The regulation status is the first thing that the traders want to look at before getting involved with the broker. The financial service provider MUST be regulated. It is more than a mandate.
ROInvesting is a broker that complies with all the regulatory terms from MiFID 2 and CySEC. The broker voluntarily provides license number 269/15. This is not just a claim made by the broker. To back it up, the broker provides each and every document that the trader might need to see to put their trust back in.
The broker is a brand name for The popular brokerage firm Royal Forex Ltd. The firm itself handles two ventures: Royal Forex and GMO Trading.
The website of the broker is SSL certified and provides surplus safeguarding tools. Founded in 2017, ROInvesting is headquartered at City home 81, 3rd floor, 128-130 Limassol Avenue Strovolos, Nicosia.
The broker offers trading on various assets via three different trading accounts and all the assets are cfd tradable. Traders have to keep in mind that cfds are complex trading instruments and traders are at a high risk of losing money while cfd trading.
Forex trading is one of the best ways to earn money, but the hangovers can kill you when done with a leverage-cfd cocktail.
However, with this trader, it is safe to trade on cfd with this broker. The idea from the novice trader’s end is to make no mistakes until the time it is impossible to omit them due to market conditions.
How to open an account with ROInvesting:
- Traders can log on to the website of the broker
- Click on the “about” button.”
- Click on the “account types button.”
- After this, the trader has to provide some personal information about themselves, and soon after, they are ready with their trading accounts.
Below is a snapshot of the trading account types window. It can be seen that the broker offers three different trading accounts. The silver account, Platinum account and the gold account.
Each account has a different set of services that customers can enjoy. The silver account, which is mostly advised for novice traders, offers leverage of 1:30. If the professionals want to take a jab at forex trading, the same account offers 1:400/500 leverage. The platinum account comes with a dedicated accounts manager and customised news, and a free virtual private server. The swap discount on this account is 50%.
It is a chart of the gold account specifications. What traders fail to notice here sometimes is that the spread for all the currency pairs is kept at a bare minimum. This is good for novice traders because most traders trade in forex, including the one’s for whom it is the first day of the market.
If the trader is trading on indices like the DAX, then the spread can reach up to ten times that of currency pairs. The gold account comes with services like a dedicated accounts manager, the ability to use it as an Islamic account and a swap discount of 25%. The traders can also access customer support for 10 hours a day and trade up to the fifth decimal. The Gold Account can also be used for hedging purposes.
How to get a demo account with ROInvesting?
The traders can go on to cdn.roinvesting.com to open a demo account with the broker. The traders can click on the OPEN DEMO ACCOUNT button and then open a demo account with the broker. The platform offered by the broker is MetaTrader 4, and the traders can use that platform to learn about trading.
The demo account is the best thing to learn to trade. Generally, traders are given a demo account within 7 days of opening an account with the broker, and the validity for this account is around 30 days.
Let us have a look at the demo trading account provided by MT4. This screenshot shows how to open a demo account with a specific broker if you have directly downloaded the application. The platform also offers a functionality where the traders can log into their pre-existing accounts.
The demo account can be used to learn about how to trade in terms of charts, indicators, and a lot more. The MT4 trading platform is one of the best out there for trading in currency pairs.
It has to be kept in mind that traders have to learn to trade before they actually trade. The starting amount that the traders are provided in a demo trading account is around 100,000 units of bot currency. This currency can be used to make real trades. There will be profits, and there will be losses, but everything will be in a bot sense. The trades will be real. The money won’t be.
How to use charts with ROInvesting?
Charts are the same, irrelevant of the broker you are trading with. Different brokers have different platforms, and there are cases where a lot of brokers provide the same platform for trading. Each platform has a standard process where they provide trading to the traders. If we talk about ROInvesting, the preferred trading platform there is the MT4 trading platform.
Now, the MT4 trading platform has different charts and many indicators that the traders can use for making trades. The way to use charts is also not different or unique with this broker. All you need is the knowledge to read charts. Back in the day, all of them had charts, but only Columbus could find America.
Similarly, charts are the same on almost every platform. The difference co,mes in with the ability of the trader to use them. Let us have a look at different charts the trading platform MT4 has to offer. Given below is a line chart for the currency pair EUR/USD. As you may understand, there is not much that can be said about the price movements of the currency pair via this type of chart. The whole idea to use the chart is to granules the price movement on a graphical level of representation.
This is a Candlestick chart for the currency pair GBP USD, and this is a 6-day chart. The technical traders who are heavily dependent on charts for their intraday, don’t use a six-day chart. They are more inclined towards a minute chart. Those charts can clearly tell how the currency pair has or is moving throughout the trading day.
It does not matter which broker you are associated with. If the offered trading platform is MT4, this is how it will, look when you trade on currency pairs. Traders should know that the metatrader4 is one of the best trading platforms, specifically designed for trading in currency pairs.
How to use leverage in funds with ROInvesting?
Leverage is a concept that traders can use to trade on the market bigger than their initial capital. Simply put, the broker provides or lends the trader some money that the trader can use for trading. Let us assume that the broker provides leverage in the form of 1:1000.
Now, this should be read as: the trader can control the market worth $1000 with $1. However, this is not a good condition as such leverage can put anybody on the street.
The broker ROInvesting provides different leverage for different assets.
- Forex 1:500
- Indices 1:20
- stocks 1:5
- Cryptocurrencies 1:2
- Commodities: 1:25
- Metals 1:125
Below is the list that portrays the leverage of some stocks. These stocks come with a 1:10 leverage, more than the traditional 1>5 leverage provided with stocks.
How to deposit funds in the broker’s account?
The broker offers different options to deposit funds into the broker account.
The broker provides the traders with an option to deposit the funds via a plethora of methods like wire transfer, Neteller, Skrill, debit and credit cards.
The traders can also withdraw their funds via the client portal area that the broker provides. All the requests that are made via the client portal area are subjected to the withdrawal policy of the broker, where the minimum request has to be at least 50 Euros. Also, if there is less trading activity from the trader’s end then there is an inactivity fee that has to be paid by the trader.
The withdrawal requests have to be made by filling an online form as shown below:
The broker is great in trending terms for novice traders, and if people want to trade cfds on forex, this is the broker for them.