OneRoyal Review 2024
Website: www.oneroyal.com
Min. Deposit: US$ 50
Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MetaFX, MT4 MultiTerminal
Regulation: ASIC, CySEC, VFSC, FSA
Headquarters: Lebanon
Founded: 2006
Regulatory Licenses:
- Royal Financial Trading Pty Ltd - authorized by ASIC (Australia) license no AFSL 420268
- Royal Financial Trading (Cy) Ltd - authorized by CySEC (Cyprus) license no 312/16
- Royal CM Limited - authorized by VFSC (Vanuatu) license no 700284
- Royal ETP LLC - registered by FSA (Saint Vincent and the Grenadines) registration no 149LLC2019
Updated on February 26, 2024
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In evaluating forex brokers, we employ a comprehensive and rigorous approach. Our methodology encompasses an in-depth analysis that covers various critical aspects such as regulatory compliance, trading platforms, instruments offered, customer service, fees, spreads, and more. We compare these features against a benchmark of over 1000 brokers to ensure that our recommendations are well-founded and reliable. Our goal is to provide traders with clear, unbiased information to help them make informed decisions.
OneRoyal emerges as a distinguished online trading broker, offering access to a broad spectrum of trading instruments, including CFDs on over 180 major, minor, and exotic currency pairs in the Forex market, alongside Indices, Metals, Oil, Stocks, Crypto, ETFs, and more. Originating in 2006 under the Royal brand umbrella, OneRoyal boasts multiple regulatory licenses across Australia, Cyprus, Vanuatu, and Saint Vincent and the Grenadines, with representative offices in diverse locations including Limassol, Sydney, Beirut, Cairo, Lagos, and Florida. Notably, OneRoyal has established itself as a dependable Forex and CFD broker, offering competitive trading conditions, a wide array of popular market assets, and seamless trading execution via the renowned MetaTrader platform.
Pros
Widely recognized MT4 trading platform ensures efficient trade execution.
Comprehensive resource section featuring educational materials, technical insights, and trading tools.
Offers a wide variety of trading instruments with competitive rates and spreads.
Implements measures such as segregated client funds and negative balance protection to secure clients' assets.
Cons
Trading conditions may vary across different entities.
Lack of 24/7 customer support.
OneRoyal is far from being a scam; it is a credible brokerage entity regulated by esteemed authorities like the Australian ASIC and the European CySEC. These regulatory bodies enforce stringent standards and guidelines, ensuring that the broker operates in a transparent and trustworthy manner. Compliance with ASIC and CySEC's regulatory requirements significantly enhances the safety and confidence of traders opting for OneRoyal, thereby establishing its legitimacy and reliability. Our assessment assigns OneRoyal a Trust Score of 8.5 out of 10, reflecting its commendable reputation and services provided. Nevertheless, it's crucial for traders to note that services are also available via offshore entities, which may have different regulatory standards.
How Are You Protected?
OneRoyal's licensing across various jurisdictions entails a range of protective measures aimed at safeguarding clients' funds. These include the segregation of clients' funds from the firm's operational accounts and the prohibition of using these funds for operational purposes. Moreover, our investigation reveals that the broker offers negative balance protection for European clients to prevent them from losing more money than they have in their accounts. Additionally, clients of Royal Financial Trading (CY) Ltd benefit from the Investor Compensation Fund for Customers of Cypriot Investment Firms (CIFs) and an Australian fund if the accounts fall under ASIC's regulation, providing an extra safety net. However, traders should verify the specific protections applicable to their accounts, as these may vary depending on the broker entity.
Leverage serves as a crucial instrument, enabling traders to participate in the market with comparatively minimal capital. Nonetheless, it's imperative for traders to fully grasp the mechanics of leverage and its potential ramifications, as it can amplify both profits and losses. OneRoyal offers leverage in accordance with the regulations of ASIC, CySEC, VFSC, and FSA: Australian clients trading with ASIC-regulated OneRoyal accounts can access leverage of up to 1:30; European traders, under CySEC's jurisdiction, are also eligible for a maximum leverage of up to 1:30 for major currency pairs; whereas international traders may leverage up to 1:1000, showcasing the broker's flexibility in catering to the needs of a global clientele.
Based on our comprehensive analysis of OneRoyal broker, traders associated with Australian and European entities have the privilege to choose from six distinct account types: Classic Zero Commission, Classic ECN, Premium Zero Commission, Premium ECN, VIP Zero Commission, and VIP ECN. For traders under offshore entities, it is crucial to undertake extensive research to understand the available account options fully. Additionally, beginners have the opportunity to opt for a Demo account at no cost, which serves as an excellent platform to practice trading and evaluate strategies. For Muslim clients, OneRoyal provides Swap-Free accounts, also referred to as Islamic accounts.
How to Open OneRoyal Live Account?
Opening an account with OneRoyal is a straightforward process that can be completed in a matter of minutes. The steps include:
Selecting and clicking on the "Trade Now" page,
Entering the required personal information such as name, email, and phone number,
Verifying personal information through the upload of documents like proof of residence and ID,
Completing an electronic quiz to confirm your trading experience,
Following these steps, once your account is activated and verified, you can proceed with depositing funds.
