“Royal opportunities,” says the Royalstox website. “Designed for you to win the financial markets,” says another captivating header on the same site.
Has this FX broker has captured your attention? Do you want to know whether it is legitimate? Then you could not have come across this Royalstox review at a better time.
Royalstox review in a nutshell
Our Royalstox review will dig deep into this UK based broker and prove to you that its intentions towards your hard-earned cash are not royal at all. Its cheery, inspirational-quotes-filled website, backed by happy client testimonials, can quite easily fool the new and inexperienced trader into depositing substantial amounts of trading capital.
The experienced trader, though, can tell immediately that Royalstox is not the regulated broker it claims to be. Legitimate forex brokers always post their trading license numbers on their websites as proof that they are a regulated business entity. The Royalstox’s website footer only highlights the fact the website is owned by a Marom Partners LTD.
It also shows the business’s trademark numbers, and a St. Vincent and Grenadines address. Royalstox, therefore, does not have an FX or stock trading license. It is, therefore, an unregulated scam outfit, that as per the massive negative and heartbreaking reviews online, will take your money and vanish into thin air.
Have you lost your hard-earned cash with Royalstox? Are you having a hard time getting it back? Book a free consultative session with us right away. Our experienced wealth recovery experts can help you recover your trading capital.
The making of the Royalstox scam
The forex market has a massive number of regulated and unregulated brokers. Telling them apart can be a challenge. This market has provided the scammer with a feeding frenzy type of environment. The colossal turnover of over three trillion dollars in a single day ensures that there is a steady supply of novice traders out for a slice of the action.
Additionally, fraudulent brokers tend to launch seductive and powerful publicity stunts that will convince any person looking for a short cut to wealth. The forex market is also very unforgiving. This reality often dawns on most new traders on the very first day or week of trade.
If you do not have ample trading education and strategies, you will soon find yourself in despair. The losses will begin to eat away at your trading capital.
These frustrations often lead most inexperienced traders in a downwards spiral full of poor decisions. This keeps replicating itself, bringing fresh pickings that feed the voracious appetite of scam forex brokers.
Therefore, any trader getting into the FX market needs to understand that the distribution of traders that win in forex trading is exceptionally low.
Think of it as a pyramid scheme with a small 5% of ultra-successful traders at the top. A huge 95% of traders are often at the bottom and the middle. The forex scammer targets the lowest tier of traders constructing their trading strategies and trying to sell them off to the inexperienced trader.
Some of these fraudulent dealers have, at one time, made a profit of the market, but their greedy strategies led them to failure.
You should avoid Royalstox at all costs
Why avoid Royalstox? The financial markets are always changing, so every strategy needs optimization to stay effective. The scammer will, however, build a trading bot using a flawed or outdated strategy, which might generate profit for a few trades, but will not work over a longer period. These are the strategies that they will sell online to unsuspecting traders.
For this reason, if you search for Royalstox reviews online, you will find gut-wrenching stories. Many traders at first made some money with Royalstox, but eventually lost it all after a few trades. One frustrated trader, for instance, says that he handed £4,000 to this broker. His capital soon blossomed to £5,000 in a few weeks.
Naturally, Royalstox knew that their client was excited about the prospects of making more money. They, therefore, approached him and asked him to invest more funds for more profit.
Most wary traders will, at this point, want to withdraw part of their funds and reinvest it later when they have proved that they can trust their broker. Unfortunately, this is the point where things take a turn for the worse with this scam broker.
The dangers of unlicensed brokers
When our unfortunate investor asked Royalstox for his money, the broker swept his account clean. In frustration, he says that Royalstox is ruthless, and his new reality is that he must live with the knowledge that they took advantage of his trust and naivety.
Another Royalstox trader cries that she has lost $9,500 to Royalstox. She started at $4,000, which soon grew to a respectable $28,000.
When she asked to withdraw the funds, Royalstox slapped her with a 20% tax charge before the withdrawal of funds. This trader turned to friends, family, and paid the 20% charge. But Royalstox shamelessly slapped her with another 10% charge. At this point, this trader realized, albeit too late, that she had been scammed.
Such cases can be neutralized when the broker has a license. The regulatory body that supervises the broker will ensure that their traders receive fair and just treatment when they are subjected to unfair or illegal financial practices.
Every licensed broker must meet a level of financial scrutiny and regulations before operating in a particular jurisdiction. Failure to abide by these rules lead to a revocation of their trading licenses.
Some of the benefits of dealing with a licensed broker include:
- Fraud protection: That ensures that your funds are safe. A regulatory body will handle any cases of swindling, meaning that a trader can get justice.
- Compensation is assured when the broker goes bankrupt
- Fund segregation ensures that the trader and broker’s finances do not go into the same account. Your withdrawals will, therefore, be availed when you make them.
This fraud broker claims that they offer over 1000 financial trading assets to their clients. They define themselves as that intelligence and teamwork led team that wins the championships.
Royalstox is, however, without a doubt an unregulated scam website. Avoid them at all costs. If Royalstox is holding on to your funds, book a free consultation session with us. We will walk with you on the road to fund recovery.