ROYALPIP

About company:

Royal Pip is a brokerage company that uses NDD technology. The brand is operated by Novox Capital Limited, which has been licensed by CySEC since 2014.

 

Company. Fund security

CySEC requires regulated brokers to hold a minimum of € 730,000 (to prove their financial stability), keep client funds separate from the company's operating assets, and report regularly on their activities.

 

In addition, all licensed brokers are members of the Investor Compensation Fund, where the client can receive compensation of up to € 20,000 if the broker is unable to meet their financial obligations.

 

However, in 2017, Novox was repeatedly fined by CySEC for not complying with the Law on Investment Services and Activities and Regulated Markets. That is why we recommend you to be careful when working with Royal Pip.

 

Trading conditions

The accounts offered provide variable spreads, leverage up to 1: 300, no commission, and the ability to trade micro. The Pro account provides access to an ECN environment with fixed spreads. To open this account, you need to deposit at least $ 5,000.

 

In addition, Royal Pip offers extensive training materials on its website. Customers who open a demo account also get access to them.

 

Minimum initial deposit

To open an account with Royal Pip, you need to deposit at least $ 100, this is a small amount, but there are brokers on the market that offer less value. You can find them in our rating of Forex brokers.

 

Spreads and commissions

According to the information on the website, the broker does not charge any commission and its typical spreads are 1.6 pips on EUR / USD, which is slightly above average. Most brokerages offer spreads for this pair in the 1.0 to 1.5 pip range.

 

Leverage

Royal Pip offers up to 1: 300 leverage, which is the industry average. Most Cypriot brokers offer higher leverage, up to 1: 1000.

 

A higher level of leverage can not only multiply the profits of traders with a small deposit, but also lead to losses that exceed the initial investment.

 

Trading platform

This broker supports the industry standard MetaTrader4 platform, which is available in a variety of versions: desktop, web and mobile.

 

Most traders choose MT4 because the terminal is easy to use, supports automated strategies, offers an extensive testing environment, built-in technical analysis tools, and an extensive set of charts.

 

Ways of payment

Royal Pip offers several payment methods: credit cards, bank transfers, Neteller and WebMoney.

 

Accounts are available in base currencies USD, EUR, GBP and JPY. All withdrawals are free, however there is a £ 30 fee for wire transfers. The minimum free withdrawal amount is £ 250. Less amounts are subject to a £ 50 fee.

 

Pros:

 

ECN environment available; commission trade.

 

Minuses:

 

was fined by CySEC.