withdrawals take 0 to 48 hours and the feed gives up to 24 hours for Busha. The page prints the amounts in dollar terms against a USDT balance, so the currency fields carry USD, which is the nearest three-letter code the record stores. The help centre routes crypto deposits through the client office: Deposit, then trading account MT5, then deposit type Crypto. | Not recorded | USD 5 | USD 10 | USD 10Not recorded | Up to 2 days |
Busha (USDC)CryptocurrencyBoth directions, with a minimum of 10 on each and no deposit fee stated; the withdrawal fee is 5. Deposits are shown as up to 30 minutes (the broker's feed says instant); withdrawals up to 2 days, as the help centre says withdrawals take 0 to 48 hours and the feed gives up to 24 hours for Busha. The page prints the amounts in dollar terms against a USDC balance, so the currency fields carry USD, which is the nearest three-letter code the record stores. The help centre routes crypto deposits through the client office: Deposit, then trading account MT5, then deposit type Crypto. | Not recorded | USD 5 | USD 10 | USD 10Not recorded | Up to 2 days |
Cheque/CPI (USD)OtherWithdrawal only: it does not appear among the deposit methods. Minimum 10 USD, processed up to 2 days (help centre: withdrawals take 0 to 48 hours). The page's withdrawal commission table states that no commission is applied, which is why the fee is recorded as zero rather than left unstated. The methods table files it under the bank category. | Not recorded | Free | Not recorded | USD 10Not recorded | Up to 2 days |
2 trading platforms on record: MetaTrader 5 and Proprietary platform.
Rally Trade's only live platform. Broker-branded MT5 installer for Windows, MetaQuotes' Android and iOS apps and a browser WebTrader at terminal.rally.trade. Advertised with raw spreads from 0.1 pips, zero commission and Expert Advisor support.
Rally Trade Copy Trading, the broker's own copy trading service: followers copy strategy providers' trades and providers earn from follower profits. Its proprietary Rally.App platform is marked Coming soon, with no download yet.
6 domains on record. 5 active.
One legal entity behind the RallyTrade brand.
RallyTrade names FRNG Limited as the operating company. We could not confirm that registration on the registry.
3 other brokers on the record share what RallyTrade offers — its country, regulator, account types or platforms — set beside it on the same measures.
Common questions about RallyTrade
RallyTrade lists three offices in Nigeria: its Lagos head office at Fanis House, 21 Adeniyi Jones Avenue, Ikeja; 2nd Floor, City View Plaza, 26a Aba Road, Port Harcourt; and 2nd Floor, Brain Box Hub, Queen Elizabeth Road, Mokola, Ibadan. Its help centre also lists a Rally Academy office at 43 Adeniyi Jones Avenue, Ikeja. The Abuja office shown on its old site is no longer listed.
RallyTrade operates with no financial licence on record, so there is no regulator behind client money, no statutory compensation scheme and no supervisor to escalate a complaint to. In its favour, it names its operating company, publishes a registration number, runs offices in three Nigerian cities and trades on MetaTrader 5 rather than an in-house platform. Anyone funding an account is taking the company itself as counterparty.
RallyTrade's offering covers 42 currency pairs, 36 CFDs across commodities and indices, and 7 crypto instruments, all traded on MetaTrader 5.
RallyTrade currently publishes a single live account, its MT5 account, presented as a raw-spread account with no trading commission and maximum leverage of 1:200 on forex and 1:100 on crypto and commodities. A second type, RallyTrader, is marked Coming soon with no terms. Its fees page separately sets out Standard and Pro commission terms, which are not reflected in the account types it lists today.
The MT5 account RallyTrade lists is advertised with raw spreads from 0.1 pips and no commission to open or close. Its fees page also sets out a Pro account commission of 0.003% of nominal value per lot to open and 0.003% to close on forex, index and commodity CFDs, with the closing charge taken at the time of opening, and states that the Standard account pays no commission and no monthly maintenance fee.
