Royal FX Bank Review: Our Take on Royal FX Bank

It’s time to discover the truth about Royal FX Bank, the self-proclaimed multi-regulated global broker. Our investigation exposes the reality behind their suspicious claims. Is this platform a trustworthy investment opportunity, or is it a big scam? Let’s break it down in our Royal FX Bank review.

About Royal FX Bank

Royal FX Bank scam positions itself as a global broker based in the UK. However, our investigation found many red flags.

Cyprus Securities and Exchange Commission (CySEC) has issued a warning against this fake broker. This truly tells us that the legitimacy of this broker does not exist at all!

Our advice is to choose a legitimate and safe trading platform. Think about your safety at all times!

Fraudsters Playing Experts

Launched in 2022, Royal FX Bank targeted several nations. These include the UK, USA, Mexico, Canada, and Trinidad and Tobago. So, people from these countries should be extra careful!

What’s more, we must note that their withdrawal policy raises concerns. We will elaborate on that below!

Questionable Withdrawal Policy

Navigating their withdrawal policy can be super hard. The process is intricate, and additional fees may deter potential investors. Also, compliance and verification procedures raise big security and transparency concerns.

Let’s take a look at a brief overview of that policy:

• SWIFT confirmation is required for authentication.
• Follows anti-money laundering (AML) rules.
• Additional fees for alternative payment methods.
• Verification may require more documents.
• Undeposited funds are not available for withdrawal.
• Compliance documents approval is required.
• Intermediary bank fees may apply.
• Credit card fees for different currencies.
• Withdrawal amounts are limited to credit card deposits.
• Base currencies: USD, Euros, British Pounds.

This concise list summarizes the key details of Royal FX Bank’s withdrawal policy.

Disappointing Features

Despite claims of 200,000 active users and a 1% commission, this broker falls short of providing reliable and clever trading solutions.

The alleged leverage of 1:30 to 1:100 and basic account offers indicate a lack of tech sophistication. Keep that in mind!

MT4 Platform

Proceed with caution when dealing with this company. We can see they claim to offer the popular MT4 platform. However, considering the drawbacks we’ve uncovered, there are many doubts about the authenticity of their MT4 software. 

For a safer experience, it’s better to choose legit and safe companies that support real MT4 or MT5. Make sure your broker has Tier 1 regulations and a reliable background for added security. Stay smart and choose your broker wisely!

Diverse Trading Assets

This broker scam talks about a diverse selection of trading assets. Moreover, they are mainly focusing on crypto coins like BTC, ETH, SOL, XRP, VET, and ADA.

Still, you should know that differences exist between the detailed specs on their website and the actual stuff on the platform.

Fact: Some brokers, such as MogaFX, have a license but lack many other important factors. Keep that in mind.

Royal FX Bank Accounts

The company attempts to establish legitimacy by offering different trading accounts. 

However, our analysis reveals that the promised benefits may not align with the actual trading experience. The tiered account structure raises questions about the true value these accounts deliver.

Let’s take a look at all of that in detail.

 1. Bronze Account (€250)

• Market valuations
• Trading Instruments: FX, Metals
• Leverage: 1:30
• Margin call: 100%
• Minimum volume per trade: 0.01 lots
• Maximum volume per order: 100 lots

 2. Silver Account (€25,000)

• Market valuations
• Trading Instruments: FX, Metals, Commodities
• Leverage: 1:30
• Margin call: 100%
• Minimum volume per trade: 0.01 lots
• Maximum volume per order: 100 lots

 3. Gold Account (€100,000)

• Market valuations
• Trading Instruments: FX, Metals, Commodities, CFD, Indices, Crypto
• Leverage: 1:30 | 1:50 | 1:100
• Margin call: 100%
• Minimum volume per trade: 0.01 lots
• Maximum volume per order: 100 lots

 4. Diamond Account (€250,000)

• Market valuations
• Trading Instruments: FX, Metals, Commodities, CFD, Indices, Crypto
• Leverage: 1:30 | 1:50 | 1:100
• Margin call: 100%
• Minimum volume per trade: 0.01 lots
• Maximum volume per order: 100 lots
• Personal account manager
• Portfolio Management

What Folks Are Saying on Trustpilot

Checking Trustpilot, we noticed something big – no reviews for this questionable broker. That’s a red flag right there! In FX trading, real user feedback is crucial, and the absence of any on Trustpilot is a warning. This goes without saying. 

Be cautious about companies that lack legit reviews. For online trading, go for platforms with a minimum 4.5-star rating on trusted sites like Trustpilot. Always consider your safety, especially when it comes to trading and investing.

Tip: GF Broker works under a Vanuatu Financial Services Commission (VSFC) license. However, note that the VSFC’s regulatory regime for forex and binary brokers is lenient.

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Final Words

Summing up, our peek at the Royal FX Bank uncovered a mix of offerings. From lacking regulatory support to iffy withdrawal policies and poor features, caution is a must! Different trading accounts raise some questions too, and don’t forget about the warning they received!

Always weigh your options and pick transparent trading platforms! As a parting tip, explore our proprietary trading firm for a chance to earn up to $180,000. Make smart choices for your financial well-being.

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