RoyalCFDs Review

Is RoyalCFDs Scam or Legit Broker?

ROYALCFDS is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade ROYALCFDS.

• We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is ROYALCFDS?

ROYALCFDS is a Forex and CFDs broker. The company is the trade name operated by DIGITAL WORLDWIDE OU, registered in Tallinn city, Estonia. They also mention Digital Enterprise Ltd., another company owner that is based in the Marshall Islands. There may be confusion between the registered firm and the regulated one. A broker can be registered in a particular country, but if it's not regulated/overseen by countries responsible finance authority then it doesn't have any legal rights to provide its services to the residents of that country.

• In the case of RoyalCFDs, the company is not regulated in any of the countries and it has even been blacklisted by the UK's Financial Conduct Authority. The warning states:

"We believe this firm has been providing financial services or products in the UK without our authorization."

ROYALCFDS Review Conclusion

All traders are advised to avoid unregulated/offshore brokers as there is a huge risk of losing money with such firms. Instead, choose those that are regulated by reliable regulatory agencies. For instance, if an FCA-regulated broker goes bankrupt, its clients are covered by the Financial Services Compensation Scheme (FSCS). The traders are entitled to receive up £50,000 in total. Check the list of FCA-regulated brokers here. We advise trading with well-regulated brokers such as BDSwiss and XM.

ROYALCFDS Update

Our research showed that the ROYALCFDS website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.