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Is Royal Capital Trade a Scam?
Is Royal Capital Trade a Scam?
Royal Capital Trade is a binary options broker from Latvia and a company that has just entered the industry. However, they seem to be in this for the long run because they offer some pretty impressive features right from the start. Still, because they are a new broker, many people will need proof of their reliability before they sign up with them. That’s what we’re here for! Obviously, an opportunity to review a broke like this must be seized whenever it presents itself, so our team got to work and tested all aspects of the company’s website. Is Royal Capital Trade a scam? Read on and find out!
Is Royal Capital Trade a Scam? | Trading environment
The first thing we need to check is the broker’s trading platform in order to make sure your trading environment is safe and provides honest information. Right from the start, we have some good news because the software this platform is based on belongs to TechFinancials. Now, if you’re not a complete beginner in this business, you know that TechFinancials has been operating in this industry for years and that some of the most illustrious brokers use their products. More details about it can be found in our Royal Capital Trade Review 2020, but let us just say that this platform clearly shows why the software provider is so successful. Simply, it executes your trades immediately and makes sure you always have the latest data at your disposal. There are no bugs or glitches that could interfere with your trades’ expiration time and affect the outcome. All trading modes work perfectly and the intuitive design makes it very easy to find your way around here. In short, we never saw a single trace of any kind of Royal Capital Trade fraud while trading on this platform, so we can move this investigation on.
Is Royal Capital Trade a Scam? | Funding and withdrawing
If you’re wondering is Royal Capital Trade a scam, you most probably want to know will your money be safe and will you be able to manage it in accordance with your wishes. In a word –yes. Currently, bank transfers and Visa and MasterCard credit/debit card are available for deposits and Royal Capital Trade Withdrawal, so you have a pretty decent amount of options. All your financial and personal information will be protected with the latest SSL encryption system, meaning that only your account will be able to access all your data. Of course, just as with all other serious brokers, account verification is necessary in order for money transfers to go through. This is done by sending copies of your identification documents, proofs of residence and credit cards to the broker. We conducted a series of tests to check if all money transfers are reliable and never encountered anything that could point to a Royal Capital Trade scam. Our money always got where it had to arrive on time.
Is Royal Capital Trade a Scam? | The support crew
Another thing that can be of extreme importance in resolving any Royal Capital Trade problems that may appear (although we found none) is the company’s customer support. This is actually a pretty important thing to examine when making sure a broker is legit, since scammers usually don’t do well in this respect. Luckily, we discovered that the team here is always quick to respond and very knowledgeable. They can be contacted via several different phone numbers (UK, Canada and Australia) and via e-mail, but the most important thing is that they always get right to the point. These people will not waste any of your time and will not refer you to another team member unless that turns out to be absolutely necessary. They are there to help you however they can and make sure your trading experience with their company is a memorable one.
Is Royal Capital Trade a Scam? | Conclusion
As you can see, there is no reason to worry about this company’s legitimacy. After reviewing all of its features, we honestly believe Royal Capital Trade is not a scam. The platform is one of the best in the business, all money transfer methods work flawlessly and the support team is always there for you if you need help or advice. Although this broker is still new in the industry, people running it obviously know very well what they’re doing. The service they offer is of the highest level of quality, so if you what a serious business partner you don’t have to look anywhere else. Open an account with Royal Capital Trade now!
Royal Capital Pro broker review
Despite a wealth of knowledge and tips that are shared on the Internet, scammers continue to thrive. One would assume that scammers would have been rooted out, but instead the opposite is happening. The problem isn’t that there isn’t information about scam brokers, because there is a lot of that, but the difficulty in knowing where to look. As much as there is accurate information, so is false ones as you may know from the recent spate of fake news around the world. This Royal Capital Pro review examines some of the information being spread about the company and determines whether they can be trusted or not. It is essential to learn this stuff unless you want to become a victim of fraud.
Min. Deposit: $200
Trading Platform: MT4
US Clients: Not Available
Is Royal Capital Pro legit?
In order for you to determine whether a particular company is legitimate or not, you have to start from the foundation. In the case of a Forex broker, that is in learning about the company’s background. The basic information is provided on the website and you can get it from a simple Royal Capital Pro website review. Apparently, Media Zone Solutions LP is the actual company behind Royal Capital Pro, and it is there you need to focus. Media Zone Solutions LP is registered with the Companies House under company number SL025891. It is also based in Glasgow, Scotland, and has been in existence for two years.
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Unfortunately, there isn’t much more information about the company other than that, which is very troubling. A legitimate company should have no problem revealing the names of key officials and other company details, but Media Zone Solutions reveals none. This is typical of a shell company that doesn’t actually exist, but only by name. Indeed, after checking the authenticity of the phone number provided on their ‘Contact Us’ page, it got us nowhere. This gave more insight into the Royal Capital Pro scam, since there was no way of tracing this company’s origins or officials. They also have a LinkedIn page, but it was completely empty with not one post in the two years the company has existed.
