Royal Forex Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
CYSEC Revoked 
It's really strange that the company Royal Forex has been established for more than five years and has a regulatory license from CYSEC, but now their website can't be opened. Has this company changed their website address?
Royal Forex has garnered varying opinions in the trading community, with some users praising its fast execution and customer service, while others express concerns about its regulatory status and withdrawal processes. This review synthesizes insights from multiple sources to provide a comprehensive overview of Royal Forex, highlighting key features, advantages, and drawbacks.
Note: It's essential to recognize that Royal Forex operates through different entities across various regions, which may affect the trading experience and regulatory protections available to users.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service & Support | 6 |
| Trading Setup | 7 |
| Trustworthiness | 5 |
| User Experience | 6 |
We evaluate brokers based on user feedback, expert opinions, and factual data.
Established in 2008, Royal Forex is a multi-regulated broker with a strong presence in the forex trading market. It operates under various licenses, including those from the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Lebanese Capital Markets Authority (CMA). The broker primarily offers trading on the MetaTrader 4 platform, which is favored for its user-friendly interface and extensive analytical tools. Traders can access a diverse range of assets, including forex, commodities, and CFDs.
Royal Forex is regulated in several jurisdictions, including Australia, Cyprus, and Lebanon. However, the regulatory environment varies significantly across these regions, with ASIC being one of the more reputable regulators. This multi-jurisdictional structure can lead to inconsistencies in user experience, particularly regarding the security of funds and trading conditions.
Users can deposit and withdraw funds via bank transfers and credit/debit cards. However, popular e-wallet options like Skrill and Neteller are not supported, which may limit convenience for some traders. The minimum deposit requirement is relatively low, starting at $50 for a standard account, making it accessible for new traders.
Royal Forex offers various promotional incentives, including referral bonuses and trading volume discounts. However, the specifics of these promotions can vary and may not always be clearly communicated to users.
Traders can access a range of financial instruments, including over 30 currency pairs, precious metals, and CFDs on indices and commodities. However, it is noted that there are limitations in terms of stock and cryptocurrency trading, which may deter some traders looking for a more comprehensive trading portfolio.
Royal Forex offers competitive spreads, starting from 0.7 pips on ECN accounts and around 1.8 pips on standard accounts. While there are no commission fees on standard accounts, traders opting for ECN accounts may incur commissions ranging from $2 to $5 per trade. These costs are generally considered reasonable, but users should be aware of potential additional fees for withdrawals.
The broker offers a maximum leverage of 1:400, which is attractive for experienced traders looking to maximize their trading positions. However, it is essential to note that high leverage can also amplify risks, and traders should exercise caution.
Royal Forex primarily utilizes the MetaTrader 4 platform, a widely recognized trading platform known for its robust features and reliability. Additionally, the broker provides its proprietary trading platform, which may appeal to traders seeking unique functionalities.
While Royal Forex serves a global clientele, certain regions may face restrictions due to regulatory compliance. It is advisable for potential users to verify whether their country of residence is eligible to open an account with the broker.
Royal Forex offers customer support in multiple languages, including English, Arabic, Spanish, and Chinese. Although users have reported generally positive experiences with customer service, some have raised concerns about response times and the overall effectiveness of support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service & Support | 6 |
| Trading Setup | 7 |
| Trustworthiness | 5 |
| User Experience | 6 |
Royal Forex provides a variety of account types, including standard and ECN accounts. The minimum deposit is relatively low at $50, making it accessible for new traders. However, some users have expressed concerns about the lengthy account verification process.
The broker offers a range of trading tools, including the MetaTrader 4 platform, which is equipped with various technical analysis tools and indicators. However, some reviews indicate that educational resources could be enhanced to better support novice traders.
While many users report positive experiences with customer support, there are mentions of slow response times during peak periods. The availability of support in multiple languages is a plus, but the overall effectiveness of the service could be improved.
Royal Forex offers a user-friendly trading environment with the MT4 platform. The execution speed is generally praised, though some users have reported issues with withdrawal delays, which could impact overall trading experience.
The regulatory status of Royal Forex is a mixed bag. While it is regulated by reputable authorities like ASIC and CySEC, concerns remain about its operations in less regulated regions. User reviews indicate a lack of transparency in certain areas, which could affect trust levels among potential clients.
Overall, the user experience appears to be satisfactory for many traders, particularly those who prioritize fast execution and a variety of trading instruments. However, the absence of popular deposit methods and some limitations on asset classes could detract from the experience for others.
In conclusion, the Royal Forex review presents a broker with both strengths and weaknesses. While it offers competitive trading conditions and a user-friendly platform, potential clients should weigh the regulatory landscape and user feedback carefully before making a decision.
