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General Information
Broker Name: RoyalStox
Broker Type: Primarily Forex, but also offers other platforms
Country: St. Vincent and the Grenadines
Operating since year: unclear
Regulation: -
Address: 3 New St Square, Holborn, London, EC4a 3BF, UK
Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown, St. Vincent and Grenadines
Broker status: Active
Customer Service
Phone: +442038851407
Email: [email protected]
Languages: English (multilingual)
Availability: 24/5 for accounts or 24/7 customer service
In terms of the broker’s customer service, there are several things we can say.
Trading
Trading platforms: MetaTrader 4, RS WebTrader
Trading platform Time zone: -
Demo account: -
Mobile trading: -
Web-based trading: Yes
Bonuses: 30% loyalty bonus
Other trading instruments: -
Account
Minimum deposit ($): $250
Maximal leverage: 1:250
Spread: Fixed
Scalping allowed: unclear

Broker Review: RoyalStox

RoyalStox Review, RoyalStox Review CONTENT

  1. GENERAL INFORMATION
  2. FUNDS TRADING AND SECURITY
  3. TRADING ACCOUNTS
  4. ROYALSTOX TRADING CONDITIONS
  5. TRADING PLATFORM
  6. ROYALSTOX’S TRADING PRODUCTS
  7. CUSTOMER SERVICE
  8. CONCLUSION

General Information

RoyalStox is a new broker that started operating in 2019. The firm is based in Saint Vincent and the Grenadines. The precise address of their offices is Centre P.O. Box 1510, Beachmont Kingstown.

Upon entering the broker’s website, you see that the theme they wanted to go with was English royalty. However, they seem to have went with a prebuilt website instead of putting in any actual effort, so the result is a poor blend of their desired theme and a more modern/minimalistic style. However, if you’re looking to trade, aesthetics will hardly be the determining factor of whether you use a broker’s service or not.

So, in our RoyalStox review, we’ll go over the things that are crucial when deciding whether to use a broker or not. That includes going over their service, and perhaps more importantly, their safety.

 

Funds Trading and Security

Safety is one of the crucial factors to look at when selecting a broker. After all, what good is an amazing service if all your money gets stolen from you? RoyalStox is, unfortunately, just one of the many new brokers that try to trick traders out of their hard-earned funds.

The first issue is their location. Not all offshore brokers are bad, but RoyalStox tried to hide that they’re in Saint Vincent and the Grenadines by opening a customer support office in the UK and listing that as their address on their website. But that alone wouldn’t be enough for us to call RoyalStox a scam, so let’s move on.

They are also unregulated, which, in combination with their location, means that they’re likely to go unpunished for any malicious behavior. It also means they can just pack up their bags whenever they feel like it, while their clients never see the funds they invested again.

But even if the combination of those two factors doesn’t convince you, their reputation definitely should. The amount of negative reviews they’ve amassed in such a short period is actually impressive in a twisted way. At the same time, it’s painfully obvious that a majority of the positive ones are fake.

There’s no doubt that RoyalStox is an untrustworthy broker, and based on that alone, we couldn’t recommend using their services to trade.

Trading Accounts

RoyalStox Review, RoyalStox Review Although it’s already clear that the broker isn’t one you should trust, it seems like they weren’t even trying to hide that. Our RoyalStox.com review wouldn’t be complete if we didn’t mention the horrible way they organized their account types.

Of course, there’s no demo account since RoyalStox doesn’t want you to enjoy their service; they just want you to invest money. But moving onto the live account types, the first, Micro account sets you back $250. Now that isn’t a lot of money to invest when you can at least try a service out or guarantee its quality, but it is a lot when you’re giving money to a shady broker with a proprietary platform you can’t even test out.

But let’s at least try to imagine that the broker is trustworthy for a moment. The Micro account looks decent, if slightly below average for its cost. To move on, however, you need to invest $5000, which nets you the Standard account. However, here’s the surprise, the Standard account is actually a downgrade from the Micro account.

So, you need to invest $4750 to drop from a leverage rate of 1:350 to 1:200, get worse trading sessions, and lose access to an account manager. It’s ridiculous how apparent it is that RoyalStox provided zero attention to anything regarding their service. As far as the accounts go, there are four other types, but the prices are so astronomical that we feel they aren’t worth mentioning.

 

Trading Conditions

As we mentioned before in our RoyalStox review, perhaps the most important trading condition is safety. As the broker provides no security, the rest of the conditions are barely worth mentioning. However, we feel obligated to give you at least a short rundown.

The leverage is below average, and the spreads are fixed. The account typing is, as we already explained, laughable, and there are fees when withdrawing funds. Any additional info regarding the broker’s assets and platform remain hidden, but overall, even if RoyalStox weren’t a scam, it wouldn’t be worth using.

 

Trading Platform

The broker uses a custom platform, which is another sign of cutting corners. It’s much simpler to develop a clunky piece of software than secure your customers with something more standard, like MetaTrader. Consider the platform just another bullet point in the long list of signs that RoyalStox is a scam.

RoyalStox’s Trading Products

When it comes to trading instruments, it’s more of the same. Info that you can’t get unless you invest enough for an account. So much information is locked behind that paywall (or entirely absent) that you can’t even begin to think it’s a coincidence.

Customer Service

RoyalStox opened their customer support office in the UK in hopes of making themselves seem more trustworthy. However, next to all the other issues, it’s hard to imagine anybody trusting them. As for the customer service, you can reach them via phone or email, with no live chat option present.

Phone number: +442038851407

Email: [email protected] RoyalStox Review, RoyalStox Review

 

RoyalStox Review: Conclusion

There’s not much to be said that we haven’t mentioned in our RoyalStox.com review already. The broker is a scam through and through, raising every red flag they could. They require an investment for you to even test out their service, and half the things you need to know are hidden. The security is non-existent, and even if it wasn’t, the service wouldn’t be worth using over other, much better, online alternatives.

Save your own time and money and go as far away from RoyalStox as you can.

RoyalStox Review, RoyalStox Review
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  • Platform
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  • Trading Instrument
Comments Rating 1 (10 reviews)

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10 Comments

  1. Daniel Reinhard September 25, 2020
  2. Tahlia Moreton September 22, 2020
  3. Makayla Virtue September 18, 2020
  4. Roxanne Pichette September 15, 2020
  5. Finn McKeddie September 11, 2020
  6. Erin Dana September 8, 2020
  7. Peter Gordon September 4, 2020
  8. Mathilde Perreault August 31, 2020
  9. Elizabeth August 28, 2020
  10. scam August 27, 2020

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