The case of RoyalFXmarkets ( Forex Broker is the case of an unlicensed broker; brokers like these tend to over promise on things they can’t actually provide. These promises are always evident in the structure of their account types, leverage, withdrawal/deposit methods and most importantly, their licensing. This RoyalFXMarkets Review tries to shed more light on these promises; read it to see what we think about RoyalFXmarkets.


RoyalFXmarkets Trading Platform

We start by looking at the trading platform that RoyalFXmarkets forex offers. The best case we can hope for in this section is that RoyalFXmarkets uses the Meta trader 4 and 5 when it comes to its trading platform. With this in mind we would like to state that the legitimacy of RoyalFXmarkets forex broker isn’t solely based on the type of trading platform it supports, but goes a long way in showing us the character of the broker.

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RoyalFXmarkets forex broker doesn’t give any information on the platform it  uses to offer its clients access to the market. RoyalFXmarkets forex broker does not offer information on leverage.

A High leverage can be a double-edged sword in the sense that a trader on a good trade can make a huge profit but also an enormous loss if the reverse becomes the case. Various regulatory bodies have put a cap on leverages for brokers; a limit that most unregulated brokers disregard. We do advise restraint if you ever come upon a broker with a leverage exceeding 1:30, especially if you are new to the market.

RoyalFXmarkets Account Types

In this portion of the review, we aim to explore the account types a broker might possess. Here, we check the account with its corresponding deposit and leverage. Doing this gives a clearer idea of how a broker might operate.

RoyalFXmarkets trades in forex, bonds, indices, ETF, commodities and stocks

After checking, we discovered that RoyalFXmarkets broker has 4 account types.

Royalfx 1

Different brokers have different account types; most legitimate brokers start their entry accounts at $250, which is the acceptable minimum deposit the industry normalized. We reiterate that this is still not a yardstick to measure the legitimacy or competency of a broker.

RoyalFXmarkets Deposit and Withdrawal Methods

Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.

RoyalFXmarkets forex brokers has QIWI Wallet, WebMoney, credit card and Yandex as method of funding account.

One thing to keep in mind is that a broker might have withdrawal conditions concerning accounts; most fraudulent brokers stipulate a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.

Is RoyalFXmarkets Licensed?

Licensing is another important part of our review because we can trust a regulated broker to some extent not to do anything fraudulent. We complete this part of the review by first checking the name of the company attached to the broker and then run that name through various regulatory bodies to discover if it regulates said brokerage.

In checking the license status of this broker, we had to check the regulatory body RoyalFXmarkets broker is meant to be under. To know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy. This list of regulatory bodies is not exhaustive by any means.

To see more of our reviews, take a look at dotfx review, marketscg review, hitoptions review.

RoyalFXmarkets broker is not licensed.

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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage


Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage


Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage

WordPress Pricing Table Plugin


In conclusion, we wouldn’t recommend you to trade with RoyalFXmarkets, they do not impress us with the vague information they have provided. They don’t give any valid information concerning if they are a regulated broker, and we could not find any evidence supporting its stance on legitimacy.

Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.

By admin

One thought on “RoyalFX Markets Review: ( Scam or Legit? Read to find out what experts say”
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