Bit-royalty is a cryptocurrency broker that claims to offer traders access to the global financial markets. However, there have been numerous concerns raised by financial regulators and traders regarding the legitimacy of this broker. In this article, we will review Bit-royalty, its regulatory status, customer support, trading methods, and trader feedback to determine whether this broker is trustworthy or a scam.
Overview
Before diving into the details, let’s take a quick look at the overview of Bit-royalty’s key features.
| Feature | Description |
| Regulation | Unregulated |
| Currency Pairs | Cryptocurrency, Forex, Commodities |
| Customer Support | 24/7 Live Chat, Email, Phone |
| Trading Method | WebTrader, MT4, MT5 |
| Trader Feedback | Mixed |
| Scam Probability | High |
Is Bit-royalty Regulated?
One of the primary concerns regarding Bit-royalty is its regulatory status. Upon checking the website, we found that Bit royalty is not regulated by any financial authority. This means that the broker operates without oversight, posing a significant risk to traders’ funds.
Warnings from Financial Regulations
Several financial regulators have issued warnings against Bit-royalty, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Financial Services Commission (FSC) in Mauritius. These regulators have warned that Bit-royalty operates without authorization and may be involved in fraudulent activities.
Is Bit-royalty Can Be Trusted?
Based on the lack of regulation and warnings from financial regulators, it is safe to say that Bit royalty cannot be trusted. The broker’s unregulated status and negative reputation indicate that it may be a scam.
What Kind of Currency Pair Do They Offer?
Bit-royalty offers a range of currency pairs, including cryptocurrency, forex, and commodities. However, given the broker’s unregulated status, traders should be cautious when trading with Bit-royalty.
Customer Support
Bit-royalty offers 24/7 customer support via live chat, email, and phone. While this may seem like a positive aspect of the broker, it is important to note that the quality of customer support is not an indication of the broker’s legitimacy.
Trading Method (MT4/MT5/Any other method)
Bit-royalty offers traders access to its proprietary WebTrader platform, as well as the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. While these platforms are well-known in the trading industry, it is important to note that they are not unique to Bit-royalty and do not necessarily make the broker legitimate.
What Do Traders Think About Bit-royalty?
The trader feedback for Bit-royalty is mixed. While some traders have reported positive experiences with the broker, many others have raised concerns about the broker’s unregulated status and the difficulty of withdrawing funds. Traders should be cautious when considering Bit-royalty as a trading option.
What To Do If You Get Scammed?
If you have been scammed by Bit royalty or any other broker, you can submit your case to us. We will analyze your case and will give you a free consultation.
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Final Thoughts
In conclusion, Bit-royalty is an unregulated cryptocurrency broker that has been the subject of numerous warnings from financial regulators. While the broker offers a range of currency pairs and 24/7 customer support, these features do not outweigh the risks associated with an unregulated broker. The lack of regulation and negative reputation of Bit-royalty indicate that it may be a scam, and traders should exercise caution when considering this broker as an option.
It is crucial for traders to do their due diligence and research the regulatory status and reputation of any broker before depositing funds. Additionally, traders should always be wary of brokers that promise unrealistic returns or pressure them to invest more money.
