First of all, our network of law firms specializing in financial fraud is made up of a team of European experts familiar with European, French and Cypriot legislation. Based on different specific laws and European legislations, our legal experts aim to help Forex victims to recover their lost funds. We aspire to keep you informed about the threats that may exist on Forex-type trading platforms. In this article, we want to give you our opinion on the ROinvesting broker.
I / About the ROinvesting broker
ROinvesting, founded in 2017 is a Cypriot Forex and CFD trading company. Indeed, it is part of Royal Forex Ltd., based in Cyprus. Regulation is therefore carried out by the CySEC (Cyprus Securities and Exchange Commission). EU requirements must be respected.
The MetaTrader 4 trading platform is available for trading via ROInvesting, as well as a trading application that provides access to the trading platform of this broker.
For information, ROinvesting is a partner of the popular Italian club AC Milan. This information on their website seems to tell us that the broker is reliable, and may therefore encourage you to invest in it rather than another (especially if you like football and this club).
On their website, we observe the “advantages” of this broker, such as:
- No commissions
- More than 350 assets
- 10,000 markets
- 24/7 support
- Maximum leverage of 1: 200
- 0.03 pips minimum
However, the green “market calls” button seems suspicious to us. It clearly encourages you to invest in the financial market.
II / The different ROinvesting trading accounts
For this broker, you have the possibility to choose between three different accounts: silver, gold or platinum. Obviously, the higher the level of the account, the more benefits you have. However, the broker clearly does not indicate the minimum amount to deposit for each account. It may therefore seem suspicious.
ROinvesting offers an Islamic trading account for Sharia-friendly traders.
In addition, in order to encourage you to invest, it is also possible to open a so-called practical account after registering for a real account. It’s akin to a demo account, and it lasts 365 days according to their website.
III / Withdrawals
While going through the legal documents posted on the ROinvesting website, we found some troubling terms, especially regarding the fees charged by the broker.
More precisely, ROinvesting clients pay 80 to 500 euros in inactivity costs per month. This amount seems exceptional to us. In addition, they must pay 50 euros for each withdrawal.
As we did in our research on Royal Forex Ltd. (The company that operates ROinvesting), we found that most investors had negative experiences with the company’s two other brands: GMO Trading and RoyalForex. Many users complain that the broker’s employees are forcing them to invest more, even if the broker does not allow withdrawals.
Source : https://www.roinvesting.com/en/legal
IV / Opinions on the ROinvesting broker: scam or not?
To get an opinion from users on this broker, we have selected the reviews of Trustpilot.
We found that there were about 50 English comments. Most of them are negative towards the ROinvesting broker and are recent. Here they are:
Regarding these opinions, we understand that large sums are involved, and that the broker seems to be putting pressure on users. We advise you to be vigilant.
Accustomed to using Trustpilot to understand what users think about different brokers, we had never seen a warning like this:
We therefore assume that the broker may issue false reviews on Trustpilot in order to mislead the prospective user. Conversely, a competitor may give a negative opinion of the broker, even if this is less likely. We advise you to be attentive and subjective about what you can read or hear on the subject.
V / Our opinion on the ROinvesting broker
Our point of view on ROinvesting is clear. We warn people who wish to invest on trading platforms through ROinvesting brokers. Indeed, even if everything indicates that it is a regulated broker authorized by CySec, where the website seems clear and we have access to legal documents, we have noticed that the perception of the latter is further negative.
Can we say ROinvesting is a scam? No, since there is no official evidence. However, as a network of law firms specializing in financial fraud, we urge you to be mindful of your investment and the advice you may get from it.
If you have any questions about Forex-type trading platforms, please do not hesitate to contact us for further information.