Note: Royal Trading Fxs official site - http://ww1.royaltradingfx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Royal Trading Fx, a trading name of Royal Trading Fx Ltd, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:1000 and floating spreads from 0.1 pips on the MT4 and web trader trading platforms via four different live account types.
However, Royal Trading Fx has been verified to be illegal and its licence has expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Note: The screenshot date is February 13, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
Royal Trading FX trades in forex currency pairs, metals, futures and shares.
Account Types
Royal Trading Fx claims to offer four types of trading accounts, namely Classic, STP, ECN and Standard, with minimum deposit requirements of $100, $500, $1,000 and $1,500 respectively.
Leverage
The maximum trading leverage offered by Royal Trading Fx for forex trading is up to 1:1000, which is generous. However, since leverage can amplify returns as well as potential losses, traders need to take care when using it.
Spreads
Royal Trading Fx advertises that its spread on the EUR/USD pair starts from 0.1 pips, but does not specify its detailed spread on particular instruments.
Trading Platform
Royal Trading Fx offers the MetaTrader4 trading platform and a web trader. The MT4 offers a variety of trading tools and instruments to facilitate your transactions. For example, a financial calendar, VPS, trading signals (for a subscription fee), code base with customs scripts, demo account, etc.
Deposit & Withdrawal
The minimum deposit is $100. Withdrawals are subjected to processing and handling fees which are deducted from the transferred amount. The withdrawal request is not charged fees once a month but any subsequent withdrawal is charged a processing fee of 30 USD, 25 EUR or 20 GBP. In addition to that, the processing time for withdrawal requests is 2-5 business days. Without access to its official site, however, we cannot say what kind of payment methods are available with the broker.
Inactivity Fees
There is no fee on deposits, however, if the account remains inactive for 6 months, then 10% will be deducted each month.
Customer Support
The only way you can approach Royal Trading Fx is via email: info@royaltradingfx.com. This broker doesnt disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
2024-01-31 20:43
2023-02-20 15:30
