Rating Index
Pros
Offers a variety of trading platforms, including MT4 and MT5, which are popular among traders.
Claims to provide a user-friendly interface and trading tools that may appeal to both beginners and experienced traders.
Allows clients to open accounts with relatively low minimum deposit requirements.
Cons
Unregulated status raises significant concerns about the safety and security of client funds.
Received warnings from the UK Financial Conduct Authority (FCA) regarding unauthorized financial services, indicating potential risks of fraud.
Limited transparency about operational practices and withdrawal processes, which could lead to difficulties for clients when attempting to access their funds.
ROYAL-DIGITAL broker Accounts
Royal Account Type
Royal offers several account types designed to suit various trading strategies and investor needs. The main account categories include:
- Individual Accounts: Suitable for single traders.
- Joint Accounts: Designed for multiple individuals, often used by couples or business partners.
- Corporate Accounts: For businesses looking to trade.
Zero Account:
Minimum Deposit: $50
Spread: As low as 1.4 pips (Classic) and 0.4 pips (VIP)
Commission: $0 per lot per trade (Classic) and $0 per lot per trade (VIP)
ECN Account:
Minimum Deposit: $50
Spread: 0.0 pips (Classic and VIP)
Commission: $7 per lot per trade (Classic) and $3.5 per lot per trade (VIP)
- Visit the Royal Website: Go to the official Royal website.
- Select Account Type: Choose the type of account you wish to open (Individual, Joint, or Corporate).
- Fill Out Application: Provide your personal information, including name, email, mobile number, and country of residence.
- Upload Documents: Prepare to upload documents for verification, such as a passport or national ID, and proof of residency (utility bill or bank statement).
- Account Verification: Wait for the account to be verified, which typically takes around 1 day.
- Make Your First Deposit: Once verified, you can fund your account with a minimum deposit of $50.
Within these categories, Royal provides two primary account types based on fee structure:
The maximum leverage for professional clients is 1:1000, while for retail clients, it is 1:30. Royal supports multiple base currencies, including AUD, USD, EUR, and more.
Royal Broker Account Opening Process
Opening an account with Royal is a straightforward and fully digital process. Heres a step-by-step guide:
Royal also offers a demo account for practice, allowing users to familiarize themselves with the trading platform without financial risk.
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