Royal Broker Forex Broker

Royal Broker Forex Broker - Complete Information Guide

1. Broker Overview

Royal Broker, operating under the name of Goldman Global Group, was established in 2005. The company is headquartered in Belize City, Belize, with additional offices located in Limassol, Cyprus, and London, United Kingdom. Royal Broker is a private entity, not publicly listed, which raises certain considerations regarding transparency and accountability.

The broker primarily serves retail clients interested in trading a variety of financial instruments, including forex, CFDs, cryptocurrencies, indices, and stocks. Over the years, Royal Broker has aimed to expand its market presence, catering to a diverse clientele across various regions. The company's development has included establishing a reputation in the online trading sector, although it has faced scrutiny regarding its regulatory status and operational practices.

Royal Broker operates under the umbrella of Goldman Global Group, which encompasses several subsidiaries located in different jurisdictions, including Goldman Ltd. in Hong Kong and Global Asset Ltd. in the Cayman Islands. The business model primarily focuses on retail forex trading, offering clients access to leverage and a range of trading products.

2. Regulatory and Compliance Information

Royal Broker claims to be regulated by the International Financial Services Commission (IFSC) of Belize and the British Virgin Islands Financial Services Commission (BVIFSC). However, multiple sources indicate that the broker is not listed in the registries of these regulators, implying a lack of proper licensing. This absence of regulation poses significant risks for clients, as they would not have the protections typically afforded by regulated entities.

Regulatory Bodies:

• International Financial Services Commission (IFSC): No registration found.
• British Virgin Islands Financial Services Commission (BVIFSC): No registration found.

Customer Fund Protection:

Royal Broker does not provide a clear policy on the segregation of client funds, which is a critical aspect of financial safety. Without a regulatory framework, clients are at risk of losing their investments without recourse.

KYC and AML Compliance:

The broker claims to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations; however, the effectiveness of these measures is questionable given its unregulated status.

3. Trading Products and Services

Royal Broker offers a diverse range of trading products, catering primarily to forex traders. The broker provides access to a wide selection of currency pairs, including major, minor, and exotic currencies. Furthermore, it offers trading in various CFDs, including indices, commodities, stocks, and cryptocurrencies.

Forex Trading:

• Number of Currency Pairs: A broad range, including major pairs like EUR/USD, GBP/USD, and USD/JPY.

CFD Products:

• Categories: Indices, commodities, stocks, and cryptocurrencies.

Unique Offerings:

While Royal Broker provides a variety of products, it lacks unique or proprietary trading instruments that differentiate it from competitors. The frequency of product updates and the addition of new trading instruments is not explicitly stated in the available information.

Retail Trading Services:

Royal Broker focuses on retail trading, providing individual traders with access to various markets and instruments.

4. Trading Platforms and Technology

Royal Broker utilizes a proprietary trading platform known as Digit Rader, alongside the widely recognized TradingView for charting solutions. However, there is no support for the popular MetaTrader 4 or 5 platforms, which are preferred by many traders for their advanced features and reliability.

Platform Features:

• Web Trading: Accessible through standard web browsers.
• Mobile Trading: Not specified whether iOS or Android applications are available.
• Execution Model: The broker's execution model is not clearly defined, raising concerns about transparency in trade execution.

Infrastructure:

The specifics regarding server locations and technological infrastructure are not detailed, which could impact trade execution speeds and overall performance.

API Access:

Information regarding API access for automated trading is not provided, limiting options for algorithmic traders.

5. Account Types and Trading Conditions

Royal Broker offers several account types, including a standard account with a minimum deposit requirement of $250. The trading conditions vary significantly across account types, with higher-tier accounts requiring larger deposits.

Standard Account Conditions:

• Minimum Deposit: $250
• Spreads: Starting from 44.2 pips for major currency pairs, which is notably high compared to industry standards.
• Commission: Not specified.

Advanced Account Types:

• VIP Account: Requires a minimum deposit of $5,000.
• ECN Account: Requires a minimum deposit of $10,000.

Leverage and Minimum Trade Sizes:

Royal Broker claims to offer leverage up to 1:1000, which is excessively high and poses significant risks to traders, especially those who are inexperienced. The minimum trade size is not clearly stated.

Overnight Fees:

Details regarding overnight fees (swap rates) are not provided, which could affect the overall cost of holding positions.

6. Fund Management

Royal Broker supports various deposit methods, primarily focusing on cryptocurrencies. The minimum deposit requirement varies by account type, with the standard account starting at $250.

Deposit Methods:

• Cryptocurrencies: Includes Bitcoin, Ethereum, and others.
• Credit/Debit Cards: Not specified.
• Bank Transfers: Available but details are unclear.

Deposit Processing Time:

The processing time for deposits is not explicitly mentioned, which can be a concern for traders looking for immediate access to their funds.

Withdrawal Methods and Fees:

Withdrawals can be made through various methods, but the fees associated with each method can be quite high. For example:

• Cryptocurrency Withdrawals: $5 plus a 0.5% commission.
• Bank Transfer: $10 fee.

Withdrawal Processing Time:

Royal Broker claims that withdrawal requests take up to 10 days to process, which is a lengthy duration compared to industry standards.

7. Customer Support and Educational Resources

Royal Broker offers customer support through multiple channels, including email and phone. However, the quality and responsiveness of customer service are not well-documented, raising concerns among users.

Support Channels:

• Email: Multiple addresses for various inquiries.
• Phone: Available for support, but no specific hours mentioned.
• Live Chat: Not specified.

Service Hours:

The specific hours of operation for customer support are not clearly stated, which can affect accessibility for clients in different time zones.

Multilingual Support:

The availability of multilingual support is not mentioned, potentially limiting assistance for non-English speaking clients.

Educational Resources:

Royal Broker does not provide extensive educational resources such as webinars or tutorials, which are essential for new traders looking to improve their skills.

Market Analysis Services:

The broker claims to offer market analysis and research reports, but the depth and frequency of these resources are not detailed.

8. Regional Coverage and Restrictions

Royal Broker primarily serves clients in various regions, including Europe and Asia. However, it is crucial to note that the broker may impose restrictions on clients from certain countries.

Main Service Markets:

• Europe: Significant presence due to regulatory claims.
• Asia: Particularly in countries with less stringent regulations.

Regional Offices:

• Belize: Main office.
• Cyprus: Additional operational office.

Countries Not Accepted:

The specific countries from which Royal Broker does not accept clients are not detailed, which could pose risks for potential investors.

Special Restrictions:

Due to its offshore status and lack of regulation, clients may face challenges in fund recovery and regulatory recourse.

In conclusion, while Royal Broker presents itself as a viable trading platform, the lack of regulatory oversight and transparency raises significant concerns for potential clients. It is essential for traders to conduct thorough research and consider the risks associated with trading through unregulated brokers.