Is RoyalCFDs a scam or a legit broker?

ROYALCFDS is 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 any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

About RoyalCFDs
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is RoyalCFDs safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

ROYALCFDS is a Forex and CFDs broker. The company is the trade name operated by DIGITAL WORLDWIDE OU, registered in Tallin 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 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 with 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.”

Conclusion

All the 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 with reliable regulator 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 the FCA-regulated brokers here.

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