Read our Royal Trade FX review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a royaltradefx.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Royal Trade FX is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Royal Trade FX in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Royal Trade FX Review Conclusions
Making the Royal Trade FX review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Royal Trade FX review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Royal Fx Trading, website http://www.royalfxtrading.com or/and Maria Sharon, presenting herself as a trader working only through whatsapp is a SCAM.
Do not give any money (Moneygram, Bank Transfer, BTC buy through Binance or/& Simplex) or buy Bitcoins with them, it’s all fake and you will end up ignored as soon as they have taken a lot of money from you.
That ‘Maria Sharon’ will literally harass you and be very pushy to scam you. Example of message “Add to your trade okay!”, ”have you seen your trade, it’s growing fast, add to your trade, send me screenshots okay!”
That is MOST interesting thank you very much indeed. Yesterday I spotted what appeared to be a Daily Mirror article that screamed “Elon Musk Invests £12 Million In New Trading Platform – Releases To Public, Making Ordinary People Wealthy.. ” by one “Rose Hill” with yesterday’s date on it. When I investigated further I was unable to identify the said ‘New Trading Platform’ requiring an initial investment of a mere £250.00, and got linked through to Royal FX.. as soon as I’d inserted my phone number a man called me, before I’d even finished completing the form .. whose manner induced cold feet. Thankfully I havre not made a deposit, but am questioning the authenticity of the Mirror ‘webpage’ when the address is ‘nonnutritiously dot com’! I would like to find a regulated registered broker that handles Bitcoin investment .. perhaps I should ask my bank too. Thanks again for solving a problem before it became a problem.
Totally agree with the last comment, same happened to me , made the Deposit £250 then you got a account manager, James Talarico !!
Wanted me to invest 5k said thank god , they took me for Just under 3 thousand pounds , total scam ,
Absolutely a first class scam, I made the first 250 GBP deposit, and the pressure they apply is invest more is enormous, 10/15 calls a day. when my “assets” reached 6000 GBP in 5 weeks they said they couldn’t do any more trades as I was at the limit for a basic account. Thankfully I had no broadband connection at the time and said I would wait till I had one and would not invest more till then. 6 weeks later the broadband was installed and they started calling me again. I said I wanted to see if this was real and wanted them to transfer some of the funds to my account, surprisingly they transferred 150 GBP to a crypto account they said I had to create and then I transferred that to my HSBC account, so now I’m only 100 GBP out. More then pressure to invest 10K then which I said no to unless they transferred a sizeable amount back to me which they said they would do IF I paid the capital gains tax to them LOL!! so I just let them keep working – to be honest they worked very hard for 100GBP and are still calling me saying they will transfer all my “assets”, without CG Tax, If I send them the 650 GBP transfer fee LOL,,,, WATCH OUT FOR THESE GUYS especially one called Oscar……………….
How do I withdraw from my fx Royale
How do I withdraw from my FX royale?
Have a woman named Amanda Chris, with ROYALFXTRADERS…claiming she GUARANTEE’S that if I invest $500, in 72 hours I have $2499!!! I mean I know NOTHING about trading crypto, and I know that’s ludicrous!!!
But, people get excited about easy money. Cloud’s your judgement!!! Thank God, I am not a young impressionable kid, because I’d be afraid if my 17 year old would have seen this. Maybe not. Their hip to a lot of scams…being so fluent online.
Anyway, the only thing ,ROYALFXTRADERS, and I have in common, is that neither of us trade crypto!!!