Independent Review - ROInvesting
When looking for a broker to trade with online it sometimes pays to consider one of the brokers new to the business. Older brokers certainly have history, but the new brokers have sometimes embraced a new way of thinking or have a greater dedication to their smaller client base.
With that in mind we decided to have a look at the offerings of ROInvesting, a Cyprus-based trader that’s been accepting clients since 2017. Below are our observations and commentary regarding what we found. Hopefully it will help you decide if this is a broker you can trade with.
ROInvesting is a fairly new CFD broker that was established in Cyprus. It allows trading in most asset classes, including forex, shares, commodities, indices, and the newest class of cryptocurrencies. The broker is owned and operated by Royal Forex Ltd. Cypriot Investment Firm established in 2015 and regulated by the Cyprus Securities and Exchange Commission (CySEC), which means that the company is following MiFID Directive.
While regulation is certainly reassuring, what’s even more impressive at ROInvesting is its commitment to technology and innovation. It combines high-tech analysis tools with hands-on customer service to improve each client’s trading performance.
Taken all together it means you get to trade with a partner that’s trustworthy and committed to your improvement. That’s a combination not always easy to find among brokers, and it’s a good reason alone for trading with ROInvesting. There are more good reasons though, and below we’ll touch on each one as we review the offerings and features of ROInvesting.
Regulations & Security
The fact the ROInvesting is CySEC regulated under license number 269/15 isn’t so surprising given that the company is located in Cyprus. It is a reason to feel more comfortable with them, knowing they are being reviewed and that you have protections under the laws.
Making trading with them comfortable even more than the regulations are the security practices they employ. SSL encryption keeps all data and transactions safe from hackers. And all the company servers have been located in SAS 70 compliant data centers. They are also PCI-compliant in every single transaction, making it virtually impossible for some type of scam being perpetrated within their systems.
The first thing we look for at any broker is the existence of a demo account. ROInveting passes the test with a demo account that is good for 14 days. That is enough of time to test the broker and its platform.
Now, getting to the live accounts, there are three tiers to them – Silver, Gold and Platinum. Here’s a closer look:
Silver – This is the basic account for new traders. It has a low maximum 1:30 leverage to keep things safe. And there’s access to over 350 different assets, so there will always be something to trade.
Gold – With the gold account you get better spreads and a 25% swap discount. It also gives you the opportunity to raise your maximum leverage to 1:400 if you’re a professional trader. And gold traders get a dedicated account manager and access to training webinars.
Platinum – This is the top level and it gives you everything from the other tiers as well as lifting the leverage to a maximum of 1:500 for professional clients, while also increasing the swap discount to 50%. Spreads are the best available from ROInvesting and a free VPS is added.
It’s worth noting that traders can specify any tier account as an Islamic trading account to take advantage of Sharia trading rules.
It’s also worth noting that upgrading to a Professional Account (available by applying and meeting requirements) unlocks higher leverage (it is important to understand that trading with leverage can be risky due to the fact that leverage may increase profits but it also may increase losses), margin call levels, and gives better spreads and execution.
There are 350 total CFDs on assets available to trade, in general the range offered is good. There are 50 forex pairs, and dozens of commodities and cryptocurrencies that can be traded. All the largest global indices and shares are also available on the platform.
ROInvesting offers the Metatrader 4 charting platform as its flagship desktop system, which is excellent news. Metatrader 4 has long been recognized as one of the best charting platforms for technical trading. It comes with a huge number of preinstalled indicators, and you can add up to 2,000 free indicators. There are also thousands of other paid indicators available, as well as customized Expert Advisors that allow automated trading.
In short, Metatrader 4 has everything a trader needs to become more successful.
Mobile Trading Platform
ROInvest also offers the Metatrader 4 mobile trading app, and while we are not ones to trade on our smartphones, we know there are many traders these days who love to use an app for trading. The app is available for both iOS and Android devices, so it doesn’t matter if you’ve got a Samsung, LG, Apple or any other smartphone.
The app has a more limited set of indicators when compared with the desktop MT4, but also comes with one-touch trading, a news feed, and in-app chat.
The Web Trader isn’t MT4, but it does offer the benefit of not needing a download. And you can use it on any device with a web browser and internet connection. This makes it extremely convenient. While it’s missing advanced trading analysis tools, it has all the basics necessary for viewing and basic charting, as well as trading through an intuitive interface.
There is a $250 minimum deposit at ROInvesting, which some might complain about, however we think it’s a good way to make sure prospective traders are actually committed before trading. There are no deposit fees and the broker accepts deposits from credit/debit cards and via bank transfer, as well as via a number of eWallets.
Withdrawals greater than €100 incur no fees either, but funds must be withdrawn to the same account where the deposit originated. Also, in accounts that have no trades or only 1 trade there will be a €50 charge, which some people may not find fair.
Having a good trading experience could come down to the customer service experience if you find that you need some help or even a clarification. Poor customer service could make even something simple painful, while good customer service can turn a near disaster into a positive experience.
At ROInvesting we think you’ll find the customer service staff is excellent at their job, both knowledgeable and professional. And those who choose the gold and platinum account tiers get a dedicated account manager too, which can make all the difference.
Support is available over the telephone, via email and online chat, or through a web-based inquiry form. The only downside is that support is only available from 7:00 GMT to 17:00 GMT, but that’s 7 days a week and covers the main trading times.
ROInvesting provides a solid all-around trading experience and the advanced account security you would expect from a 21st century broker. The inclusion of Metatrader 4 is excellent, the array of CFDs on currency pairs, commodities, and cryptocurrencies will give any trader plenty of markets.
Beginning traders will appreciate the education center and helpful customer support, while professional traders can take advantage of perks that improve trading conditions.
Of course, being licensed and regulated by CySEC is a big positive in favor of the broker and offsets the lack of history that might worry some traders.
Overall, we believe your trading experience at ROInvesting will be good, and they could become your newest favorite broker.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of our clients’ accounts loses money when trading CFDs.