Royal Tungsten claims a lot of things and is posting plenty of misinformation online. For instance, you can find the broker advertising as ASIC-regulated, while their site also mentions NFA.
Therefore, we decided to clarify everything. And there’s no better way to do it than through a detailed Royal Tungsten review.
Royal Tungsten is owned by Royal Tungsten Limited. Or so we’re told. The company added an address from Australia, implying this is where to look for a license. Yet, once we searched through the ASIC database, we found no mention of the brand or the alleged owner.
Once we checked the trading terms, we were sure this company could not operate legally in Tier 1 jurisdiction. Both NFA and ASIC have a leverage limit of 1:50 and 1:30, respectively. However, the Royal Tungsten broker is offering up to 1:500, which is more like an unregulated offshore scam, such as Swiss Vests.
But before we jump to any conclusions, let’s see where this company operates and how.
Now that we know Royal Tungsten might not even be based in Australia, let’s see where it lures customers. According to their traffic analysis, the majority of victims come from:
It’s important to realize that this company is entirely anonymous, and we cannot prove its relations to Australia or even Royal Tungsten Limited whatsoever. Before engaging in online trading, ensure you check your chosen brokerage firm thoroughly.
Royal Tungsten claims in its fake praises to operate since 2011. However, their website was registered in the GoDaddy WHOIS database in May 2022. Since then, there have been many complaints and negative reviews.
While there is a lot of useless information on the website, there’s not a single word about the Royal Tungsten trading platform. They say they offer daily trading ideas, transparent trading conditions, and more. In reality, they do not.
If there were any transparency, we’d know if you can access a WebTrader or third-party software such as MT4, MT5, or cTrader. And yet, here we are without crucial details. To get access to anything, you have to deposit the money first. And we were unwilling to do so for obvious reasons.
If you’re about to trade, we always advise MetaTrader or similar quality software. With it, you will get an extensive range of trading tools, as well as increased safety of funds.
Here we have a large list of tradable assets. Almost as if they took all the assets they could remember and added them to a list. So, here’s what we have:
However, this list cannot be verified without platform access. And we’re not keen on believing in anything coming from this brokerage firm.
The company claims to offer 0% swaps and no commission. Practically, they’re telling you that you can invest for free, and they make no money out of it. Sounds like a charity?
No, this broker has an agenda, and we believe it’s vanishing with your entire deposit. It just happens too often.
Another thing we’re missing is a Royal Tungsten Demo account. As we said, you have to deposit the money first before being able to see anything.
On the main page, there’s a mention of one Royal Tungsten account type: a Zero Spread account. Allegedly, it has raw spreads, low commissions, and low trading costs. However, there is no further information about it, not even a minimum deposit you need.
In the section about deposits, the company mentions $100 as a minimum, with no deposit fees.
As you had a chance to see throughout the reviews, Royal Tungsten is asking customers to pay additional money before their withdrawal request is approved.
Here are the payment options:
The minimum amount for all is $100, and there are no fees. The company claims it takes up to 1h for the funds to appear in your account, which is just impossible. If you’ve ever transferred funds abroad through a bank, you know it takes at least a day to complete all the procedures.
While we doubt that a Royal Tungsten withdrawal is even possible, we’re absolutely sure that the information provided on the site is false.
If you lose your money trading with Royal Tungsten and cannot get a payout, it’s time to act. You should file a chargeback request immediately. If you use your crypto wallet, you can contact our CipherTrace specialists to track your digital coins.
Book a free consultation with Global Fraud Protection, and let’s work on your case before it’s too late! Monetary issues are time-sensitive, so act quickly!
Royal Tungsten is unregulated, and you shouldn’t invest in it. If, however, you were already involved with this financial scheme, we may be able to assist.
No, Royal Tungsten doesn’t offer a risk-free Demo or any platform access whatsoever.
Royal Tungsten requires a minimum deposit of $100 to start trading.
Royal Tungsten is unregulated, and you shouldn’t invest in it. If, however, you were already involved with this financial scheme, we may be able to assist.
No, Royal Tungsten doesn’t offer a risk-free Demo or any platform access whatsoever.
Royal Tungsten requires a minimum deposit of $100 to start trading.
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