Deluxe Royals Forex Broker

Deluxe Royals Forex Broker - Complete Information Guide

1. Broker Overview

　　Deluxe Royals, founded in 2022, is a forex broker operating under Shad Lake Ltd, with its headquarters located in Bulgaria. As a private entity, it primarily serves retail clients, particularly targeting traders from Central and Western Europe, including countries like Germany, Switzerland, and the Netherlands. The broker has quickly gained notoriety for its dubious practices, as evidenced by numerous complaints and warnings from regulatory bodies.

　　The company claims to provide a range of trading services; however, its legitimacy has been questioned due to its lack of regulation. The broker operates on a model that includes forex trading, cryptocurrencies, and CFDs, but details about its operational history and significant milestones remain sparse. Since its establishment, Deluxe Royals has been associated with fraudulent activities, leading to its classification as a scam broker.

　　The business model of Deluxe Royals appears to focus on retail forex trading, but the absence of a regulatory framework raises concerns about the safety and reliability of its operations. This lack of oversight means that traders engaging with the Deluxe Royals broker are exposed to significant risks, as there are no guarantees regarding the protection of their investments.

2. Regulatory and Compliance Information

　　Deluxe Royals operates without any valid regulatory oversight. It is not registered with any recognized financial authorities, which is a major red flag for potential investors. The Bulgarian Financial Supervision Commission (FSC) has issued warnings against the broker, indicating that it does not comply with the regulations set forth by the European Securities and Markets Authority (ESMA).

　　The broker has not provided any regulatory numbers or licenses, further solidifying its status as an unregulated entity. Additionally, there is no information available regarding customer funds segregation, which is a critical aspect of investor protection. The absence of participation in investor compensation schemes raises further concerns about the safety of client funds.

　　Deluxe Royals has not disclosed any Know Your Customer (KYC) or Anti-Money Laundering (AML) compliance measures, which are standard practices for regulated brokers. This lack of transparency and adherence to regulatory standards poses a significant risk to traders considering to engage with the Deluxe Royals broker.

3. Trading Products and Services

　　Deluxe Royals offers a limited range of trading products, primarily focusing on forex currency pairs, CFDs, and cryptocurrencies. The broker provides access to various trading instruments, including:

• Forex Pairs: Major pairs such as EUR/USD, GBP/CHF, and CAD/JPY.
• CFDs: Covering indices, commodities, stocks, and cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH).
• Special Products: The broker also claims to offer unique trading options, although specific details are not well-defined.

　　The frequency of product updates and the introduction of new trading instruments are not clearly communicated, leaving potential clients in the dark about the evolving offerings. The broker's retail trading services are aimed at individual traders, while institutional services and white-label solutions are not prominently featured.

　　Overall, the product range of the Deluxe Royals broker is not competitive, especially considering the lack of regulatory oversight and the associated risks.

4. Trading Platforms and Technology

　　Deluxe Royals utilizes a web-based trading platform, which lacks the sophistication and features commonly found in industry-standard platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). The platform offers basic functionalities, including elementary charts and indicators, but does not support advanced trading tools that many traders rely on for effective analysis.

　　There is no dedicated mobile application for iOS or Android, which limits traders' ability to manage their accounts on-the-go. The platform's execution mode is not clearly defined, raising questions about whether it operates on an ECN, STP, or Market Making model. Additionally, details regarding server locations and technological infrastructure are not disclosed, which is crucial for assessing performance and reliability.

　　The lack of support for API integration and automated trading further diminishes the attractiveness of the Deluxe Royals broker, making it less appealing for serious traders who require robust trading solutions.

5. Account Types and Trading Conditions

　　Deluxe Royals offers several account types, each with varying minimum deposit requirements and trading conditions:

• Student Account: Minimum deposit of €250, with spreads starting at 3 pips.
• Standard Account: Requires a deposit of €5,000, with tighter spreads of 2 pips.
• Islamic Account: Minimum deposit of €10,000, with spreads also starting at 3 pips.
• Investor Account: Requires €100,000 for entry, offering spreads of 1.7 pips.
• Deluxe Royals VIP Account: A minimum investment of €500,000 is needed, with similar spreads as the investor account.
• Deluxe Royals VIP Platinum Account: The highest tier, requiring €1,000,000, with the most favorable spread of 1 pip.

　　The broker does not offer a demo account, which is a significant drawback for traders wishing to test the platform before committing funds. Leverage details are not disclosed, which is essential for risk management, and there is no information about overnight fees or commissions, leaving potential clients with unanswered questions about the trading costs associated with the Deluxe Royals broker.

6. Fund Management

　　Deluxe Royals supports a limited range of deposit methods, primarily focusing on credit and debit card transactions. The minimum deposit requirement varies by account type, starting at €250 for the student account. However, the broker has not provided clear information regarding deposit processing times, which can lead to uncertainties for traders.

　　Withdrawal methods are also restricted, and the broker imposes significant fees on withdrawals, particularly for clients who have not engaged in trading activities. The withdrawal policy states that a minimum fee of 30% or €80 will be charged, which can be quite steep compared to other legitimate brokers. Additionally, the withdrawal processing times are not specified, raising concerns about the accessibility of funds.

　　Overall, the fund management policies of the Deluxe Royals broker are not competitive and can pose significant challenges for traders looking to manage their capital effectively.

7. Customer Support and Educational Resources

　　Customer support at Deluxe Royals is limited, with no clear channels mentioned for assistance. There are indications of email support, but specific contact details and response times are not provided. The absence of a dedicated phone line or live chat service further complicates the support experience for clients.

　　The broker does not appear to offer extensive educational resources, such as webinars, tutorials, or eBooks, which are essential for traders looking to improve their trading skills. Market analysis services, including daily insights and research reports, are also lacking, which can hinder traders' decision-making processes.

　　The limited support and educational offerings at Deluxe Royals broker may leave clients feeling unsupported in their trading endeavors, especially in a market that often requires ongoing education and assistance.

8. Regional Coverage and Restrictions

　　Deluxe Royals primarily targets clients in Central and Western Europe, with a particular focus on Germany, Switzerland, and the Netherlands. However, the broker does not provide detailed information about its regional offices or specific coverage areas.

　　Notably, the broker does not accept clients from countries where regulatory oversight is stringent, which could include regions like the United States and Canada. The lack of transparency regarding client restrictions and regional regulations poses additional risks for potential investors, as they may inadvertently engage with an unregulated entity.

　　In summary, the Deluxe Royals broker operates in a highly questionable manner, lacking the necessary regulatory oversight and transparency that traders expect from a reputable broker. As such, potential clients are strongly advised to consider the risks associated with engaging with this broker and to seek out alternatives that offer better protection and support for their trading activities.