CFD Royal Review
Reason to avoid: No license
Listed Date: June 12, 2018
Top 3 Regulated Forex Brokers
Beware CFD Royal is a Non-Regulated broker. It is NOT SAFE to trade.
Is CFD Royal a scam or legit broker?
No, it is not safe to trade with CFD Royal. CFD Royal is owned and operated by Elit Property Vision LTD with the registered address in Sofia, Bulgaria. However, the broker is not authorized or regulated by the Financial Supervision Commission in Bulgaria or any other regulator.
Forex and CFD brokers are required to have a license by the local financial authorities in order to offer and provide financial services. CFD Royal doesn’t carry such license, so it cannot be considered as a reliable broker to invest with.
As we kept our search about CFD Royal, we have found a few shady things that definitely should be mentioned. The owner company Elit Property Vision LTD also owns other brokerages, such as previously reviewed CarterFS and RichmondFG. These companies have been blacklisted multiple times by different regulators, and this fact definitely doesn’t put a lot of trust to CFD Royal.
Another thing is that CFD Royal has previously been owned by United Limited, an offshore company based in the 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. And the last reason, why traders should avoid CFD Royal is that the company has been banned by the UK’s Financial Conduct Authority:
“This firm (CFD Royal) is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.”
We advise all investors and traders to avoid CFD Royal and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Plus500 and XM.com.