Coin Royal Review – Con Artist At Its Finest
Coin Royal Review, you can see something is wrong with Coin Royal Broker. Their website malfunctions and lacks some important information. Also, the company is owned by Businesoft Limited registered in St. Vincent and Grenadines. Quite a bad start.
|Headquarters||St. Vincent and Grenadines|
|Leverage||Up to 1:600|
|Spread||From 2 pips|
|Review Rating||Average 2.3 on Trustpilot|
Regulation and Fund Security at Coin Royal
In general, safety always comes first. Therefore, we are looking for information on where Coin Royal company is licensed. Since they can’t get the license in SVG we are looking elsewhere. But primarily the databases of Tier 1 regulators. Such regulators are FCA, BaFin and ASIC. Thus, none of those ever had records of Coin Royal scam broker.
With missing crucial licensing this broker becomes even more suspicious. All statements regarding security on their website become questionable. In fact, without regulation, they don’t need to comply with anything stated on the website.
Speaking of security, you can’t expect a segregated bank account for deposits or compensation funds. But also, you are missing negative balance protection and guaranteed stop-loss. As it seems, this scam broker built everything around themselves to perform a perfect investment scam. However, they didn’t know you will be equipped with the knowledge to avoid becoming their next prey.
Trading Software Available at Coin Royal
Another key point is trading software. Many traders nowadays are looking only for trusted third-party ones. To be precise Meta Trader and cTrader. The main benefits of such software are transparency and high reliability. However, the Coin Royal scam broker doesn’t worry about it. They proudly present web traders with minimum trading options and tools.
They even advertise a mobile app, but we had a hard time finding download options. Therefore, it’s just another misleading fact. Thus, we are not surprised by this. By reading any Coin Royal review you will find numerous discrepancies.
Be aware, that this web-based software is often manipulated. The company is accessing the software through the back end while trading with customers. This way they can in real-time change data and make it look like something extraordinary. However, it’s just a farce.
Account Types Offered
Generally speaking, traders are attracted by favorable trading conditions to deposit more money. Thus, if they don’t know before investing that diminishes their desire. With Coin Royal broker scam that’s exactly what happens. The company advertises 5 account types without specific numbered benefits. Apparently, their biggest benefits are trading signals, webinars, and secret group access.
Besides, the company has a pretty high minimum deposit requirement. Especially knowing that they are a non-licensed broker. Account types with Coin Royal are:
- Standard $500
- Plus $5.000
- Gold $25.000
- Expert $100.000
- Platinum On request
Important to realize is that this company doesn’t have an Islamic account. Not to mention the missing demo account. Leverage goes up to 1:600 and spreads are non-disclosed. But you can get a swap discount of up to 90%. Considering brokers below that have competitive and transparent conditions but also demo and micro accounts, Coin Royal is a child’s game.
Deposit and Withdrawal Methods
We could already see major red flags about this broker. Another one comes into play once you try to find funding methods. Thus, it will remain a mystery. Primarily because this broker doesn’t have a transparent funding policy. Not to mention a withdrawal policy. Most likely they are accepting:
- Wire transfers
But have in mind that crypto transfers are anonymous. Therefore, we advise you to use a card every time. In this case, you are entitled to a chargeback. Which is every scam broker’s nightmare.
How the Fraud Has Carried Out
As we can see from Coin Royal reviews, this scam is performed standardly. They will lure traders through ads to leave contact info. Because nobody with common sense would deposit here by themselves. Once they are in possession of your contact info you are being harassed.
Consequently, they will pressure traders with numerous deals and tactics to deposit money. First smaller amounts and later way bigger ones. Until they realize that after the first withdrawal request that was all fictive.
It’s not excluded that scam brokers like this will use fake reasons to prevent withdrawals. Some of the most common are missing documentation, AML laws and non-existent taxes and fees.
Coin Royal Summary
To conclude, Coin Royal Broker is nothing but an illicit scam. They are not licensed anywhere. Also, they provide unstable websites and even less reliable trading software. Above all, the company doesn’t have transparent funding policies.
Not to mention extremely high leverage and other trading conditions non-specified. All in all, Coin Royal reviews are not bad without a reason. If this or any other broker stole money from you, feel free to contact our fund recovery team free of charge.
FAQs About Coin Royal Broker
Can I Trust Coin Royal Broker?
No. They miss crucial licensing but also legal documents and fund protection.
What Kinds of Accounts Does Coin Royal Provide?
There are 5 account types with different minimum deposits. All offer non-trading related benefits.
What Is Coin Royal Minimum Deposit Amount?
The minimum deposit for the basic account type starts at $500, double the industry average.