Given how much effort it appears to have put into concealing its URL, Royal. Broker raises suspicions as a broker. When a forex broker utilizes a difficult-to-guess domain name like Royal. Broker, it’s likely that they’re trying to avoid detection as a fraudulent operation.
Scammers that advertise themselves as “hard to find” often operate off of questionable websites.
You should never do business with that kind of broker. A deeper layer of deceit hides beneath the surface of this seemingly dishonest broker.
Guidelines for Accreditation of Royal Brokers
Goldman Global Group is Royal. Broker’s parent company. They state that they are governed by both the International Financial Services Commission (IFSC) and the British Virgin Islands Financial Services Commission (BVIFSC). International Invest Management (located in the British Virgin Islands), Goldman Global (St. Vincent and the Grenadines), Goldman Ltd. (Hong Kong), and Global Asset Ltd. (Cayman Islands) are all subsidiaries of the Goldman Global Group.
Trading with unlicensed brokers is risky. To maintain their license, regulated brokers must adhere to stringent laws and regulations that protect their clients’ best interests.
Insurance provisions exist if the broker is a fraudster, and this is provided by reputable regulators like CySEC and FCA. If a broker who is regulated by the Cyprus Securities and Exchange Commission disappears with a client’s money, the client may be entitled to up to 20,000 euros in insurance compensation.
Terms of Service for Royal.Broker
A broker’s trading conditions will tell you a lot about the reliability of that broker. Find out if this broker offers favorable terms for your trading needs.
Investing Web Site of Royal.Broker
The broker’s “semi-platform” is terrible. Using a third-party service is a red flag that they are a scam. TradingView is their platform of choice, which is also used by many scam forex brokers. Because of the subpar quality of their trading site, I would not advise using them.
To maximize your trading potential, find a broker who supports Metatrader 4 or 5. Metatrader’s extensive features and benefits have earned it a stellar reputation among industry professionals. For this reason, many forex brokers prefer using Metatrader as their trading platform. Those concerns would be unnecessary if you were using Metatrader.
Lowest Acceptable Initial Investment
They want a $250 minimum payment before they’ll begin working with you. That’s a hefty minimum deposit to make.
In order to get their hands on as much money as possible, shady brokers typically maintain hefty minimum deposit requirements. A little initial investment is all that is needed to try out the services of a regulated broker. Untrustworthy brokers, on the other hand, insist that you make a sizable first investment.
If a broker requires a large initial deposit before you can make any trades, go elsewhere. The typical minimum deposit is $50, however, you can find as little as $10 in the market.
High Hedges and Wide Spreads. The average leverage ratio of the broker is not disclosed. But it says their leverage ratio can be as high as 1:1000! By any measure, that’s excessive.
Avoid excessive leverage ratios
If you are just starting in the foreign exchange market. Canadian and American financial authorities do not permit brokers to offer leverage ratios of more than 1:50 to their clients. That’s because getting into deep debt while using a high leverage ratio will instantly drain all your deposited funds.
So, another red flag with this broker is the ridiculous leverage they give.
They quote a spread of 44.2 pips when trading EUR/USD with them. It’s not a mistake; the spread is 44.2 pips. The typical spread in the market is 1 pip.
Spreads are the primary source of revenue for Forex brokers. The guys behind Royal. Brokers are quite greedy, as their spreads are 44 times the industry standard.
Costs and Accepted Forms of Payment at Royal.Broker
Methods of Exchange
Royal. Broker is dodgy for many reasons than only the fact that it is not a registered or licensed broker. The website solely accepts digital currencies. Only Ether, Tether USD, Bitcoin, Dash, TrueUSD, Litecoin, XRP, Monero, and Bitcoin Cash will be accepted as payment.
Royal. Broker’s withdrawal costs can vary from service to service.
- There is a $20 processing fee in addition to a 3% commission when using Perfect Money.
- The charge for using SEPA is €5.
- The fee for using a credit card is 5%.
- $10 charge + 2% Payeer commission
- Fee of $10 for wire transfers
- $5 flat rate plus 0.5% on all crypto sales.
- Royal. The broker says withdrawals take 10 business days to process. On their site, they only list the fees associated with using their service.
This broker boasts that its verified users can receive incentives of up to $50,000. They may, however, rescind a bonus or refuse to pay a specified bonus amount at any moment.
There is no monetary value associated with these bonuses. Instead, they throw more hurdles in the way of your withdrawals, making it difficult to get your money. The FCA (Financial Conduct Authority) forbids brokers it regulates from giving out bonuses to customers because of this.
In order to trick prospective customers, many dishonest brokers offer bonuses.
Can I Trust Royal.Broker? Yes!
The foreign exchange market is home to a wide variety of con artists. Forex brokers with a questionable reputation often utilize enticing offers and marketing to draw in new customers. They target novice investors since they are easier to fool.
By signing up with such brokers, you’re agreeing to their unfair terms and conditions. The money their clients deposit is subsequently stolen by the brokers in the form of various fees.
This is one of the main reasons why I don’t advise making trades through an intermediary headquartered in an offshore jurisdiction. There aren’t any robust financial regulators in place like CySEC or FCA in these regions. Customers of unlicensed brokers are vulnerable to several financial and personal security threats. Before signing up with a forex broker, you should always do your homework.
Final Thoughts on Royal.Broker
Royal.Broker is an unlicensed fraud that lures victims into a pyramid scheme. They provide shady leverage and spreads on a subpar trading platform. Trading with such a risky broker is not something I suggest.
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