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Why is Rootit BD a scam?

Started by Admin, May 13, 2023, 08:20 AM

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Topic keywords [SEO] scamRootitBD

Admin

This article contains the following information:
  • What is known about Rootit BD;
  • Undeniable evidence that Rootit BD is a scam;
  • Less significant indications that Rootit BD is a scam;

What other signs and evidence is there that Rootit BD is a scam?

As stated above, Rootit BD and his staff are no strangers to aggressive selling, insults, blatant stupidity, marketing tricks like promises of gigantic profits and slinging reviews. The documents on the website of Rootit BD are not present, not even an agreement of public offer, while there should be documents proving that the broker has a permission for brokerage activities, registration documents and probably some awards. The situation is almost the same as with the reviews in the search results, they are all similar to each other. The fact that Rootit BD doesn't hand over funds is a standard sign of a scam. Representatives of Rootit BD also like to send bad signals, which not only make no profit, but on the contrary, all the money is lost. The criminals often discount such signals in order to make a profit and get more commission, although it is more relevant for representatives of white investment firms that are scamming in this way. But too frequent technical malfunctions of the Rootit BD platform are also a standard sign of fraud.



Consequences of dealing with Rootit BD

What happens if you or anyone else ignores all the evidence mentioned in this material and decides to try working with Rootit BD? Let's find out. Let's take a review of Rootit BD from the Reddit forum:
"I am writing this review to share my traumatic experience with Rootit BD and to warn potential victims before they even consider giving their hard-earned money to this company. In my many years of trading experience I have never come across a more negative brokerage firm, and it has given me a bitter taste in my mouth and a big reduction in my confidence in trading in general.

Worst of all, it had a meaningful impact on me on an emotional level. Not only have I lost a tangible amount due to Rootit BD's incompetence, but the whole ordeal has left me with an aftertaste of betrayal and a strong distrust of the investment industry. I can't get rid of the painful memories of the dozens of hours used to resolve difficulties and recover financial losses triggered by the fraudulent nature of this office.

Personal experience of "trading" with a broker

The facts that have been mentioned before are enough to draw the only true conclusion about the essence of Rootit BD. We decided to double-check everything ourselves so we could be {100% sure.
We went through the registration, a Rootit BD employee called us back and immediately began to induce us to make a very large amount of money. We funded our account for the minimum amount of 25$ and tried to try tips which gives this broker. What happened after that? We lost almost all money in a couple of transactions and tried to get the money back, but they didn't give it to me. A Rootit BD employee called again and tried to persuade me to withdraw the money and vice versa to deposit the account again and make trades and according to him if I had done so I would have been compensated. True, it is unclear why they did not just refuse to compensate me, without me giving the manager my money again. It is easy to understand that even if I had done that, the managers would still not have withdrawn the money, not a cent.

What is known about Rootit BD

In a nutshell, almost nothing. The company appeared in 2022. What country it is based in is unknown. No credible information has emerged in just over half a year of the broker's existence. There is only black information about the brokerage, but first things first. We tried to find information on the net about the country where the office of this brokerage is located, but nothing was found in the end. On the contrary, a reputable company tries to be as open and transparent as possible, to notify their traders, so that our clients know whom they want to entrust their money, but it seems that those who own Rootit BD do not think so.
Initially it was clear that the degree of professionalism and competence at Rootit BD was clearly close to zero. Their site was always unreliable, with regular technical problems and a user interface that could only be described as ludicrous and illogical. This alone made transaction a nuisance, but the problems didn't end there.

Let's now move on to a comparison of what Rootit BD has and an adequate average company. How does a good brokerage platform have to function? A good investor platform is a key tool for traders, giving them the chance to access global markets and make informed investment decisions. A good platform should have both cent and trial trading in addition to the regular one.

In addition, a very important feature of a cool trading platform is the robust security features. Ensuring the security of clients' personal information and financial resources is crucial. A good marketplace should have good security features like two-step authentication, encryption and secure socket layer (SSL) methodology. All of these and other things should firmly protect traders from scams, account theft, or hacking into the brokerage site itself with a general data leak. None of this is anywhere near the Rootit BD platform.

When the situation came down to the key aspect of trader support, I was not in the least bit angry. Their staff were either unresponsive or unable to address my concerns with any semblance of competence. I realised that I was in contact with a robot and my requests for help were ignored. In that situation I urgently needed support in a situation of strong price movement, I was in a difficult position, and it eventually resulted in me losing a huge amount of money.

As we can see, not only did the person lose money and mental health, and in doing so did not gain any positive trading experience, exclusively disappointment in forex. If you look at the other reviews, there is generally the same content. The most frequent reasoning is about Rootit BD not withdrawing investments. People in addition write about the total incompetence of Rootit BD representatives. In reading the reviews of Rootit BD we have repeatedly seen reports of employees using explicit manipulation and using insults when talking to investors. A review of an adequate investment firm should say otherwise, or at least it shouldn't be so awful. In short, the reviews of Rootit BD also clearly show that Rootit BD is a common scam.

