NOTE: Royal Options official site - http://www.royaloptiontrade.com is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is Royal Option？
Royal Option is an unregulated broker that offers a variety of financial instruments, including Forex, metals, indices, cryptocurrencies, and stocks. Despite presenting itself as a comprehensive trading platform, several issues are associated with this broker, primarily its lack of regulatory oversight and the current non-functionality of its official website.
Based in the United States, Royal Option advertises high leverage of up to 1:500 and a minimum deposit requirement of $250. The acceptable payment methods include credit cards, wire transfers, and e-wallets such as Neteller and Bpay. However, the information can not be verified.
Pros & Cons
Pros:
Variety of Markets: Offered trading in forex, metals, indices, cryptocurrencies, and stocks. This is appealing to investors looking for a one-stop shop for various financial instruments.
Standard Minimum Deposit: The minimum deposit of $250 is fairly standard in the forex market.
Cons:
Non-Functional Website: The website being down makes it difficult to get access to more detailed information and verify it.
Unregulated Broker: The lack of regulation means they weren't overseen by any financial authority. This is a major red flag, as regulation helps protect investors.
High Leverage: Advertised leverage up to 1:500. While leverage can amplify profits, it also significantly increases the risk of losses. Reputable brokers typically offer much lower leverage.
Clearance Fee: Royal Option charges a clearance fee of 0.5% of each transaction. Real forex brokers usually charge no such fee.
Is Royal Option Legit？
Determining the legitimacy of the Royal Option is difficult due to several concerning factors. The broker lacks regulation, its website is non-functional, and it offers high leverage without clear regulatory compliance. Additionally, customer support is limited to email, raising questions about the broker's transparency and reliability.
Market Instruments
Royal Option offers a variety of market instruments, including Forex, metals, indices, cryptocurrencies, and stocks. This wide range of options allows traders to diversify their portfolios and potentially capitalize on different market opportunities. However, the broker's lack of regulation and the current non-functionality of its website make the safety and reliability of trading these instruments through Royal Option uncertain.
Account Types
Royal Option provides a range of account types designed to satisfy traders with varying levels of investment capital. The Basic account is the entry-level option, requiring a minimum deposit of $250. This account type appeals to new traders or those with limited funds who are looking to start trading. The Bronze account, with a minimum deposit of $1000, is a step up for traders seeking more advanced trading options.
Moving up the ladder, the Silver account requiring a deposit of $2500 and the Gold account requiring a deposit of $10000 are suitable for traders with a more significant investment capital and experience level. The Platinum account, with a deposit requirement of $25000, is the top-tier account for high-net-worth individuals or institutional traders.
Leverage
Royal Option advertised leverage of up to 1:500. Leverage allows you to control a larger position in the market with a smaller amount of your own money. Imagine you have $1,000 and a leverage of 1:100. This means you can control a position worth $100,000.
While leverage can amplify potential profits, it also significantly amplifies potential losses. With 1:500 leverage, a small move against you could wipe out your entire investment and even lead you to owe the broker additional money.
Deposits & Withdrawals
Royal Option offers multiple methods for deposits and withdrawals, providing flexibility for traders. The broker accepts deposits via credit cards, wire transfers, and e-wallets such as Neteller and Bpay. These options allow traders to choose the most suitable method for their needs.
Customer Service
Royal Option offers customer support primarily through email at support@RoyalOption.com, with an email contact provided for inquiries and assistance. While this can be a convenient way to reach out to the broker, especially for non-urgent matters, the lack of additional customer service channels such as phone support or live chat limits the accessibility and responsiveness of customer support.
Conclusion
While Royal Option claims to offer a variety of enticing features like multiple tradable markets and a standard minimum deposit, the red flags are too numerous to ignore. Their defunct website screams trouble. Even worse, they lack essential regulations, putting your finances at high risk. Please prioritize safety and choose a licensed and regulated broker with a clear and functional website.
Frequently Asked Questions (FAQs)
Is Royal Option regulated？
No, Royal Option is not regulated by any recognized financial authority.
What markets can I trade with Royal Option？
Forex, metals, indices, cryptocurrencies, and stocks.
What is the minimum deposit required to open an account with Royal Option？
The minimum deposit requirement for a Basic account with Royal Option is $250.
What payment methods does Royal Option accept？
Royal Option accepts deposits via credit cards, wire transfers, and e-wallets such as Neteller and Bpay.
Does Royal Option charge any fees？
Yes, Royal Option charges a clearance fee of 0.5% of each transaction.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
