RoyalsFX Broker Review 2020

General Information

Website URL: https://www.royalsfx.co/

Regulation: N/A

Languages: English, German and Russian

Deposit methods: Debit or Credit Card, Wire transfers, ePayments

Minimum deposit: $1000 for Micro Account, $5,000 for Classic Account, $20,000 for Silver Account, $50,000 for Gold Account, Individual for Platinum Account

Demo account: Yes

Types of assets: Forex, CFDs, Cryptocurrencies

RoyalsFX is a Switzerland based broker with many different opportunities for clients. When you look at their website, you will see numerous options and educational material. But one thing is missing — the licence. So, let’s see if we can still trust them, even though this is an unregulated broker.

Trading Platform

RoyalsFX offers a downloadable MT4 platform as well as their Web Trader. When it comes to Web Trader, they developed it with professionals like financial experts, Forex traders and mathematicians. They took the knowledge they had and made a platform that will provide each client with an amazing experience. That said, you will find every information you need instantly, without searching.

They made a simple design and we find it easy to navigate through. Aside from that, it’s fully customisable, so if you don’t like how they arranged it, you can rearrange it.

Of course, they offer a mobile app too. Once you download it you will have the same possibilities as you have on the desktop. That is a great addition since many traders like to check their account and see new offers during the day.

Account Types

When it comes to this part, RoyalsFX offers a lot of options. They have five different account types, so you can choose according to your preferences.

Micro Account

The minimum deposit is $1000. You do not have trading signals if you choose this one, but you can trade on desktop and mobile. Plus, there are up to 10% bonuses.

Classic Account

The one where the minimum deposit is $5000. It has somewhat better possibilities than the previous one. Bonuses are up to 20%, and you have trading signals.

Silver Account

Trading signals, personal business plan, flexible spreads and swaps and up to 40% bonuses are waiting for you if you choose Silver Account. But you will have to deposit a minimum of $20,000.

Gold Account

The minimum deposit for this account is $50,000. If you choose it, you have a possibility to win up to 75% bonuses and have different offers like Individual Money and risk management plan, trading instruments and no withdrawal fees.

Platinum Account

The minimum deposit is individual. You will have unlimited live sessions with the Head Analyst, the lowest spreads and swaps, no withdrawal fee, market psychology coaching, signals and annual traders’ convention.

Customer Support

If you wish to contact someone from RoyalsFX, you won’t be able to do it with Live Chat, since they do not have that option. Instead, you can send an email or call their agents. Keep in mind they don’t work 24/7, so the usual waiting for a reply is 24 hours.

This is the thing that we really do not like. They provided the clients with so many opportunities, so it would be nice to provide them with constant support, too. If someone has an urgent problem, they won’t solve it instantly.

Deposit and Withdrawal

Here comes the interesting part. When you look at the deposit or withdrawal process, everything is just fine. To withdraw funds, you have to go to the Client Area and open a withdrawal request. After that, download the PDF form and fill in the information. Once you send them the form, they will go through the approval process, and you will have money on your account within three to five business days.

But the problem we have is fees. They charge a lot. For Wire Transfer, the fee is 50.00 USD/GBP/EURO. For credit cards is 25.00 USD/GBP/EURO, plus an additional processing fee of 10.00 USD (7.00 EUR or 5.00 GBP). For ePayments you need to pay 25.00 USD/GBP/EURO.

Aside from all that, there is an additional 10% levy. So, if you have not executed more than 200 in turnover, or your account is not verified, you need to pay an extra levy of 10% of the withdrawal amount.

Education

Now, we’ve come to the part that excites us the most. Once we read that RoyalsFX is owned by professional traders, we knew they could teach clients a lot. And we were right. They have over 150 video courses, comprehensive eBook library, advanced and expert live daily webinars. In addition, there is an option for advanced funds management and Demo Account.

As you can see, they are trying to work on clients’ education, which is a great thing.

So, now that you know everything about RoyalsFX, it’s up to you to decide whether these opportunities are good enough for you to set aside the fact they don’t hold any licence.