Independent rating of Forex broker Royal Pip
6/10 (votes 100)
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On-line since
2014
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Country of origin
Cyprus
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Regulation
CySEC
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Payment options
wire transfer, Visa/MasterCard/Maestro cards, Neteller, Webmoney
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Minimum account size
$100
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Minimum lot size
0.01
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Leverage
1:200
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Spreads
1.6 pips for EUR/USD
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All CySEC-regulated companies are members of the Investor Compensation Fund, where customers of authorized financial services firms may receive compensation, amounting to a maximum of €20,000, in case the broker becomes insolvent or ceases trading.
Moreover, CySEC-regulated firms are authorized to provide its services across the EU under the MiFID regulations.
In 2017, Novox was repeatedly fined (€180,000) by CySEC.
The broker offers the popular MetaTrader4 platform available in PC, web, and mobile versions.
The MT4 platform is preferred by most traders as this is a convenient tool supporting automated strategies, technical analysis, charts and strategy testing.
The broker offers three account types, including Standard, Pro and VIP. Standard and VIP accounts have variable spreads, leverage up to 1:400, no commission, and an option to trade micro lots. To open an account with Royal Pip, a trader should deposit at least $100.The Pro account type provides access to the ECN environment with minimum deposit amount of $5,000. An average spread for EUR/USD is 1.6 pips, which is slightly above than spreads offered by other firms. Most brokers offer spreads for EUR/USD within the range of 1.0-1.5 pips.
Moreover, Royal Pip’s website contains comprehensive tutorial materials.
Royal Pip offers the following payment options:
– credit cards — Visa, Master Card, Maestro
– wire transfer
– Neteller and WebMoney.
Account currencies are USD, EUR, GBP and JPY.
All payments are made without commission. However, for wire transfers there is a £30 bank charge. The minimum commission-free withdrawal amount is £250. Amounts smaller than this are subject to a £50 processing charge.
Comments
Positive
Negative
All
Author:
Zeca
Date:
2022-08-31 07:20:07
(UTC+3)
The spreads are not great as the other traders claimed. And it often disconnects and then can't reconnect on its own. When you start winning your trade they manipulate the market and do everything to make you to lose. Honestly, their server are always delay when executing an order, and they are not honest about the behavior either, I would suggest to avoid if you are thinking of scalping. Withdrawal is big issue that I had to wait longtime to get back money.
Author:
Sukhna
Date:
2022-04-27 06:34:16
(UTC+3)
I think Royal Pip is really unprofessional broker which provided poor mobile trading application service. First I trade with this broker for the past couple of months and the platform works fine during the day, without re-quotes. Last week, I try using their mobile applications because I went on holiday. After making a deposit, I opened the chart but it keep on loading all the time, and the platform keep freezing. I contacted to support team but they asked me to change to another provider or fixed my line. Does it make sense when I can use my phone to make calls and browse? I still don't know why it happened and think I lose about $450. So I would never again trade with Royal Pip broker.
Author:
Nial
Date:
2021-12-30 03:49:10
(UTC+3)
Last few days ago, when I login to my account I found that my current balance is $200. They cancel all of my profit. I already send several my to their client support department but they do not reply me back yet. I have two accounts one is Standard account and another one is Mini account. They cancelled my $400 profit on one deal, saying that I've done something against their antifraud policy but without any further and specific explanations why exactly. I would never again invest with this broker. They took money from my Standard account. they blocked my transaction and said it is illegal.
Author:
Claudiu
Date:
2021-11-02 06:58:47
(UTC+3)
Royal Pip is only ripping me off through trading fees. Even when depositing and withdrawing funds, the broker still charges fees which they did not mention from the beginning.
Author:
Bigail
Date:
2021-09-09 01:48:40
(UTC+3)
Spreads are high and trading conditions are confusing. Platform was not stable and withdrawal is very slow. They have high spreads and high minimum amount required to deposit for what they have to offer is unreasonable. The server connection often breaks and it makes me vulnerable to high losses. Constant requoting, the platform disconnects frequently and this is ruining my trading plans. This service is very poor in my opinion. As a broker, they should be able to make traders feel excited to be joining at this broker but rather the opposite.
Author:
Arell
Date:
2021-07-08 07:05:29
(UTC+3)
I used my credit card to fund my trading account at Royal Pip. The transaction was indeed fast but the problem is that the broker charged me with $200 which I only knew when I got my statement of account. This amount was not credited to my trading account so I do not know why they charged me with that.
Author:
Raiden
Date:
2021-04-30 01:16:07
(UTC+3)
I have 2 accounts with this broker. One account is the main account with a deposit of $ 5000, on this account there are often errors on the internet and their bad network. I opened the account 1 year ago. After the account problems often occurred, I opened a second account, but the same thing happened. Until now they have not made good changes either. I ended up closing all my accounts, and opening an account at another broker. And so far my trading has improved with another broker.
Author:
Weni
Date:
2021-03-18 06:55:37
(UTC+3)
I have only been with Royal Pip for a month but I am already hating my experience. The representative from this broker said that I will not need to worry about the fees because the spread is low. But as it turns out, their trading fees are unreasonably high.
Author:
Moran
Date:
2021-01-26 04:59:41
(UTC+3)
I am preferring to trade on the Royal Pip platform. As my order didn't delay and always I got the real-time market quote with a low spread in the market. The platform is user-friendly interfaces with advanced trading tools too. Besides their expert's signal make it easy to make a profitable order. Till now I have earned almost $630 in profits. I have withdrawal this profit via MoneyBookers payment gateway within a short time. Really I am satisfied with Royal Pip broker.
Author:
Mailenis
Date:
2020-11-18 05:54:45
(UTC+3)
I am currently waiting for the completion of my withdrawal request. It has been a week now and it still hasn't been transferred to my Neteller account. It was supposed to take only a few days according to Royal Pip itself but I have been waiting for a week already. The worse part is that the company is not even giving any notice or update regarding the transaction.
