Royal Capital Markets review – 5 things you should know about rcmtrading.com

Royal Capital Markets review – 5 things you should know about rcmtrading.com

Beware! Royal Capital Markets is an offshore broker! Your investment may be at risk.

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Royal Capital Markets is an offshore broker which offers attractive trading conditions and promises that the funds of the traders are being kept in safe hands. We remain sceptical about their ability to deliver, however, because of its heavy disadvantages, if compared to the European true Forex brokers. Also, Royal Capital Markets deliberately tries to hide part of the information about itself, which is a rather scam behaviour. Read all the details about this offshore Forex broker in the full Royal Capital Markets review.

Royal Capital Markets REGULATION AND SAFETY OF FUNDS

Royal Capital Markets is an offshore broker, which doesn’t show sufficient information to confirm that it’s a legit entity. They only list a British contact number, which is said to be their International one, and do not reveal anything about themselves on the website. All of the details are scattered among the vast number of PDF legal documents, which is a cunning attempt to make it harder to uncover, but we managed to do it quite easily, as a matter of fact.

Royal Capital Markets is an offshore broker, registered in St. Vincent and the Grenadines, a Caribbean island known for the loose regulation of its financial sector. The Forex brokers based in SVG work without supervision, entirely on its sole discretion, which significantly worsens the business environment, making it unsafe, unstable and hazardous. SVG is not surprisingly one of the favourite spots for scam Forex brokers and fraudulent enterprises.

The Royal Capital Markets address, however, raises the suspicions even more. It’s allegedly registered at the infamous Suite 305 in the Griffith Corporate Center, which is known to be the headquarter address of many controversial Forex brokers, such as CMTrade, WideCFD, Proquote27 and Coinsoft, to name a few.

Your funds are not safe if you make a deposit with Royal Capital Markets, it’s an unlicensed, unauthorized and unregulated Forex broker, which is risky enough to be avoided!

Our strong advice for you is to pick EU(mostly CySEC), or UK(FCA) regulated Forex brokers, as Europe created the safest financial environment for your funds and not surprisingly hosts the leaders in the retail FX industry. Most importantly, money protection schemes were created in Europe, such as ICF in Cyprus and FSCS in the UK, which is laid out to guarantee the deposits made by traders and investors. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in the UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.

Royal Capital Markets TRADING SOFTWARE

Royal Capital Markets offers Metatrader5 accounts to its customers; Metatrader4 is not available for trading. The EUR/USD spread is 1 pip most of the time, which is an acceptable difference. Demo trading is available.

The greatest concern, however, is the leverage levels, that they are offering. The highest possible leverage ratio is 1:1000, which is an insane level and a shortcut to the margin call. A sharp move of a few pips in the wrong direction will utterly destroy your account in a matter of seconds. The worst thing, however, is the fact that the minimum leverage possible is 1:100, meaning that the risk levels are way too high! EU and UK imposed a leverage cap of 1:30 as a customer protection measure, aiming to reduce the risk and create a safer environment for the traders. The trading with increased leverage ratios is considered gambling, and provenly leads to much greater losses among the traders.

Royal Capital Markets DEPOSIT/WITHDRAW METHODS AND FEES

The minimum initial deposit is $10 if you open a MiniECN account. The funding methods listed are Perfect Money, Advcash, Fasapay, Payeer and Bitcoin.

No minimum withdrawal amount specified, no fees determined, as well. The withdrawal request is said to be processed within 1 day, which is actually a favourable condition. However, the transfer of the funds might take some time, depending on the country you reside in, and your bank, respectively.

No dormant account policy found, also no fees for inactivity, which is a red flag, it’s an important matter that should be taken care of appropriately.

Royal Capital Markets offers generous bonuses, 50% on each deposit made. Leverage of 1:1000 plus a bonus applied means an overwhelming risk for your funds, creating a gambling environment. EU and UK disallowed the trading incentives for a reason; the data showed that the bonuses applied would significantly worsen the performance. Moreover, the brokers would speculate, claiming that they give away free money, which is not the case, but exactly the opposite is true. Each bonus would tie you to unfavourable conditions, which more often than not would freeze your funds, making you unable to make a withdrawal if you do not meet certain criteria in terms of trading volume.

We do not recommend Royal Capital Markets; it’s an offshore broker which we can safely call a casino, because of the immense risk associated with it. Stay away!

HOW DOES THE SCAM WORK

There are many different types of a Forex scam, but labelled by the “nature of their business” we will point out the most common ones.

  • Scam Forex brokers– this is the most usual device, a group of scammers will create many scam brokers and websites that will be operated at the same time. You can recognize these by the message that is sent- the scammers will promise risk-free trade, with guaranteed profits, and also an enjoyable experience in general. On the contrary, the true Forex brokers are obliged to warn the traders about the loss potential.
  • Scam Bitcoin brokers– these are extremely dangerous because Bitcoin is very trendy nowadays, associated with stupendous profits and colossal, rarely seen before, rise in value. The scammers are taking advantage of the fact that most of the people are generally unaware of how the Cryptocurrencies function in reality, making them believe that easy money is just around the corner.
  • Binary Options brokers– binaries has nothing to do with trading; it’s pure gambling and was banned by the financial regulators throughout the world. They manipulate the prices, and sooner or later, your funds are going to diminish.
  • Scam Trading Signals providers– the scammers will offer trading signals, and once you subscribe to their services, they will advise you to open an account with a scam Forex broker. These primarily operate in social media, and you should be very, very careful!
  • Scam Funds Recovery agents– these guys will contact you offering to help you recover your losses if you make an upfront payment to them. Beware, they are trying to scam people that have already been scammed.

WHAT TO DO WHEN SCAMMED

No one is immune to scam; anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience; it is important to protect others, as well. Be responsible!

Rich Snippet Data
Review Date
Reviewed Broker
Royal Capital Markets
Broker Rating
11stargraygraygraygray

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