RoyalFxPro Review Is Royalfxpro.eu A Legit Broker

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RoyalFxPro Review – is it scam or safe?

RoyalFxPro 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.

Account type Min. deposit Max. leverage Spread s
Basic Account $250 1:400 3,1 pips
Bronze Account $1000 1:400 n/a
Silver Account $5000 1:400 n/a
Gold Account $10 000 1:400 n/a
Platinum Account $50 000 1:400 n/a
Black Account $100 000 1:400 n/a

Unfortunately the broker is not regulated as it should be, if they want to target customers on the European market, and they appear to be flagged as potential scammers by the Italian financial regulator CONSOB. If you are considering investing any funds with RoyalFxPro be sure to read the following review.

RoyalFxPro Advantages:

Lots of forex pairs and other CFDs

The extended list of trading instruments RoyalFxPro offers its clients surely can be counted as a possible advantage. We came across 46 currency pairs, many of which exotic or minor like USDCZK, USDHKD, USDMXN, USDRUB, USDPLN, USDSEK, USDNOK, USDDKK, USDSGD, USDZAR and USDTRY, as well CFDs on various assets including oil, natural gas, gold, silver, palladium, copper, cocoa, coffee, sugar, wheat, live cattle, indices, stocks and even crypto coins like Bitcoin, Litecoin, Ethereum, Dash and Ripple. Still, if you enjoy the idea of trading the crypto markets, here we may also suggest that you take a look at our list of brokers, trading with bitcoin CFDs:

CONSOB warning, not regulated

We understand that RoyalFxPro is owned and operated by TomCom Limited – an offshore company registered on St Vincent and the Grenadines, which also appears (together with RoyalFxPro) in the fresh warnings list of Italian financial regulator – the CONSOB. See for your self:

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.

With that in mind once again we will repeat our usual advise to deal only with regulated brokers, licensed and authorized by an official financial regulator such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC).

Here you may also check our list of FCA regulated brokers, where your money will be covered by a client compensation fund, insuring your trading account for up to 85 000 GBP in case your broker files for bankruptcy:

Trading bonuses with unusual withdraw conditions

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Be aware that trading bonuses, invariably come with strings attached – some elusive minimum trade volume requirement, which quite too often scammers use as a pretext to cancel your withdraw requests. It seems like the case with RoyalFxPro is not different. See for yourself:

Bear in mind that no legit broker will ever restrict your right to withdraw your own funds

Skrill payments not accepted

RoyalFxPro says to accept payments with major cards like VISA and MasterCard, bank wire and ecoPayz, but not Skrill, and this is yet another indicator that what we have here is a unregulated, potentially scam broker.

A year ago Skrill adopted a new anti – scam policy, according which they partner only with regulated brokers. And as we already established, RoyalFxPro does not have a license and is blacklisted by CONSOB. Besides, here you may also check our list of brokers, accepting Skrill:

The RoyalFxPro’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.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Royal FX Pro Review: Royalfxpro.eu Forex Scam

Royal FX Pro Review: Royalfxpro.eu Forex Scam

2 Comments

Last Updated: Jan 28, 2020 @ 9:25 am

Royal FX Pro (Royalfxpro.eu) is another Crude CFDs, Crypto Currency, and Forex scam to hit the lucrative trading world. RoyalFX Pro is claiming to be based in Europe which means they are targeting European investors. RoyalFXPro is purporting to offer the most popular markets in the world. They also claim to have the latest technology in Forex trading. Read this genuine ROYAL FX PRO Review and get the whole truth.

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Royal FX Pro Review

A closer look at their website reveals some damaging features. The platform uses Italian language for default and they claim to be located in Sofia, Bulgaria. Contact page simply has a phone number and an email address. What we found out about their phone number is shocking to say the least. These scam artists are using a virtual phone number to entice investors into believing they are EU based. What these scam artists are doing is outright scam investors immediately they make deposit.

Scam artists will clone websites and entice unsuspecting investors into signing up. A huge problem with Royal FX Pro is using fake logos on their website. Disclaimer at the footer of their homepage has fake security logos to feign safety. Royal FX Pro is simply trying to lure investors to sign up by making them believe it is secure. Online comments suggest more and more members are being scammed by this platform. Stay ahead of the pack by knowing all tricks used by this scam artist.

About Royal FX Pro

Not much is known about the whereabouts of this platform. Scam artists will do or say anything to ensure users sign up with their platform. And this is exactly what RoyalFXPRO is doing with their European base claim. For all we know, these could be offshore brokers who are targeting European investors. Phone number has a UK area code which makes us question their whereabouts. Are they located in Sofia or in the UK? It seems they are anonymous brokers operating a trading platform.

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Anonymity is a dangerous trait to associate with especially with online investment platforms. Who are the people running the show? Why has the website failed to give actual names of the founding members? It seems these scam artists want to remain anonymous which makes it a huge problem.

Is Royal FX Pro licensed or registered?

Royal FX Pro is not licensed or registered by any of the international regulatory bodies. To confirm their status, we reached out to various regulatory bodies. They include ASIC, CONSOB, CySEC, FCA, NFA, and SEC. Another problem with this platform is being blacklisted CONSOB, the Italian Regulatory commission. With this concrete proof, we are sure this platform is offering illicit services. According to the Italian regulatory commission, this platform is based in St. Vincent and the Grenadines.

CONSOB also goes ahead and names TomCom Limited as the company behind this platform. TomCom is an offshore company with no known registration number. None of the company registers has ever registered this company. With this concrete proof, we are sure no one is safe with this illicit platform. Together with CONSOB, we are condemning the use of this scandalous online trading platform. Whoever signs up should know their funds are not safe with an unlicensed platform.

