Royal Financial Trading Review
Royal Financial Trading offers its clients a choice of two live No-Dealing-Desk (NDD) account types, a commission-free Standard account with no minimum initial deposit required, and a Pro one. The Pro account is in fact an ECN one, providing direct market access to the highly liquid forex market against a reasonable commission fee.
Of course, a free Demo account is also available, which mostly used by newbies, and micro lots can be traded on the Standard account.
Besides, Royal Financial Trading offers Multi Account Manager Solutions (MAM accounts).
The Company. Security of Funds
Royal Financials SAL
CBL & CMA
Royal Financial Trading (CY) Ltd.
Royal Financial Trading Pty Ltd.
Royal Financial Trading offers online trading in spot forex, spot commodities, stock, bonds & indices CFDs, ETFs, futures and options.It operates via three websites – www.rfxt.com, www.rfxt.com.lb, and www.rfxt.com.cy.
Established in 2006 in Beirut, Lebanon, Royal Financial Trading is an award-winning NDD broker, which nowadays has global presence. All companies behind the brand are duly regulated by the respective authorities in Lebanon, Australia and Cyprus.
Royal Financials SAL is licensed by the Central Bank of Lebanon as a Category One financial brokerage (which requires minimum paid up capital of USD 5 million) and is regulated by the financial markets supervisory authority of Lebanon, the Capital Markets Authority.
Australia and Cyprus, on the other hand, are presently one of the most popular forex hubs in the world. CySEC and ASIC apply certain rules and requirements to regulated firms, which provide a good level of credibility. Cypriot brokers must hold at least €730 000 in order to prove their good financial standing, while Australian ones must possess net tangible assets amounting to at least $1 million. Besides, licensed brokers are required to keep customer funds in segregated accounts, separated from the company’s operating funds, and to report the transactions to their regulators on a regular basis.
As a further guarantee to clients’ funds, all companies regulated in Cyprus are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default. Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent.
Minimum Initial Deposit
There is no minimum initial deposit set to open an account with Royal Financial Trading, so clients may start trading with just $1.
Average Spreads & Commissions
Royal Financial Trading offers competitive variable spreads. The ones on the Standard commission-free account start from 0.6 on the EUR/USD pair, and the spreads on the ECN account are as low as 0.1 pips on EUR/USD. Taking into account the commission applicable to this account type ($7 per standard lot round trip), the average trading costs for the EUR/USD pair are around 1.0 pips, which is on the lower end of average.
In comparison, AxiTrader (holding both ASIC and FCA licenses) offers average spreads of 1.2 pips for the EUR/USD pair on its commission-free accounts, while typical spread on ECN ones amount to 0.2 pips with commission $7 per standard lot. You may check out and compare the real-time spreads of 15 leading brokers here.
Clients of Royal Financial Trading are able to use leverage ratios up to 1:400 which is considered high. Some jurisdictions set limitations on leverage, which are significantly lower than this, i.e. 1:50 in the US and 1:25 in Japan. That is why Royal does not accept applications from U.S. or Japan.
With this broker investor can trade forex, various CFDs and other instruments through the most popular MetaTrader 4 (MT4) platform. It is available as a desktop download and mobile trading apps.
MT4 provides all the tools and resources a trader needs: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment. EAs allow full automatization of trades, so traders may let the program do all the work and eliminate the human emotions factor.
As most forex traders use VPS technology to ensure that their Expert Advisors can run non-stop, ROYAL has partnered with two of the most trusted VPS service providers (ForexVPS & BeeksFX) to offer its clients hosting solutions which aim to optimize their trading experience.
By the time of writing this review this broker offers its clients a Refer a Friend Campaign. It involves bonuses on total FX (spread) commissions paid by the referred friend, amounting to 20% for Standard account holders and 10% for Pro account holders. If you bring more than 5 friends to this broker, the percentage increases.
Methods of Payment
Royal Financial Trading offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, paper check, and e-wallets POLi, China UnionPay, Neteller, and Skrill.
Accepted currencies: AUD, USD, EUR, GBP, SGD, HKD, CAD, NZD.
Royal Financial Trading is a reliable and well-regulated NDD broker, offering competitive trading conditions for trading a number of financial instruments on the popular MT4.
Royal Financial Trading Review Conclusion
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