Founded in November 2017, Roiteks is a non-regulated CFD broker offering secure online trading in 150 assets across traditional currencies, cryptocurrencies, commodities, stocks and indices. Roiteks offers an award-winning, web-based platform, featuring multiple trading methods and expiry times. Read our balanced review below, to find out about the software features, payment methods, customer support and trading tools offered by Roiteks.
Roiteks Special Features
Customers can set up a live trading account with Roiteks in a few minutes, by filling in the initial account registration form, followed by a second more detailed form, requiring personal information. There is only one type of trading account available at Roiteks, designed to suit the needs and trading objectives of novice and advanced traders.
Notably, clients don’t need to make a real money deposit until they want to start trading on the platform. To get access to the trading platform, requires a minimum deposit of 250 EUR, USD, GBP and once the base currency has been selected, it cannot be changed. We were pleased to see that Roiteks does not charge fees or commissions for executing trades. However, the spreads are quite wide with the spread for EUR/USD from 2 pips. Importantly, all deposits, withdrawals and trading history can be viewed in the personal ‘my account’ section.
New and existing customers are offered reward features, including welcome bonuses, trading contests and awards by Roiteks. However, bonuses are governed by strict terms and conditions, so we recommend that customers consider any bonus offer carefully before accepting. Notably, once a bonus has been accepted it can’t be removed from the trading account. Before funds can be withdrawn from an account credited with a bonus, clients must execute a minimum trading volume of 25X the bonus and deposit in the time frame given on the website. Importantly for a trade to count to the bonus turnover requirements, it must be open for 24 hours.
Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!
Roiteks Trading Software Features
We saw that Roiteks offers customers, state-of-the-art trading on the Spot5 trading platform for Forex and CFD trading. Notably, the platform is web based, so it’s accessible from any internet connected device, irrespective of the operating system. The platform is very easy to use, enabling beginners in CFD trading to learn quickly. The rates displayed in the trading boxes are the quoted prices of the underlying assets based on live feeds from Reuters. Usually, the rates don’t reflect the exact market prices but those prices that Roiteks is willing to sell the options for. It’s important to realise that the rates at Roiteks are dynamic and change all the time. A blinking movement on the rates, shows a change in market price, with a green price showing an upward movement and a red price showing a downward movement.
A chart in the middle of the platform lets traders follow market movements at a glance. Importantly, the leverage offered to customers is shown on the platform with the various assets, and it’s up to traders to select the level they require up to 1:200. Additionally, traders can set the Stop loss and Take profit amount on the platform, in order to manage risk. We saw that the range of assets at Roiteks includes multiple cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Zcash, Litecoin, Ripple and Dash. The cryptocurrencies are paired with traditional currencies and provide potentially lucrative investment opportunities without needing to own the digital assets themselves. Traders who want to diversify their trading portfolio can choose stocks, indices and commodities in addition to currency CFDs. The minimum investment size on the Roiteks platform is $25 which is quite a large amount compared to other CFD brokers.
Roiteks Customer Support Information
Customers at Roiteks can contact the customer support team from Monday to Friday, 6 am GMT to 8 pm GMT. We saw that a Live chat messenger is available at the bottom of the webpage and an email address is given on the contact page. Alternatively, customers can call the telephone support helplines for South Africa, The United Kingdom, Singapore, New Zealand, Malaysia, Canada and Australia. We found the FAQs page, under the Info tab on the dashboard a useful place to discover the trading conditions at Roiteks. Moreover, the Asset Index gives traders all the information they need about each product on the trading platform along with the trading hours.
Roiteks Payment Methods
Roiteks supports deposits and withdrawals using credit/debit cards or bank wire transfers. Customers in South Africa and elsewhere, can rest assured that they won’t be charges deposit and withdrawal fees by Roiteks. Notably, the company pays all fees for bank wire transfers and does not charge fees for withdrawals to credit cards. However, the minimum withdrawal by credit card is 100 USD, GBP or EUR and by bank wire transfer 1,000 EUR, GBP or USD.
When requesting a withdrawal from Roiteks, customers must provide documents to verify their trading accounts. The required documents include colour copies of a government issued ID, recent utility bill or bank statement showing the customer’s name and address, a signed ‘declaration of deposit’ form and a copy front and back of the credit card used to fund the account. Customers are asked to block the CVV security code and all but the last 4 digits of the card for security reasons. Customers who deposit by bank wire transfer are not required to send a copy of the credit card.
Roiteks is a brand of Green Oak Ltd, a company registered at Rozova Dolina 26, Bulgaria 1000. The operational office is at Boulevard Totleben 53-55, 1606 Sofia, Bulgaria. Green Oak Ltd is a subsidiary of Vantu Capital Ltd, registered at the Trust Company Complex, Ajeltake Road, Majuro MH 96960.
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