Scammed with 29000 euro by ROInvesting.com

Forex1413

Recruit
Messages
8
Hello traders,

I opened an account with GMO Trading (now ROInvesting.com) in december last year.
My MT4 account number is 83171469
I managed to make a profit of some 29000 euro.
Suddenly on 26.02.2020 ROInvesting cancelled all my trades saying i used a scalper which is bull**** since all my trades are manual.
They have clauses like "• scalping trade or placing and closing orders or entering into positions for an arbitrarily short period of time" or "should we determine, in our sole discretion..."
These are clearly abusive clauses made for them to interpret "in their sole discretion"

I also posted a review for ROInvesting.com on FPA and will link this thread here when the review will be approved.
 

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4evermaat

2nd Lieutenant
Messages
2,014
> Can you login from desktop trading platform and submit the full account history statement? Use this tutorial: https://www.forexpeacearmy.com/comm...ccount-trade-history-statements-part-1.63543/

Also, any chats or email from the company could be placed here as screenshot or screen video (bandicam / thundersoft)

> Have you written a review of the company? https://www.forexpeacearmy.com/forex-reviews/14654/ROInvesting-forex-brokers

> familiarize yourself with FPA's Traders court rules: https://www.forexpeacearmy.com/community/threads/new-traders-court.58022/

> after 96 hours, you may formally invite the company here: https://www.forexpeacearmy.com/comm...how-to-invite-a-company-to-your-thread.58438/

> Do NOT abandon this thread. Every week, check back to report any updates from the company and/or respond to any unanswered inquiries.
 

Forex1413

Recruit
Messages
8
Hi 4evermaat,
I have attached the detailed statement here, editing only my name.
Also a screen shot of emails.
I have submitted a review, waiting for my review to be approved.
Also waiting for 96 hours to pass to invite RoInvesting.com here to this thread.

Ty for your support!
 

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Forex1413

Recruit
Messages
8
Here is some additional info as requested.
Posted screenshots of active account and withdrawal of funds.
 

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Forex1413

Recruit
Messages
8
That's extreme, but compared to the one where the client was up over 3.5million from 15k starting balance (15 month period). The broker disconnected the account until the trades went back into the negative. She was able to get reconnected and withdrawal $800k (luckily).

------------------------------------------

You might want to gather a snapshot of your original withdrawal request. Should show the amount, date/time stamp, and method to withdrawal.

And another one of your client profile/email that shows your account already fully verified.

Wow. Just wow. I am just wondering how this companies have the guts to do something like this.
I asume this was a regulated broker?
Money is one thing but risking going to jail over such behavior..i mean can they get away with anything without consequences?
It seems to me that regulators are hand in hand with brokers when it comes to stealing traders money.
I mean when you lose money with a broker it's gone forever, but when you make money (and brokers lose) the broker can just wipe away your profits just like that. Amazing.
If I was a regulator I would set a rule that if one broker is found guilty of not paying say 3 times, I would revoke that broker's license.
But it seems that's not the case.

As an aside, what do you think are the chances of me recovering my funds?
 

Forex1413

Recruit
Messages
8
Just posted additional info on scamalerts, I would appreciate I we continue the discussion there, maybe some other traders will chime in.

Also, do you know how many days it takes for a review to be posted? It's been 48 hours already and my review is not posted yet.
 

4evermaat

2nd Lieutenant
Messages
2,014
Wow. Just wow. I am just wondering how this companies have the guts to do something like this.
I asume this was a regulated broker?
Money is one thing but risking going to jail over such behavior..i mean can they get away with anything without consequences?
It seems to me that regulators are hand in hand with brokers when it comes to stealing traders money.
I mean when you lose money with a broker it's gone forever, but when you make money (and brokers lose) the broker can just wipe away your profits just like that. Amazing.
If I was a regulator I would set a rule that if one broker is found guilty of not paying say 3 times, I would revoke that broker's license.
But it seems that's not the case.
1) Most regulators are not very competent.

2) the regulator can only do so much. OTC products are similar to going to a wet market or a farmers/flea market. You negotiate directly with who you trade with and must take some responsibility for whom you trade with.

3) Bad bucketshops masquerading as legit brokers love to take advantage of people's ignorance. Remember:

"...The goal of the con artist is not to convince the skeptic. But instead to allow the fool to continue to believe whatever they want to believe."​

As an aside, what do you think are the chances of me recovering my funds?

Evidence gathered is pretty solid. Cyprus isn't the best regulatory district, but it is better than nothing. So we will see how the broker responds.

Reviews can take up to 3-5 days to be posted, depending on how busy forum staff is.
 

Forex1413

Recruit
Messages
8
We'll see how it goes...
Can i invite the broker to this conversation?
I don't see any button for that.
 

4evermaat

2nd Lieutenant
Messages
2,014

Forex1413

Recruit
Messages
8
The OP has invited the company to this discussion on Mar 11, 2020 at 10:21 AM
 
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