RoyalForex Review

RoyalForex.com briefly

Royal Forex Ltd is registered in Cyprus and holds a Cyprus Investment Firm (CIF) license. Under this CIF license, the company can offer reception and transmission of orders related to financial instruments. RoyalForex can also execute orders on behalf of customers. Royal Forex also provides its services through its authorized Roinvesting brands.

The company claims that most of its customers are people with large portfolios, family businesses, and the officers responsible for pension plans in professional offices and privately held companies. RoyalForex’s business strategy is to look for areas that are underestimated or off the radar, adding its innovative techniques to help customers get the results they want.

Regulation

When you choose a brokerage company, the regulatory compliance shows how reliable the company is. Royal Forex Ltd is registered in Cyprus with registration number HE 336694. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm (CIF) under license number 269/15.

Account Types

You can sign up for a free demo account funded with USD100,000 in virtual money. It is designed to be a risk-free exercise of your trading skills and strategies. It looks the same as the real account, using the same price quotes and lasts 365 days.

There are three types of real accounts that traders can open with ROInvesting and every trader can choose the best one for him – in terms of potential benefits and risk.

The Silver account is intended as a start point. You can trade more than 350 assets and receive 24/5 customer support, spreads for major currency pairs starting from 0.7 pips, maximum leverage of 1:30 and access to an educational center with webinars and videos.

The Gold account is designed for more experienced traders. You can place orders on more than 350 assets and receive 24/7 customer support, spreads starting from 0.5 pips, commission free deposits and withdrawals, and 25% swap discount.

The Platinum account fits the needs of the most experienced traders who are on their way to pro status. The spreads here start from 0.3 pips and the swap discount is 50%.

The minimum deposit amount USD250 or the relevant currency equivalent.

Keep in mind that all profits and loss here are real.

What Type of Broker the Company Is

In the Order Execution Policy document, it is written that the company does not act as the client’s execution venue. Therefore, the company does not execute client orders on an own account basis as a principal. Royal Forex transmits the client orders or arranges for their execution with a third party. The company does not execute clients’ transactions on a trading venue, instead it uses other regulated investment firms which act as the execution venues. This means that the company uses the Straight Through Processing (STP) model to execute client orders and there is no conflict of interest such as with market makers.

We also found that the company provides its retail clients with negative balance protection, which limits the maximum losses a customer could have. Clients can never lose more than the total sum invested for trading.

It is noted that under certain trading conditions it may be impossible to execute pending orders at the requested price. In this case, the company has the right to execute the order at the first available price. This may occur, for example, at times of rapid price fluctuations of the price. This means that the stop loss orders are not guaranteed.

There is a warning that at the time that an order is presented for execution, the requested price may not be available; therefore, the order will be executed close or a number of pips away from the requested price. This phenomenon represents the existence of slippage, which is the normal market practice, the company says.

Fees

There are several types of fees described in the Terms and Condition file such as overnight swaps and currency conversion rates fee. In addition, there is an inactivity fee and if there is no activity in your account for more than 60 calendar days, a monthly inactivity fee will be applied. It starts from EUR160 and reaches EUR500. There also is a withdrawal fee of EUR50 if there is only one position placed or no trading activity in the client’s account prior to the submission of the withdrawal request. In case the client wants to withdraw less than EUR100, additional fees may apply.

Deposits and Withdrawals

Royal Forex warns that time taken for the funds to appear on the relevant account depends on the method used for transferring such funds. The company usually processes deposits and withdrawals within the one business day. Once the client’s withdrawal request is approved, it will be processed and sent for execution to the same bank, credit card or other source from which the funds were debited. Clients can use several deposit methods such as bank transfers, credit/debit cards, Neteller, Skrill, SafeCharge, Decta, Payvision, emerchantpay, Trustly, PayPal etc.

Trading Platforms

Customers can trade via one of the most popular terminals worldwide – MetaTrader 4 (MT4). In addition to the desktop version, it is available as a web version and as a mobile platform.  MT 4 is a revolutionary platform used by millions of traders that delivers the most effective execution of trading orders. Once you have logged in, you can enjoy price dynamics in detail, opening and closing trades, setting stops and entry limits, doing technical analysis and many other advantages that help you become a successful trader.

Assets

Forex – Over 40 popular major, minor, and exotic currency pairs can be traded without any commission.

Indices – You can trade 20 of most popular major and minor indices globally, such as DJIA, DAX, ASX200 etc. Trading is commission free.

Commodities – Over 20 of the most traded commodities are available such as Gold, Oil, Platinum, Silver etc. You can trade them commission free.

Shares – You can trade various shares from the US and European markets such as Apple, Google, Siemens, Xiaomi etc. Trading is commission free.

Cryptocurrencies – You can enjoy commission free trading of Bitcoin, Dashcoin, Ethereum etc.

Education

There is a dedicated section on the web page called Education, which contains plenty of stuff such as articles, videos, webinars, eBooks, tutorials, economic calendar etc.

Partnership

ROinvesting is the official CFD partner of AC Milan. It also offers an affiliate program and promises USD800 per introduced trader.

Summary

ROinvesting – the trading name of Royal Forex has a CySEC regulation and must comply with its strict rules. It is a pure STP broker, which transmits each customer order to its liquidity providers.  You can trade a wide range of trading instruments including cryptocurrencies via the most popular trading terminal MT4. The minimum deposit amount is USD250 and deposits and withdrawals are processed within one business day. Be careful – there are some additional fees.