“Lucrative trading opportunities”? We highly doubt it and we intend to debunk this fake brokerage using facts.
Our thesis statement is this – Roi Republic is an anonymous scam broker with a fraudulent platform and no license. Evidence is found in the Roi Republic Review.
No address, no company name and no phone number. So much for transparency. Nevertheless, we checked some other reviews of Roi Republic and most of them are in German.
It seems like that’s our first stop. Roi Republic has offered services to German clients but the broker is not registered with Germany’s Federal Financial Supervisory Authority (BaFin).
That’s a direct violation of Section 54 of the German Banking Act (KWG), which says it is a criminal offense to carry on a business that requires a permit without the necessary license.
We checked the registers of more regulators that operate under the jurisdiction of the European Securities and Markets Authority (ESMA) and found no entity by this name.
Neither the UK’s FCA, Australian ASIC, nor the US CFTC & NFA have info on this broker. Therefore, the Roi Republic regulation doesn’t exist.
Roi Republic is an anonymous scammer that offers an ineffective trading platform for FX, CFD, and crypto trading. This fraudster has been targeting traders from Germany, Austria, Turkey, the UK, and the US.
Roi Republic is unlicensed, we got that out of the way. Now, let’s see where this illicit broker tried to find victims.
Based on the reviews and complaints we found, Roi Republic was mainly active in Germany. If you have any useful info about this scam, please let us know so we could inform BaFin and other regulators.
Roi Republic really was up to no good. We found only two complaints against the broker, both coming from German clients.
We translated one complaint from a user that said payments were delayed, adding that Roi Republic was persistent and pushy. This client clearly wanted his/her money back.
I got the 250 USD deposit back via PayPal. Not harmed, but I still get contacted all the time.
Payouts are constantly delayed. Supposedly there is too much money in the account and you still have to open a crypto account…
Roi Republic advertises three different platforms – CFD, ETF, and margin trading platforms. However, it’s essentially the same platform and we got to see it.
The broker’s trading tool is a recycled WebTrader with some basic charts and graphs that you can access via any browser. Do not fall for this lie, Roi Republic doesn’t support valid third-party trading software such as MT4, MT5 or cTrader.
To make matters worse, Roi Republic is not licensed to provide trading services so this WebTrader may as well be rigged and manipulated.
Here’s an overview of Roi Republic’s trading instruments:
“Tight spreads”, says Roi Republic. That means little to us since we weren’t given the exact pip level. As for the commissions, the shady broker claims they are zero.
A combination of tight spreads and zero commissions is tempting but it could also be a trap. Especially if you’re trading with an unregulated broker.
According to the broker’s website, there are five different account types:
Here, the broker says that the minimum deposit is 10,000 $ but in the FAQ section, we read 250 $, which has been confirmed in one of the complaints against Roi Republic.
As you can see, the leverage levels are extremely high, which is a double-edged sword. Top regulators have limited the allowed leverage to 1:30 for retail clients for safety reasons.
Roi Republic also offers a welcome bonus ranging from 10% to 40% depending on the account type. ESMA banned brokers from issuing bonuses because they are often used in scams. Trading fraudsters award bonuses with strings attached.
Despite claiming to offer a free demo account, we believe that Roi Republic doesn’t give anything for free. The chances of there actually being a demo account are low.
We did get to see the oversimplified web-based platform but not to trade. Investing real money into this scam is not worth the risk.
On Roi Republic’s website, we read about multiple awards. The financial swindler claims to have received awards such as “Best Forex Broker” without mentioning the year.
It’s all lies and we’re ready to bet on it. Roi Republic is not even licensed to provide Forex trading services.
In the FAQ section, Roi Republic listed the following payment methods:
The minimum deposit is 250 $ with no related fees. The Roi Republic withdrawal process allegedly takes from two to four business days.
We wouldn’t be surprised if we heard about users having withdrawal issues with Roi Republic. This broker cannot be trusted but at least the payment methods allow for a chargeback or recall.
Roi Republic doesn’t even have Terms and Conditions. If you’re having issues with this broker, please explain to us in detail what happened.
We are ready to report the Roi Republic trading scam to financial market watchdogs. Also, we can help you get your money back.
Global Fraud Protection has a team of experts that have experience with bank chargebacks, recalls and crypto-tracing software such as CipherTrace.
If this broker steals your money, start the chargeback process. If you’re unsure what to do, book your free consultation with us using Online Chat.
No. Roi Republic is an anonymous scam broker with no trading license. Do not invest. If you already did, call us for help.
The broker promises a free demo account but we highly doubt there is one.
Roi Republic’s trading platform is web-based so there’s no need for a mobile app.
Absolutely not. Roi Republic is an unregulated cyber trading scam.
No. Roi Republic is an anonymous scam broker with no trading license. Do not invest. If you already did, call us for help.
The broker promises a free demo account but we highly doubt there is one.
Roi Republic’s trading platform is web-based so there’s no need for a mobile app.
Absolutely not. Roi Republic is an unregulated cyber trading scam.
The post Roi Republic Review – The Fraud We Have Ever Seen appeared first on Global Fraud Protection.
