Today’s world is not like the previous. When you want to enter the online trading arena, you can see a lot of options available. Unfortunately, the presence of fraudulent entities makes this task all the more challenging. Among the sea of brokers, One Royal has emerged as a controversial name. Let’s delve into the details to uncover the truth about this broker.
Is One Royal a Licensed Broker?
One Royal showed 3 licenses on their website. One is from ASIC, one is from FSA which is an offshore regulation company and does not exactly regulate its members. The third one is from Vanuatu Financial Service Commission which is also an offshore company. Also, if we look at their account and trading platform, we cannot see any demo account to check the MT4 platform. With 17 years of experience, it is acceptable as new traders to need to check the demo first.
Why Should You Not Trust an Unlicensed Broker?
The absence of a valid license should be a cause for concern when considering any broker. A licensed broker is subject to strict regulations that ensure transparency, fairness, and the protection of clients’ funds. Unlicensed brokers, on the other hand, operate without oversight, leaving investors vulnerable to scams, financial mismanagement, and the loss of their investments.
Can One Royal Be Trusted?
Though they have licenses, remember, two of them are offshore regulations which are not actually a regulation. Before engaging with them, do your own research.
What Do Traders Think About One Royal?
The opinions of experienced traders and industry experts hold immense value when assessing the reliability of a broker. A quick search reveals a significant number of negative reviews and complaints regarding One Royal. Traders have reported issues such as withdrawal problems, unresponsive customer support, and unauthorized trades executed on their behalf. These consistent reports of malpractice raise further doubts about the broker’s credibility.
Scammed by One Royal? Talk to Our Experts
If you have been scammed or believe you have fallen victim to One Royal’s fraudulent activities, Contact us today. We will provide you with a free consultation and service recommendations to help you in recovering the lost funds.
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