Do you want to trade with RoyalOptiontrade.com broker? Carefully read Royal Option reviews to know why you should not trade with this broker.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Royal Option?
Royal Option FX located at RoyalOptiontrade.com is an offshore brokerage company with lot of promises for forex traders . The company is based in London, UK.
The broker offers different account types like —-
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Royal Option Minimum Deposit:
Royal Option FX deposit is indicated $250 based on the account type. In contrast, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Meanwhile, the Royal Option website states that deposits and withdrawals are possible via credit cards, wire transfer and e-wallets such as Neteller and Bpay.
Royal Option withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Royal Option Platform:
Royal Option presents its own trading platform, but it doesn’t actually provide access to any software. This is typical of scam schemes that prefer to handpick their potential victims by spamming social networks and online forums.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for Royal Option leverage, it can get up to 1:500. This provides us with further evidence that Royal Option could not really be a licensed broker based in the United Kingdom or a European Union member state
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Things You Should Know about RoyalOptiontrade.com Regulation
First of, Royal Option provides a UK contact address. However, there is no authorised broker in the UK’s Financial Conduct Authority (FCA) database using the Royal Option trade name and domain.
Royal Option does not disclose the name of the company behind this website. Even the text of the Terms and Conditions does not state the name of a legal entity.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Royal Option Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Royal Option located at Royaloptiontrade.com disguising to be a trustworthy trading broker, howbeit, that presentation cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on February 14, 2023 by Danny