Royal Tungsten has been accused of posting false information online, such as advertising ASIC-regulated and mentioning NFA on their site. It’s worth noting that Royal Tungsten may not be located in Australia. This anonymous company’s link to Australia or Royal Tungsten Limited cannot be confirmed. Always do your due diligence and thoroughly research your chosen brokerage firm before engaging in online trading. To clear up any confusion, we have provided an in-depth Royal Tungsten review.
Website – https://www.royaltgs.com/en
Address – 118, Russell St Melbourne, VIC 3000, Australia.
Regulation – Unregulated
Warnings – Not recommended by review website like Fraud brokers
Domain address –
| Domain Name | royaltgs.com |
|---|---|
| Date Registered | May 14, 2022 |
| Domain Age | 1 year, 1 month, 1 day, 14 hours, 25 minutes, 10 seconds |
Is Royal Tungsten legit or a scam?
It’s believed that Royal Tungsten Limited is the proprietor of Royal Tungsten, but the company’s true ownership is shrouded in mystery. Despite the addition of an Australian address, no license for the brand or supposed owner was found in the ASIC database. The website does display an NFA ID number, suggesting that the company is regulated by US authorities. However, further investigation revealed that Royal Tungsten Limited is not a member of NFA and therefore not subject to NFA oversight.
Trading Assets
We have an expansive selection of tradable assets included on this list. It almost appears that they collected as many assets as possible and created the list. These include some of the following: currency pairs such as EUR/USD, USD/HKD, and GBP/SEK; commodities like gold, silver, and natural gas; indices like FTSE100, NASDAQ, and AU200; stocks including Amazon, Apple, and Intel; cryptocurrencies including BTC, BCH, and USDT; ETFs like iShares 2000 and The Invesco QQQ; along with bonds consisting of 5-year and 10-year types.
Nonetheless, it is impossible to confirm the credibility of this list without access to the platform supplied by this particular brokerage firm. We would be hesitant to put too much trust in what they have presented here.
Trading Platform
Despite the claims made by Royal Tungsten on its website regarding its daily trading ideas and transparent trading conditions, there appears to be a lack of transparency and information about the trading platform. Notably, there is no mention of whether the platform offers WebTrader or third-party software such as MT4, MT5, or cTrader. This lack of crucial details raises red flags. Furthermore, we found that depositing money is required to access any features of the platform. This seems like a significant risk to take without adequate information and transparency.
Demo Account
We do not currently have access to a Royal Tungsten Demo account and in order to view anything, users must deposit the money first. On the main page, there is mention of a Zero Spread Account that allegedly offers raw spreads, low commissions, and reduced trading costs. Unfortunately, there is no additional information about it or how much one needs to deposit initially.
Deposit and Withdrawal issues
Royal Tungsten is requesting that customers pay an additional amount prior to the approval of their withdrawal request. They claim to offer several payment options like Debit/credit card, Neteller, USDT, Skrill, and Wire transfer.
Reports state that there is a $100 minimum and no fees. The company further claims that it will take up to an hour for the funds to be visible in your account, however, this is not feasible given the standard procedure for transactions abroad. We are uncertain if it is possible to make a withdrawal through Royal Tungsten, but we can be certain that the information on its site is not accurate.
Conclusion
If you find yourself and your loved ones have lost money trading with Royal Tungsten scam and not receiving a payout, it is imperative that you take action immediately by submitting a chargeback request. Fill out a complaint form on our website and get a free consultation with our experts in the fund recovery process.
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