Royal Oak Investment Review – The Truth Behind Royaloakinvestment.com
This is one of those dangerous cases. Especially due to the appealing website with neat visual design.
Nevertheless, you should refrain from investing in this shady offshore brokerage because of several alarming facts. In the Royal Oak Investment Review, we plan to outline them, so keep reading!
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CSA, FI|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes – ETH, DSH, BTC…|
|Types of Assets:||Forex, Crypto, Indices, Shares, Commodities|
|Free Demo Account:||Unavailable|
|Accepts US clients:||No|
Is Royal Oak Investment An Anonymous Scam Brokerage?
Basically, yes. Royal Oak Investment, an anonymous broker, is actually based in Saint Vincent and the Grenadines (SVG), an island infamous for being a scammers’ nest.
The laws over there aren’t strict at all. Moreover, SVG-based brokers don’t have a Forex license since the local Financial Services Authority (FSA) doesn’t regulate that market.
If Royal Oak Investment had invested as much effort in obtaining a valid license as it did on its website, the broker might have been worth your while. In this case, you shouldn’t invest.
Royal Oak Investment is a shady SVG broker that lacks transparency. The cyber fraudster claims to offer Forex, CFD and crypto trading and plans to defraud traders from the US, UK, Canada, Sweden and Germany.
Arguments For Trading With a Licensed Broker
Offshore brokers are known to lie about promising clients benefits that come with regulations such as segregation of funds, negative balance protection and indemnification.
Furthermore, they have no leverage restriction in place, which makes trading more dangerous. They also aren’t required to have significant operating capital. It’s best you stick with brokers that are licensed by the likes of the FCA, ASIC, CySEC, FINMA, etc.
Warnings From Financial Regulators
Given that Royal Oak Investment is unlicensed, the next logical step was to check for warnings against the broker. And, we found them.
Analysis of Customer Reviews of Royal Oak Investment
We decided to check what traders had to say about Royal Oak Investment. Thus, we searched Trustpilot for the broker and found 25 reviews and an average score of 2.1 (poor).
On the website, we found numerous complaints about this cyber scammer. The general impression is negative. Here’s what one unfortunate victim of this scheme had to say:
I was with them for 3 month and after that I cannot acces the platform anymore since one week. I lost 20K CAD. IT’s just about manipulation to make you invest as much as possible then they disappear…– Trustpilot user, January 21, 2023.
Overview of Royal Oak Investment’s Trading Platform
There’s no demo account and the only site link to the trading platform is broken. So, we were unable to see the platform for ourselves but Royal Oak Investment was kind enough to elaborate in the FAQ section.
The shady broker says it offers a web-based platform, i. e. WebTrader. This platform is good only for beginners but it won’t cut it for those with some experience. WebTrader only offers basic charts and indicators. Advanced features are missing.
iPhone and Android Trading Apps
Since the platform is accessed via a browser, you can use it on your mobile phone. However, we wouldn’t recommend it. Firstly, because the broker is unlicensed so your funds aren’t secure.
Secondly, nobody guarantees you’ll actually get to trade. The platform could be manipulated to show fake profits as well.
What Financial Instruments Does Royal Oak Investment Include?
According to Royal Oak Investment’s website, the broker offers the following trading assets:
- Forex pairs – EUR/USD, CHF/NZD, JPY/CAD…
- Indices – IBEX35, FTSE100, NASDAQ100…
- Commodities – gold, crude oil, wheat…
- Stocks – Apple, Audi, Netflix…
- Crypto – BNB, LTC, DSH…
It’s quite a list. Yet, we aren’t sure it’s all available since there’s no demo account. Instruments should be the least of your worries. A license and an effective trading platform & conditions come first.
Areas Of Royal Oak Investment’s Scam
We did our research and found that this con artist implements its scheme in the following countries:
On similarweb.com, we found that the scammer’s website was visited the most in November & December 2022 – 56,300 and 48,000 visits.
Fortunately, two of the regulators from the list have reacted and issued warnings. We hope the rest do the same.
Royal Oak Investment And The Types Of Accounts Offered
Royal Oak Investment offers a total of five different account types on its website:
- Trial – 250 $;
- First-time Investor – 10,000 $;
- Build Your Future – 50,000 $;
- Build Your Monthly Account – 100,000 $;
- Royal Oak Heritage – 250,000 $.
Quite pricy, we must add. As for the leverage, it ranges from 1:100 to 1:400, which is north of the legal limit in the UK & EU (1:30) or US & Canada (1:50). Such high a level is the harbinger of great losses. Spreads are unbearably wide – 6.5 pips for EUR/USD.
There’s also a VIP account with special benefits that come at huge prices. What we didn’t find was a demo account, which is a red flag in our eyes.
Royal Oak Investment’s Trading Bonuses
Do you want to know why bonuses are always a bad sign? It’s because scammers attach shady clauses to them to prevent traders from withdrawing funds.
Check it out. You’ll notice the insane trading volume required for withdrawals and it will be clear to you why top regulators have prohibited brokers from issuing bonuses.
Royal Oak Investment’s Deposit and Withdrawal Policies
The minimum deposit is 250 $, which is nothing unusual. However, we wouldn’t risk it. As for the funding methods, Royal Oak Investment listed the following:
- Credit/debit cards;
- Wire transfers;
This broker didn’t specify which e-wallets it deals with. The withdrawal fee is 1% but we doubt the scammer will allow traders to pull funds.
Royal Oak Investment’s Terms and Conditions
The broker’s T&C section is basically a description of some trading conditions. At the very end, we found the above-mentioned governing law paragraph relating to SVG.
It’s fairly obvious to us that this whole document was probably copied from somewhere. Scammers do it all the time.
Royal Oak Investment Broker Scammed You? – Please Tell Us Your Story
We could use all the info available to pressure more regulators to react to this cyber threat. Your help would be great. Tell us your story so we can help you get your money back.
Depending on the funding method, there are several ways of getting a refund. We’ll explain briefly but if you need more info, don’t hesitate to call us and start the chargeback procedure!
What Is the Chargeback Procedure?
- Credit/debit card transactions can be reversed via chargeback. You can request it at the issuing bank within 540 days.
- Wire transfer can be reversed via recall but only if the transaction isn’t complete.
- Crypto transactions must first be traced to a wallet within a crypto exchange. Afterwards, you can request a refund.
- If you’ve paid via e-wallet, you’ll have to contact the issuing company.
Here you can book a free consultation and find out what to do for a start.
What Is Royal Oak Investment?
It’s a shady offshore provider based in SVG that offers Forex, CFD and crypto trading.
Is Royal Oak Investment a Scam Broker?
Yes. The broker is unlicensed. Also, there are two warnings issued against it.
Is Royal Oak Investment Available in the United States or the UK?
Royal Oak Investment is available to traders from the UK but not to those from the US.
Does Royal Oak Investment Offer a Demo Account?
No. There’s no demo account available on the scammer’s website.