ROinvesting Review 2023: Don’t Risk Paying Outrageous Fees
The online CFD and forex broker ROinvesting operates out of Cyprus. There, they have a registration with the Cyprus regulator, CySEC. Their parent company is Royal Forex Ltd. The company also operates similar brokers, GMO Trading and RoyalForex. Both of them have less than stellar reputations due to their high account and withdrawal fees.
Trading with ROinvesting
The suite of assets at ROinvesting is a bit lacking, with subpar currency pair offerings and a fairly standard swatch of CFDs on stocks, commodities, indices, and cryptocurrencies. Trading with the broker is through the popular MetaTrader 4 platform, with all of the tradings and charting features that traders are familiar with. They have leverage available up to the ESMA mandated limit of 1:30, but our ROInvesting review found reports that the broker is advertising the professional leverage of 1:500 for their retail accounts. High leverage can be dangerous and is typically offered by unregistered brokers like TradeFX.
Bad Reviews for ROinvesting and Company
Together with the other brands in the Royal Forex Ltd family, GMO Trading, and Royal Forex, ROinvesting has many negative user reviews online. The broker offers investment advice to traders through their account representatives. Many client reviews say that these representatives are far too aggressive, always pushing traders to deposit more money and open more positions. There are also the typical complaints about difficulty making withdrawals from the broker.
Broker Charges Massive Fees
The main reason that traders would want to shy away from this broker is their high fees. The minimum deposit with this broker is $250, above average but nothing shocking. The real trouble starts with withdrawal fees. Any withdrawal made before trading, like a trader changing their mind to close their account, will incur a fee of $50. There is another fee for any withdrawal of under $100.
Those are bad enough, but the inactivity fees that this broker charges are genuinely scandalous. After two months of inactivity, they charge a monthly fee of $80. The cost of the inactivity fees rises over time. After ten months of inactivity, this broker will charge a trader’s account $500 per month. We don’t see how any investor could choose a broker with this kind of fee structure.
Don’t Let a Broker Deny You Your Funds
You shouldn’t be leaving your money with a broker that has a fee structure so bad that their regulator issues a fine for it. If you have found your deposit eaten away by inactivity fees or held hostage by withdrawal fees, contact us today to look at alternative ways to get your money back.
Is ROInvesting a legitimate broker?
ROInvesting is a broker registered by CySEC. This broker is owned by Royal Forex Ltd, a company also related to GMO Trading. All the brands of this company have very negative user reviews. Despite the CySEC regulation, we can say that this broker shouldn’t be trusted.
How the ROinvesting operates and is it a scam?
ROInvesting is operating highly suspiciously. The broker is charging massive fees to its clients and has many negative reviews. They are charging an incredible 50$ per withdrawal, and even more if the client wants to withdraw less than 100$. The broker is offering leverage up to 1:500, which is illegal by CySEC regulation.
Is ROinvesting legit?
ROInvesting is a CySEC regulated broker. It is a brand of Royal Forex Ltd, a company that owns several other brands. For every brand, there are multiple bad reviews. Clients are claiming that they cannot get their funds back, or even worse, they are overcharged for withdrawals. Therefore, we can consider the company not legit.