Royal Noble Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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The minimum deposit amount is too high, the spread is very wide, and the leverage is very low, which is more suitable for people with a little experience and spare money, but not suitable for us newbies. Who would want to put so much money in the hands of an unregulated broker without any security? At least I'll never be able to do that.
In the complex world of forex trading, choosing the right broker is crucial. This review of Royal Noble Group highlights significant concerns surrounding its legitimacy and reliability based on various sources. The broker appears to lack proper regulation, raising red flags for potential investors. Notably, its anonymous operation and claims of high returns should be approached with caution.
Notice: The discrepancies in the information regarding Royal Noble's operations and regulatory status highlight the need for thorough research. Always verify the legitimacy of brokers, especially those operating across different jurisdictions.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Score (Fees) | 2 |
How We Score Brokers: Ratings are derived from a comprehensive analysis of user experiences, expert opinions, and factual data regarding the broker's offerings.
Founded in 2020, Royal Noble Group is presented as a forex and CFD broker, focusing heavily on cryptocurrency trading. However, it operates from an undisclosed location and lacks the necessary regulatory oversight, which raises significant concerns about its trustworthiness. The broker employs a web-based trading platform rather than established software like MetaTrader 4 or 5, which is typically preferred by serious traders. Available asset classes include forex, commodities, indices, and a wide variety of cryptocurrencies.
Royal Noble Group claims to operate from the Commonwealth of Dominica, a location known for its lenient regulatory environment. However, it does not hold any valid licenses from recognized financial authorities, making it a high-risk option for traders. This lack of regulation is a significant red flag, as it exposes clients to potential fraud.
While the broker accepts various payment methods, including credit/debit cards and bank wire transfers, the lack of transparency regarding withdrawal policies is alarming. Reports suggest that users have encountered difficulties when attempting to withdraw their funds, with claims of excessive fees and delays.
The minimum deposit requirement for opening an account with Royal Noble Group is set at €250. While this amount is relatively low compared to other brokers, the risks associated with investing in an unregulated broker far outweigh the benefits.
Royal Noble Group does not appear to offer any significant bonuses or promotions, which is often a tactic used by fraudulent brokers to lure in unsuspecting clients. The absence of such incentives may indicate a lack of confidence in their services.
The broker claims to provide access to a wide range of trading instruments, including forex, commodities, indices, and over 600 cryptocurrencies. However, the actual trading conditions, such as spreads and commissions, are not clearly defined, leading to further skepticism about their offerings.
Spreads at Royal Noble Group reportedly start from 2.4 pips, which is not competitive compared to other brokers. Additionally, commissions for trading cryptocurrencies can be as high as 5%, significantly increasing the cost of trading. This high cost is coupled with vague withdrawal policies, which may include hidden fees.
The broker offers leverage up to 1:100, which is higher than what is permitted in many jurisdictions for retail traders. This high leverage can lead to significant losses, especially when trading with an unregulated broker like Royal Noble Group.
Royal Noble Group utilizes a proprietary web-based trading platform, which lacks the advanced features of established platforms like MetaTrader. This limitation can hinder traders' ability to perform in-depth analyses and execute trades efficiently.
Due to its unregulated status, Royal Noble Group is likely to be operating illegally in many regions, particularly in the UK and EU. Traders should be cautious and consider the legal implications of trading with such a broker.
Customer service options appear limited, with reports indicating poor support and responsiveness. Traders have expressed frustration over delayed responses and inadequate assistance, further emphasizing the risks associated with this broker.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Score (Fees) | 2 |
In conclusion, the Royal Noble review reveals a broker that operates with significant risks and red flags. Potential investors should exercise extreme caution and consider alternative, regulated brokers to safeguard their investments.
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