Finroyalty (Finroyalty.com) is another bane Forex trading scam platform to hit the scene. Fin Royalty is purporting to offer limitless trading conditions coupled with a safe and secure platform. All these could be okay if their reputation was intact and not questionable. Members of this platform have already gone to the wire to express their grievances with this unfaithful broker. Read our eye-opening FINROYALTY Review and get the whole truth.
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After months of investigating this platform, we have concrete proof Finroyalty is a scam. Members of this platform had been sending emails to our help desk asking us to investigate it. Thanks to a team of qualified traders, we decided to give the platform a try. Before we signed up, we noticed a few irregularities which halted the process. Want to know some of the red flags we spotted with Fin Royalty? Read this entire review and find out some tricks used to scam unsuspecting investors.
Scam artists will do everything in their power to seduce investors into signing up with them. Their ultimate goal is to have investors fall in love with them and deposit their hard-earned funds. Thanks to our years of investing and trading experience, we know how to spot a scam from a mile away. Such platforms are clearly going to leave you speechless with their over the moon claims. It is what you should be wary of, unfounded claims of making you get rich within minutes.
Finroyalty is presenting itself as a platform which is based in the UK. Scam artists prefer areas in the European region to target investors from these areas. Finroyalty is no different as they claim to have a UK address with no proof whatsoever. Looking at their about us page, we can see a hoard of unfounded claims of how their platform is huge. They claim to have over 100,000 clients with over 100 million invested. If this was true, why are the experts in the EU region unaware of their presence?
Another shocking feature with this platform is in terms of anonymity. With a platform which boasts of having a huge clientele, you would expect a face to back it up. No one knows the actual founders of this platform. Who is the CEO or CFO of this platform? Can we get to know their actual names so that we can ask them for comment? The answer is no, there is no scam artists who will want their names to be exposed. What we have is a classic online scam artist who is targeting unsuspecting investors.
With claims of having over 100,000 clients, you would expect some form of regulation compliance. Based in the UK, it means they have to be registered by The Financial Conduct Authority. A closer look at the FCA’s register reveals no broker or platform is licensed or registered with this name. This adds up to the platform operating without a valid license and is totally a scam. Ensure you stay away from all platforms which fail to comply with set industry rules.
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Another disturbing feature with this platform is that they fail to post any details to prove their license status. You would expect the platform to have posted their license number on their homepage. Looking at their entire website, there is no mention of their license or registration number. No copies of their license certificates have been posted to try and confirm their status. We also reached out to various regulatory bodies which have also claimed never to have heard of this platform.
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Anyone who claims there is an advantage of trading with this platform is lying. How can there be an advantage of trading with a platform which is stealing from members? Without a valid trading license, how can funds be properly secure? Another problem with this platform is being anonymous. Finroyalty is another anonymous online platform which claims to be based in the UK and no one knows them. These are some of the reasons why investors should stay away from Fin Royalty.
Finroyalty is furnishing users with a number of different accounts to choose from. Top of their account types include Classic, Gold, Platinum, and VIP. Other accounts which the platform offers include MAM account and IB account. Another problem we immediately noticed is the high minimum required deposit to start trading. The basic minimum required deposit is set at $1,000 which is way above the set requirement of $250. It seems Finroyalty is up to no good.
Did you know that scam artists are rigging the demo accounts to try and fool investors? Once you try out their demo account, you will realize profits are guaranteed at around 98%. These scam artists have rigged the demo account to produce a favorable outcome. A demo account uses fake currency and it gives scam artists to tamper around with the results. Investors are led to believe they can make the same winning margins with a real account. And this is where the trap is set to open a real account and deposit real funds.
What we noticed with this platform is they fail to give users information regarding depositing and withdrawing. No information such as withdrawing procedure can be seen on their entire website. What we discovered from the disclaimer of this website is the platform is run by Pro Star Griffith. This company is known to hide deposit and withdrawal procedure to investors. They will call you and present a bank account number where investors are supposed to deposit funds.
Although they claim to have MT4 trading platform, we have issues in regards to security features. Even if they have a recognized trading platform, security of investors still remains a huge problem. Lack of DDoS protection and SSL encryption is proof we are dealing with an unsecured website. Third parties can easily take advantage of this loophole and steal vital information. Hackers will easily steal identity information and use them to apply for online loans.
Security of funds is another concern as the platform is infested with withdrawal problems. How can funds be secure with a platform which fails to provide withdrawal procedure? Segregation of accounts is also another huge problem which is not being followed. Investors are depositing funds straight to owner’s personal bank account. Compensation should not be expected with this platform as they don’t participate in a compensatory scheme. Leave this platform at once if you are already on it.
Scam artists have a habit of winding up once they get exposed or fill their pockets. Authorities will soon investigate and shut their operation down. Make sure to stay away from this platform and warn your family and friends from joining their platform.
Adding their platform to our scam blacklist will ensure no else falls for their scam. Our readers will also be kept aware of what happens when you trade with Finroyalty.
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Wishing you the very best in your trading.
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