RoyalCBank Review – Is RoyalCBank.com Scam or Legit?

Overview

RoyalCBank is a cryptocurrency and forex CFD brokerage that provides crypto services and is different from other crypto firms through its vast experience and customer service. 

Platform Features 

The company offers its investors a trading software from Airsoft. The software is a web-based CFD trading platform which cannot be used on mobile or MetaTrader4. It has more than 200 underlying assets available for trading such as cryptocurrency, shares, forex pairs, commodities, market indexes and stocks. 

Also the company developed a unique technology solution which employs innovative, high-frequency trading (HFT) technology to provide trading opportunities to its investors. RoyalCBank uses technical analysis to assess market movements and offer strategies like scalping and swing trading to their users. 

Both the website and web-based CFD trading platform are available in English and German.

Account Types 

There are six levels of account from which a retail trader can choose from. These accounts are Basic, Beginner, Medium, Advanced, Pro and VIP. Each account level has a deposit bonus, which increases as the level increases. 

• Basic

• Requires a deposit of 250 (USD, GBP or EUR)
• Traders receive a 30% welcome bonus
• Traders have access to an education center, daily market review, price alerts, webinars and 24/6 access to the support center

 

• Beginner

• Traders pay a deposit of 10,000 (USD, GBP or EUR)

• Traders receive a 40% welcome bonus

• Traders are assigned to a Junior account manager

 

• Traders have access to an education center, daily market review, price alerts, webinars and 24/6 access to the support center

 

• Medium

• Traders pay a deposit of 25,000 (USD, GBP or EUR)

• Traders receive a 60% welcome bonus

• Traders are assigned to a Senior account manager

 

• Traders have access to an education center, daily market review, price alerts, webinars and 24/6 access to the support center

• Advanced

 

• Traders pay a deposit of 50,000 (USD, GBP or EUR)

• Traders receive a 70% welcome bonus

• Traders are assigned to a VIP account manager

 

• Traders have access to an education center, daily market review, price alerts, webinars and 24/6 access to the support center

• Pro

 

• Traders pay a deposit of 100,000 (USD, GBP or EUR)

• Traders receive a 80% welcome bonus

• Traders are assigned to a VIP account manager

 

• Traders have access to an education center, daily market review, price alerts, webinars and 24/6 access to the support center

• VIP

This is exclusive for high net-worth clients. Traders in this account level are required to contact their account manager for further details.

 

RoyalCBank does not provide a demo account, but traders can have access to the trading platform and study it immediately after registering. 

Fees and Spreads 

The website does not contain any no information about their fees, commissions and spreads. Spread speculation ranged between 0.75% and 1%. Spreads for stocks were even smaller ranging from 0.1% to 0.2%. 

Deposits and Withdrawals

Deposits can be made to the company through bank transfer, credit card or cryptocurrency. Accepted currencies include USD, EUR, GBP, CHF, JPY, RUB and CNY. Accepted cryptocurrencies are bitcoin (BTC) and USDT. There are no extra fees for deposits. 

Withdrawals are made only through bank transfer and credit card. The minimum withdrawal is pegged at $100. Traders are informed that credit card withdrawals can take up to two business days to process and may take up to 10 business days before they can receive it. Bank transfers are shorter — they can be processed and approved within two to three business days and can take up to five days before a trader receives the fund. Withdrawals come with no charges. 

Trading software

As mentioned earlier, RoyalCBank uses a unique trading software from Airsoft. The charts on the platform are quite responsive and a trader can change the look of the chart. Charts could appear as bar charts or pie charts with dark or light background. The software contains 15 preloaded indicators which can be used to predict the price movement of an asset. These indicators include: 

• Average True Range
• Bollinger bands
• CCI
• MACD
• Exponential Moving Average
• Simple Moving Average
• Price envelopes
• PSAR
• Rate of change
• RSI
• WMA
• Zig Zag
• Stochastic
• Momentum
• Ichimoku Kinko Hyo

On the left side of the chart are six buttons. These buttons are: 

• Live TV: With this button, traders can stream news from media houses like RT News.
• News: Normally, the news section provides crypto news fed directly from Yahoo Finance.
• Gainers and Losers: Provides information on how much the cryptocurrencies on the platform have gained or lost.
• Favorites: With this button, a trader can set their favorite trading assets.
• Alerts: Price alerts can be set on the platform. However, the disadvantage of this is that these alerts cannot be sent to the trader’s email or phone, so once the trader is logged out of the platform, they cannot receive alerts.
• Activities: This button gives the trader quick access to deposit, withdraw and carry out different trade activities.

