In the Deluxe Royals Review, you’ll read about the fraudulent nature of this Bulgarian broker. We’ve analyzed what’s on the table in terms of a license, trading platform, payment methods, etc.
We’ll tell you right away that Deluxe Royals isn’t a reliable and trustworthy broker. On the contrary, we’ve got a scammer here.
A scam and nothing else. Deluxe Royals has stolen its entire website and lied about being registered with US financial authorities.
The truth is that Deluxe Royals has no regulation or trading license, just like MBChains. Since this broker posted a Bulgarian address, we checked the database of Bulgaria’s FSC and found only a warning against Deluxe Royals.
Bulgaria’s FSC implements the regulation of the European Securities and Markets Authorities (ESMA), which means that Deluxe Royals is not compliant with those rules.
Please avoid this scam broker and find a reliable provider that’s licensed by Tier 1 financial market authorities such as the FCA, ASIC, BaFin, FINMA, CFTC, CNMV, etc.
Deluxe Royals is an unregulated Bulgarian broker that falsely claims to be registered with US financial institutions. Since December 2022, this scam broker has targeted traders from the Netherlands, Germany and Switzerland.
Here’s another one of Deluxe Royals’ lies. Namely, the bogus website tried to make the broker’s reputation seem legitimate but we saw right through it.
Deluxe Royals claims to be registered with the US Securities and Exchange Commission, Financial Industry Regulatory Authority (FINRA), and Securities Investor Protection Corporation (SIPC). This claim is false, no US body would accept a scammer such as Deluxe Royals!
Deluxe Royals was mainly active in Central and Western Europe. There are three particular countries where this scammer tried to find victims:
The regulators of all three countries operate under ESMA so you know what that means. Deluxe Royals has been trespassing in Europe.
Trustpilot is full of complaints against Deluxe Royals. All of them are in German, which supports our previous claim that this broker was active there.
It seems that withdrawal issues are a common theme in the complaints. Here’s a warning from one unfortunate victim of this trading scam:
When I wanted to close my trading account at Deluxe Royals, the payment was not made to my account but the money was debited from my account…
We got to see Deluxe Royals’ trading platform. It’s a simple WebTrader with limited options and features, nothing special. Since it’s browser-based, it can be accessed via mobile as well.
There are some elementary charts, indicators, and graphs but that’s it. Deluxe Royals doesn’t support a valid third-party platform such as MT4, MT5 or cTrader.
Here’s an overview of Deluxe Royals’ available trading assets and instruments:
When it comes to trading costs, i.e. spreads and commissions, Deluxe Royals offers different values for each account type. For example, the Student account’s spread starts from 3 pips.
That’s too wide to be competitive and profitable. Deluxe Royals didn’t disclose the commissions for the accounts, except for the Islamic type, which allegedly has zero commissions.
Let’s see the account types that Deluxe Royals offers on its website:
Charging 10,000 EUR for the Islamic account is simply discriminatory and shady. Furthermore, you’d have to invest a million euros just to get a favorable spread.
It clearly shows Deluxe Royals’ incompetence when it comes to trading. The broker’s leverage cap was not revealed.
No. We did get to see the web-based trading platform but couldn’t try out trading without registration.
Deluxe Royals was cunning enough not to include a free demo account. The fraudster wants you to invest hard-earned money right away in order to defraud you and steal your funds.
Similar to the offshore trading scammed The Traders Domain, Deluxe Royals offers various promotions and bonuses. Bonuses have been banned by ESMA because scammers usually award them with strings attached.
For instance, Deluxe Royals claims to issue a welcome and deposit bonus but then states that “fixed profit from the Bonus can be withdrawn in total amount equal to X * 5 standard lots for every 100 USD of the profit, where X is the amount of the fixed profit from the Bonus.”
That’s an insane and simply unattainable trading volume that’s guaranteed to prevent you from making a withdrawal.
Deluxe Royals must be taking traders for fools. If you take a closer look at the bogus website, you’ll see that Deluxe Royals plastered screenshots in the User Agreement.
What could the con artist be hiding? Could it be that the website has been stolen from someone else? We’re betting on it.
Based on the info on the website, Deluxe Royals accepts payments only via credit and debit cards. The minimum deposit is 250 EUR. You can find many legitimate brokers that will charge far less.
As for the fees, Deluxe Royals’ withdrawal policy states that in case of no trading operations, a “minimum sum charged from the Client’s account amounts to 30% from the net deposited sum by the Client, but it should not be less than 80 US dollars (80 Euros), based on the currency of the account.”
If Deluxe Royals violated any terms and conditions, please let us know. We’re willing to help you get your money back but you must act fast.
Book a free consultation with our team. They can assist you in requesting a bank chargeback within 540 days of the transaction.
If this broker steals your money, start the chargeback process. The fastest and easiest way to book a free consultation with us is via Online Chat.
No, Deluxe Royals is an unregulated scam broker that has been blacklisted by the authorities in Spain and its home of Bulgaria.
No, Deluxe Royals doesn’t offer a free demo account, which is a red flag!
No. Deluxe Royals’ platform is web-based so it doesn’t require a mobile app.
No. Deluxe Royals’ platform is limited and lackluster, without any advanced features.
No, Deluxe Royals is an unregulated scam broker that has been blacklisted by the authorities in Spain and its home of Bulgaria.
No, Deluxe Royals doesn’t offer a free demo account, which is a red flag!
No. Deluxe Royals’ platform is web-based so it doesn’t require a mobile app.
No. Deluxe Royals’ platform is limited and lackluster, without any advanced features.
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