TheRoyalFX Broker Review
TheRoyalFX or Royal Exchange maintains an effective website up to date with ongoing events. This broker encourages customers to invest in a reputable business by appealing to people’s fear about the Covid-19 epidemic. However, after reading our TheRoyalFX review, you’ll comprehend why this business is not one in which you ought to ever commit money.
Broker status: Offshore Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: No Info
Owned by: Trd Group Ltd
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: $2,500
Cryptocurrencies: Available
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: No
Accepts US clients: No
TheRoyalFX Regulations and Security
Trd Group Ltd, which has its purported offices in Saint Vincent and the Grenadines, owns the name TheRoyalFX. Here, there are two problems. The corporation isn’t listed in any of the registers, which is the first issue. In addition, even if the firm were legitimate, it couldn’t be controlled by the FSA because this authority body operates as a financial register and tells brokers to choose the regulation in the nation of service because this offshore country lacks a financial regulator.
Just in case, we double-checked TheRoyalFX regulation with the FCA, ASIC, BaFin, and a few other Tier 1 authorities.
Fund Withdrawal Issues With TheRoyalFX
Since the business is not officially registered nor regulated, it feels free to defraud customers. Since most of them have reported having withdrawal symptoms, When you decide to invest, everything will be fantastic.
If you weren’t skeptical when asked to deposit $2,500 at the beginning, you will undoubtedly realize that things don’t add up after you are unable to withdraw your money.
You run the danger of getting suspended and losing access to your trading account if you insist too much.
The RoyalFX fraud should be avoided at all costs. Additionally, before investing, constantly research internet trading businesses!
Traders About TheRoyalFX Scam
We were able to learn a little bit about how traders feel about the brokerage by looking into TheRoyalFX reviews. You can imagine how devastated the majority of them are at not being able to withdraw their money. Making matters worse, some who were too persistent lost access to their trading accounts.
The evaluations indicate that the broker mostly targets Belgium and Guernsey, but you’re never secure.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
