- 0.1 Royal Fx Pro
- 0.2 Pros
- 0.3 Cons
- 1 Royal Fx Pro Review
- 1.1 Is Royal Fx Pro Safe?
- 1.2 Trading Platform
- 1.3 Royal Fx Pro Broker Breakdown
- 1.4 Unusual withdraw conditions
- 1.5 Unattractive spreads
- 1.6 Are Funds Safe with Royal Fx Pro?
- 1.7 Royal Fx Pro License
- 1.8 Our best advise for you
- 1.9 Royal Fx Pro Review Conclusion
- 1.10 Compare Royal Fx Pro
Royal Fx Pro
Royal Fx Pro is an unlicensed Forex and CFD broker owned and operated by TomCom Limited with address at Sofia Bulgaria. Contact phone number is + 44-2031500489. Email address is email@example.com. The company behind RoyalFxPro is an offshore company registered on St Vincent and the Grenadines. Also together with Royal Fx Pro appear in the fresh warnings list of CONSOB, the Italian financial regulator.
Royal Fx Pro is being run by professional scam artists who simply want to entice unsuspecting investors. A major problem with this platform is lack of credibility within the framework. They have hired call agents to harass investors with deposit requests. Dealing with Royal Fx Pro will only lead to more harm than good. Stay away from this platform or become their next victim.
Another disturbing feature with Royal Fx Pro is the level of anonymity. No one knows the names of people behind this platform. And this is proof we are dealing with anonymous scam artists probably based offshore. Who are the founding members of this platform? Does anyone know the names of any broker who handles funds? And this is proof Royal FX Pro is another well-planned online scam platform. Stay away from this rogue entity or become their next online victim.
Royal Fx Pro Review
The Royal Fx Pro’s website is most probably run by scammers. They are not regulated, as they should be, if they want to target European customers, and they appear in the scam list of the Italian financial regulator, CONSOB. With that in mind once again our general advise is to avoid unregulated brokers altogether and to trade only with companies, licensed and authorized by well known institutions like the FCA in the UK, CySEC in Cyprus and ASIC in Australia.
With no license to prove their credibility, we cannot find any advantage of trading with Royal FX Pro. Royal Fx Pro is another rotten online trading platform stealing from investors. A closer look at the web shows negative feedback from various investors. It seems Royal Fx Pro is a well-choreographed platform to steal from users. Having insane claims and promises is what makes investors sign up without a valid reason. And this is what makes this a shoddy trading platform.
Is Royal Fx Pro Safe?
Forex Broker Expert reviews brokers for readers across the whole world to know whether they worth your time or not. We use a trust score algorithms to asses risk level. They major criteria we use in grouping a forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
Royal Fx Pro has a trust score of less than 50% which shows High risk. After checking their terms and conditions, it is clear Royal Fx Pro is not licensed or registered. A licensed entity will have solid proof of their registration on their website. If you look at their entire website, there is no information regarding their license status. We also checked with various online regulatory bodies to check their license status. Some of the bodies we contacted include ASIC, COSNOB, CySEC, FCA, NFA, and SEC. None of these bodies has ever heard of this platform.
Why has the platform failed to post any copies of their license and registration? And this is proof we are dealing with a rogue platform with ill intentions. What these scam artists have done is create an illusion they offer real Forex, CFD and Crypto trading. Expect no protection from authorities once the broker closes your account for no reason.
Basically, the Italian regulator warns potential investors that RoyalFxPro is targeting customers in Italy and the broader EU without proper authorization, and that the website in question is most probably involved in scam.
During our check on Royal Fx Pro, we saw that they are offering a web based trading platform offered, which lacks many standard features available with classical trading solutions like the MetaTrader4.
For example you will not see option to run automated trading sessions, something, which you can quite easily do on a MT4 with the help of specially designed customizable trading robots and market indicators. Also, you cannot use some of the advanced MT4 charting tools, see metatrader here.
Royal Fx Pro Broker Breakdown
Minimum deposit: $250
Leverage: Max 1:400
Assets: Forex, CFDs and Cryptos
Support MT4: No
Royal Fx Pro says to have over 20 years of experience on the financial markets, offering CFDs on more than 300 popular assets from five major classes – forex, stocks, commodities, indices and crypto currencies. All of that with a choice of six account types, leverage as high as 1:400 and a web based trading platform.
Royal Fx Pro is furnishing users with six account types to choose from. Accounts are named Basic, Bronze, Silver, Gold, Platinium, and Black.
Unusual withdraw conditions
We do not recommend any broker that will restrict your withdrawal of funds, see here. One of the reasons while a broker will withhold your withdrawal request is because you accepted a bonus without knowing that it is a trap. The broker might invariably require a minimum trade volume level, which quite too often scammers use as a pretext to cancel your withdraw requests.
When we want to compare the spreads of Forex and CFD brokers, we download the demo version in order to see.
The spreads that we saw on the Royal Fx Pro trading platform were far from attractive – 3 pips – 3,1 pips for the benchmark EURUSD pair.
Are Funds Safe with Royal Fx Pro?
Segregation of accounts is a huge problem as Royal Fx Pro is pooling funds in one account. With no member coming out and showing any withdrawal proof, Royal Fx Pro is another Forex and CFD trading scam. Watch out for their sales tactics as they are a ploy to pull you in.
Royal Fx Pro License
When the Forex Broker Expert reviews a new Forex or CFD broker, the best way to know if they are a legitimate broker is by checking for a valid license and the quality of the license. Many legal Forex brokers, are licensed by a local regulator like ASIC in Australia, FCA in the United Kingdom or by FSB South Africa.
`Royal Fx Pro is not a licensed broker.
Blacklisted Broker – Royal Fx Pro – Beware!
Our best advise for you
After checking all the moving parts of this website, we are sure Royal Fx Pro is a scam. To stay safe, ignore all their pleas to sign up. Promotional materials such as videos and links should be ignored. Hackers are using these links to gain access to your data. Mark all their emails as Spam and warn your family and friends from joining this broker. Stay safe at all times by using recommended Forex trading tools and brokers.
Royal Fx Pro Review Conclusion
What should be done is adding this broker to our scam blacklist. After making sure this broker is exposed, authorities are asked to investigate and shut this website down. Time to make the right decision is now. Stay away from brokers who lack proper licensing credentials and simply want you to deposit with them.
Compare Royal Fx Pro
Whoever signs up with approved and transparent brokers stands a chance of making real profits, read more.
Vantage FX is a popular broker that is licensed in Cayman Island and Australia. Social trading is offered via service providers like ZuluTrade and Myfxbook.
VantageFX offers attractive leverages on MT4 trading platforms, with very tight spreads, learn more.
Go try their Free Demo Account, signup here.
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