RallyTrade's help centre says withdrawals are processed within 0 to 48 hours, and requests made at weekends, on public holidays or outside working hours are handled on the next working day. Its funding page says most withdrawals take up to 24 hours and crypto withdrawals typically 30 minutes. Naira bank withdrawals start at 5,000 NGN with a 52.5 NGN bank charge, with an exception the commission table makes for GT and Zenith Bank accounts. USD bank wires start at 10 USD and cost 5.25 USD up to 2,000 USD, with a percentage charge above that. USDT and USDC withdrawals through Busha cost 5 USD, and cheque or CPI withdrawals from 10 USD carry no commission. RallyTrade says it charges nothing itself and that all of these are payment provider charges.
RallyTrade funds accounts mainly through Nigerian channels: naira bank transfers at Guaranty Trust Bank, Zenith Bank and Wema Bank from 1,500 NGN, Moniepoint and in-person POS transfers, and instant card payments through Paystack between 1,500 NGN and 1,700,000 NGN. USDT and USDC deposits go through Busha from 10 USD. RallyTrade says it charges no deposit fee itself and that all commissions come from the payment providers: Paystack card deposits are listed at 1.5% capped at 2,000 NGN in the methods table but at 1.25% in the commission table, and Moniepoint charges 100 NGN per transfer.
RallyTrade is the trading brand of FRNG Limited, which publishes the Nigerian company registration number RC 1288748 for itself. A company registration shows that a business exists and is not a financial licence. WIKILIX has not confirmed the number against the Nigerian corporate register, so it stands as the company's own published claim.
RallyTrade's support team works 24/7 by live chat and by email at support@rally.trade. The Lagos head office at Fanis House, 21 Adeniyi Jones Avenue, Ikeja, takes calls on +234 901 019 3243 and +234 1 700 8170, and 09014572926 is for text messages and WhatsApp only. The Port Harcourt office is on +234 802 822 3337 and the Ibadan office on +234 802 722 2332. Partners can write to partner@rally.trade and the press to pr@rally.trade, and a help centre at rallytrade.kb.help answers common questions. The website is in English only.
RallyTrade's leverage figures conflict. Its MetaTrader 5 page advertises leverage up to 1:1000 on the MT5 account, and its About page also lists 1:1000. Its account types page gives the same MT5 account 1:200 on forex and 1:100 on crypto and commodities. Its terms add that leverage falls as the account grows: on an NGN account, 1:1000 applies to EUR/USD up to 100,000 NGN and 1:500 above 100,001 NGN. Check the cap for the instrument you trade before funding. Leverage magnifies losses as quickly as gains.
RallyTrade's current website states no minimum deposit to open an account: the account types page lists the MT5 account without one, and the About page only promises a "low minimum deposit". WIKILIX therefore shows the account minimum as not recorded, which does not mean there is none. Each payment channel has its own minimum: 1,500 NGN for naira bank, Moniepoint, POS and Paystack card deposits, and 10 USD for USDT or USDC through Busha. The 100, 500 and 1,000 USD minimums of the former Basic, Standard and Pro accounts appeared only on the broker's old site.
MetaTrader 5 is RallyTrade's only live trading platform. The broker publishes its own branded MT5 installer for Windows, links the MetaTrader 5 apps for Android and iOS, and runs a browser WebTrader at terminal.rally.trade; Expert Advisors are supported. It also advertises its own copy trading service. Its Rally.App platform and RallyTrader accounts are marked Coming soon, with no download or terms yet. MetaTrader 4 is not offered on its current website.
No. RallyTrade's website names no regulator and no licence number. It shows only the company registration of FRNG Limited, RC 1288748, which is not a financial licence. Its partners page calls it a "trusted, regulated platform" without naming a regulator, and WIKILIX's published scam check found no entry for FRNG Limited in the Nigerian SEC register of capital market operators. No regulator or compensation scheme stands behind client money.
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