The software also provides the trader with three order types: 

• Limit order
• Market order
• Stop loss order

Trading Education Offered 

On the platform, traders can speak with their account managers who would guide them on the best strategies to minimize risks and make winning trades. Furthermore, RoyalCBank offers traders an Education Center where they have access to videos, e-books, charts and news. Interestingly, these resources are available to clients and non-clients. 

Available assets

The asset classes on the platform are as follows:

• 16 different altcoins that can be traded against BTC and USDT.
• 4 Ethereum (ETH) pairings.
• 2 Ethereum Classic (ETC) pairings.
• 1 Ripple (XRP) pairing.
• 10 index/BTC pairings.
• 12 commodity/BTC pairings.
• Over 100 stocks pairings.

All assets can also be traded against USDT. 

It is important to note that the broker provides only robust and profitable crypto assets, that is, cryptocurrencies with high potentials.

Reputation

RoyalCBank is approved by an organization known as Financial Commission. It is an affiliate of FINACOM PLC LTD, an independent self-regulatory organization and external dispute resolution body, dedicated solely to Forex. RoyalCBank is a Category A member — the highest degree of reliability for brokers. 

Due to this membership, clients of RoyalCBank can make complaints or report issues about broker’s performance to FINACOM. If this happens, FINACOM can act as a mediator between the client and the broker. Thus, clients can trust RoyalCBank, knowing that their funds and transactions are safe. 

In addition, this membership means that RoyalCBank is obligated to provide insurance policy to its clients. In a case where the broker goes bankrupt, traders will receive a compensation of $20,000 each, and this money is currently kept in a separate account.   

The company is highly transparent as it provides information on company ownership, privacy policy, legal and contact information. In addition, RoyalCBank ensures that there is no leeway for hidden or exorbitant costs, this is why it doesn’t use a commission model. Instead, it profits through bid-ask spreads. Its spreads are tight, meaning the broker takes only a small share of the profit. And traders can withdraw profits at no extra cost.   

RoyalCBank understands that traders will have questions from time to time, thus their website has a FAQ section that provides answers to the likely questions clients may have. Clients who have questions outside the FAQ can contact the customer support of RoyalCBank. This can be done through email (support@royalcbank.com), phone call, or a live chat on the website. 

Advantages

• Unique trading software: RoyalCBank has a unique trading software that gives traders access to over 200 underlying assets. Traders can also set limit orders, market orders, and stop loss orders. In addition, traders can receive notifications and alerts to track market prices of assets.

Since this software is web-based it eliminates problems like: (1) losses due to delays or other issues that will prevent a trader from capitalizing on price movements, (2) restrictions to a computer/desktop, (3) updates and installing security patches.

Also, transactions are carried out and reflected in real-time, and traders can view the trading history easily. 

• Multiple account options: As seen earlier, the firm has multiple account options (basic, beginner, medium, pro, advanced and VIP) from which traders can choose from. What this means that traders, no matter their level of experience and skill, can trade easily on the platform.

The broker also give traders the option of allowing experts trade on their behalf. RoyalCBank has a team of professional brokers and traders who understand the market, implement strategies, and can make winning trades for their clients. These experts monitor the market consistently to ensure that clients make maximum profits at all times. 

• Leverage: Traders operating Basic accounts are allows the use of leverage up to 1:10. The leverage is even greater for higher accounts.
• Modest deposit fee and private trading sessions: RoyalCBank offers a minimum deposit of $250. Deposits can be paid through wire transfer, credit cards, and e-wallets. Deposits are kept in segregated accounts to prevent misappropriation. Once clients pay this deposit, they get private trading sessions.

Conclusion

There have been countless praiseworthy reviews on RoyalCBank. These reviewers state that the company offers some advantages. For example, they have an easy sign up procedure. A user only needs to provide their name, email address and password, and they are registered within minutes.

They also claim to offer clients maximum security. Their website has firewalls which prevents cyber threats, and they also use a high-grade encryption for storing clients’ information. They also do not share clients’ information with a third party. With their Know Your Customer policy, every client is required to verify their identity with a valid ID and address before they can trade on the platform.  

Investors looking for brokers can choose RoyalCBank and feel safe about their choice.