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RoyalCFDs Review - is it scam or safe?

RoyalCFDs Review - is royalcfds.com scam or good forex broker?

RATING: 1 / 19 REVIEWS RoyalCFDs
RoyalCFDs is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Account type Minimum deposit Minimum trade siz Maximum leverage Spreads
Regular $500 0.01 1:100 3.0 pips on EUR/USD

 

RoyalCFDs is a forex and CFD broker that offers the above account type plus several VIP ones – Ruby, Emerald, and Diamond. In this review, we will focus on the offering of the Regular acccount, as the rest require very high initial investments (more than $10 000).

 

In addition, the broker also has an Islamic swap-free account, custom designed for traders who are unable to receive or pay interest or profits due to their religious beliefs.

 

 

 

RoyalCFDs Advanatges:

 

- 2 platforms available, including MT4

One of the few strong sides of RoyalCFDs is that supports the MetaTrader 4 platform, like more than 80% of the brokers we are reviewing. Although launched more than 10 years ago, the MT4 is still the preferred choice of most traders, both professional and beginner ones. It is easy to use, fast and reliable. Also, it has great charting and automated trading options (commonly referred to as Expert Advisors). Besides, if you are good at coding, you can create your own indicators and EAs.

 

As we could not test RoyalCFDs’s MT4 in demo mode and this broker is not regulated, we suggest that you check out the below link.

 

>> Find a better MT4 broker <<

 

 

In addition, the broker also offers a web-based platform that requires no download. This trading interface also seems good, as t offers advanced charting with wide range of technical analysis indicators.

 

- Many financial instruments, cryptos included

This broker offers trading in wide range of financial instrument, including currency pairs, CFDs on indices, commodities, stocks and the hottest new assets for CFD trading: cryptocurrencies. Clients of RoyalCFDs can trade in Bitcoin, Ethereum, Ripple, Dash, Litecoin and more, against several fiat currencies.

 

If you are keen on trading in Bitcoin, you’d better choose a brokers that is licensed and reliable, as RoyalCFDs is not.

 


>>Trade Bitcoin with a trusted forex broker<<

 

 

-Reasonable leverage ratios

The maximum leverage levels provided by RoyalCFDs is 1:100. Although most brokers provide higher ratios, we believe this will be sufficient for most trading styles. Besides, leverage levels higher than this can easily and quickly result in serious loss, should the market move against you

 

 

RoyalCFDs Disdvantages:

 

- Not regulated 

The company allegedly owning and operating this brokerage, DIGITAL WORLDWIDE OU, is an Estonian company, which is not regulated by any appropriate agency. It is simply registered in the country. In our reviews we keep reiterating that investing with unregulated and/or offshore brokers is very risky and therefore such companies are not recommended.

 

- High spreads

The spreads of RoyalCFDs are not announced on its website, but a sneak-peak into their web-based platform reveals a fixed spread of 3.0 pips on EUR/USD, which is a very high value.

 

 

RoyalCFD's web-based platfor. Click on the image to zoom-in.

 

Most fixed-spread brokers provide 2 pips spreads for this pair, and some even lower. For example, easyMarkets offers a spread fixed at 1 pips on EUR/USD to all its clients who deposit $250.

 

- No functional demo

As we already mentioned, we downloaded RoyalCFDs’ MT4 but could not register a demo account and test it for the purposes of this review. This raises yet another red flag about the credibility of this broker.

 

- MT4 provided by another company

When we download it RoyalCFDs’s MT4, we saw that the company providing it is Bowbili Ltd., while the broker claims it is operated and owned by DIGITAL WORLDWIDE OU. This seems a bit odd, and what is worse, it appears that Bowbili Ltd. is an offshore company.

 

- High initial deposit

An initial investment of $500 is higher than what most brokers in the sector require from their clients as a start for live trading. Most importantly, a number of reliable and properly licensed brokers have lower initial deposit requirements. For example, one can open an account with easyMarkets by depositing $100.

 

 

Conclusion

 

RoyalCFDs is a forex and cryptocurrency broker that offers trading in wide range of financial instruments on both MT4 and a web-based platform.

 

However, its spreads are too high, and second (and more important), this broker does not appear reliable. It does not provide free functional demo accounts, and it is not regulated by the Estonian Financial Supervision Authority, nor by any other governmental agency.

 

Even if you are based in Estonia, as it is part of the EU, you can also do business with well-regulated forex brokerages licensed in the UK or Cyprus for example. These are famous trading centres, where clients of regulated brokers get proper protection, including compensation schemes coverage in the event of broker insolvency.

 

 

>> Trade with a forex broker regulated in UK <<

 

 

To sum up the above: 

 

Pros Cons
Two platforms available, MT4 included Not regulated
Multiple CFDs, including Bitcoin High fixed spreads
Reasonable leverage levels No functional demo accounts
  High initial deposit required
  MT4 provided by another company

 

Latest news about RoyalCFDs
No news about RoyalCFDs . Check back later.
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Traders` reviews for RoyalCFDs

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

got scammed

RoyalCFDs are ok until you want to draw money out then they dispersal and you cannot get a reply and the withdraw does not work they are very devious they are thieves and need to be convicted for theft (scumbags)

lindsay odell 04/19/2019

Scammed - they seem to have walked away with my money

I deposited money in my account and following an email from them I agreed to trade. I was then informed that my money was lost from bad trading option and they could work to get the money back. I asked them to do this but have heard nothing since December. I have emailed them for an update but I will not have any answer as they seem to have walked away with my money

Sian Jones 04/10/2019

So what you going to do about it?

If no one in authority is doing anything about the millions being stolen every day by these crooks and criminals, what use is it that people affected submit a complaint to you? What are you going to do about it?

Flourish 04/07/2019

Keep you money in the Post Office!