Comparing Rootit BD with an adequate office

This part of the article contains this information:
  • What an adequate brokerage firm's platform should look like;
  • What about the Rootit BD site;
  • Comparison of a normal trading floor with what Rootit BD has.

What should also be present on a normal broker's site? Research tools! A brokerage platform must give people access to research tools and resources. These can be financial news, analyst reports, corporate financial reports, technical analysis tools and more. These resources allow traders to make reasoned investment decisions, not just do whatever they want. And how can one make good investment decisions when all Rootit BD platform has is a calendar? Real brokerage firms make sure that their clients have everything they need to make wise decisions, as it directly affects the long term prospects of the partnership between them.

Rootit BD reviews

What do the reviews on Rootit BD say? Mostly about the scam and blatant unqualification of Rootit BD representatives. The ratio of positive to negative reviews is naturally in favour of negative ones. The good reviews on Rootit BD are similarly not all that simple. The thing is that all of them are too much of the same type and are posted not so long ago and in fact at the same time. All this indicates that these good reviews are fake. Below is one such review:
"Rootit BD is a great company! The company has a brokerage licence}. I earn 50-100% of the amount in my account per month and I dedicate fifteen minutes a day to it all. I recommend Rootit BD to anyone!"
Really cool company! The only one that can make an average person a multimillionaire in a few years, because he will receive one hundred and fifty to two hundred percent a month. We think it's pretty clear that this is a fake review.
We give you another review on Rootit BD written on Reddit:
"Rootit BD is the most profitable broker in the world. I don't understand why the broker is not yet #1 in the EU and US! The service is top notch and the employees at Rootit BD are the smartest. I have been with the broker for about four years and I am doing well."
Neither do we understand why this broker is not the best until now... among crooks.
Note that those people who corrected the reviews don't even understand Rootit BD "works" for only six months, but certainly not for several years, which say this trader interacts with Rootit BD. No evidence is given to prove that Rootit BD employees are "pretty smart".

Entrusting your money to Rootit BD is a decision you will surely worry about, as I do now. I am left with the bitter reality that this is the worst thing that could have happened to me as a trader and I am sure that personal experience knows a stopper for traders who, are considering giving their money to this disgusting brokerage company."

A proper investment platform should be available in both mobile and desktop versions. In today's fast-paced world, traders should be able to access their brokerage platform on the go. This, by the way, will allow to watch the rapidly changing situation and quickly sell or buy some instrument, if there is a good reason. A quality platform is bound to have an adaptive mobile app as well as a fully functional desktop version to suit all user preferences and needs.

The most important fact that confirms that Rootit BD is a scam

No doubt we are talking about the lack of regulation. The regulator performs a number of functions, especially inspections of brokerage offices, inspections of employees, examining financial statements and traders and checking the solvency of the company. But the most important task of the regulator is to prevent financial fraud. Money manipulation can be different, one of the variants being writing off funds from an investor without his permission, or misuse of client's money in operations which he did not approve. Shortly before the crisis of two thousand eight and nine, major US banking institutions were doing this on a massive scale. The client can, for example, recover the money through the regulator. The regulator has its own parameters according to which they check the qualifications of financial institution managers, including trading structures. In turn, this ensures that you are working with qualified professionals. Rootit BD does not have any kind of authorisation for brokerage activities, not even the regulation of some non-existent entity.
A good brokerage platform should have a user-friendly interface. A well-designed, intuitive user interface is essential for a trading floor. This ensures that investors will be able to easily navigate the marketplace, manage their accounts and make transactions with ease. There is nothing of the sort on Rootit BD. We have seen many different marketplaces and it is a very familiar thing, but only on this marketplace in spite of the big expiries it is difficult to navigate.
On a quality brokerage platform there should be a variety of investment possibilities. A quality investor platform must provide a sufficient range of investment products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This allows people to diversify their personal accounts and have access to many classes of currencies. There are a very huge number of instruments on the Rootit BD platform, but the catch is that Rootit BD scams and trading these instruments is not real, it is all virtual, like a game. When you buy a stock via Rootit BD you are not really acquiring anything because Rootit BD is unregulated and therefore not allowed to interact with the global exchanges and thus you are not really buying anything through a brokerage company on the exchange. By the way the Rootit BD not only has a bad usability but the platform is also pretty ugly from an aesthetic point of view.

Conclusion

You've seen it all. Rootit BD is different even amongst the scams. The company is so toxic that there is nowhere to put a branding on it. The reviews on Rootit BD that don't look like a scam are overflowing with criticism. People write time and again about investment not being refunded, reps being rude, the site being uncomfortable, constantly glitching, trading with Rootit BD leaves only bad memories. If you do not want you to encounter the same as the other traders, under no circumstances leave even your contact details on the site Rootit BD, or if you have already left them, immediately blacklist the numbers of managers and do not respond to them. If you do talk to the company's representatives, there is a risk that scammers with their skills and experience will be able to fool you and take your hard-earned money. This is because scammers do not only offer investments, they also try to gain the trust of their victims by befriending them and luring them with the promise of exorbitant profits.