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Royal Trade Review: Royaltrade.fm Chronic Forex Broker Scam Condemned

Royal Trade Review: Royaltrade.fm Chronic Forex Broker Scam Condemned

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Royal Trade (Royaltrade.fm) is an abhorrent Forex broker scam that must be shunned by all Forex investors. Claims of investors losing money with this broker are rife all over the web. This is why we took it to ourselves to conduct a thorough and full investigation. An investigation was underway to determine the root cause of members losing money. Read this detailed review and get firsthand findings of the investigation.

Royal Trade Review

Royal Trade Review:

Like all other scams, we noticed that these scammers have pulled off a very welcoming website. This homepage looks very promising and its no wonder many people have signed up. As we always say, it’s good to always read reviews before signing up with any broker. Don’t fall for the eye-catching website, there’s more than meets the eye. Here, we will reveal all the dirty tricks used by the scammers to steal money from users.

Promises are what scammers use to get most people to sign up. Royal Trade is no different as it has employed the same tactics. Invest with confidence and gain like a royal is the tagline used by this broker. Scammers know that everyone wants to make a quick buck or two. And Royal Trade claims to have the answer to this need. All you need is to sign up with them and leave the rest to them. That’s how they sell it.

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Who Owns Royal Trade.

According to the disclaimer at the bottom of the page, Royal Trade website is powered by PayPeq Holdings. This is apparently located in Estonia which is a hub for offshore brokers. Offshore brokers are notoriously known for flaunting set rules and regulations. This is a huge problem for us as we don’t condone offshore brokers. There’s a good reason for this, they are known to flaunt set rules and regulations.

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Another problem with ownership of Royal Trade is that there’s a lot of anonymity. Why wouldn’t they mention anyone behind this platform. Who developed this platform or which company? This would have been helpful information for verification purpose. Level of anonymity is too high for us to advice people to sign up. All investors are asked never to sign up with an offshore broker.

Is Royal Trade Licensed or Registered?

Royal Trade Scam

When it comes to registration, we are sure Royal Trade is not licensed or registered anywhere on the face of the planet. There’s no indication of any registration documents with this broker. It therefore is safe to conclude that Royal Trade is an unlicensed broker. An unlicensed broker is bad news for investors as they can easily go under.

No known regulatory body has come up to defend Royal Trade. Regulatory institutions such as FCA, FSA, and CySEC simply have not verified registering this broker. This is proof that we are dealing with a professional scam outfit. Best thing to do is stay away from this broker and sign up with a genuine broker. Fake Testimonials.

Homepage of this brutal scam has a few people who claim to have won with this firm. Eden George claims to have made over 2600 Euros in profits. He attributes all these to a personal manager used by this broker. Claims of a personal manager guiding him to profits are all lies.

Why didn’t these account managers help the over a thousand victims?

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Testimonials such as these are merely meant to make investors believe that the platform is real.

Fake Demo Account.

Another disturbing detail we found with this platform is that they have a rigged demo account. This is bad news for any Forex newbie. What this means is that they have rigged the demo account in your favor. Rigged demo accounts make over 90% of successful trades.

Once investors see that they are indeed winning with a demo account, they will want the real thing. This is where the trap lies. A real account is far from the demo account in that you use your real money. These brokers want your money and as such, they will make you lose it all. Sad that these scammers are in league with other brokers to give false information. And this is why we are against anyone signing up with this broker.

Are Funds Safe with Royal Trade?

Royal Trade Fake Review

Funds are not safe with any offshore broker. This means your funds are NOT SAFE with RoyalTrade. Worse is still to come, there’s no way of withdrawing money with this broker. That’s why most people are complaining about losing money with this broker. Do you know where the money goes to? This investigation reveals that RoyalTrade does not segregate member accounts.

What this means is that members are depositing money straight to the owner’s personal bank account. Why would we invest our money into such a cunning broker? As we earlier said, anonymity is what makes Royal Trade a scam. Now you know better than to sign up with a faceless broker. Don’t be another victim of this scam broker.

Fake Platform.

Details about this unstable platform shot up when we tried to download it. Platform download stalled at 25% and this means that it’s unstable. An unstable platform is bad for business as hackers can easily gain access. Hackers can steal personal data and credit card information by just getting access. This won’t be the first time an unstable platform has been the cause of panic to traders.

Always make sure that you check which type of platform the broker uses. Promises used by the brokers are not genuine. Don’t sign up with RoyalTrade, period. Platforms are essential in determining how good a broker really is.

Is Royal Trade a Scam?

Royal Trade is a scam that will take away your hard-earned money. Best thing to do is to stay clear from this broker. Ignore all incoming promotional materials sent by their email marketing team. Mark all their emails as Spam and never click to any links. This way, you will be immune to their scam tricks.

Scams are everywhere in the Forex world, RoyalTrade is another scam that has come out to steal from traders.

Royal Trade Final Verdict.

Royal Trade Scam Review

Evidence on our hands show that we are dealing with a shady broker. Only option left for us is to mark this broker as a scam.

At all times use Genuine and Honest Forex brokers when trading. This is a Proven and Tested way of staying safe when trading Forex. Sign up with Reliable and Reputable Forex professionals who have your back. 

Always stay safe when trading with Forex. Sign up with Recommended brokers who will help you make money.

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