Is Royal GTX Scam or Legit Broker?
No, it is not safe to trade with Royal GTX as it is not regulated. The broker does not provide any regulatory information, the company behind its name or contact details. That’s when it comes to transparency. Regulated companies keep all the information open to their clients as it is required by the law. Obviously, Royal GTX has no regulation and no authority to report to.
About Royal GTX
| 🗺️ Registered in | No registration |
| 🗺️ Type of License | No License |
| 🛡️ Is Royal GTX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets – licensed by ASIC in Australia |
What is Royal GTX?
Royal GTX was founded in 2010 and claims to be an international online trading leader, bringing closer to traders all the opportunities of financial markets. The broker provides full and free access to the MT4 platform. They specialize in leveraged Forex trading, offering every market FX, indices, commodities, shares, and cryptocurrencies.
- According to the terms and conditions of the website, Royal GTX falls under the regulation of Estonian Governing Authorities. However, we couldn’t find any mentions of this broker in the register of the Estonian local regulator.
-
Moreover, the UK’s Financial Conduct Authority has warned against Royal GTX:
“Almost all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized by us. This firm is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”
- The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As Royal GTX got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
Royal GTX Review Conclusion
We advise all investors and traders to avoid Royal GTX and other unregulated brokers. The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.
Royal GTX Update
Recently the Royal GTX website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.