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Updated on February 13, 2024

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Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding RoyalCFDs due to the issues we've identified.


Is RoyalCFDs Scam or Legit Broker? ▲

Upon conducting an extensive review, we have come to the conclusion that RoyalCFDs is unequivocally a fraudulent entity. The brokerage is incorporated in an offshore region and lacks a reputable financial regulatory license, rendering it an unsafe choice for trading activities. Our stance is firm in discouraging engagement with offshore brokers, attributed to the unreliable nature of the financial services they offer. The absence of oversight from recognized financial regulatory bodies means that traders are solely reliant on the broker's assurances, encapsulating a significant risk factor.


About RoyalCFDs ▲

Registered in: Marshall Islands

Type of License: Offshore License

Is RoyalCFDs safe to trade: No


RoyalCFDs operates under the trade name of DIGITAL WORLDWIDE OU, with registration in Tallinn, Estonia. Additionally, it mentions an association with Digital Enterprise Ltd., based in the Marshall Islands. This dual registration may lead to confusion regarding the broker's regulatory status. A broker's registration in a specific jurisdiction does not equate to regulatory approval to offer services within that region unless it is explicitly overseen by the respective nation's financial authority. RoyalCFDs falls short in this criterion, lacking regulation in any jurisdiction and receiving a blacklist warning from the UK's Financial Conduct Authority for unauthorized financial activities.


What is ROYALCFDS? ▲

RoyalCFDs stands as a provider of Forex and CFD trading services. The confusion arises from the broker's dual registration in Estonia and the Marshall Islands, without clear regulatory oversight from a reputable financial authority. The lack of regulation significantly undermines the broker's legitimacy, further exacerbated by a warning from the Financial Conduct Authority (FCA) in the UK, indicating unauthorized financial operations within the country.


Conclusion ▲

The verdict is clear: traders should steer clear of unregulated or offshore brokers such as RoyalCFDs due to the substantial risk of financial loss. It is imperative to opt for brokers regulated by esteemed regulatory bodies. For instance, brokers regulated by the FCA provide a safety net through the Financial Services Compensation Scheme (FSCS), ensuring coverage up to £50,000 per trader in the event of bankruptcy. Although we have reviewed over 1000 brokers, our findings strongly advocate for the selection of brokers with robust regulatory frameworks to guarantee a secure trading environment. Our investigation also revealed that RoyalCFDs' website is currently inaccessible, casting further doubt on the broker's operational status. Consequently, we emphasize the importance of avoiding offshore-based brokers, given their inherent instability and the absence of stringent regulations.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

RoyalCFDs

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare RoyalCFDs with its peers

RoyalCFDs

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare RoyalCFDs with its peers

RoyalCFDs
Blank Image

In a Snapshot

Name: RoyalCFDs

Website: www.royalcfds.com

Reason to avoid: Offshore license

Date: October 8, 2018

⚠️Caution: RoyalCFDs operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

RoyalCFDs Review 2024

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