TheRoyalFX Broker Review: Pros and Cons

TheRoyalFX or Royal Exchange has a solid website up to date with ongoing events. Using the fear of the Covid-19 pandemic, this broker invites people to invest in a trustworthy company. However, once you read our TheRoyalFX review, you’ll understand why this company is not the one you should ever invest your funds in.

TheRoyalFX Regulations and Security

TheRoyalFX is a brand of Trd Group Ltd, allegedly based in Saint Vincent and the Grenadines. We have two issues here. The first is that the company doesn’t exist in any of the registers. Other than that, this offshore country has no financial regulator, so even if the company was legit, it couldn’t be regulated by the FSA as this authority body acts as a financial register and directs brokers to opt for the regulation in the country of service.

We’ve double-checked FCA, ASIC, BaFin, and a few other Tier1 regulators just in case but found no sign of TheRoyalFX regulation.

Fund Withdrawal Issues With TheRoyalFX

Since the company is not officially registered nor regulated, it feels free enough to scam clients. That’s why most of them have reported withdrawal issues. Once you want to invest, everything will be tremendous.

However, if you were not suspicious when you were prompted for the initial deposit of $2,500, you will definitely notice that something doesn’t add up once you cannot withdraw your funds.If you insist too much, you’re risking being suspended and never reaccessing your trading account.

Beware of TheRoyalFX scam and avoid it by all means. Also remember the names of the ABSystem, InvestAgrico and Profit Markets CFD trading scams and avoid them at all costs!

Moreover, always check the background of online trading companies before investing!

Traders About TheRoyalFX Scam

Checking TheRoyalFX reviews gave us a little insight into how traders feel about the brokerage. As you can imagine, most of them are devastated by being unable to withdraw their funds. Those who were too persistent could no longer access their trading accounts, making the situation even harder.

So if you experience something similar, let us know immediately.

The reviews show that the broker targets mainly Belgium and Guernsey, but you’re not safe anywhere.

How Does Online Trading Scam Work?

Online trading scams are something we’re facing every day. With numerous new companies opening their offices offshore, security is lower each day. That’s why it’s recommended to invest only in long-existing brokerages with a proven history of positive behavior. 

If, however, you come across a scam such as TheRoyalFX, you should report it immediately. It will all start with an overpromising trading ad, through an overpromising account manager, just to end once you decline to invest more funds and ask for a payout. 

Beware of the bonus scheme, proprietary Web trader, and robotic trading system – this is a holy trio of fraudulent firms.

In addition, we strongly advise you not to invest in EuroFX, LTMTrade and Smart Trade Group fraudulent brokers.

Scammed by TheRoyalFX? – Tell Us Your Story

If you were scammed by TheRoyalFX or any similar bogus brokerage, let us know. Our experts will help you file a dispute and request a chargeback.

But What Is A Chargeback?

The chargeback is a way for your bank to reverse a fraudulent transaction and get money back from the merchant if you can prove that you were scammed. Contact our support via online chat to book a free consultation and get more details about the process. Don’t let scammers run with your hard-earned money!