Estimated reading time: 9 minutes
There’s an old saying out there that you have to spend money to make money. But what if you spent money (some spent as much as $40,000) and NEVER even saw a cent?
This is the case with Royal Binary (aka Royal de Bank) – taking thousands of investor’s money and never paying anyone a single penny. Here are some of the MANY reviews you can find about this Royal Binary Scam:
“Royal de Bank ignores my every attempt to contact them. I’ve sent countless message through their email, even tried to contact them via “24/7″ chat services to absolutely no avail. They’ve STOLEN my money. Do not deposit anything at Royal de Bank, unless you never want to see it again. Their unpredictable spread is designed so that you never know what your entry price will be, and they never pay a single cent. Since switching brokers, I’m up over three hundred percent! Imagine that. Wish I could get my money back.”
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“I can’t get any of my money back! An account manager named “Camille” sent me an email to tell me to stop trading when I was up several hundred dollars. She told me she needed me to put another $1,000 into my account to “gain access” to my trades, because she “wanted me to succeed”. What a joke! I made money, now she’s asking me for more? They’re thieves! I made money, and they want me to invest MORE? Additionally, no one answers the phone, and surprisingly enough, none of their phones work.”
“One of the worst companies out there for binary brokers. 100% guaranteed scam artists. I can’t withdraw anything, not even my $200 deposits, or my “profits”. I tried to call multiple times, and they never answer the phone. “Camille” responded to my email saying that she couldn’t get me my withdraws, but she’s asking for more deposits! She’s calling me from private or unknown numbers too- so I can’t track them. I’m posting the calls on YouTube later.”
“They’ve lined their pockets with my 500 Euros. Not a single phone call was answered, and none of the numbers on their website are active. They refuse to give me my deposit, have given me the cold shoulder, and now I’m out over $1,000. This company is a scam.”
Recently, the “Royal de Bank” site went offline, because it was being investigated for inflating pips nearly double their value (.00070 to .00140) on offers that expired in less than 15 minutes. Anyone into binary options trading as a means to make money understands that this situation doesn’t allow enough volatility to make a trade.
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This means that they deliberately raised the trading values on trades that only benefited them to steal their clients money, after baiting them with winning trades on their initial deposits. This unfavorable, inflated value sucks away at investors money, until it’s impossible to make a dime off of your initial investments. Plus, they refuse to return calls, or work with investors after they’ve stolen their money.
There are a lot of negative reports out there by companies looking for an edge against other perfectly refutable binary brokers. The only real way to undermine a scam is by fact checking many different reviews to get the absolute clearest picture about what’s going on. Typically speaking, the only truly legitimate way to establish whether or not a trade is valid is by checking the reviews and looking into these 5 typical signs of fraud.
Royal Binary has established a record of having unreliable phone services. Additionally, they refuse to contact anyone outside of restricted or private numbers. If you can’t contact your broker, how are you supposed to get your money? They know this approach, and have therefore provided a list of faulty contact numbers in case of emergency that are falsified. This Royal Binary Scam comes to fruition because a vast majority of reviews on the subject practically all say the same thing- they just don’t answer the phone.
This is an awful sign for investors- especially when you’ve invested thousands into the company. If they won’t return your calls when you need help the most then they simply aren’t refutable. A company like Royal Binary seems to be going out of its way to avoid calls and to avoid actually talking to their clients- unless they’re asking for money with unreasonable payment restrictions (reviews above commented on $1,000 limits for “success”) on their withdraws- even refusing to return deposits.
Having expiration times that are related to “technical problems” or other malfunctions, like higher, inflated pips is immediately a sign of a scam. These companies use approaches like this to justify trades made for a profit on their end- because they show a loss on yours. The way that Royal Binary accomplishes this is by creating reasonable pip amounts (.00070 as stated earlier) at a very specific and reasonable time (several hours). Investors spend money, assuming they’ve found a good, reasonable and profitable way to make money. Royal Binary then scams users by changing the pips at the very last second when investors aren’t looking- inflating the values far further than profitable margins. As the clock “winds down” it continues through a reasonable period of time, and when it finally does stop, all of your money is gone.
Royal Binary then has investors look to a doctored terms and conditions page that releases them from liability on their investors trades, making them huge sums of stolen money. These situations are impossible in a legitimate scenario- especially when you understand the processes that binary companies go through to invest money. A legitimate company would always go through a third party option to invest money, and these types of companies don’t have clocks that don’t expire, or pips that change at the last minute, because you’d lose money, and they know that.
When you know that a third party company is reliable and that other binary trading companies aren’t experiencing the same problems, you KNOW that you’ve encountered a scam. If the clock was simply lagging, it wouldn’t continue counting, it would glitch, and simply tell you at the end whether you won or lost late. It wouldn’t run overtime, and it wouldn’t keep counting down. These aren’t technical errors- these are attempts at FRAUD. If a company steals your money once, they’ll do it again- never give them another chance- like this Royal Binary Scam tries to get from other traders in their calls for more money from restricted or private numbers that you can’t return calls to.
You May Also Like: List of all Legitimate Binary Options Brokers
If you’re having the problems mentioned above, and do a quick search of your binary company, and if you come across a plethora of bad reviews, you’ve found a scam. In a quick search of “Royal Binary Scam” on Google, there’s approximately 345,000 results; a huge number for a “legitimate company”.
We offer an amazing list of refutable binary option brokers here on our site – feel free to Google them and see how many reviews from scammed investors there are. As we mentioned above, we understand that some companies out there try to ruin a companies reputation, but in today’s completely transparent technological times, it’s virtually impossible for one company to run down another company’s reputation as fast as they run it down themselves. The four reviews above are just a drop in the wide river of complaints that Royal Binary has established for their clientele.
No matter the situation, Royal Binary NEVER lets anyone withdraw their money. Why? Because they would lose the money that they gained from scamming you. Understand, all binary companies make money on a trade, because there is a variation of people who believe a trade is going to win, and a trade is going to lose. Winners are paid from the losers funds, and the company makes a small portion on the trade.
At the same time, there are popular terms that brokerage firms use to prevent your withdrawal of money, like being below minimum withdrawal thresholds, or if you don’t meet minimum requirements, but in general, Royal Binary refuses ALL withdrawals- even if you’re above the deposit amount, forcing you to “put more money in” before they release your deposit, and then you can’t contact or get a hold of them.
The most obvious reason that Royal Binary is a scam is because they recently changed their website to avoid accusations from unhappy traders. Obviously, you’re going to lose money sometimes when you invest, but in general, NO ONE makes money with Royal Binary or “Royal de Bank”. Additionally, when faced with investigation, the official site was no where to be found- point 5 against Royal Binary, they are a SCAM binary trader- stealing your money “legally”.
How do Fraudulent Companies Get Away With These Scams?
There’s also little to nothing a trader can do about fraudulent sites, except complain via reviews. People who are new to trading or who are inexperienced with how these companies work send in their money without completely regarding the terms and conditions that companies like Royal Binary present their constituents. Obviously, this is a serious mistake, and allows scam companies to get away with their crimes. This is why it’s so important to do your research, get the facts, and verify it with people who know binary trading inside and out, like we do.
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