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ROInvesting: Trading Forex, St

Latest release: 1.5.69-roinvesting ( 25th August 2021 ) 🔍 Last analysed 2nd November 2022 . Can't send or receive bitcoins Not updated in a while
10 thousand

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The Analysis 

App Description

This is another MetaTrader4 affiliated trading site which allows users to trade: stocks, commodities, indices, cryptocurrencies, and Forex. Trading cryptocurrencies is done via CFDs.

The Site

The site has a “How to Trade Cryptocurrency” page which states:

ROInvesting is one of the leading financial service providers. It delivers powerful technology for trading CFDs on cryptocurrencies, commodities, Forex pairs, stocks, indices.

Funding is done via EUR, USD or GBP through, credit card, bank transfer or e-wallet.

Withdrawal can be done through the same channels as the deposit.

Verdict

This app cannot send or receive bitcoins.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

No send/receive!

Can it send and receive bitcoins?

If the answer is "no", we mark it as "Can't send or receive bitcoins".

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

But we also ask:

Stale!

Was the product updated during the last year?

If the answer is "no", we mark it as "Not updated in a while".

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a year are probably not well maintained.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.