RoyalFX24 Broker Review
There aren’t many things to discuss about RoyalFX24 broker because there isn’t much available information. We can safely assume that you’re dealing with a scam because neither the organization running the charade nor their headquarters are known. However, read our RoyalFX24 review to learn everything we know.
Broker status: Unregulated Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: CONSOB
Owned by: N/A
Headquarters Country: N/A
Foundation year: N/A
Supported Platforms: Web Trader
Minimum Deposit: $250
Cryptocurrencies: No
Types of Assets: FX, commodities, indices, shares
Maximum Leverage: N/A
Free Demo Account: No
RoyalFX24 Regulation
Since RoyalFX24 lacks even the most fundamental details, we can conclude that the broker is unregulated. We double-checked by looking through Tier 1 registers like ASIC, FCA, and BaFin and couldn’t find anything.
When businesses withhold essential information, it typically indicates that they are headquartered in an offshore location without real regulatory oversight. The corporation doesn’t have to adhere to any regulations or keep your money in segregated accounts, which is harmful for your money.
Simply put, we strongly urge you to disregard any offers from RoyalFX24.
Warnings From Financial Regulators
The Italian regulatory authority, CONSOB, added RoyalFX24 to its list of suspicious websites operating without authorization as a result of illicit activity. It essentially indicates that the company lacks the right to offer financial services in the EU and that customers have no claim to compensation from regulators.
Fund Withdrawal Issues
What to anticipate from a broker like RoyalFX24, who does not allow customers to withdraw their money. None of the clients will file litigation because there is no owner, headquarters, or governing authority. But don’t be duped by them. To recover your money, there are still procedures and actions to take.
Reviews indicate that the broker is primarily present in France and Italy. However, the UK, the Netherlands, and numerous other nations in the EEA zone have complained to us. As the business itself mentioned, they operate in the EEA zone and cater to European customers. Watch out for the trading scam RoyalFX24!
As could be expected, traders have nothing positive to say about RoyalFX24 and their scam. Clients are being harassed by the broker’s staff until they make a down payment, and even then, it’s not enough. Account managers are pressing consumers to invest more money or risk losing what they have already invested.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
