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 a headline minimum deposit of 100 USD 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 is recorded here as 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 several 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. The broker's headline minimum deposit is 100 USD, while the naira funding channels accept transfers from 1,500 NGN and the stablecoin channels from 10 USD, so the practical entry point depends on how the account is funded. The fees page separately sets out commission terms for Standard and Pro accounts, which the current account types page 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 run at 1.5% capped at 2,000 NGN, Moniepoint transfers carry 100 NGN, naira bank withdrawals 52.5 NGN and stablecoin withdrawals 5 USD.
RallyTrade publishes a maximum leverage of 1:1000 in its trading conditions, while its account types page states 1:200 for the MT5 account it currently lists. The two figures are not consistent with each other, and 1:200 is the cap attached to the account a new client would open.
MetaTrader 5 is the only platform RallyTrade offers. The broker distributes its own branded MT5 build for Windows and provides Mac, Android and iOS versions plus a browser-based WebTrader, with Expert Advisors supported for automated trading. MetaTrader 4 is not among the platforms it publishes. Details and downloads are on the broker's MetaTrader 5 page.
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 and are stated to complete within 30 minutes. Naira withdrawals start at 5,000 NGN and USD bank wires, cheques and CPI withdrawals at 10 USD, with bank payouts stated to be processed within one day. The method-by-method limits and fees are set out on the broker's deposits and withdrawals page.
Support is provided in English by live chat advertised around the clock, by email at support@rally.trade and on several Nigerian phone numbers, with a separate help centre and dedicated partner, press and feedback addresses. RallyTrade also lists walk-in offices in Lagos, Abuja, 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 that holds no licence on this record. 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 | 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 and withdrawals from 5,000 NGN, both processed 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 more specific methods table is recorded here. 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 | 1 day |
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 1 day. The page's commission table calls this channel Bank Wire USD. | Not recorded | USD 5.25 | Not recorded | USD 10Not recorded | 1 day |
Zenith Bank (NGN)Bank TransferDeposits from 1,500 NGN and withdrawals from 5,000 NGN, both processed up to 1 day. 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 | 1 day |
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 | 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 | 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 more specific methods table is recorded here and the discrepancy is unresolved. The page adds that the listed commissions do not apply to contest accounts of the 1st Nigerian Forex Championship. | 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 | 1 day |
Busha (USDT)CryptocurrencyBoth directions, with a minimum of 10 on each and no deposit fee stated; the withdrawal fee is 5. Processed up to 30 minutes. 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 | 1 hour |
Busha (USDC)CryptocurrencyBoth directions, with a minimum of 10 on each and no deposit fee stated; the withdrawal fee is 5. Processed up to 30 minutes. 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 | 1 hour |
Cheque/CPI (USD)OtherWithdrawal only: it does not appear among the deposit methods. Minimum 10 USD, processed up to 1 day. 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 | 1 day |
One trading platform on record: MetaTrader 5.
Rally Trade's only live platform. Broker-branded MT5 installer for Windows, plus Mac, Android and iOS builds and a browser WebTrader. Advertised with raw spreads from 0.1 pips, zero commission and Expert Advisor support.
5 domains on record. All active and served over HTTPS.
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 offices in Lagos, with two addresses on Adeniyi Jones Avenue in Ikeja, and in Abuja, Port Harcourt and Ibadan. Its contact page publishes those addresses together with several Nigerian phone numbers.
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 four 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 a maximum leverage of 1:200. 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 states that bank withdrawals are processed within one day and that USDT and USDC payouts through Busha complete within 30 minutes. Naira bank withdrawals start at 5,000 NGN with a 52.5 NGN fee, USD bank wires start at 10 USD and cost 5.25 USD up to 2,000 USD with a percentage charge above that, stablecoin withdrawals cost 5 USD, and cheque or CPI withdrawals from 10 USD carry no commission. These are the broker's stated terms rather than a measure of how quickly payouts arrive in practice.
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. Most charges come from the payment provider rather than the broker, for example 1.5% capped at 2,000 NGN on Paystack card deposits and 100 NGN on Moniepoint transfers.
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 offers live chat advertised around the clock, email at support@rally.trade and several Nigerian phone numbers, with separate addresses for partners, press and feedback. It also runs a help centre and lists walk-in offices in Lagos, Abuja, Port Harcourt and Ibadan. Support is offered in English.
RallyTrade publishes a maximum leverage of 1:1000 in its trading conditions, while its account types page states 1:200 for the MT5 account it currently lists. The two figures are not consistent with each other, so a client should expect the 1:200 cap that is attached to the account actually on offer and confirm it before funding. Leverage at either level magnifies losses as quickly as gains.
RallyTrade publishes a minimum deposit of 100 USD. Individual payment channels carry their own minimums, which are lower: naira bank, POS and card transfers start at 1,500 NGN and USDT or USDC transfers at 10 USD, so what a client actually has to send depends on the channel used.
RallyTrade offers MetaTrader 5 and nothing else. The broker publishes its own branded MT5 build for Windows along with Mac, Android and iOS versions and a browser-based WebTrader, and supports Expert Advisors for automated trading. MetaTrader 4 is not among the platforms it currently publishes.
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