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

Regal

Vanuatu|5-10 years|
Regulated in Vanuatu|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|Vanuatu Retail Forex License Revoked|High potential risk|

https://rcmfx.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
RegalCoreMarkets-Demo MT4
Server Location United States

Contact

contactus@rcmfx.com
https://rcmfx.com/en/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

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Broker Information

More

Company Name

Regal Core Markets

Company Abbreviation

Regal

Platform registered country and region

Vanuatu

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 4
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • VanuatuVFSC (license number: 15022) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

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Regal · Company Summary

General Information

Regal is allegedly a broker registered in Vanuatu, claiming to provide its clients with the maximum leverage up to 1:1000, competitive spreads, 200 tradable products with one account type, Regal MT4 Trader and Regal FX Derivatives Trader platforms.

Market Instruments

Regal advertises that it offers 200 trading instruments in financial markets, including forex currency pairs, forex derivatives, geography-classed, industry-classed and currency-classed multi-asset derivatives. Some other trading assets like cryptocurrencies of Bitcoin, Ethereum, Bitcoin Cash and EOS, precious metals, commodities and stocks are also available.

Account Types

It seems that only one Standard account type is offered by Regal. Unluckily, the broker didnt directly reveal any information on the minimum initial deposit requirement.

Leverage

The maximum leverage ratio provided by Regal is much higher than most brokers, up to 1:1000. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

According to the information revealed on the Internet, we found that Regal provides its clients with fixed spreads for EUR/USD pair of 2.5 pips.

Trading Platform Available

When it comes to trading platforms available,Regal gives traders two choices: Regal MT4 Trader and Regal FX Derivatives Trader. The broker claims that the Regal MT4 Trader gives traders access to highly customized smart tools and through its robust trade engine, they will be able to monitor open positions, place automatic orders, set up stop-loss levels and be notified on each successful trade. While with the Regal FX Derivatives Trader, traders will be able to access their derivatives trades through the powerful trading platform without requiring a secondary user account or any third-party software.

Deposit & Withdrawal

From the logos shown at the bottom of the home page on Regals official website, we found that this broker seems to accept deposits and withdrawals via China UnionPay and cryptocurrencies of Bitcoin, Ethereum and USDT. As for the processing time of deposit and withdrawal requests, the transaction of cryptocurrencies may take up to 2 working days.

Deposit

Customer Support

Regal‘s customer support can be reached through email: contactus@rcmfx.com or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like telephone numbers or company address while most brokers offer.

User Reviews

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FX1635068307
more than one year
I'm quite disappointed with their inability to facilitate cryptocurrency trading over the weekends. It's almost laughable. Recently, I encountered withdrawal issues with PayPal, which should be instantaneous and require no human intervention. This has happened several times now. Moreover, during market volatility, accessing the platform becomes a nightmare; there were instances where login was impossible.
2024-02-29 14:51
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