Royal Forex Trading Ltd: Should You Rely On a Forex Trading Platform?
A large number of our clients have demonstrated that online Forex trading can be unrewarding and dangerous. Trading Forex fraud is generally widespread because it happens online, and it can be challenging to pin down the offenders. Still, legal ways exist to recover your lost funds if you have been a Forex broker victim.
Based on our experience, Forex broker trading websites sometimes give false information, promoting that Forex can make you rich. [Sources: 3]
Anyone looking for a Forex broker should only work with licensed and verified brokers. Roinvesting – Royal Forex Trading is a multi-licensed broker that encourages learning about forex trading. However, the trading platform reveals that 70% of traders who invest in their products are losing money (see picture below).
Based on our experience as Financial Lawyers and Fraud Lawyers, we have defended many retailor traders who had financial disputes with Forex investment firms. Therefore, our Law Firm has the legitimacy to share the necessary public information on Forex investment practices in general and particularly on Roinvesting Royal Forex Trading or OneRoyal Forex.
How Could You Consider if a Forex Broker is Reliable?
Based on our sources, Royal Forex Trading provides indicators and generates conflicting trading signals that often confuse traders and may lead to losses. [Sources: 2, 6, 7]
Royal Forex Trading Regulation and Reliability
The Cyprus Securities and Exchange Commission regulates Royal Forex, founded in 2015. Therefore, the Forex platform shall comply with the MiFID Directive.
Royal Forex advertises that they are eligible for European regulatory status, so it guarantees security to Investor Funds. The Financial Services Act of the USA gives a license to Royal Financial Trading. Documents on the AML and KYC policies followed by this brokerage are available on the websites. [Sources: 0, 1, 2, 4]
Based on CySEC regulation, it should be safe to invest in a Forex platform. However, the trading platform also has other offshore laws which may interfere in case of litigation.
OneRoyal– Royal Forex Trading Ltd, a Multi-Licensed Broker: Does Forex Investment Firm Protect Your Investment?
Financial Market Authorities alert individuals using Forex platforms’, such as Royal Trading, to pursue purely speculative objectives.
In our opinion, investors should use such complex financial products only if they can ensure that they understand the risks. If you cannot understand foreign exchange trends and profit indicators, Forex is not a safe placement for your investment.
These financial products may not be suitable for all customers, but they work well for those who have a strong interest in investing and risk management. [Sources: 2, 3]
We will see more details about the Royal Trading Group of Companies in the Financial Forex Broker Review. The company is a registered Cypriot investment firm and a member of the Investor Compensation Fund. On the ROinvest Review CySEC website, we find that the trading platform has the following licenses :
Royal Financial Trading Licenses
• Royal Financial Trading Pty Ltd – authorized by ASIC (Australia) registration ABN 30157780259 ACN 157 780 259
• Royal Financial Trading (Cy) Ltd – authorized by CySEC (Cyprus) registration no. 312/16
• Royal Financials SAL – authorized by CMA (Lebanon) as a Financial Intermediary Institution license no. 15
• Royal CM Limited – licensed and regulated by VFSC (Vanuatu) company number 700284
• Royal ETP LLC – authorized by FSA (SVG) company number 149LLC2019
[Sources: 0, 2, 7]
However, Royal Forex Trading’s model allows the company to offer micro-lots, i.e. micro-lots traded at a ratio of 1: 50 and with a maximum leverage of 1.5%. [Sources: 1, 5]
As far as the cost of trading is concerned, Royal Forex Trading may not meet most traders’ requirements. Above all, each broker has its price range, and you can expect higher spreads due to the large volume of micro-plots available to traders and a higher error rate. [Sources: 1]
Royal Financial Trading charges just $50 to open a classic live trading account, with the highest types requiring higher deposits. Deposits are easy to make as one broker supports 13 payment methods and offers, but we could not find information regarding withdrawals. (More details in sources regarding the different payment options available to Royal Forex traders.) [Sources: 2]
Financial Fraud Lawyer Defends Victims of Financial Dispute and Forex Broker Misconducts.
According to the Investments in Financial Securities Directive-MiFID-requirements, Royal Forex Trading has to obey guiding laws in providing investment services (truthful, transparent information, client best interest.)
Moreover, any Forex broker Firm may commit legal breach actions that engage their liability during the investment process. It is also possible that it deliberately acts to increase its profit. In such a situation, victims have the lawful means to recover their losses.
Our Law Firm Network of Financial Fraud Lawyers is a team of European specialists familiar with the European, French, Bulgarian, and Cypriot legislation applicable when you have lost funds to financial fraud. Based on different specific legislation and European laws, our legal experts aim to help Forex victims to recover their lost funds.
How to Protect Yourself Against Forex Fraud and Financial Disputes?
As a general rule, be very careful if you are guaranteed high returns without risk. Significant returns without risk, there is no such thing.
Meanwhile, please do not believe the advertisements that claim their methods are 100% safe or try to sell you expensive software or training seminars, as these ads claim you will become an expert so you can make money fast.
Financial Fraud Lawyer regularly issues information to consumers and professionals, and future professionals in the industry. Stay on top of our communications by subscribing to our various newsletters.
Sources used in Royal Forex Trading Ltd Review :
The Fraud lawyers at Law Firm Mikov & Attorneys and the author of roinvesting – Royal Forex Trading Ltd Review and Press Release are regularly engaged in collecting and disseminating financial brokers’ information to the public through Forex Broker Review. This Press Release aims at sharing experiences and warning the interested parties in good faith. It is based on Financial Public Authorities reports, dating from February 2021.