Royal Tungsten Review: Is Royal Tungsten a Legitimate Broker or a Scam?
Royal Tungsten features a professional-looking website and makes trading easy to understand. The home page, which highlights minimal commissions, efficient trading, and simple withdrawal, also presents well.
Royal Tungsten Limited claims to be the owner and operator of the company, which holds an Australian Securities and Investments Commission (ASIC) license. However, we discovered from a search at the ASIC registrar that the regulatory license had expired in 2022. This shows that Royal Tungsten is no longer being actively supervised by any regulatory body.
The broker received a lot of complaints and poor Royal Tungsten reviews. If you trade with this broker, your money could not be secure.
Website – https://www.royaltgs.com/en/
Address – 118, Russell St Melbourne, VIC 3000, Australia
Warned By – Not recommended by review website like Report Scam
Problems with Royal Tungsten
We have seen reviews from customers who have lost funds dealing with Royal Tungsten. Many have stated that, despite the broker’s claims of low spreads and no commissions, they later discovered how the broker made their money. They charge fees of 30% to 40% before permitting withdrawals and make the excuse that they are holding money for taxes. This money did not go to the tax authorities.
Warning signs that Royal Tungsten may be a broker of scams
- Without a license
- Lack of transparency
- Large withdrawal costs
- Verified client issues
- Lie-filled statements
How do these brokers operate?
They frequently contact customers to solicit deposits. They are very good at this—promising exaggerated investment returns to entice you to make a deposit. If they are successful in convincing you to pay your initial deposit, they will call you frequently and ask you to make more deposits. They scam investors and then disappear without a trace. They become inaccessible via email, phone, or chat. The broker’s website frequently stops functioning after a while.
Royal Tungsten Review Conclusion
Because Royal Tungsten lacks a financial services license, we are unable to recommend them as a broker. On online forums, we also discovered some unfavorable remarks. This broker should be avoided since the money you’re investing is not safe. Regardless of whether it is an fx broker or any other firm, always ensure to read reviews about a business before transferring money to someone.
How can you recover your money?
If you have already made an investment with Royal Tungsten, make a withdrawal request right away. However, it’s possible that the broker won’t want to give your money back. With credit cards, you can choose between a chargeback and a refund. As a result, if you’re interested in getting your money back, you should contact your bank right away. The same holds true for money transactions made through internet payment processors.
You can also contact us if you are unable to obtain your money back. ENVERRA CAPITAL is a fund recovery expert with the highest success rates in handling cases related to online trading fraud (forex, crypto, binary options, etc.).
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