Rain
Rain
Data verified on unchanged since the sources
Worth it if you live in the GCC region and want a locally regulated exchange: Rain was the Middle East's first licensed one (2019, Central Bank of Bahrain), with balanced 0.2% fees.
Avoid it if you operate outside the Gulf: Rain is restricted to Bahrain, the UAE, Saudi Arabia, Kuwait and Oman, and is not available in Italy.
Rain was the Middle East's first licensed crypto exchange, in 2019, regulated by the Central Bank of Bahrain and acting as a gateway to the GCC region. Its strong MENA focus comes with limited and slow global expansion.
Data & conditions
| Maker / Taker fee | 0.2% / 0.2% |
|---|---|
| Markets | Spot |
| Max leverage | 1× |
| Supported assets | 35+ |
| Trading pairs | 50+ |
| Fiat on-ramp | Yes |
| Deposit methods | bonifico bancario, Fawri/Fawri+ (Bahrein), carta di credito/debito (Visa, Mastercard, American Express) |
| Geo restrictions | BH, AE, SA, KW, OM |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | MENA · 5+ countries |
| Regulator | Central Bank of Bahrain, ADGM FSRA |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | CBB Bahrein + VARA Dubai CBB (Bahrain); VARA (UAE in corso) |
Strengths
- Before license crypto of the Medio Oriente (2019); CBB Bahrain; GCC gateway.
- No notable sovereignty advantage documented.
Weaknesses
- Focus MENA; espansione global limited.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (CBB (Bahrain); VARA (UAE in corso)): reporting to authorities and freezes on order.
- Geographic restrictions (BH, AE, SA, KW, OM).
Verdict
Rain is the only one in the group to rise into the A tier, and rightly so: it was the Middle East's first licensed crypto exchange back in 2019, is regulated by the Central Bank of Bahrain and serves as a reliable gateway to the GCC region, with balanced 0.2% fees. The limit that keeps it from climbing higher is slow global expansion still confined to MENA, which narrows its reach outside the region.
Its high rating on the protection side rests entirely on a banking license and compliance, which work in reverse through this lens: Rain is custodial, with full KYC and funds held centrally under the Central Bank of Bahrain. There is no self-custody, privacy or censorship-resistance component. Its regulatory excellence here does not translate into sovereignty for the user.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Rain, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
History not verifiedWe have not yet completed the incident search for this service: no entries here does not mean no events.
Public reviews
-
Google Play ↗
4.5/5
8,014 reviews
Android app (com.rainmanagement.rain); ratingValue 4.453 and ratingCount 8,014 from aggregateRating structured data (gl=BH), re-verified by the orchestrator.
-
App Store ↗
4.7/5
2,928 reviews
iOS app 'Rain: Buy & Sell Bitcoin' (id 1414619890), publisher 'Rain Management WLL' (bundle com.rainmanagement.rain), Bahrain storefront (core market). Exact average 4.668 and count from itunes lookup, re-verified by the orchestrator.
Weighted average across 2 public review platforms (10,942 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
What are Rain's fees?
On Rain, spot fees are maker 0.2% / taker 0.2%. They drop with monthly volume and VIP tier.
Is Rain regulated in Europe?
Regulatory status of Rain: CBB (Bahrain); VARA (UAE in corso). Licence: CBB Bahrein + VARA Dubai (BH).
Does Rain publish Proof of Reserves?
Proof of Reserves publication is not documented for Rain. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.
Can I send transfers to third-party IBANs from Rain?
No, Rain is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.
Does Rain support derivatives and futures?
Rain does not offer derivatives: it focuses on spot trading.
Sources
- Official service page Maker/taker fees · Regulatory framework · Derivatives Data verified on Jun 13, 2026
- bitbo.io Geo restrictions Data verified on Jun 15, 2026
- cryptoradar.com Deposit methods Data verified on Jun 15, 2026
- en.wikipedia.org OAM Italy registry · Legal name · Company type · Stock ticker · +2 Data verified on Jun 15, 2026
Show 5 more sources
- rain.com Corporate site Data verified on Jun 15, 2026
- wamda.com Valuation · Latest funding round · Investors Data verified on Jun 15, 2026
- 500.co Founders · Geographic availability Data verified on Jun 13, 2026
- agrtech.com.au Trading pairs · Past incidents · Max leverage Data verified on Jun 13, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026