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Royal C Bank Review - is it scam or safe?

Royal C Bank review - Is royalcbank.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Royal C Bank
Royal C Bank is an offshore broker. Your money is not safe.

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Royal C Bank presents itself as a CFD broker, offering 6 account types, all of which with welcoming bonuses of between 30% and 80%. And basically they say to be focused on the crypto market, offering trade with popular coins like Bitcoin, Litecoin, Ethereum and Bitcoin Cash.

 

Account type Min. deposit Max. leverage Spreads
Basic Account $250 n/a n/a
Beginner Account $10 000 n/a n/a
Medium Account $25 000 n/a n/a
Advanced Account $50 000 n/a n/a
Pro Account $100 000 n/a n/a
VIP Account n/a n/a n/a

 

Unfortunately the broker is not licensed and what is worse it actually tries to mislead investors about its regulatory status, so before depositing any funds with Royal C Bank better read the following lines.

 

Royal C Bank Advantages:

 

We usually start our reviews with any positive side about a broker, we may come up with, but in the case of Royal C Bank there are simply no positive sides, except perhaps their minimum deposit requirement – 250 USD, which is more or less in line with what other brokers would also require.

 

Royal C Bank Disadvantages:

 

No license, falsely claims to be regulated by the FCA

 

Royal C Bank wants their customers to believe they have offices in Switzerland  and the UK, while in fact the company behind them -  Maraya Capital LTD is based in Sofia Bulgaria.

 

And that would not have been a problem if they were regulated by the local Financial Supervision Commission (FSC) – a reliable EU regulator, or let say by the Financial Conduct Authority (FCA) in the UK as they claim:

 

 

 

That however is not the case - Royal C Bank is a unregulated, virtually anonymous website, which does not have legal right to target customers on regulated markets like the EU, the U.S., Australia, Canada or Japan. 

 

Actually they claim to be regulated by something called “Financial Commission”, which is not an official national regulator like the FCA in the UK, the Australian Securities and Investment Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC), but simply a website used by scammers to confuse inexperienced traders.

 

So our best advise as usual is to deal only with brokers, holding legit licenses from official institutions such as the FCA in the UK, CySEC in Cyprus or the  ASIC in Australia – those are the three most popular regulatory hubs in the forex industry.

 

Besides, here you may also check our list of FCA brokers, where your trading account will even be insured for up to 85 000 GBP:

 

>>FCA Regulated Forex Brokers<<

 

Offers TeamViewer and Anydesk – favorite scam tools

 

TeamViewer is a specially designed software application for remote control, desktop sharing, online meetings, web conferencing and file transfer between computers, and so is Anydesk. And the reason why we got so worried when we saw those programs on the Royal C Bank homepage is that they are a favorite scam tool.

 

Gullible investors are tricked to install them on their PCs and than share everything under some pretext, like help with trading basics or funding a trading account. The danger is obvious - when scammers get to your PC, they will also acquire full access to your personal banking details, like your credit card number and online banking password, and will steal money directly form your bank account.

 

You can see TeamViewer and Anydesk on the screenshot above. 

 

Trading bonuses used as a pretext to cancel your withdraw requests 

 

As we already noted Royal C Bank offers welcome bonuses with all of their accounts. And as attractive as this may seem, it is basically just another excuse to refuse any withdraws. The problem with all trading bonuses in general is that they always come with strings attached – a minimum trade volume requirement, that should be met before requesting any withdraws. 

 

And now imagine what will happen, if in their Terms and Conditions scammers also reserve the right to change their bonus policy on a whim. 

 

Skrill not accepted as a payment method

 

Take a note as well that Royal C Bank accepts payments only with VISA, MasterCard, bank wire and crypto coins, but not for example Skrill. That is also notable, as recently the money transfer company adopted a new anti scam policy, according which it allows only licensed brokers to use its services. As we already noted  Royal C Bank does not have a legit license.

 

No demo account 

 

Not only Royal C Bank does not offer a demo account, but in pratice we were not even able to see their trading platform, which is supposedly a web based one. As for their trading conditions, we can not comment on them either, as the broker does not mention neither spreads nor leverage in their presentation. So here you may want to check our list of brokers, offering tighter spreads instead:

 

>> Lowest spread forex brokers<<

 

Conclusion:

 

The fact that Royal C Bank wants to deceive us that they are regulated by the FCA in the UK, combined with the trading bonuses and the presence of Team Viewer and Anydesk convinced us that here we are dealing with typical scammers. Stay away and trade only with licensed brokers, authorized by an official regulatory institution like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for Royal C Bank

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