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General Information
Broker Name: Royal GTX
Broker Type: Forex
Country: -
Operating since year: 2010
Regulation: None
Address: -
Broker status: Unregulated
Customer Service
Phone: +44 203 885 2113
Email: [email protected]
Languages: English
Availability: Monday to Friday
Trading
Trading platforms: MetaTrader 4, Proprietary Web Trader
Trading platform Time zone: N/A
Demo account: No
Mobile trading: Yes
Web-based trading: Yes
Bonuses: Yes
Other trading instruments: Yes
Account
Minimum deposit ($): $250
Maximal leverage:   2
Spread: From 1.3
Scalping allowed: N/A

Royal GTX

Broker Review: Royal GTX

General Information

Royal GTX is a broker that’s been around for quite a while now, namely, since 2010. However, don’t let the decade of business experience fool you into thinking they are secure. The broker has a whole host of issues, ranging from negative reviews, to even warnings by regulatory bodies.

In our Royal GTX review, we will aim to present the complete picture of the broker. Our hope is to help inexperienced traders learn to recognize scam brokers from honest businesses.

 

Funds Trading and Security

Funds Trading and Security Royal GTX isn’t the first broker with a ton of negative reviews, and it certainly won’t be the last. And while the amount and consistency of complaints against them is strong indication against the broker’s security, it’s not all.

Further proving Royal GTX is a scam is a warning by the UK’s FCA. To warrant something like that, the firm must’ve been conducting malicious practices for years. Coupled with that, there’s the usual lack of license and hidden info, including the location. All that is strong proof towards Royal GTX being a scam, but there’s even more coming in the rest of the text.

 

Trading Accounts

Trading accounts at scam brokers nearly always follow the same formula. There’s no demo, the first account costs $250, and the later ones cost way more. Royal GTX seems to have followed the formula exactly, as the accounts progression goes $250>$10000>$50000. Needless to say, neither of them is near providing a good enough service for the cost.

 

Trading Conditions

 

The trading conditions at Royal GTX are, even if you forget that they’re a scam, laughable. The only thing that seems good is the bonuses, however the conditions to redeem those are never worth it. As it stands, the promotions serve as bait for inexperienced traders.

When you go past those, you see that the leverage you’ll realistically get is only 1:100 and that the spreads start from 1.3, which is quite high. Along with the limited asset count and poor account typing, it becomes clear that finding a much better alternative is a simple task. We’d go as far as to say that clicking on a random broker will probably yield better results than using Royal GTX.

Trading Platform

If there’s one positive thing we could say in our RoyalGTX.com review, it’s that they almost did the right thing with their trading platform. Namely, they use MT4 for both their mobile and downloadable client. We say they almost did everything right because they still use a proprietary web client. The proprietary platforms these scam brokers put out are semi-functional at best, and often have security issues.

Royal GTX’s Trading Products

Royal GTX’s trading instrument page shows you a list of categories with only the “main” assets for each category. We’re unsure what criteria they used to determine which trading products are the main ones. However, it’s highly likely that the page’s intentionally been set up that way to avoid giving out a detailed list of instruments.

Customer Service

Royal GTX’s support is missing a live chat option, which, while far from the worst thing they’ve done, indicates a lack of effort. To further hammer on their point is the fact that they state their support works during working hours. However, they forgot to mention what those working hours are, so you’ll just have to guess.

Phone: +44 203 885 2113

Email: [email protected]

Conclusion

Royal GTX is a scam broker, and we feel like they’ve done very little to hide that fact. Everything on their website, from the unintuitive navigation to the lack of meaningful info, screams untrustworthy. Furthermore, they’ve earned a warning from the FCA in the UK, which means they’ve been pretty persistent in scamming people.

By now, it should be clear from our Royal GTX review that you shouldn’t even consider using their services. You can find much better, and more importantly, safer

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 1 (216 reviews)


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