This company seems to be genuine and very caring. Until they have reached a point when they can't get any more money from you.
The figures are very encouraging and to all intents and purposes, you seem to make a lot of money easily.
I am a pensioner and wanted to increase my monthly income by £500, not a huge amount.
When I needed to withdraw some of my funds, I was told it would take a week or so, fair enough.
My funds were moved into a 'safe' place so that I didn't lose anything.
That's when RoyalCFDS stopped calling me. No matter how many emails I sent them, I got no response.
I wouldn't recommend anyone investing with them, no matter how much money you can or cannot afford unless you are prepared to lose it all.

Carolyn Bovingdon 04/06/2019

They are a joke and load of Sh!t

After depositing money, then trying to withdraw it, they just keep rejecting your withdrawal requests for ever and ever, they are feeding on us that expected something in return, even if it just getting our original deposit paid back.

Dian Pretorius 02/01/2019

If you want to lose your hard earned money give it to Royalcfds

Opened account with them with thankfully only £250. They kept phoning me to invest more but i decided to close my account and get my money back!!
there was around £179 left at that time. Someone called me and said they was from Royalcfds and wanted to give me my money back but first l had to open up a bitcoin account? Reluctantly l deposited £100 to open account then they would pay me back in bitcoin. Guess what Disappeared same as £250.They then kept placing trades on my account which l asked to cancel till all money was gone.

Please do not risk any money with these scammers.They are not Regulated so you have no chance of getting your money back.

Leonard speller 01/12/2019

RoyalCFDs - Don't go there

To all who is looking to invest in Royal CFDs

I started off investing £250, it was good at first the investments were growing but then so were the phone calls from my dedicated account manager who at that time was Red Pollard. Pressuring to invest more money.
More money makes more profits they say. I was happy the way things were going but the phone calls every day sometimes 2 or 3 times trying to get me go invest £10000, then it dropped to £5000. As my investments went up so did the problems I was unable to make any withdrawals the account was frozen emails to get them to reopen phone calls are a no no they can call you but you cannot phone them.
My investment grew to £6980.67 still unable to withdraw still they wanted more investment when I said no definitely no way was I investing any further money

My account was stripped by the Royal CFDs the sold without my knowledge or permission USD/TRY within 19 seconds closing with a loss of £2316. Within seconds did another selling of USD/TRY within 10 seconds has lost me a further £3283. So yes a wonderful experience of how go loose money so very very quickly I don't expect that no amount invested would get you any returns. My advice keep well away don't invest
Paul Mansfield .

paul mansfield 12/16/2018

Total scammers

Do not go anywhere near these people. They are not real, they are total scammers.And that is being polite. If there was a new outbreak of bubonic plague it. Could not start at a better place

Colin Wright 10/23/2018

Cannot Withdraw Money

Royal CFDS is not regulated. My experience with them shows that you should stay away from them. Look for a regulated broker. They'll not let you withdraw money. Their customer care tried to convinced me to invest a few thousand pounds. But I deposited $331 and right now my account is $255 but I'm not allowed to withdraw it. Please stay away from them. They are probably fraud.

Aero 10/06/2018

Scam

This is not an opinion it is fact.I was stupid enough to fall for it and lost £3000 which was most of my savings DO NOT GO NEAR

Colin Wright 10/01/2018

Not happy with this broker

I initially deposited £250 then within 2hours was encouraged to buy £5000 in Apple shares, so now have an account value of £5290 which fluctuates widely, might be £3500 then £7500, have asked for a withdrawal of £50. I feel out of my depth with this type of trading and have repeatedly emailed them to close the account but to no avail.

David Jackson 09/23/2018

Complain about the company

Hi have investment on this company for about two months, and was advised
By customers manager by name David that I will make good
Return on my investments, but the moment he had my
Money and I haven’t had anything from him , not answering my mail
And calls. I have realised that I was scammed by this company
And will not get anything back from them .....

Anyone try to invest on this company called royal cfds be warned
And take extra care ...

Abdi Yussuf 09/12/2018

Scam!

They have stolen a lot of money from me. Don't believe in anything they say!!

Jane 09/03/2018

Scam Traders / Criminals

These people will initially try to find out how much money you have to invest so they can suck all the money your worth out of you. They will manipulate results so that you will add money. It's impossible to withdraw money, they won't let you! And profits disappear like magic or snow in the sun. They are real criminals. They are registered in Estonia and the money is taken in Cyprus. You can never get it back. They are not regulated by any financial authority so they can steal all your money, and they will.

Robert van de Ven 08/24/2018

Conned out of money

Not my opinion but it seems quite a lot of people agree that this is a con, you took my deposit quick enough, almost instantly, but would not activate my account because i had not provided enough evidence of who I was, despite the fact that I have never been required to submit as much and as detailed evidence before, and then there is the promise of the phone calls to contact you, that never happen.
immpossible to contact them.

Daniel 08/07/2018

RoyalCFDs is a scam trader

asked for withdrawal. never get back to you. never respond to your request. I lost all my money deposit to this shit scam trader. they will blocked your phone number as well.

Felix 07/27/2018

stole money

worst brokers possible, if you can even call them that! Stole my money, places trades in my name with no authorisation!

james hamwick 07/18/2018

Scam trader

This site is a scam they take your money and then want more details about your bank your driving licence and other details more than any government department even. Chase you every day for a while then no contact and ask them for your money and you will never hear from them again. SCAM SCAM SCAM do not trade with them.

John Kelsall 07/16/2018

Royal CFDs is a terrible site

Royal CFDs is a terrible site, they take your money, and are all over you to start off with but as soon as you request a withdrawal their site starts playing up and they stop contacting you. I have lost over £30,000 with them. Do not go with them.

Nigel Gray 07/11/2018
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