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The WikiFX Score of this broker is reduced because of too many complaints!

Royal Tungsten

Australia|1-2 years|
Regulated in Australia|Suspicious Regulatory License|MT4/5 White Label|Chinese market only|Australia Appointed Representative(AR) Revoked|Suspicious Overrun|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
RoyalTungsten-Demo MT5
Server Location Hong Kong

118, Russell St Melbourne, VIC 3000, Australia.
The WikiFX Score of this broker is reduced because of too many complaints!


VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core



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Broker Information


Company Name

Royal Tungsten Limited

Company Abbreviation

Royal Tungsten

Platform registered country and region


Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 5
Previous Detection : 2023-12-06
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 11 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Unable to withdraw

Fraud Alert

I sent them money via my bitcoin exchange, but when they said I had to top up my investment before I could withdraw, I realised I was dealing with a shady company , they did me bad before assetsclaimback ( received my return in full) I've made the decision to stop trading because most of this investment firm are scam)

2022-09-29 21:56
Unable to withdraw

Fraud platform. Unable to withdraw Fake website

Three weeks ago, a stranger added me on WeChat, chatted for a while and said that he invests in gold, and told me that he can make stable profits, and double it in a month. He introduced me to the Royal Tungsten platform for trading, and I went to The platform transferred 40,000 US dollars, and it was profitable at first, but after two weeks, the platform began to maintain and could not trade, and then I was about to withdraw funds, but the platform refused to withdraw funds, and told me that my account transaction was abnormal. In the protection mode, I can’t withdraw money, and asked to pay 30% as an asset audit. I transferred another 13,000 US dollars in as required. The customer service said that the audit failed and let me transfer another 30%. I went to their company according to the official website address of Royal Tungsten I wanted to transfer money face-to-face with the customer service, but the address provided by the website was fake, there was no such company at all, and the phone number displayed on Google Maps could not be reached, so I realized that this platform is a black platform. Now the account has 55,000 US dollars, and I cannot withdraw money

2023-04-05 21:50
Unable to withdraw

Fraud, maliciously causing abnormal account conditions as an excuse to freeze

I have been conducting normal recharge transactions and wanted to withdraw some funds. Initially, it was system maintenance, which lasted for two weeks. Later, the withdrawal was rejected. The platform now says that my account has been reviewed for anomalies for four weeks, and then notifies me that the account has been frozen, requiring me to verify 40% of the recharge transaction amount. I feel cheated.

2023-06-06 19:53
Unable to withdraw

I can't withdraw funds of 6.2 Million dollars (unable to withdraw & Scam)

I have deposited $5000 dollars (USD) in to Royal tungsten's wallet. I made lots of profits through scalping trading for few days and reached up to 6.2 Million Dollars (USD) Royal tungsten pointed out my trading is too frequent and violent. so they freeze my account for investigation. I understood they do investigation. However I kept telling them I didn't commit violation. There was some slippage while trading but I did trades myself using mobile phone.After investigation they told me I am abnormal and did illegal transaction. However, they didn't answer me valid reason why my tradings are illegal. They point out too many tradings with good profits. In order to withdraw money, they told me to make another deposit 10% of funds (620K dollar) that sounds like scam. I am really doubtful if Royal Tungsten is legit or not. They do not have company phone line and they do not answer any email. ( you can't basically reach to customer service unless you add them telegram)The email I received today, it is not even official email that requested me to make 5% deposit to unfreeze account. Looks like they keep trying to fishing me.You should not make any deposit to Royal Tungsten. They are not secured. 

2022-09-28 20:18

    Royal Tungsten · Company Summary

    Basic Information
    Registered Countries Australia
    Regulation No License
    Company Name Royal Tungsten Limited
    Minimum Deposit N/A
    Maximum Leverage 1:500
    Minimum Spread From 0.0 pips
    Trading Platform MT5
    Trading Assets Forex, Commodities, Indices, Metals, Energies, CFD Stocks, ETF, Cryptocurrencies, Bonds
    Payment Methods N/A
    Customer Support Email Phone, Online Chat Support

    General Information

    Royal Tungsten is a forex broker registered in Australia, providing access to a massive financial market, such as Forex, Commodities, Indices, Metals, Energies, CFD Stocks, ETF, and more. With the Royal Tungsten platform, three trading accounts are available, with the lowest required opening deposit being just $1, and traders can employ a maximum leverage of 1:500 on their positions.

    However, when it comes to regulatory information, Royal Tungsten disappoints us as it is not authorized or regulated by any regulatory authority. Thats why WikiFX gives it a relatively low score of 1.11/10.


    Market Instruments

    Royal Tungsten provide access to a wide selection of trading assets, including Forex, Commodities, Indices, Metals, Energies, CFD Stocks, ETF, Cryptocurrencies, Bonds, all available through this brokerage platform.

    Spreads & Commissions

    Royal Tungsten says it offers spreads from 0.0 pips, with low commissions charged.


    Royal Tungsten does not elaborate the minimum leverage. Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size, no more than a 1:10.

    Trading Platform

    The MT5 trading platform, widely regarded as the best in the business, is available through Royal Tungsten, which can be accessed on Windows, MacOS, IOS, Android.

    Payment Methods

    The minimum deposit to get started with Royal Tungsten is $100 and deposits and withdrawals can be made through several payment options, including VISA, MASTERCARD, Neteller, Skrill, Wire Transfer, USDT.


    Royal Tungsten promises that no fees or commission charged by them, and it takes only 1-3 hours to approve the withdrawal request, up to one hour to transfer the funds.

    Educational Resources

    Some educational resources are provided, including Economic Calendar, Forex News and Holiday Calendar.

    Customer Support

    Disappointingly, either phone support or online chat is provided. Clients who have any inquiries or trading-related issues can only get in touch with this broker through the following contact channels:


    Company Address: 118, Russell St Melbourne, VIC 3000, Australia

    Opening Hours: Monday-Friday 8:30 am to 5:00 pm, Saturday: 9:30 am to 1:00 pm.

    Risk Warning

    Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

    The information presented in this article is intended solely for reference purposes.

    Pros & Cons

    Pros Cons
    MT5 trading platform No regulation
    Online support available Limited trading assets
    High leverage up to 1:500 No clear information on minimum deposit, deposit or withdrawal
    Educational Contents No online chat support

    Frequently Asked Questions

    Is Royal Tungsten regulated?

    No, Royal Tungsten is not regulated.

    What is the maximum leverage provided by Royal Tungsten?

    The maximum trading leverage provided by Royal Tungsten is not disclosed.

    What trading instruments does Royal Tungsten provide?

    Royal Tungsten offers a wide selection of trading instruments, including Forex, Commodities, Indices, Metals, Energies, CFD Stocks, ETF, Cryptocurrencies, Bonds.

    User Reviews

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    Write a review

    more than one year
    I am changing my rating to 1 star coming from previous 3 stars. I made a withdrawal from October and it’s been two months, and the amount has not been credit. I know there are many investors experiencing the same currently.
    2022-12-19 09:48
    more than one year
    The website can't be opened, it must be running away. After trading in the foreign exchange industry for so many years, I have seen a lot of traders running away with money, but this time a friend of mine was cheated by this platform. I can't get the money back, forget it, let me go and comfort him!
    2022-12-15 09:50
    more than one year
    Unable to withdraw funds until my uploaded photos relieve me of the stress
    2022-10-01 18:51
    more than one year
    they are scam.
    2022-09-30 14:14
    more than one year
    scam. stay away
    2022-09-30 14:13
    more than one year
    Liar gang! scam! stop being fooled
    2022-09-28 22:41
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