Thinking of getting into business with Roi Stock? Here is what you must know about this broker. Carefully read this review to find out if roistock.com is the trading platform you will want to trade with.
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About Roi Stock Broker
Roi Stock is an offshore brokerage company with a lot of promises for traders. The broker operates under ROI STOCK LTD with a contact address showing — 30 St Mary Axe London, United Kingdom.
The broker claims it offers tight spread, no commissions, reliable order execution and market reports.
To clarify, in spite the trading instruments Roi Stock claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
roistock.com: Reasons to Avoid This Broker
Firstly, roistock.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, UK does not recognize this broker.
Secondly, we noticed roistock.com has no demo account for traders. Since traders can’t test broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Roi Stock mentioned zero fee on Credit card withdrawal. As for the processing days, it could be 3-10 business days. This is quite lengthy for forex traders to bear.
On a dormant account of 12 months, the broker charges $30 for an annual maintenance.
Minimum Deposit
Roi Stock minimum deposit is not mentioned.
As for the payment methods, we can make payment via Credit/ Debit card, Bank Wire Transfer, Bitcoin and others. But, you should not consider making any payment with this broker because it is a risk. So beware!
Roi Stock Platform
Roi Stock offers web based platform and not MT4 or its successor MT5 (Industry standard trading platform) which gives us more reason not to take this broker serious.
As for the leverage, the broker mentioned nothing on its leverage. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Roi Stock Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is roistock.com a Reliable Broker?
No, roistock.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
