RoyalStern Review – Fake European Brokerage Exposed
As can be seen, RoyalStern company claims to be registered in two places. Firstly, they mention the United Kingdom under the Wiz Corporation. The second country where they have an address is Switzerland.
Generally, this sounds quite promising to inexperienced traders. But let’s look deeper into these details and discover in this RoyalStern review if we can trust this firm or not.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Registered In:||UK / Switzerland (allegedly)|
|Trading Platforms:||Proprietary auto-trading software|
|Trading Assets:||Forex, Commodities, Shares, Indices, Crypto|
|Free Demo Account:||Not Available|
|How To Withdraw From This Company?||With too many shady allegations and suspicious trading conditions, withdrawals become questionable as well. If you experience any problems, feel free to contact our chargeback team for advice.|
Legal Info: Is RoyalStern Legit Or A Scam?
When you see a company claiming to be registered in the UK, everything is easier. You just have to check the FCA database and see if they are legit. In fact, RoyalStern company is not. Neither are they listed in the FINMA (Switzerland) register. Also, the company claims to have been in the business since 2005. Yet, who.is research shows their domain was registered in September 2023.
Not only that, they don’t even have any other Tier 1 regulations like CFTC, ASIC, or BaFin. Therefore, all their statements become highly suspicious. Moreover, traders can’t expect any funds protection measures, such as compensation schemes, segregated bank accounts, or negative balance protection.
Who Are RoyalStern’s Clients?
Even though the RoyalStern reviews don’t exist, we can see some patterns already. In the first place, the name of the company points out they intend to target German speakers. In fact, their website is primarily designed in German.
The research also confirms that since website visitors (victims) mainly come from:
This could tell you as well where they are originally from. In any case, without transparent legal information, it’s hard to prove their origins. If you are having issues with this brokerage, feel free to share it with us. Ultimately, our refund team can advise you about getting your money back.
Leverage, Commissions, Spreads, Fees and Taxes
Another important scam sign is the leverage this company is offering. For some accounts, it goes up to 1:300. Bear in mind that UK firms can offer only 1:30 leverage to retail traders. The situation is the same with FINMA-regulated companies.
As for the other trading costs, none of those are revealed. That’s exactly one of the ways the RoyalStern scam is performed. Anyway, the only thing known about fees is that you get a discount if you deposit more money. Thus, a discount doesn’t matter if you can’t withdraw any funds.
In general, bonuses are not transparently presented with the RoyalStern broker. But without transparent T&Cs, you will never know if they offer some.
Keep in mind bonuses often prevent traders from withdrawing any funds. To understand how to avoid these and some other tricks, check our SmartyTrade review as well.
RoyalStern Trading Features
Traders must understand that RoyalStern broker offers only fictive features. Everything is designed just to extort more money from clients. For instance, they will offer you huge fee discounts, personal assistants, trading specialists, social trading, and much more.
However, the only thing true there is the fake trading specialists who are doing anything in their power to get more money from you.
Trading Software Available
In addition to all of the irregularities mentioned, the company doesn’t reveal what software they are using. That’s already a sign to run away from them.
Generally, we often recommend traders look for cTrader or MetaTrader. But of course, with a licensed firm. Otherwise, such platforms become useless.
Available Trading Assets
Even if the company offers all the possible assets, it’s irrelevant if they are not regulated. Bear that in mind. In any case, this brokerage claims to offer:
- Forex – GBP/EUR, AUD/NZD, USD/JPY
- Commodities – Cotton, crude oil, palladium
- Shares – Walt Disney, American Express, Amazon
- Cryptos – BTC, ETH, DOT
- Indices – S&P 500, ASX 200, CAC 40
With an insanely high minimum deposit requirement of $1.000, you can already see a reason not to trust them. Especially knowing that some Tier 1 licensed brokers require only $10 to get started. Anyway, the options are:
- Bronze – $1.000
- Silver – $25.000
- Gold – $50.000
- Platinum – $100.000
- Diamond – $250.000
- Premium – $500.000
- VIP – $1.000.000
Mobile Trading App
Can you imagine that the company requiring traders to deposit $1M doesn’t have a mobile app? Yes, that’s the reality with RoyalStern scam brokerage.
All iOS and Android users have to access their accounts through the browser. Luckily, our Vault Markets review can show you the importance of trusted mobile trading apps.
Another key disadvantage is the lack of a demo account. But in general, that doesn’t surprise us since they are hiding so many things. After all, we already understand they want to be anonymous and protected.
Generally, education with unregulated firms can only harm you. Very rarely will you see something useful and reliable with such companies.
To make everything even worse, this company only offers blog posts and general articles about trading. Apparently, some webinars are included in some account types. Yet, we wouldn’t trust it much.
One of the most disturbing things with this company is how to get your money out. Without T&Cs, you can’t find any withdrawal policy. Neither do they mention what the payment methods are.
Therefore, you can expect the promotion of anonymous and irreversible crypto payments. Thus, if you don’t know the withdrawal procedure, fees, and methods, you shouldn’t deposit at all.
With everything mentioned above in this RoyalStern review, their poor contact options are a cherry on top. Instead of trusted features like phone, live chat, or Skype, they only have a web contact form. Of course, without any working hours revealed.
So, if you are looking for answers regarding withdrawals, you can forget about reply.
Key Information To Consider About RoyalStern?
Literally, there’s not even a single thing that should attract anyone to this scam broker. Hopefully, our RoyalStern review helps you realize that. Firstly, they are misleading traders about the registration country and registration date. Secondly, they are not regulated by any trusted authority. Lastly and most importantly, all of their features are highly suspicious.
Therefore, if you experience any issues, contact your domestic regulator immediately. Let them publish a warning and stop these swindlers in their malicious actions. But for refund options, we suggest you talk to our chargeback specialists. The first meeting is free, and you don’t have any obligations. So, what to wait? Get in touch now.
What is RoyalStern?
RoyalStern is an unregulated scam brokerage offering FX and CFD trading services since September 2023.
Where is RoyalStern Mainly Active?
Based on the web design you can assume they are targeting German speakers. But research shows that besides Germany, they are also targeting Lithuania.
Can I Recover Money Stolen in an Online Trading Scam?
Definitely. You can apply for a chargeback for card transfers or use alternative methods for other payment options. For detailed advice, contact our refund team.