logo |

News

    Home   >     Original    >     Main body

    Unscrupulous Roinvesting Blocked Investor’s €30,000 Withdrawal

    Abstract:Though investors have raised their awareness against forex scams after more and more illegal platforms are exposed, the scam brokers keep coming up with new tricks to defraud investors.

      Exposed broker: Roinvesting(belongs to the same company with GMO Trading)

      Regulatory status: unregulated

      Complained by: an anonymous investor

      Cause of complaint: investor cannot withdraw money

      Though investors have raised their awareness against forex scams after more and more illegal platforms are exposed, the scam brokers keep coming up with new tricks to defraud investors.

      Recently, WikiFX received a complaint message from a Cypriot investor. Having signed up and made deposit at GMO Trading ran by the broker Royal Forex, the investor found his account suddenly transferred to Roinvesting, another trading platform owned by the same company.

      As the latter has no valid regulation, investor has not been able to completely withdraw his funds to date.

      Event recap

      According to the investor, he signed up at GMO Trading during December last year.

      He benefited from the great volatility of the forex market at the turn of the year and made considerable gains through trading. It was during this time that investor noticed that GMO Trading's website (www.gmotrading.com) had been redirected to the page of Roinvesting. As the content of the redirected website remained unchanged, and the investor was profiting, he didn't pay much attention to the change of the title.

    1-1.jpg

      But what happened next threw a damper on the investor. On February 26th, 2020, the platform abruptly canceled all transactions of the investor for alleged violation of the platform's regulations in trading, while sending him a detail explanation of this so-called violation. Yet the explanations didn't sound very convincing. And after the investor argued over these reasons provided by the broker bit by bit, he received no further reply about the matter from the broker.

      Up till now, apart from his initial deposit which the broker agreed to refund, the investor has as much as €29,000 of profit unavailable at the platform.

    1-2.jpg

    1-3.jpg

      The explanation of the broker and investor's argument

    1-4.jpg

      Part of the investors trading records

      About Roinvesting

      Through investigation, WikiFX found that the website www.gmotrading.com is redirected to the page of Roinvesting. Why do domain names of both platforms lead to the same website?And how is Roinvesting able to run its website under the name of GMO Trading? Previous investigation suggests GMO Trading is under valid regulation while Roinvesting is not, and with all these irregularities, we suspect that Roinvesting is no more than a scam broker who engages in illegal practices under the cover of GMO Trading and defrauds investors by exploiting the information gap.

    2(英文).jpg
    GMO英文.jpg

      Conclusion

      Though forex investment scams are constantly being exposed, the illegal brokers are also becoming more sophisticated in their tricks. Therefore, investors need to stay alert and check a broker‘s profile on WikiFX App to ensure it’s truly compliant and credible. If you feel you are being scammed, keep key evidences and contact WikiFX for assistance to recover your money.

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Convertible Amount
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area