Roiteks.com is an unregulated investment brokerage targeted at Forex and CFDs traders. There is scarce information pertaining to this brokerage. It seems that all this was planned and is not a coincidence at all. The only information that we have can be found far down the site on the footer, and it basically talks of how financial trading is a risky business. There are also a couple of logos/trade marks in that area which suggests that Roiteks is working with the aforementioned brands.
On the fine print, we learn that Roiteks is the property of an entity called Green Oak LTD, a company that is registered in Bulgaria (since they are giving us a Bulgarian physical address). Confirming this address would be an effort in futility.
Although judging a site based on its location is something that we definitely don’t endeavor to do, Bulgaria is infamous for hosting unregulated investment brokerages.Once bitten, twice shy. We would be using this information to arrive at a conclusion. Also, this discovery just goes on to prove that Roiteks is one of those many unregulated investment brokerages enjoying the luxury that this country is affording them as far as regulations are concerned.
Roiteks claims to have offices in the UK and Seychelles. They have surprisingly provided a UK phone number and an email address which suggests that one of their offices are based in the UK.
Roiteks is a relatively new investment brokerage because it was launched in November 2017. Many new investment brokerages choose to seek licensing in Seychelles. That’s the most likely reason why Roiteks has a presence in this country. They want to obtain a nominal license because it is apparently easier to get one from Seychelles than from anywhere else.
We now understand that just like several other new investment brokerages that pop up on the internet, Roiteks is looking for an easy way into the industry. An easy way would mean getting licensing from regulators who don’t put a lot of hurdles on the way. This tends to favor scammers too due to the limited financial baggage and other requirements that come with seeking a license in a jurisdiction that is not heavily regulated.
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This investment brokerage offers trading options for Forex and Cryptocurrencies-based CFDs. Their product range consists of a massive selection of fiat and Crypto or Crypto and Crypto pairs which users can trade.
Some people have asserted that Roiteks is purely a Cryptocurrency CFD investment brokerage, which to some extent is true given their product selection targeting those who would like to trade Cryptos.
The brokerage has even paired a number of exotic assets as users can allegedly trade pairs like BTC/Gold.
Roiteks runs Spot5 trading platform. which is quite easy to use but crude at first glance. Moreover, it lacks sophistication, and cannot be compared with the mainstream options like MT4.
The trading platform is web-based. Users do not have to download any file in order to access the trading interface. What is more, Roiteks offers a free account as well. But for users to try out this feature, they will be required to submit a wide range of personal data which some people may not be comfortable with.
Unfortunately, Roiteks does not divulge any information regarding their trading conditions. We believe that trading conditions are more important than even the account itself. If traders cannot ascertain what conditions they will be trading in, then it’s not worth giving it a try at all.
Roiteks is an unregulated investment brokerage. That is something you should be concerned with because it’s a serious red flag.
The site has also proved to partner with a number of shady auto trading deals. Most of these scam platforms are nothing more than client acquisition channels where victims are persuaded and channeled into questionable brokerages like Roiteks.
This brokerage is based in Bulgaria, and was launched in November 2017. It is still new compared to a number of more established brokerages on the internet. These folks have not built a reputation yet.
Since it’s very new, you must use caution because lack of it will result in unnecessarily risking your funds. At this point in time, we are waiting for user feedback to surface on the internet. When that happens, we can know for sure that this is a place to be avoided at all cost.
Roiteks is also operating on a domain that has been registered through Domains for Proxy. That means no information has been provided about the actual owner. The question you should ask yourself is this: why would an investment brokerage who purports to provide legit investment services hide their identity while asking money from members of the public in exchange for what they offer?
If they were legit and had nothing to hide, they would have openly registered the domain.
When we consider everything that has been discussed in this review, we can say that trusting this investment brokerage would be a big mistake.
The thing you must remember is that they are not regulated, and that means they are free to operate the way they want. They can set their own prices, plus investors funds are definitely not secure in the hands of an unregulated broker.That is the major reason why you should never trust Roiteks.
We need these problems sorted out as soon as possible (if we are to review this post a second time with the relevant updates). As it currently is, this brokerage is triggering a lot of red flags and big question marks. These things need to be addressed. But if they continue to ignore them, it will be to their own peril and not that of the investors. Traders are nowadays more informed than ever. Traders can only sign up with investment brokerage that are licensed and reputable. Unfortunately, Roiteks lacks these qualities. It will have to fall by the wayside until they bring it up to speed.
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4 Replies to “Roiteks Review: Not Licensed, Is It Scam?”
Dear All Readers,
I have been scammed and lied from ROITEKS officials ( AMIR BACKHOUSE / KATE / KABIR ALI / JHON EDGAR ) and many more running the show.
It’s an ISLAND based company ( Majuro ) and are linked with PRIMEBROKERZ too.
I have their official emails that they have made a profit of $13,000+ from my money. But now they don’t even reply, the dispute case has been closed but still they don’t want to return my money 🙁
They are complete liars and I have lost $12,000, where as it was just in my wallet. I had disputed a transaction and my bank promised to help me but after 4 months, my bank can not catch them and is unable to fetch this amount or report to higher authorities.
PLEASE STAY AWAY FROM ROITEKS AND DONT BELEIVE THEM AT ALL.
Agreed, they did the same to me, stay away from the Roiteks.
I concur with all the above, the names are identical and getting them to repsond to emails requesing return of funds ends in silence. Based on my own personal experience Roiteks is a total scam and should not be untrusted with any money whatsoever
They are SCAM !!!! Stay away !!!