Royal

Document
Royal Logo

Royal Review 2023

Written by: Krisztian G. Updated:Dec 2022
Expert verified
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

Royalย 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

Royal main highlights

๐Ÿ—บ๏ธ Country of regulation

Australia, Cyprus, Lebanon, Saint Vincent and the Grenadines, Vanuatu

๐Ÿ’ฐ Trading fees class

Average

๐Ÿ’ฐ Inactivity fee charged

No

๐Ÿ’ฐ Withdrawal fee amount

$0

๐Ÿ’ฐ Minimum deposit

$50

๐Ÿ•– Time to open an account

1 day

๐Ÿ’ณ Deposit with bank card

Available

๐Ÿ‘› Depositing with electronic wallet

Available

๐Ÿ’ฑ Number of base currencies supported

12

๐ŸŽฎ Demo account provided

Yes

๐Ÿ›๏ธ Products offered

Forex, CFD, Crypto

Fees

3.0
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

5.0
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

4.6
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

2.8
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 However, its design is outdated and it lacks a two-step login and price alerts.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

3.8
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

3.4
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

1.8
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

4.5
Royal has several user-friendly research tools, such as trading ideas and charts, although it lacks a quality news service.

Customer service

5.0
Royal has great customer support overall. However, they are not too responsive to emails and support is not available 24/7.

Education

3.0
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.