ROITEKS Forex Broker

Roiteks Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　Roiteks broker, established in November 2017, is an unlicensed forex and cryptocurrency trading platform. The company operates under the name Green Oak Ltd, which is registered in Sofia, Bulgaria. While it claims to have a presence in various locations, including a contact number in the UK, its primary operations are based out of Bulgaria. Roiteks is privately held and has not pursued any public listing.

　　The broker primarily targets retail clients interested in trading forex and CFDs (Contracts for Difference) across a diverse range of assets. Since its inception, Roiteks has aimed to provide a user-friendly trading environment, particularly for newcomers to the market. However, the lack of regulatory oversight raises concerns about its operational integrity.

　　Roiteks operates as a subsidiary of Vantu Capital Ltd, which is registered in the Marshall Islands, a known offshore jurisdiction. This relationship has led to questions about the credibility and reliability of the broker's services. The business model focuses on retail forex trading, offering a variety of financial instruments including currency pairs, commodities, indices, and cryptocurrencies.

2. Regulatory and Compliance Information

　　Roiteks broker operates without a license from any major regulatory authority, which is a significant red flag for potential investors. The primary regulatory bodies that oversee trading firms, such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC), do not recognize Roiteks as a legitimate broker.

• Regulatory Authorities: No valid licenses from major authorities such as FCA or ASIC.
• Regulatory Numbers: Not applicable as Roiteks is unlicensed.
• License Validity and Scope: The absence of a license means there is no oversight, which can lead to potential malpractice.
• Legal Entities: Registered as Green Oak Ltd in Bulgaria and Vantu Capital Ltd in the Marshall Islands.
• Client Fund Segregation Policy: There is no evidence of a client fund segregation policy in place.
• Investor Compensation Fund Participation: Roiteks does not participate in any investor compensation schemes, leaving clients vulnerable in case of insolvency.
• KYC and AML Compliance: While Roiteks may have KYC (Know Your Customer) and AML (Anti-Money Laundering) measures, the lack of regulatory oversight raises questions about their effectiveness.

3. Trading Products and Services

　　Roiteks broker offers a diverse array of trading products, including:

• Forex Currency Pairs: A wide selection of both major and minor currency pairs, although specific numbers are not disclosed.
• CFD Products: The platform provides CFDs on indices, commodities, individual stocks, and a range of cryptocurrencies such as Bitcoin, Ethereum, and others.
• Unique Trading Instruments: Roiteks claims to offer unique trading options, including exotic currency pairs and crypto-to-crypto trading.
• Product Update Frequency: There is no clear information on how frequently new products are added to their offerings.
• Retail Trading Services: Primarily focused on retail clients, Roiteks provides a straightforward trading experience.
• Institutional Client Services: There is no indication that Roiteks caters to institutional clients or offers white-label solutions.
• Asset Management Services: Information regarding asset management services is not provided.

4. Trading Platforms and Technology

　　Roiteks broker utilizes the Spot5 trading platform, which is web-based and does not require any downloads. This platform is designed to be user-friendly, particularly for novice traders, but lacks the sophistication and advanced features offered by industry-standard platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5).

• MetaTrader Support: Roiteks does not support MetaTrader platforms.
• Proprietary Platform Details: The Spot5 platform is simplistic and primarily offers basic charting capabilities.
• Web-Based Trading Platform: Accessible via web browsers, allowing trading from various devices.
• Mobile Application: There is no dedicated mobile application for iOS or Android.
• Execution Model: The execution model details are not clearly stated, but it operates on a market-making basis.
• Server Location and Infrastructure: Specifics about server locations and technical infrastructure are not disclosed.
• API Access and Automated Trading Support: There is no information available regarding API access for automated trading.

5. Account Types and Trading Conditions

　　Roiteks broker offers a single type of trading account, with the following conditions:

• Standard Account Conditions:
• Minimum Deposit: $250
• Spreads: Generally around 0.4 to 0.5 pips for major currency pairs.
• Commission: No commission on trades is stated.
• Advanced Account Types: No advanced or VIP account types are mentioned.
• Special Accounts: No Islamic or corporate accounts are offered.
• Demo Account Policy: A demo account is available, but it requires providing personal information.
• Leverage Ratios: Leverage can vary, with maximum ratios reported up to 1:200 for major pairs.
• Minimum Trade Size: The minimum trade size is $25.
• Overnight Fees: Specific policies on overnight fees are not provided.

6. Fund Management

　　Roiteks broker supports various deposit and withdrawal methods, including:

• Deposit Methods: Credit cards (Visa, MasterCard) and bank wire transfers.
• Minimum Deposit Requirements: $250 for trading accounts.
• Deposit Processing Time: Typically processed instantly for credit cards; bank transfers may take longer.
• Deposit Fees: No specific fees for deposits are mentioned.
• Withdrawal Methods and Restrictions: Withdrawals can be made via credit card or bank wire.
• Withdrawal Processing Time: Withdrawals may take up to 10 days to process.
• Withdrawal Fee Structure: No specific fees for withdrawals are disclosed.

7. Customer Support and Educational Resources

　　Roiteks broker offers several customer support channels:

• Support Channels: Available via phone, email, live chat, and social media.
• Service Hours and Time Zone Coverage: Customer support operates during business hours, but specific times are not disclosed.
• Multilingual Support: Support is primarily in English, with no information on additional languages.
• Educational Resources: The broker does not provide extensive educational materials or resources.
• Market Analysis Services: Limited market analysis services are available, with no specifics on frequency or type.
• Trading Tools: Basic trading tools such as calculators and economic calendars may be available, but details are not provided.

8. Regional Coverage and Restrictions

　　Roiteks broker aims to serve a global market, but there are notable restrictions:

• Primary Service Markets: Focused on retail clients globally, particularly in regions with less stringent regulations.
• Regional Office Distribution: Claims to have an office in the UK but operates mainly from Bulgaria and the Marshall Islands.
• Countries/Regions Not Accepted: Specific countries where clients are not accepted are not disclosed, but potential restrictions exist for jurisdictions with strict regulatory frameworks.
• Special Restrictions: The broker has been flagged by various regulatory authorities for operating without proper licensing, which may affect its ability to service clients in certain jurisdictions.

　　In conclusion, while Roiteks broker presents itself as a trading platform for forex and cryptocurrencies, the lack of regulatory oversight and transparency raises significant concerns for potential investors. It is advisable to approach with caution and consider alternatives that provide proper regulatory protection and support.