RoyalStox is purporting to offer brokerage services where investors can trade CFDs, Stocks, ETFs, Forex, Commodities and Indices.
In addition to these offerings, RoyalStox is also purporting to provide professionally managed investment services via robo advisors.
The broker wants to complement these services with trading tools and online courses. Unfortunately, they’ve failed to provide more information about their online trading courses.
This makes it difficult to trust them and would not want to include them in our list of the most recommended trading services.
We also noticed that all the links in the footer of this website are leading to a generic web page where the broker is boasting of their unverifiable achievements.
For example, they claim that RoyalStox is trusted by millions of clients around the globe yet that is not true.
This broker’s reputation is not known since they have not been around for a long time.
They claim that the company is based in the UK yet no specific business address was provided. Furthermore, we feel that the people who run the brokerage are 100% anonymous.
Their only claim to fame is an attractive website and nothing more.
Can we conclude that RoyalStox is legitimate? No, this broker is not legitimate as their website has all the red flags that indicate they are a potential scam.
Why we don’t like RoyalStox
Regulations in the UK require that all brokers should be licensed by the FCA in order to legally provide financial services.
The first thing you will notice is that this broker is not regulated, and this is typical of all scam brokers out there.
We can’t think of any reason why a legitimate broker would not find it necessary to obtain an FCA license.
The second red flag is that this broker’s minimum deposit is $250 but the next figure they expect you to deposit is $5,000 or more.
Brokers whose account types are designed like this will always coerce you to deposit more money.
They usually have an “account manager” whose job is to convince you to deposit more money with the promise that you will make more profits in a short time.
The account manager will be “trading” your account and generating “profits” for you. The profits are of course fake and the most amount of money you can withdraw is a fraction of your deposit.
These guys usually have very experienced sales guys whose job is to bombard victims with calls and emails that are intended to make them deposit more money.
In the end, you will get scammed because this broker wants your money and is purporting to provide trading services yet they don’t even have an FCA license.
For those who would like to trade by themselves, a platform like MT4 or MT5 would be the industry standard because traders are used to these platforms anyway.
I’ve looked at the supposed account types offered by RoyalStox but did not see any sign that this broker is offering these platforms for trading.
RoyalStox does not provide a practice account. On the other hand, all professional brokers who are licensed to provide financial services are always giving new traders a chance to test their spreads free of charge.
Since RoyalStox does not have a demo account for trades, it is impossible to know for sure what trading conditions they are providing unless we deposit $250.
This is a red flag because it shows that the broker is only interested in your money, not advancement as a trader.
RoyalStox is not a broker that you can trust. They are clearly a scam because even online feedback suggests that the broker is basically stealing funds from victims.
With a mountain of complaints and no one caring to fix this reputation, it only means you will be adding these thieves more money if you decide to sign up.