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Royalarmy fx review ; Is Royalarmyfx review legit or scam, are they regulated see the truth

Royalarmy fx review ; Is Royalarmyfx review legit or scam, are they regulated see the truth

The estimated reading time for this post is 359 seconds

Royalarmyfx review ; Royalarmyfx is a dubious broker that claim to operate from Dubai. We believe that these are scammers since they have been deceiving innocent investors with an irrelevant license. According to who.is, the domain registration was just in 2018. Therefore, it’s actually a new broker.

Meanwhile, this broker claim to offer mt4 terminal as their trading plartform. In addition, their spread is quite tight as it is as low as 1 pip. Moreover, all these are empty promises given by Royalarmyfx.
Therefore finish this Royalarmyfx review and find out the truth about them.

To get across to them, potential clients will have to visit the contact page on the website and choose any of the available methods of communication.

Have you been looking for a reliable Forex and binary options trading plartform. Then hycm is your choice. A plartform with trusted ROI. They are well regulated and allow minimum deposit within the industry standard.

There has been a lot of testimonials regarding this company. Therefore you just have to register and join the rest in benefiting from it.

Royalarmyfx review

Royalarmyfx is a non transparent broker that operates from Dubai. They have been displaying an irrelevant license which they claim was given to them by the regulatory agency of Dubai. Unfortunately, that is a complete lie. Meanwhile, the body responsible for licensing forex brokers in Dubai is Dubai financial services authority (DFSA).
But this royalarmyfx has no license by DFSA. Therefore, we consider the license they claim to have as irrelevant license.

In addition, it’s difficult to determine the ownership of this broker. All the information they provide is quite ambiguous. First the operators say that it’s owned by Royalarmyfx pte LTD, which is basically licensed in Dubai.

But they also say they are a part of some “International Business Company”;  About which they do not bother to disclose any corporate details.  And which is supposedly registered offshore on the Seychelles

In addition, during this royalarmyfx review, we find the name of yet another entity; Hotstar Markets, which could be the broker’s previous name, but we can not be sure.

These people are obviously scammers. That’s why they are making every effort to ensure they confuse you using these ambiguous ownership information.

Security of your funds

Your money is not safe in this broker. The signs are obvious. Their identity is ambiguous. Their regulation is questionable. Therefore, we suggest that you avoid royalarmyfx at all cost. You can invest in better brokers like fxpro and hotforex that are well regulated. This way we can guarantee you the safety of your money.
Meanwhile these fxpro and hotforex are registered with FCA and Cysec. Moreover, these regulatory bodies offer clients compensation funds. Therefore investors will have the opportunity of getting back as high as $80000 and $20000 from FCA and Cysec respectively.

Additionally, during this royalarmyfx review, we noticed that they don’t operate segregation of account as they claim. Which means that royalarmyfx put all the clients money in the same broker account. Therefore if anything happens to the company account, then the traders money will disappear.

Royalarmyfx methods of deposit and withdrawal.

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The depository channels listed include Bank transfer, Bitcoin, MasterCard, Neteller, Visa, and others. Deposit will take less than five minutes to go through; this is not a wise option. Withdrawing funds with this platform still remains biggest hurdle. No investor or member has come out with proof of ever withdrawing funds with this platform. And this is why we must stay away from this illicit platform.

Royalarmy fx review on customer service.

We noticed  that the customer service of this broker is the worst I have ever seen. We filled out the registration form for a long time now, yet we have not received any reply from them. If you invest, you will surely loose your money. These people are scammers and very unserious. How will they help customer achieve their goal by not responding to their messages.

What is the available trading plartform.

However, In one of their pages, this broker parades mt4 as their trading plartform. Meanwhile, this sounds interesting as mt4 is the most widely used plartform with great advantages. Unfortunately, on making efforts to download the plartform, we realised that it’s a camouflage. The mt4 version is not downloadable. So they are just putting it up to deceive traders.

Moreover, during this royalarmyfx review, we also found out that they don’t offer any demo account. There is no way traders will practice and familiarize themselves with the trading conditions. Therefore we encourage you to always invest in a better, licenced and regulated broker.

Royalarmyfx review conclusion.

Finally, we will complete our royalarmy fx review, by advising you to join a good trading company like hycm. This broker has been scamming people since onset. Through out the internet, there are a lot of complains about them. Our own practical experience is that royalarmyfx refused to respond to our messages. Even after we tried to open account with them. Therefore, it’s obvious that their customer service is nothing to write home about. We strongly recommend that you avoid this broker at all cost.

Thanks for reading and don’t forget to share your experience on the comment section. You can also share this piece with your friends using the social media handles.
Happy trading.

 

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Royalarmy fx review

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