CFD Royal Review Scam Complaint
CFD Royal is a forex and binary options broker. CFD Royal is an offshore brokerage company which once used to be a regulated by CySEC but now the website of the broker is operated by a whole different entity which is not regulated by any financial regulator. The name of the company behind CFD Royal is Y Media Group Ltd which is an offshore unregulated entity. This isn’t impressive to any of the trader out there, read the full review below about the broker.
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About the CFD Royal:
CFD Royal is a brokerage company which is not regulated by any financial regulator. CFD Royal offer its clients various types of accounts for trading with a leverage ratio of 1:200. The leverage ratio provided by the broker is pretty nice and competitive. This leverage ratio is the only advantage of the brokerage company as there is nothing good about the broker apart of this. While the broker provides several account types for trading but the broker doesn’t include tighter spreads for their bigger clients. This isn’t enough, the actual costs of trading with this broker are not mentioned anywhere on its website and the absence of full instrument list is also not surprising.
The most basic account type with this broker still needs the entry deposit quite high. Most of the regulated broker companies allow the newbies to try their service with something in the range of $50-$100. But, this unregulated broker CFD Royal requires a pretty high amount of $500 for trading with it in its basic account. Furthermore, the spreads provided by CFD Royal, are rather high in comparison to industry’s average at 3.9 pips on EUR/USD. Trading at CFD Royal is done through a web based platform. This particular interface is also used by other unregulated brokers. One of the other disadvantages of this broker is the lack of the demo account option which increases the suspicion of a scam even more.
Is CFD Royal legit or scam?
CFD Royal is an offshore unregulated broker offering trading in forex and binary options. The broker hides a lot of required information from the traders and its minimum requirements are also very high being an unregulated broker. The broker used to be regulated but currently is not that means there has been some scam involved. Therefore, it is advised to the traders to not handover your hard earned money to this broker.