StsRoyal Review Is Stsroyal.com A Scam Broker

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StsRoyal Review: Is Stsroyal.com A Scam Broker?

Stsroyal.com Review: this is the website of a Forex broker offering cryptocurrency trading platform. Is StsRoyal a legit Forex broker? Since this is an offshore based broker, funds safety is not assured. Find out more about this company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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StsRoyal is a broker that is located in the Marshall Islands, which is an offshore location. Forex trading goes on without proper regulation in this kind of location making it a choice base for scam companies.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of StsRoyal

One of the advantages mentioned by the website of this broker is the offer of cryptocurrencies. This is however not a special feat anymore as many brokers also offer this trading asset. It offers consolidated liquidity and advanced trading platform that can help clients make profits.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

A trading academy is also offered to train traders to become experts. Inviting clients through the referral program can help clients make money as every invited person earns them $200.

StsRoyal Trading Platform

There is no mention of the kind of trading platform to be used by clients of StsRoyal. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

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Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are currency pairs and CFDs on indices, commodities, stocks, and cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is not disclosed and but we found that spreads of 0.4 pips (with commission) are used.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on StsRoyal

The means of making deposits and withdrawals with this broker are listed as follows: VISA, MasterCard, Bank Wire, Paysafe, Neteller, Skrill, WebMoney, Qiwi, Yandex Money, AstroPay, and VLoad. We find these options encouraging.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $250 is required and this is within the obtainable average of $100 to $250 that is common among legit brokers. We could not find out much about the withdrawal conditions applied by this broker.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is StsRoyal Licensed?

No. StsRoyal is not a properly licensed and registered broker. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Blacklisted by the FSMA and CONSOB

The Belgium trading authority and their Italian counterparts have published warnings against this broker. They urge their citizens to avoid this firm as it is not licensed by them and may be involved in crypto-related frauds.

Support

We found no means of contacting the broker on the page which is discouraging. This is because some clients would want to get more information directly from a company’s representative.

Conclusion

StsRoyal is not a licensed broker and we rate it low because of this and the fact that it is blacklisted by two European forex authorities. The trading conditions are unclear and show that it is clearly shady. If you have anything to say about this broker, do so in the comment section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

StsRoyal Review – 5 things you should know stsroyal.com

Beware! StsRoyal is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

StsRoyal presents itself as a CFD broker focused on the crypto market, which also offers a wide variety of other trading instruments, including forex pairs, commodities, indices and stocks with five account types, competitive spreads and a web based trading platform.

Unfortunately the website is not regulated and what is worse it is blacklisted as a potential scam broker by several financial regulators in the European Union. If you are about to open an account with them be sure to read the following review fist.

StsRoyal regulation & safety of funds

To start with, we are not even sure which is the company behind the broker and where it is based. On StsRoyal homepage we find the name of Capital Letter GbmH, which in one section of the presentation is said to be registered in Munich, Germany, while in another – in the Marshall Islands. See for yourself:

On top of that in the StsRoyal Terms and Conditions we find the names of yet another three companies – BFXNA Inc., BFXWW Inc. and iFinex Inc., about which we know virtually nothing apart from a vague statement that all legal issues regarding the broker are governed by the laws of the British Virgin Islands.

That said we were not much surprised to find out that StsRoyal has been blacklisted as a potential scam website by the Financial Services and Markets Authority (FSMA) in Belgium, while another website – STSCrypto, also supposedly run by Capital Letter GbmH appears in the warnings list of the Italian financial regulator – CONSOB.

So basically what we are dealing here is a website that is more or less anonymous and that is most probably involved in scam.

As usual in such cases our best advise is to trade only with regulated brokers, licensed and authorized by well respected financial authorities like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

StsRoyal deposit/withdrawal methods and fees

Although StsRoyal says to accept payments with various e-wallets, including Neteller, Skrill and PayPal, as well as credit cards like VISA and MasterCard, when we proceeded with our registration it turned out the only payment methods available are wire transfers and crypto coins. Bear in mind that wire transfers and crypto payments can not be reversed, unlike payments made with VISA and MasteCard, where you can file for a charge back within a certain period of time.

Also as it turned out StsRoyal requires a minimum deposit of at least 500 USD despite the fact that in their presentation they say you need just 250 USD with their Intro account.

Finally, beware of any trading bonuses StsRoyal might offer you – the brokers advertises a welcome bonus of between 30% and 150%, and this is another worrisome sign.

The practice of offering trading bonuses is highly controversial and is forbidden on virtually all regulated markets. The reason are the additional withdraw conditions all trading bonuses are invariably linked to, which quite too often are used by scammers as a pretext to cancel your withdraw requests.

How does the scam work?

Each year investors in countries like the UK and Australia lose tens of millions of dollars to fraudsters, and if you are wondering how this might be possible, you should know that scammers are extremely well organized and employ lots of resources to run their clandestine operations. For example they use call centers in places like the Philippines, and specially designed scam portals, like Bitcoin Revival and Bitcoin Profit, which are also known as robo scam websites – if you happen to land on one of those sites, you will be greeted by a cheesy video, promising you fabulous returns in a matter of days, with a tiny investment and no risk at all.

And if you do register, by leaving your e-mail and phone instantly you will be transferred to the homepage of a unregulated, scam broker and will be invited to deposit about 250 USD.

Bear in mind that scammers’ goal is to trick you to deposit as much as you can, so you should not be surprised, by how amazingly successfully your initial trades will seem to be. That however will all be a part of the scam, as your trading account will surely be manipulated.

And you will be getting lots of phone calls as well. It will be your “senior account manager”, who will basically be telling you that if you really want to make some real cash, you definitely have to invest more – like at least 10 000.

And believe it or not but at that stage most people do invest that kind of money without realizing they have been scammed until the very moment they decide to withdraw some of their funds. Than out of the blue it usually turns out they are not eligible to withdraw anything because of some minimum trade volume requirement, they have not met, possibly linked to their welcoming bonus. The excuse might certainly be different, but the end result is always the same – scammers will not be paying a single penny back.

What to do if scammed?

If you are a victim of a scam, probably your only chance to get your deposit back is to file for a charge back with your credit card company. The good news here is that currently both VISA and MasterCard will allow you to do that within 540 days.

And if by any chance scammers have tricked you to give them your credit card number, or online banking password, immediately change the password and block your credit card.

Finally, if you are approached by the so called recovery agencies, do not trust them – they will not recover you a single penny, but simply will ask you for some money in advance, basically scamming you a second time.

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