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Features of Royal FX Pro/ Advantages

With Royal FX Pro being blacklisted by one of European’s top regulatory bodies, no advantage is foreseen. A good place to start is blacklisting this platform to our scam list. Clients are already facing withdrawal issue which is a huge problem. No member is able to withdraw funds with this platform which is a huge problem. We strictly recommend users to stay away from this illicit platform.

Disadvantages of Royal FX Pro

Account offered

Royal FX Pro is furnishing users with six different account types to choose from. Accounts are named Basic, Bronze, Silver, Gold, Platinum, and Black. What we noticed immediately was the bonus issued with some of these accounts. Last four account types have bonuses from 10% to 30%. Once you get a bonus, you are unable to withdraw until you deposit the exact amount of bonus issued.

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Deposit and withdrawal

Another huge problem with this platform is withdrawal. Depositing funds is made easy by available options. Clients can deposit funds using ecoPayz, MasterCard, Wire Transfer, and Visa. Withdrawal still remains to be the biggest problem with this platform. Members are complaining right left and center in regards to withdrawal issues. None of the users has come forward to prove withdrawal. What these scam artists are doing is rip off anyone who deposits funds with them.

Unresponsive support team

Royal FX Pro is failing their clients with lack of a credible and responsive support team. If you ask them about deposit, email will be responded within no time. And this is what makes trading with Royal FX Pro a nightmare. These scam artists don’t put your interest at heart; they simply want to fill their pockets with your funds.

Web based platform

With a web based platform, security should be their top most concern. We earlier indicated that this platform is posting security logos to feign safety. None of their security status is correct as their web based platform is unstable for lack of SSL encryption. These scam artists have simply posted SSL Encryption badges to fool unsuspecting investors. Thanks to our years of trading experience, we know how to spot a scam from a mile away. You now know what to expect with these scam artists.

Are funds safe with Royal FX Pro?

How can funds be safe with a broker who has been blacklisted by a reputable regulatory body? Royal FX Pro is pooling funds in one single account which is extremely dangerous. Segregation of accounts is next to impossible with this platform as they use a personal bank account. Who is in charge of handling funds with this platform? Does this platform participate in a compensatory scheme? We highly doubt their efficiency to meet set industry standards.

Is Royal FX legit or a scam?

Evidence clearly points at this platform being an outright scam. No member has come forward with evidence of ever withdrawing funds. To make it all worse, they have been blacklisted by CONSOB. Once you deposit funds with this platform, it is the last you will see of it. Warn your family and friends from joining any of their affiliate programs. Mark their emails as Spam and don’t click on any links sent by their email marketing team.

Verdict

We will be adding this site to our scam blacklist to ensure our readers are kept safe.

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RoyalFXPRO – Is it a Scam?

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Trade – DO NOT TRADE WITH THIS PROVIDER

RoyalFXPRO claims that it has more than 20 years’ experience in financial markets across the globe, and offers CFDs (Contract for Difference) in cryptocurrencies, stocks, commodities, indices and currency pairs.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

Founded: N/A

Regulations: Unregulated

Languages: English

Deposit Methods: Bank Wire, Debit/Credit Cards, EcoPayz, Skrill, Neteller

Minimum Deposit: $250 for Basic Account

Free Demo Account: Yes

Number of Assets: 300+

Types of Assets: FOREX, stocks, indices, commodities, cryptocurrencies.

Trading Accounts and Conditions

RoyalFXPRO claims that it has more than 20 years’ experience in financial markets across the globe, and offers CFDs (Contract for Difference) in cryptocurrencies, stocks, commodities, indices and currency pairs.

You also get to choose from 6 different account types with this broker. They are:

  • Basic Account – This account has a minimum deposit requirement of $250, a maximum leverage of 1:400 and a spread of 3.1 pips for the EURUSD currency pair.
  • Bronze Account – With a minimum deposit requirement of $1000, this account also offers a leverage level of 1:400, but there is no information on the spread.
  • Silver Account – A minimum deposit of $5000, and leverage of 1:400, but no information on the spread.
  • Gold Account – Requires a minimum deposit of $10000. It has a maximum leverage of 1:400 and there is no information about the spread.
  • Platinum Account – You need a minimum deposit of $50,000 to start an account of this type. The leverage remains at a maximum of 1:400 and there is no information about the spread.
  • Black Account – To operate a Black Account you need to deposit a minimum of $100,000. You get a maximum leverage of 1:400 but there is no data on the spread.

RoyalFXPRO – Advantages

Here is a list of the pluses that we found at RoyalFXPRO:

Range of Assets

This broker offers a really wide range of trading instruments. There are 46 different currency pairs available for trade, including some exotic as well as minor pairs.

You also have CFDs on trading instruments such as oil and natural gas, precious metals, commodities, indices, stocks and cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin and Dash.

Account Types

The broker offers you a range of 6 different account types, starting with the basic trading account, and going up to the top-rung Black account. However, the problem is that there isn’t much information about each of the account types besides the minimum deposit requirement and the maximum leverage levels.

You don’t know the spread for each of the account types, which means that you won’t be able to calculate your returns until you actually start trading on RoyalFXPRO’s platform.

Minimum Deposit Requirements

The broker has kept an acceptable level of minimum deposit requirements which is line with the market average. This is unusual for an unregulated brokerage, since most of them have higher-than-average minimum deposit requirements.

Availability of a Demo Account

The only reason this is being mentioned as an advantage is because most unregulated brokers do not offer demo accounts. You can at least get to see the kind of trading that is taking place on RoyalFXPRO’s platform, and get an idea about the spread.

RoyalFXPRO – Disadvantages

Here is the long and serious list of disadvantages that RoyalFXPRO has:

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