Royal Tungsten Review

Is Royal Tungsten a scam or legit broker? Read Royal Tungsten Review

Royal Tungsten is an Australian-registered forex broker that offers access to a huge financial market, including Forex, Commodities, Indices, Metals, Energies, CFD Stocks, ETFs, and more. The Royal Tungsten platform offers three trading accounts, with the minimum necessary beginning investment of just $1, and traders can use a maximum leverage of 1:500 on their holdings.

However, Royal Tungsten disappoints us in terms of regulatory information because it is not authorised or regulated by any regulatory authority.

The firm Royal Tungsten, which has the Australian Securities and Investments Commission (ASIC) license, claims to be owned and operated by Royal Tungsten Limited. But when we looked at the ASIC registrar, we discovered that the regulation status had ended on October 1st, 2022. This indicates that Royal Tungsten is no longer subject to any active regulatory oversight. The money that investors invest with this broker is risky, and no law can shield it from them. As a result, it is a fraud.

We also discovered that the website can be found at https://www.royaltgs.com/en/ but it was not functioning because it was suspended, which is always a bad indicator for brokers.

The broker got many Complaints and negative Royal Tungsten reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.

 Website – https://www.royaltgs.com/en/

 Address – 118, Russell St Melbourne, VIC 3000, Australia

 Warned By – Not recommended by review website like Report Scam

Despite royaltgs.com attempts to look legit and trustworthy, we can’t disregard the alerts that Royal Tungsten giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2023 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.

Possible scam activities of Royal Tungsten

Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.

Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Royal Tungsten review.

• The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
• The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
• The broker may have made a number of false claims through its website.
• The broker promises returns that are too good to be true.
• The risk warnings may not be disclosed on their webpage or would be hidden.
• The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
• The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
• This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.

Negative Royal Tungsten Reviews and Complaints

Royal Tungsten has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.

Example of Negative Royal Tungsten Review

After Searching internet you will find many negative Royal Tungsten Reviews. Users have frustrations and feel cheated after trading with this broker.

One of its investors has been attempting to withdraw money since mid-September 2022. (when the broker had their AFS license). First, the company demanded that he deposit the 40% of his taxable profits that were due, saying that it would take three to five working days to handle the tax and that he may then receive the money. He believes this to be a fraudulent statement because their website says there is 0% commission.

When they inform him that he must wait until mid-October to collect his payments, he becomes furious. Midway through October, the business offered another justification that was against the rules. Therefore, the broker advised him to pay an additional 30% of his profit to the platform, but the investor declined. He conducted another audit of the business, which had broken the Australian Corporation Act, and revoked his license at the beginning of October.

ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Royal Tungsten reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.