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Is ROIFX a broker using MT5?
ElizabetJamison
Montenegro
2023-05-30
ANSWER ROIFX is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.ROIFX claims to hold the company number 14274737 issued by the Companies House (CH). While it is true that corresponding records exist in the CH register, it is crucial to note that the CH only serves as a registrar of companies in the CH and is not empowered to regulate the financial industry. Mere registration with the CH doesn't grant the authorization to legally offer financial products or services. In addition, the UK Financial Conduct Authority (FCA), a recognized financial regulator, has issued a warning against ROIFX for illegally operating in the country without proper authorization.Regarding your question, we strongly suggest avoid dealing with ROIFX since it is an unlicensed broker. If dealing with an unlicensed broker, investors will expose themselves to significant risks, including financial losses and identity theft because there are no rules to safeguard them. Therefore, to avoid such risks, it is advisable to stay away from unlicensed brokers like ROIFX and opt for fully regulated ones.
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