|Broker Name:||Royal GTX|
|Broker Type:||Forex, indices, commodities, shares and cryptocurrencies.|
|Operating Since (Year):||2010|
|Phone:||+44 203 885 2113|
|Availability:||Monday to Friday, during working hours|
|Trading platforms:||MetaTrader 4, RoyalGTX Web Trader|
|Trading platform Time zone:||-|
|Bonuses:||55% bonus on first deposit, 30% bonus when you bring a friend|
|Other trading instruments:||-|
|Minimum deposit (€):||250|
Royal GTX Review Content:
- General Information
- Trading Accounts
- Trading Platform
- Customer Service
Royal GTX Review: General Information
Royal GTX claims to be on the market since 2010. However, it has many indicators that point to Royal GTX being a scam broker and like many fraudulent brokers, it seems to be lying about how long they have been operating. This is a common occurrence, that a less than legitimate broker uses a fake history of propriety to lure novice traders into a false sense of security. There are a number of other problems that we found while conducting the research for the Royalgtx.com review.
Starting with a host of bad reviews, over a number of different sites. They all claim to have had negative to downright fraudulent experiences with the broker. This on its own is definitely not damning for a broker as many get bad reviews from failed traders. However, Royal GTX has also appeared on the radar of the UK’s FCA, who has issued a warning on the possible fraudulence of the broker.
Then there is the fact that no specific address can be found to which the broker is associated with. When you go to the website, all you can find is that the broker is UK based, but there is no more information beyond that. This, on its own, is enough to raise suspicion, however, it doesn’t stop there. Nowhere on the website is it shown, who is the CEO or any other members of the firm at that. As a possible scam broker, this is a basic MO, to keep the culprits hidden.
Royal GTX has trading accounts that are very characteristic of scam brokers. These are fewer than is to be expected of a serious broker and have little to no information on the difference between the account beyond the deposit fee and do not include a demo account. A demo account which is well known to be one of the basic pre-requisites for any decent brokerage, among other things is used to determine the transparency of the broker. Neglecting to include such an essential element can only lead to one conclusion. That this broker is most definitely a scam.
One thing to be said about this broker is that they have chosen the right platform system.
Often we see with these obscure scam brokers, that they use their own developed trading platforms. These are usually terrible and an easy way to spot a scam broker. However, Royal GTX uses MT4 on both mobile and computer devices. Saying this though, they did not go all out it seems, as their web client seems to be proprietary, which is always a risky prospect, even with legitimate brokers.
As is the case with other scam brokers, Royal GTX’s customer support is lacking at best. They only indicate their email and phone number. Furthermore, they again neglect to include an address and have no live chat for resolving issues quickly. They indicate that they have working hours, but don’t mention what those working hours are. It is evident that they are trying to be vague as possible and try to dissuade people from contacting them as much as they can.
Royal GTX Review: The Conclusion
To sum up, Royal GTX is a broker, that has false information about its past, no information on its location or who the main players are, a multitude of bad reviews, a warning from the FCA, no demo account, and so on. This broker is beyond a doubt a scam, and not only that but a poorly conceived and executed scam.
If it hasn’t been clear enough, everyone should stay clear of this broker. In fact, if you are new to trading, we would advise you to look at these points and keep them in mind when choosing a broker as Royal GTX seems to check all the red flags.