OneRoyal provides a wide array of trading instruments, encompassing over 180 pairs in the Forex market, along with Indices, Metals, Oil, Stocks, Cryptocurrencies, ETFs, and shares. The Forex market, known for its excellent liquidity, features spreads starting from as low as 0 pips. It is advisable to conduct in-depth research as the availability of trading instruments may differ based on the entity. The OneRoyal Markets Range Score stands at 4.4 out of 5, reflecting a broad selection of trading instruments. However, the absence of popular asset classes such as futures and bonds should be noted, and traders may want to explore other brokers for these options. The variety of available instruments also varies according to entity rules.
OneRoyal is recognized for its competitive pricing structure across a range of trading instruments, without any hidden charges. There are no fees associated with account opening, closure, or inactivity. It is important to note, however, that certain fees may be applicable to deposits and withdrawals, contingent upon the chosen funding method and the country of registration. With an overall rating of 4.2 out of 5, OneRoyal's fees are considered average when benchmarked against our extensive comparison of over 1000 brokers.
Our evaluation revealed that OneRoyal offers tight and floating spreads, with an average spread of 0.2 pips for the highly traded EUR/USD currency pair, making it an enticing option for traders. This is significantly lower than the industry average of 1.2 pips. The broker also offers competitive spreads for all major currency pairs and other popular trading instruments. However, trading conditions may vary by entity, thus, thorough research is essential to fully understand the specific spread conditions. The OneRoyal Spreads are rated favorably with an overall rating of 4.4 out of 5, highlighting the broker's lower-than-average Forex spread and competitive conditions for other instruments, which can benefit a range of trading strategies.
OneRoyal presents a variety of deposit and withdrawal options, accommodating clients with multiple payment methods to fund their trading accounts. These include bank wire transfers, credit and debit cards, alongside electronic payment systems such as Skrill and Neteller. It's noteworthy that there might be specific conditions and restrictions tied to each payment method, contingent on the financial institution and the client's country of domicile.
OneRoyal's funding methods received a commendation for their convenience, with an overall score of 4.3 out of 5. The broker is recognized for its minimal fees and the availability of numerous account-based currencies.
Pros
Various funding methods including bank wires, credit/debit cards, and epayments
Competitive minimum deposit requirement
Cons
Withdrawal times can be lengthy depending on the method
In detail, OneRoyal supports payment methods such as Bank Wire, Credit/Debit cards, Skrill, Neteller, FasaPay, POLi, among others. Opening a live trading account is accessible with an initial deposit of $50 for a Classic account, a figure that is comparatively lower than the $500 minimum deposit required by most other brokers.
Withdrawals with OneRoyal are streamlined, though the time frame for receiving funds is dependent on the chosen payment provider and may extend up to 7 business days for methods like Skrill or Neteller.
Clients within Australian and European jurisdictions have access to the MetaTrader 4 trading platform across desktop, web, and mobile interfaces. MT4 is celebrated for its intuitive design, comprehensive feature set, and support for automated trading, thus providing a reliable environment for traders. For Money Managers and professional traders, OneRoyal offers specialized platforms such as MetaFX and MT4 MultiTerminal, designed for efficient fund management.
Compared to an analysis of 1000 brokers, OneRoyal’s platform is rated highly with a score of 4.4 out of 5.
Trading Tools
OneRoyal equips traders with an extensive array of Trading Tools, including advanced charting, an economic calendar, and a plethora of technical indicators. The inclusion of a Multi Account Manager (MAM) feature and the support for automated trading through Expert Advisors (EAs) enhances the trading experience, especially for those favoring a hands-off strategy.
OneRoyal’s customer support is operational 24/5 via Live chat, Email, and Phone. The support team comprises seasoned trading professionals ready to assist with technical issues, market analysis, and general queries. The quality of customer support has been evaluated with a rating of 3.9 out of 5 based on effectiveness and accessibility.
OneRoyal dedicates an extensive section of its website to educational resources, including technical insights, trading tools, and a knowledge hub. These materials, along with the provision of a demo account, offer substantial support for traders seeking to deepen their understanding of trading concepts. The quality of educational content is rated at 4.0 out of 5.
Conclusively, OneRoyal emerges as a formidable forex broker, offering a broad spectrum of trading instruments, competitive fees and spreads, and robust fund protection. The broker’s adherence to multiple licensing provides global trading accessibility, paired with the advantages of the MetaTrader 4 platform. It features advanced charting, algorithmic and automated trading, and a social trading component, catering to diverse trading strategies.
Moreover, OneRoyal’s rich resource section, filled with educational materials and technical insights, offers invaluable support for traders aiming to enhance their trading prowess. However, due to variations in trading conditions across different jurisdictions, it’s advisable to conduct an exhaustive review to fully understand the offerings pertinent to your region.
While OneRoyal is a commendable choice for traders across various levels, further investigation into the broker’s regulations, fees, and customer testimonials is recommended to ensure it aligns with your trading requirements.
