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Royal Capital Pro is an Estonian broker, owned and operated by GoldTech Media Services. This broker has years of experience in the Forex world since it existed since 2010. People who stand behind the whole story are professional traders who want to make safe trading conditions and familiarise people with the Forex market.
I have to say, what I see from the beginning seems promising and outstanding. The platform includes more than 200 trading assets (currency pairs, metals, shares, and futures contracts). Services to individuals and large companies are available in more than 180 countries and assistance is provided in 32 different languages. As you can see, this broker is determined to provide excellent support and trading conditions. So, let’s not waste any more time and see whether those promises are fulfilled.
The website is full of details and different information. I have to be honest, this slows down the loading time a little bit, but if the rest is good, I won’t mind it. Also, the support might be available in 32 languages, but the website itself is only available in English and Arabic. There is the main menu, with all sections you need. We have a Trading Platform, Accounts, Education, Banking, and About Us page. Everything is done neatly and if you want more details, scroll down until the end of the landing page, they listed everything.
When it comes to accounts, you can choose between three of them, plus there is an Islamic account with special conditions. Certain things are the same for each account (except for Islamic one). The platform (MT4 and Mobile), trading instruments (Forex, Metals, Equities, Indices, Bonds, Commodities), account currency that is only in the U.S. dollars, no commissions, margin call of 150%, early closure fee of 5% and maximum size per each lot - up until 50.
Now, let’s see what makes these accounts different. The smallest one is the Classic Account. You need to deposit at least $500 and you get an account manager with a professional degree in Economics, free learning materials, and three trading sessions.
The next one is the Silver Account. It is similar to previous, but you need to deposit at least $2,500. Account manager and free learning materials are also included, but with this account, you get five trending sessions.
The third option is Gold Account. The minimum deposit is $10,000 but Royal Capital Pro will prepare more advanced materials, so you can learn different strategies. Also, there are seven trading sessions, free access to every tutorial on the website, and daily review of the market followed by recommendations from the account manager.
The last account you can choose is Islamic. This one is different since it is interest-free. Buying and selling occur immediately and the deal must be paid for in full without any delay. There are no up-front commissions, re-quotes, or hidden costs and you get free and instant access to all platforms.
Unfortunately, Royal Capital Pro doesn’t have bonuses, but there is a Cashback Program. With every LOT you trade you receive between $1 to $10 according to your cashback program. If you deposit between $5,000 and $10,000 you will receive $1 for each LOT traded. For deposits that are between $10,000 and $50,000 you get $5 per LOT and if the deposit is over $50,000 the cashback is $10 per LOT.
Although this doesn’t seem a lot, in a couple of months you will receive a decent amount of money that you can use for future trading.
Platform and Execution SCORE: 90%
The platform Royal Capital Pro uses is a well-known MT4. This is the most commonly used platform in the Forex market and it contains everything one trader needs. If you are a beginner, MT4 will be easy to use. It is fully customisable and you can adjust it just as you want.
What I like about the MT4 is that it has different charts, an interface that is easy to use, one-click trading, and a mobile app. So, you receive everything with just one app. It is downloadable, but you can also use it in the browser, the choice is yours.
Aside from that, Royal Capital Pro offers an online trading service. It has its mechanism and you might need some time to get used to it. This online platform will enable you to follow trades in real-time, to make purchases immediately, and fully manage your orders.
Withdrawal Speed SCORE: 75%
For deposit, you can use one of three available methods. The first one is the Credit/Debit Card. Keep in mind that this broker accepts only USD, so you may have to pay additional fees for currency exchange to your bank.
The next deposit method is Bank Transfer. With this method, you can transfer funds from one bank to another or person to the institution. Lastly, there is an eWallet option. This is always the fastest method for both deposits and withdrawals.
When it comes to withdrawals, methods are the same as deposits. Of course, you need to choose the one you used for the deposit. The process is quite easy. First, you have to prepare documents like official identification issued by the Government, proof of address, and colored copy of your credit card. Once you have everything they need, you can request a withdrawal.
Royal Capital Pro needs 24 hours to process your request, after that you will have to wait about seven business days to have money on the account. You cannot request two or more withdrawals at the same time, it has to be one by one but if you change your mind you can cancel the withdrawal while it’s still in the approval process and change the amount.
There are some fees that you need to pay. Royal Capital Pro charges a fee for transfers of funds standing, currently equivalent to $25 per transfer. The thing I dislike about this fee is the fact they can change it without prior notice. They can also introduce additional fees and they can inform you about that in less than 10 business days.
Support and Assistance SCORE: 50%
Customer support is the part I was the most excited about, I have to admit. Royal Capital Pro promised constant support in 32 different languages, so I expected a lot. Well, first of all, you cannot choose the language when you go to the Contact Us section. That said, we cannot know what languages are provided, everything is in English.
There are different contact methods like two different emails, one for support and one for complaints and I appreciate that. It’s much faster to receive a reply if you have different sectors for different problems. Also, the phone number is listed, so you can call them if you want an instant answer. Aside from that, there is a contact form on the website and you can type your message there. Someone from Royal Capital Pro will reply to you on the email you left.
Lastly, there is a Live Chat option and I have to say, I am disappointed with it. At the first glance, it looks just like any other Live Chat. But in fact, this is nothing more than another contact form where you can attach your message and wait for a reply. It’s not Live and you won’t receive instant answers.
In the end, customer support and assistance did not leave a good impression on me. Everything could be better organised and more responsive.
Education and Tools SCORE: 55%
The education section is one of the main parts of each broker. There should be enough learning materials, different video lessons, and news. So, let’s see if Royal Capital Pro implemented all of this.
The first section is the Forex Trading Strategies. Inside this segment, you can learn basic things about Forex like what are technical indicators, what is a trend trading strategy, etc. This part is free for everyone, you can read it even if you are not a member.
There is also part with trading signals, but it is reserved for registered users only. Overview of the Forex market is also exclusively for clients, but a mini glossary is free for everyone. There isn’t a news section and I am disappointed with that. Each Forex trader needs to be updated with the latest events, and Royal Capital Pro is not a place that will keep you up to date.
My overall impression of Royal Capital Pro is not that good. First of all, this broker doesn’t have a trading license. There are some positive things like account types and cashback programs but that is not enough for the recommendation.