Recommended for
- Investors and traders globally
Trusted broker
- Top-tier regulation
- Long track record - founded in 200
Popularity
865
people
chose this broker in the last 6 months
BrokerChooser Score
3.9/5
Our take on Royal
Royal is an Australian forex broker. Royal has low non-trading fees. There is also no inactivity or account fee charged. You can use a lot of deposit options and most of them are free of charge. Also, several high-quality research tools are available. On the negative side, Royal has high CFD trading fees and it has a limited product portfolio covering only CFDs and forex. There is a fee charged for most non-wire withdrawal methods and we missed some educational tools, such as webinars. Broker Chooser gave Royal a 3.9/5 rating based on analyzing 500+ criteria and testing via opening a live account.
FX commission per lot
Classic
Number of currency pairs
48
Minimum deposit
$50
Credit/debit card deposit
$1
Royal pros and cons
Pros
Cons
- Low trading fees
- Many deposit options
- Great research tools
- Slim product portfolio
- Most withdrawal methods carry a fee
- No webinars and platform tutorial videos
Royal main highlights
🗺️ Country of regulation
Australia, Cyprus, Lebanon, Saint Vincent and the Grenadines, Vanuatu
💰 Trading fees class
Average
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
12
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Royal has average trading fees. It’s great that no inactivity fee is charged. However, most withdrawal options other than bank transfer carry a fee.
Account opening
The account opening process at Royal is user-friendly and fully digital. On the other hand, it took more than 5 days for us to get our account approved.
Deposit and withdrawal
Royal’s deposit and withdrawal services are user-friendly, with several account base currencies available. On the other hand, withdrawals carry a fee in most cases.
Web trading platform
Royal uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report. However, its design is outdated and it lacks a two-step login and price alerts.
Mobile trading platform
Royal has a great mobile trading platform, provided by MetaTrader 4. It is well-designed and user-friendly, but lacks a more secure login.
Desktop trading platform
In design and functionality, Royal’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts
Markets and products
At Royal, you can trade only forex, CFDs and cryptos. This means that many popular asset classes, like real stocks and ETFs, are not available.
Research
Royal has several user-friendly research tools, such as trading ideas and charts, although it lacks a quality news service.
Customer service
Royal has great customer support overall. However, they are not too responsive to emails and support is not available 24/7.
Education
At Royal you can learn using educational videos and texts, as well as try out a demo account. On the other hand, there are no webinars or trading platform tutorial videos.
Safety
Royal is regulated by multiple financial authorities, including the top-tier ASIC. However, the broker is not listed on any exchange and doesn’t disclose its financials transparently.
