Is Royaltd24 a scam or legit broker?
No, it is not safe to trade with Royaltd24, as it is an offshore company. Royaltd24 as the Company, operated by RL Ltd., Marshall Islands.
The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, GoldenSkyCapital and more. As we already know, offshore registration usually doesn’t guarantee the safety of funds and clients’ protection, especially in the Marshall Islands, where the local authority doesn’t regulate forex businesses.
|🗺️ Registered in
|🗺️ Type of License
|🛡️ Is Royaltd24 safe to trade
|🗺️ Recommended Licenses
||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
|🖥 Alternative Broker
||IC Markets - licensed by ASIC in Australia
Royaltd24 claims to have been founded in 2011 by a group of economists in the global financial markets. Royaltd24 offers its investors trading with Forex and CFDS and a leverage of up to 1: 200. The clients can trade with fixed and variable spreads (Also read about zero spread forex brokers here), which are among the lowest in the industry, starting from just 0.1 on ECN accounts (Find ECN Trading Platform for you) and 0.5 on Standard accounts.
Moreover, Royaltd24 has been blacklisted by the Italian regulator CONSOB:
“CONSOB availed itself of the powers deriving from the “growth decree” regarding the blackout of the sites (including RL Ltd (website www.royaltd24.net) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”
The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As Royaltd24 got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
We strongly advise all investors and traders to avoid Royaltd24 and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.
You can also share your trading experience with Royaltd24 by commenting on this review.
Royaltd24 website is no longer active.