For everyone asking, is Royal Capital Pro a scam? The majority of the signs point at this statement being true. This is the first step to knowing whether a broker can be trusted or not – by getting to the bottom of the company. Besides, they are not even regulated by the FCA. Being registered with the Companies House does not lend any credence to the legitimacy of a broker since it is very easy to do so. Only FCA regulation for companies operating within the UK guarantees that the company can be trusted.
Most of all, the FCA ensures that all the Forex brokers adhere to the rules, including those on capital requirements. Scam brokers prefer not to dedicate a lot of money into their schemes, so this step automatically weeds out most of the scammers. Apart from that, the FCA has policies that ensure defrauded clients can be refunded for their losses as they continue to investigate. Royal Capital Pro is not regulated, hence the reason why so many Royal Capital Pro reviews are complaints by former clients about their monies. The worst part is that there is nothing the FCA can do, after all, they routinely warn investors not to trust unregulated brokers.
So far, there hasn’t been any good thing to say about the company in this Royal Capital Pro review, and that is because there’s nothing to recommend about the whole operation. Had any of those previous clients done the same research into the company, they would have quickly known about the Royal Capital Pro scam and not lost their money. Fortunately, you now know and don’t have to suffer the same suffering they did.
Royal Capital Pro Review – is it scam or safe?
RECOMMENDED FOREX BROKERS
|Account type||Minimum deposit||Maximum leverage||Spread|
|Classic||$500||1:200||From 4.9 pips*|
|Silver||$2,500||1:200||From 4.9 pips*|
|Gold||$10,000||1:200||From 4.9 pips*|
*These are the spreads which we observed after opening an account with the company. They weren’t mentioned on the website and may be subject to change in the future.
Royal Capital Pro is a forex broker, which offers several account types. Islamic (swap-free) accounts are also available.
The Company. Security of Funds
|Media Zone Solutions LP||UK||N/A|
Royal Capital Pro is owned by Media Zone Solutions LP, which is based in Glasgow, Scotland. As the name suggests this is a marketing company, which may have a partnership with another broker. However this is not disclosed on the website. Furthermore they are not overseen by the Financial Conduct Authority (FCA) or any other regulatory agency. This is very troubling, as all unregulated companies carry a lot of risk.
To put it into perspective – when trading with an unregulated broker, you may not get your investment back (let alone your profits). In order to ensure the stability of client funds, most countries have dedicated agencies, like the aforementioned FCA, which is one of the most reputable ones. It has the authority to enforce rules upon the brokers, which it oversees. When it comes to the security of your funds, two of them stand out.
All FCA-regulated brokers must keep clients’ money in the so called segregated accounts. These are specific bank accounts, which can’t be freely accessed. This prevents scammers from simply accepting money and not offering any service in return. Additionally all FCA-regulated brokers participate in the Financial Services Compensation Scheme (FSCS). It protects clients against their broker declaring bankruptcy. If you trade with such a company and it happens do go insolvent, your account will be protected up to £ 50,000.
Minimum Initial Deposit
The entry level at Royal Capital Pro is $500, which is a bit high for the current environment. Most brokers, like FXPro require only $100, with some demanding even lower levels.
On the other hand this factor does not provide any information on the viability of a broker, when viewed separately. Financial regulation is, in our opinion, the most important aspect of a company’s credibility.
Average spreads & Commissions
The costs of trading at Royal Capital Pro are not disclosed on their website. That being the case, we tested their services, after opening an account. The trading platform revealed a EUR/USD spread which fluctuated between 4.9 and 5.0 pips. This level is astronomically high for the current environment, as most brokers offer something in the 1.0-1.5 pip range. You can always view the current offers, provided by some of the top-rated forex brokers on our special page.
The leverage at Royal Capital Pro is capped at 1:200. This is a level which will suit most trading systems. That being said, a lot of brokers nowadays provide 1:500 or even more.
This may lead to the false presumption, that higher leverage means better trading conditions. This is definitely not true, as the only thing a higher leverage ratio provides is the ability to risk more. This is definitely not recommended, especially for beginners.
Royal Capital Pro offers trading via MetaTrader4 (MT4). This is the most well-known forex trading program, which is utilized by many forex brokers. The platform offers a great charting solution, with lots of technical indicators being available. Furthermore custom solutions are available. This is the most unique feature of MT4 – the MQL marketplace, which features thousands of new custom tools for the platform, including technical indicators and automated trading systems (or Expert Advisors).
Furthermore the platform has a web version, as well as mobile apps (for Android and iOS). They replicate the functionality of the desktop version pretty well, with the app being one of the most advanced ones available.
Here is a screenshot of the platform provided by Royal Capital Pro:
Methods of Payment
The methods of payments offered by Royal Capital Pro are Credit Card and e-wallets such as Skrill, Neteller, WevMoney and CashU. Bank Transfers are not officially listed as an option, but they are probably also available.
Royal Capital Pro is an unregulated forex broker. This makes the company less than ideal, without looking at the other factors. On top of that trading conditions are very unfavorable, as the spreads are very wide, when compared to the competition. Here is a summary:
|MetaTrader4 available||Lack of regulation|
|Very wide spreads|
|No demo accounts available|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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