Is Royal Capital Trade a scam

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Royalcbank.com Review: Is Royal C Bank A Scam?

Royal C Bank Review: this is the name of a Forex broker that is run by a Bulgaria based company. Is Royal C Bank a legit or scam broker?

We find many red flags concerning this broker that gives serious doubt regarding it legitimacy. The first is that the website, Royalcbank.com blocks Google from giving information on it. Although it comes up in searches, it is not accessible for now.

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Also, like we stated above, it is located in Sofia, Bulgaria. The company name is Maraya Capital LTD and yet, Royal C Bank claims to be regulated by FCA and MiFid.

Its page is rather looking less likely to be legit because many of the needed corporate details are missing. These details are what we look out for in a standard broker.

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Royal C Bank Trading Platform

The trading platform that this broker offers to traders is not mentioned. We do not find this encouraging.

This is because legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not also listed, another discouraging discovery that is uncommon among top Forex brokers.

Leverages offered on the various account types are missing along with their spreads. This further compounds our disappointment.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Royal C Bank

From the website, we find that this broker basically only allows transactions via credit and debit cards. Again this is a disadvantage to them.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $250 is required to trade with Royal C Bank, this looks like the only good thing about the broker. The minimum is within the obtainable average among brokers. Nothing is said about withdrawal charges and fees.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Royal C Bank Licensed?

No. The broker falsely claims to be licensed by FCA and this is not true. Instead we find that it mentions the ‘Financial Commission’ that is found to have published a release on this. At FinancialCommission.org we find that Royal C Bank has been added as one of its members in July 2020. However, this website is a scam and not the legit one belonging to the FCA.

Asks Clients To Install AnyDesk

Like we have pointed out several times, the AnyDesk application can grant access to your computer from another one. Any broker that asks you to do this is trying to get illegitimate access to your device and should be avoided. Royal C Bank asks clients to install AnyDesk.

Support

To contact this broker, you can send an email to [email protected]

Conclusion

This broker does not allow payment via e-wallets as they require some degree of legitimacy. Royal C Bank holds no license and tries to give misleading information on that. Trading conditions are hidden and shows lack of transparency.

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Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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