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Royalsfx (Royalsfx.co) is another bane CFDs, Cryptocurrency, and Forex scam to hit the lucrative trading world. Royals FX is claiming to be a platform that gives users ability to tap into the future. These claims are nothing but a sales pitch to entice users to sign up with them. A number of victims have turned up and angered by RoyalsFX. Read this genuine and honest ROYALSFX Review for more details.
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From the touching emails we received, an investigation was underway to get to the bottom of things. It turns out Royalsfx is another online scam targeting unsuspecting investors. With an eye-catching web design, it is easy to fool newbie investors. These scam artists have cloned a real trading website and used that information as their own. And this is why we must expose these scam artists so that we can protect newbie traders. Ensure you read through this review and get to know the tricks used.
Professionals scam artists will do or say anything to make their platform appear legit. In Royal FX’s case, they have cloned a trading website and hired call agents. The calls members receive from purported account managers are hired call agents. These call agents act as account managers and give false data to users. Members are also bombarded with calls urging them to deposit more funds and get a higher winning margin.
Royalsfx is claiming to be based in Geneva Switzerland. A closer look at the register of companies in this region suggests otherwise. No company has been registered under this name in Switzerland. We also checked with various company registers across Europe for confirmation. None of them has ever heard of this platform. And this is concrete proof we are dealing with a sinister online trading platform. More bad news is on the way for those planning to sign up with this ridiculous platform.
A closer look at the trusted domain register platform whois.net reveals the whole truth. Royalsfx is a platform which was recently registered, 9th December 2019. Another disturbing feature with this platform is the fact that they have been fully anonymous. No one has the actual names of the founding members of this platform. You won’t get to know the names of the CEO or CFO of the mother company. Smart investors know better than to associate with anonymous online investment platforms, they are a hoax.
The Swiss official governing body FINMA has no platform licensed under this name. We checked with the register to confirm our fears. To be safe, we also checked with various online regulatory companies. Some of the institutions we contacted include ASIC, CONSOB, CySEC, FCA, FMA, and NFA. None of these bodies has ever heard of this platform. And the evidence is clear, Royalsfx IS NOT LICENSED to offer any Forex trading services. Whoever signs up is risking depositing their funds with an unknown broker.
Why has the platform failed to issue or post their license certificates and documents? You would expect the platform to have posted their license number for all to see. Since the platform is not licensed, they choose to ignore it. A real trading platform will post copies of their license certificates for all to see. Without any valid trading license or registration number, you need to stay away from such a platform.
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We could not find any trading advantage with this platform. The first issue we have with Royals fx is lack of a proper license detail. It would seem that a number of investors have failed to gain access to their accounts. Most of these members noticed they could not gain access to their accounts after sending a withdrawal request. A platform that does not allow members to withdraw is an online scam.
Royalsfx is not furnishing users with any account type which is sinister to say the least. You would expect a platform to offer at least one account type for all to use. The problem with failing to have accounts is transparency. No one knows the minimum acceptable deposit requires to trade with this platform. Some of the members were asked to deposit over $5,000 to start trading. You should know that the industry has set $250 as the required minimum deposit for all trading platforms.
A demo account is critical in every trading platform as it helps users gauge how well a platform behaves. RoyalsFX is taking advantage of their demo account by rigging the results. With a demo account, investors get to know more about the advanced tools and speed of executing trades. These scam artists ensure that the trades with their demo account produce over 98 percent success results. To be honest, this result margin is never going to be realistic in the real world. Scam artists do this to fool investors into believing they can get the same results with a real account.
When it comes to the depository channels available, this platform has the area well covered. You can deposit funds using a number of methods. These payment methods include Bitcoin, MasterCard, Neteller, Skrill, Visa, among others. The main problem with this platform is refusing members to withdraw funds. No documents show how long the members have to wait to withdraw funds. And this is another loophole these scam artists are doing to delay paying members.
Royals Fx is claiming to have a mobile and web trader, they also profess to have MT4 trading platform. The main problem with their mobile and web trader is compatibility. Most smartphones are not compatible and their web trader fails to work on Windows OS. Unstable platforms are a major security threat since they don’t have proper security features. Lack of DDoS and SSL encryption is proof we are dealing with a rogue and unstable platform.
The platform fails to segregate accounts which mean Royalsfx is pooling funds in one account. Members are depositing funds straight to scammer’s bank account. Never expect any compensation with this platform as they don’t participate in a compensatory scheme. No recovery agent will be able to get back your funds, they too are scam artists.
With the evidence already provides, it is clear Royalsfx is a scam waiting to pounce on investors. This review is geared to protect our readers and ensure you know what to expect with this scam. Make sure you warn your family and friends from joining any of their affiliate programs. Mark all their emails as spam and never click on any link sent by their email marketing team. Any interaction with their links will give hackers access to your PC.
We will be adding this platform to our scam blacklist and ensure no one else falls for this trap. Stay away and never pick calls from their call agents.
Why not use professional brokers who have a ton of experience? With the right broker by your side, chances of winning increase.
Wishing all traders the very best.
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