RogerFin Review

RogerFin Review: Another day, Another Scam Broker

It was tough to find any general information on this broker. Well, they don’t care enough to present themselves to the world and their traders. We don’t care about trying to cover up their professional negligence to the simple details. Let’s proceed with our review. However, there is not much to talk about, to be honest…

Trading Accounts and Conditions

If you’ve been thinking o finding a new broker company and RogerFin seems attractive to you, make sure you read our review first. There are several serious issues about this broker.

RogerFin is a forex broker that offers four account types, as well as access to Leverate’s Activ8 platform.

However, the company’s website is virtually anonymous; they also have no legit license.

RogerFin Review: Red Flags

Here are all the red flags that were plastered all over the RogerFin’s website.

Unregulated website

Our primary concern with RogerFin is that their website is completely anonymous. That means that we were unable to find any contact number, nowhere in their presentation do they bother to tell us the name of the company that runs the broker.  In other words, clients of this broker do not know who is dealing with their money.  Thus their money can disappear at any given moment as none of them have assurance whatsoever for the security of their funds.

It is no wonder that the broker itself is unregulated and not licensed.  That is another major red flag regarding RogerFin.

Blacklisted by the FCA

Being an unregulated, anonymous broker, is bad enough. But you know what’s worse? Being blacklisted.  RogerFin is not allowed to operate on any regulated financial forex and CFD market. The UK’s Financial Conduct Authority has officially blacklisted the broker as a potential scammer.

RogerFin Review: Spreads not disclosed

The lack of clarity regarding a broker’s trading costs is always a worrisome sign. RogerFin’s website doesn’t reveal any spreads. Also, there is no demo account.  In addition to all of the mentioned above, the lack of corporate information and regulations is more than problematic.

RogerFin Account types

The only well-written and well explained part of the website was the account type list. That’s all.

• Bronze Account Type

Minimum Deposit – EUR 500

Maximum Leverage – 1:200

Spread – N/A

• Silver Account Type

Minimum Deposit – UR 5 000

Maximum Leverage – 1:300

Spread – N/A

• Gold Account Type

Minimum Deposit – EUR 25 000

Maximum Leverage – 1:400

Spread – N/A

• Black Account Type

Minimum Deposit – N/A

Maximum Leverage – 1:200

Spread – N/A

Platform? What platform? MetaTrader not supported

We always feel a bit disappointed when a forex broker doesn’t support MT4 or MT5 platforms.

RogerFin deposit and withdrawal methods

Rogerfin is not at all clear about the payment methods they accept. Just bear in mind that most brokers accept wire transfers, cards like VISA and MasterCard, and popular e-wallets like Neteller and Skrill.

Through the Rogerfin Client Agreement, we came across a couple of rather disturbing details. For example, the company will charge its trader 30 USD for every withdrawal request. Also, they reserve the right to change their withdrawal policy on their sole discretion.

RogerFin: Suspicious Trading Bonuses

Trading bonuses come with additional withdrawal conditions. Be aware of any trading bonuses Rogerfin might offer you. RogerFin reserves the right to change their bonus policy without notice, whenever they feel like it.

The broker also charges commissions for deposit and withdraw of funds, without specifying what, and also reserves the right to charge you a fixed payment of 100 USD every three months.

Otherwise, the minimum deposit requirement is 500 USD, and this is more than twice the amount most brokers would usually ask for.

RogerFin Review: Conclusion

There are several red flags regarding this broker, which incline us to believe that it might be involved in some investment scam. Our best advice is that you should stay away from RogerFin and its kind.

Once again, the highlights of our recap of RogerFin:

• Anonymous, unregulated website
• Blacklisted by the FCA
• Spreads not disclosed
• No MetaTrader
• Relatively high initial deposit required

EDIT: the website is down now. Luckily, no one will get scammed any more. We were lucky enough to find it and spread the word about its fraudulent activity.