RoyalArmyFX Review: Royalarmyfx.com Boor Forex Scam

RoyalArmyFX (Royalarmyfx.com) is another crude and dangerous CFDs and Forex scam platform to watch out for. Royal Army FX is claiming to offer exclusive training sessions from the best trading experts. From what we can gather, RoyalArmy FX is purporting to offer the world to anyone willing to sign up with them. Why are members crying foul with this platform? Read this genuine and detailed ROYALARMYFX Review for more details.

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RoyalArmyFX Review

From what we can gather, RoyalArmyFX is another rotten online trading platform targeting investors. With the Middle East becoming a huge Forex market, investors from this region are a target. Most investors are enticed by the empty claims and promises made by this platform. From claims of expanding your trading portfolio to trading on the go, these scam artists have outdone themselves. Make sure to read this review as we will reveal some of the dirty tricks used by Royal Army FX.

The name itself is coined to appear affiliated to the Royal family of the UAE. Professional scam artists will do or say anything to try and make their platform appear legit. Thanks to our years of trading experience, we know how to spot a scam from a mile away. These scam artists have used information from real trading websites and posted on their homepage. Cloning of websites is a common feature with most online trading scams. We will expose these scam artists and ensure our readers are safe.

About RoyalArmyFX

According to the disclaimer at the footer of their homepage, the platform is based in UAE. These scam artists have claimed that the platform is located in the tallest building in the world. They are classy, trying to use a landmark to legitimize their scam. And the problem with this statement is that the building has contact details listed on the official page. A huge problem with RoyalArmyFX is failure to produce any details regarding the company behind it.

Anonymity is another problem we faced with this platform. Who are the actual owners of this platform? Why can’t we get the names of people running the show? It would have been great to get the name of at least one expert. This would have made conversing with at least one member easier. Why have they failed to give us any broker associated with the platform?

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Is RoyalArmyFX Licensed or registered?

With claims of being based in the UAE, you would expect some legal paperwork to be in place. The Central Bank of United Arab Emirates does not have any platform licensed under this name. And this is proof we are dealing with a lame platform. RoyalArmyFX is not licensed to conduct any Forex trading services in the Middle East. And this is proof we are dealing with a hoax. Any platform in this region has to be licensed and registered by the Central Bank of UAE.

Another scary feature with RoyalArmyFX is lack of proper documents to prove authorization. The platform should have posted copies of their license and registration certificates on the website. Lack of these vital documents is proof we are dealing with a hoax. Once you deposit funds with this platform, recovery will be next to impossible.

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Advantages of RoyalArmyFX

There is no trading advantage with a platform which is anonymous and unlicensed. With complaints increasing by the day, it is clear RoyalArmyFX is a cloned website. The number of complaints is staggering which means the platform has been stealing from investors for a while. In time, authorities will investigate this platform and shut down their entire website. It is best you steer clear of this rogue online scam platform.

Disadvantages of RoyalArmyFX

Account types

RoyalArmyFX is furnishing users with three account types to choose from. Accounts are listed as Basic, Standard, and Pro. What we noticed odd with these accounts is how similar they are to each other. Features are near same which makes us question the intent of this platform. Why would an investor deposit $5,000 and get same features as one who deposited $2,000? It is wise to check what each account is offering before committing to any.

Customer Support

Members of this platform are in for a rude surprise as the platform does not offer live chat support. Users can only send emails which are lousy as response may take months. The phone number listed on the contact page is ever busy. When the line goes through, no one picks it and we suspect this is a virtual phone number. In reality, these scam artists don’t want to be in contact with their would-be victims.

Demo Account

Another shocking issue we found with RoyalArmyFX is having a rigged demo account. Once you sign up with their demo account, you will notice the demo makes over 98% win trades. You would think that it is the member making all the right decisions. Best you stay away from this platform as it is a trap to convince you to open a real account.

Deposit and withdrawal

The depository channels listed include Bank transfer, Bitcoin, MasterCard, Neteller, Visa, and others. Deposit will take less than five minutes to go through; this is not a wise option. Withdrawing funds with this platform still remains to be the biggest hurdle. No investor or member has come out with proof of ever withdrawing funds with this platform. And this is why we must stay away from this illicit platform.

Safety of funds with RoyalArmyFX

With the platform failing to secure the website with ample security features, RoyalArmyFX is unsafe. Lack of DDoS and SSL encryption is proof we are dealing with an unstable platform. Hackers can easily take over this platform and steal valuable information such as credit card details. Make sure you never associate with this platform.

Scam or legit

With all evidence being put out in the open, RoyalArmyFX is definitely a scam. Make sure to mark their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from joining any of their affiliate programs. Never give your contact details to people who claim to be account managers with this platform. Your personal details maybe used to apply for online payday loans.

Verdict

We will be adding this platform to our scam blacklist to ensure our readers don’t fall for this trap.

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