Roco Broker

Roco Broker is a new forex broker registered under the trade name Roco Broker Ltd on the island of Mohéli, Comoros, and listed in Teagle's data with Egypt as its country. Roco has a Persian-language website, serves Iranian clients and offers six account types on MetaTrader 5; however, its legal structure and client agreement raise serious questions. In this overview, we review Roco based on Teagle's data and our review of its documents.

What kind of broker is Roco?

Roco is registered in Mohéli under registration number HT01024109 and has declared two physical addresses, in Podgorica (Montenegro) and New Cairo (Egypt). The broker claims more than 300 trading instruments and lists only the United States and North Korea as restricted. Its founding year is recorded in Teagle's data as 2024, meaning about 2 years of history; yet a claim of 12 years of experience has also been seen from it, which does not match a license number dating from 2024.

Roco Broker licenses and credibility

Roco relies on just one license: number BFX2024190 from the Mwali International Services Authority (MISA) on the island of Mohéli. In Teagle's license list, this same body is recorded with number HT01024109 and status "active". But this is an offshore license of the weakest tier: in a written response, the Central Bank of the Comoros called MISA "a fictitious entity with no real existence in the territory of the Union of the Comoros" and said it has no authority to issue financial licenses. No top-tier regulator is present in Roco's structure, and no compensation fund has been disclosed. If you are not familiar with license tiers, read the articles What are offshore and onshore brokers and the regulation tier guide .

Roco's client agreement: the biggest risk

In Teagle's view, Roco's biggest risk lies in its legal structure and dispute resolution. A 24-clause agreement has been published, but several of its clauses are noteworthy:

• Clause 21-5: the arbitrator for disputes is appointed by the same MISA that issued the broker's license; clauses 21-1 and 21-2 also set the governing law and competent court exclusively as the Comoros.
• Clause 21-6: waiver of judicial immunity, including regarding asset seizure before or after judgment.
• Clause 7-9: responsibility for negative balance lies with the client, and the company may deduct it from future deposits; this does not match the marketing pages' claims of negative balance protection.
• Clause 4-8: the company has no obligation to issue margin calls.
• Clause 8-7: a 3% fee on withdrawals without trading activity; and clause 8-4: balances of up to $1 are deducted after 90 days and donated to charity.

No clause mentions segregation of client funds, and the document itself has structural flaws such as missing clauses and duplicate numbering.

Roco trading accounts

All six Roco accounts come with no minimum deposit, floating spreads, 1:1000 leverage, a 100% margin call and a 40% stop-out, and none has an Islamic version:

• Lion, NANO-LION and LION SOCIAL: no commission and spreads from 1.2.
• CHEETAH and CHEETAH SOCIAL: raw spreads and an $8 commission per lot.
• NANO-CHEETAH: raw spreads and an 8-cent commission.

Nano accounts have a $200 deposit cap and a $500 balance cap and are suitable for testing the broker for real with a small amount. An important note for scalpers: under clause 7-3, closing a position within 60 seconds or less is prohibited, and clause 7-5 also restricts trading around news. Before choosing a trading style, get to know the concept of scalping and its limitations.

Roco platforms and services

Trading is done on MetaTrader 5 (Windows, Mac, Android and iOS) and the Roco WebTrader. Social trading is offered through a dedicated platform with separate provider and follower roles, and its ranking module also shows traders' negative returns and drawdowns; we have explained how this service differs from copy trading in our article on social trading and copy trading . Bonuses, cashback, rebates, education and an affiliate program are also listed among its services.

Deposits and withdrawals at Roco

Deposits and withdrawals in Tether (USDT), Ethereum and Bitcoin are stated to be fee-free with no minimum; for Visa and Mastercard, USDC and local gateways, fees vary by country and gateway. There are no Rial deposits, as Iran is not on the list of forty local-currency countries.

Roco's score and risk on Teagle

Roco's final score on Teagle is 1.73 out of 5, derived from three sources: Trustpilot 3.1, Teagle expert 1.2 and WikiFX 0.9; Teagle user ratings have not yet been recorded. Roco's Teagle Eye risk index is 70 out of 100, in the "high risk" category; the disputed license, low credibility scores and short track record have all pushed it up. You can also follow this broker on the high-risk broker warning list .

Roco Broker pros and cons

• Pro: published legal documents and transparent key account figures
• Pro: no minimum deposit and nano accounts for testing with a small amount
• Pro: fee-free crypto deposits and a Persian-language website
• Con: license from an authority the Central Bank of the Comoros has called fictitious, with arbitration chosen by that same authority
• Con: ban on scalping under 60 seconds and restrictions on news trading
• Con: negative balance responsibility on the client, no fund segregation and no Rial deposits

Who is Roco suitable for?

Teagle's editorial team does not recommend Roco as a primary option. Scalpers, news traders, those with significant capital and anyone who needs the possibility of independent legal recourse should stay away from it. A user who knowingly accepts these risks should only enter with capital they can afford to lose entirely. To weigh an alternative, see Roco in the Roco vs Valetax comparison .

Conclusion

Roco Broker offers simple conditions to get started on paper, but its client agreement and disputed license sharply reduce the legal security of your capital. If you plan to try it, read the agreement in full, start with a nano account, make a test withdrawal and follow new warnings on the risk warning page .