Royal Capital Pro Review
Royal Capital Pro Review
Royal Capital Pro is a forex broker, which offers several account types. Islamic (swap-free) accounts are also available.
The Company. Security of Funds
Company Country Regulation
Media Zone Solutions LP UK N/A
Royal Capital Pro is owned by Media Zone Solutions LP, which is based in Glasgow, Scotland. As the name suggests this is a marketing company, which may have a partnership with another broker. However this is not disclosed on the website. Furthermore they are not overseen by the Financial Conduct Authority (FCA) or any other regulatory agency. This is very troubling, as all unregulated companies carry a lot of risk.
To put it into perspective – when trading with an unregulated broker, you may not get your investment back (let alone your profits). In order to ensure the stability of client funds, most countries have dedicated agencies, like the aforementioned FCA, which is one of the most reputable ones. It has the authority to enforce rules upon the brokers, which it oversees. When it comes to the security of your funds, two of them stand out.
All FCA-regulated brokers must keep clients’ money in the so called segregated accounts. These are specific bank accounts, which can’t be freely accessed. This prevents scammers from simply accepting money and not offering any service in return. Additionally all FCA-regulated brokers participate in the Financial Services Compensation Scheme (FSCS). It protects clients against their broker declaring bankruptcy. If you trade with such a company and it happens do go insolvent, your account will be protected up to £ 50,000.
Minimum Initial Deposit
The entry level at Royal Capital Pro is $500, which is a bit high for the current environment. Most brokers, like FXPro require only $100, with some demanding even lower levels.
On the other hand this factor does not provide any information on the viability of a broker, when viewed separately. Financial regulation is, in our opinion, the most important aspect of a company’s credibility.
Average spreads & Commissions
The costs of trading at Royal Capital Pro are not disclosed on their website. That being the case, we tested their services, after opening an account. The trading platform revealed a EUR/USD spread which fluctuated between 4.9 and 5.0 pips. This level is astronomically high for the current environment, as most brokers offer something in the 1.0-1.5 pip range. You can always view the current offers, provided by some of the top-rated forex brokers on our special page.
The leverage at Royal Capital Pro is capped at 1:200. This is a level which will suit most trading systems. That being said, a lot of brokers nowadays provide 1:500 or even more.
This may lead to the false presumption, that higher leverage means better trading conditions. This is definitely not true, as the only thing a higher leverage ratio provides is the ability to risk more. This is definitely not recommended, especially for beginners.
Royal Capital Pro offers trading via MetaTrader4 (MT4). This is the most well-known forex trading program, which is utilized by many forex brokers. The platform offers a great charting solution, with lots of technical indicators being available. Furthermore custom solutions are available. This is the most unique feature of MT4 – the MQL marketplace, which features thousands of new custom tools for the platform, including technical indicators and automated trading systems (or Expert Advisors).
Furthermore the platform has a web version, as well as mobile apps (for Android and iOS). They replicate the functionality of the desktop version pretty well, with the app being one of the most advanced ones available.
Methods of Payment
The methods of payments offered by Royal Capital Pro are Credit Card and e-wallets such as Skrill, Neteller, WevMoney and CashU. Bank Transfers are not officially listed as an option, but they are probably also available.
Royal Capital Pro is an unregulated forex broker. This makes the company less than ideal, without looking at the other factors. On top of that trading conditions are very unfavorable, as the spreads are very wide, when compared to the competition.
Royal Capital Pro Review Conclusion
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