RoyalCBank Review
RoyalCBank Review
Cryptocurrency has taken the world by storm as one of the most modern financial trading tools in the market. What a lot of people do not know is that cryptocurrencies have been around for a while, especially in the past decade, even though they were not popular, and they were not many. The pioneer cryptocurrency, which was introduced in 2009, is Bitcoin. As a financial instrument, Bitcoin had its biggest boom and acceptance in 2017, as that was when it gained the most exposure.
The most number of people, especially the earlier investors in the cryptocurrency market, recorded a lot of profits. The returns they made were so huge, and it attracted a lot of people. After the bitcoin exposure, a lot of cryptocurrencies were introduced, and they have become even more used in the day to day transactions. The trading opportunities for a lot of traders, both budding and experienced ones, have increased largely. The only question for people that do not so much about it is how they would get started.
Getting started in the trading of cryptocurrencies requires the assistance of a broker. The services of a broker are important to make it happen. There is no way to go around the assistance and support of a broker. A broker will offer you a platform to trade on and even the instruments of the trade and a lot of other features that you will need in the trade.
There are countless brokers, and the options for you, if you are on the lookout, are almost limitless. However, you can narrow down your search to brokers that focus more on the trading of cryptocurrencies. RoyalCBank is one such platform, and their services come into play if you need a broker to trade cryptocurrencies.
A lot of qualities are special about this broker, but one thing sets them apart from the rest, and it is the fact that former traders of equity and cryptocurrencies who have garnered so much exposure and experience introduced this broker into the investment industry. To ensure a good performance in the foreseeable future, this broker was launched.
This broker is special because it has the background knowledge of traders who have experienced the issues in trading and understand the concept will understand the solutions and how it is done. RoyalCBank is a broker that is the brainchild of experienced traders that have navigated the problems of the trading world. Traders of cryptocurrencies and their needs have been catered for by this broker because it was designed by traders who have so much experience and decided to provide a platform that solves the problems of other traders, which they experienced in their time. When you experience this platform, you will see first-hand that the broker has all the characteristics of a transparent and efficient platform. Some of the characteristic;
FinaCom Membership
A lot of traders are wary of brokers that are not compliant with the rules and standards of any regulators. They do not wish to engage or transact on any platform that is not regulated, and this has become one of the requirements for traders before they use the services of any broker. Any platform that is not regulated or monitored is avoided. Membership of the Financial Commission is an added advantage for RoyalCBank because they are regulated and monitored by them. They joined FinaCom on the 11th of July 2019. Being a member of the Financial Commission is a form of guarantee to traders by a platform. FinaCom is a mediator that offers its services worldwide. The interpretation of a broker being a member of FinaCom is that the broker is covered, and the service they render is in compliance with the standards of the regulatory body.
In terms of regulations, brokers are categorized in relation to their reliability. The highest category is category A, and RoyalCBank is of the A category. As a regulatory body, the Financial Commission supports dispute resolution, which may arise from time to time between the broker and their clients. The regulatory body assists with transparent and quick dispute resolutions that are related to the trading of cryptocurrencies. A trader can rest assured when they are aware that any dispute will be settled by a reputable regulatory body like FinaCom. The Financial Commission will go the length and take every legal step to settle any dispute that may arise.
Aside from the regulations of FinaCom, RoyalCBank, on its own, has set up rules and guidelines that all its staffers must abide by, and they take the concept of corporate responsibility seriously.
Offering tradable cryptocurrencies
The main reason any trader looks the way of a platform or broker such as RoyalCBank is that as a trader, you are interested in using their platform to trade cryptocurrencies, and any other thing is just an extra. Whether or not the broker is regulated by a reputable body is the first thing to consider, which, when gotten out of the way, takes you to the next step, which involves knowing the tradable financial assets that the platform can provide. There have been a lot of cryptocurrencies in the investment world since the inception of Bitcoin. These other cryptocurrencies have been known to generate profits in trade. Cryptos such as Ethereum, Ripple, and Litecoin are quite profitable. Extension of some of these cryptocurrencies often referred to as hard forks, are now traded as well. An example of the hard forks is Bitcoin Cash. All these cryptocurrencies are available for trading on the platform of RoyalCBank. Not all cryptocurrencies are featured by this broker as they are only interested in the ones doing well and making profits. Traders are interested in popular cryptos that will bring in the most gains. Cryptocurrencies are introduced from time to time, but first, they are observed and tested to know their profit potential. A trader will seldom run out of options of cryptos to trade on RoyalCBank.
Easy registration
Most people consider the registration process a tedious one as a lot of brokers have set up processes that are exhausting and time-consuming, and this alone deters a lot of people from these platforms. Traders want to get straight to their business when they feel like trading. They do not want to deal with so many obstructions while they are at it. RoyalCBank enables its traders to get started right away and does not impose any red tape on their registration procedures. The registration process on this platform is fast and seamless for anyone interested regardless of your experience in trading as an amateur or as a professional.
The only requirement during the registration is to provide fundamental information that includes your email address, password, and your name. The provision of these details is not time-consuming. You can get it done in a couple of minutes.
Offering different account types
Once the registration is completed on the platform, the next -required step for you to commence trading would be to open an account. Account options that you can choose from are available just as it is on other brokers. However, the options are more, and the packages are different in their features. The following are the account types offered by the broker;
The Basic Account: you need the least deposit of about $250 to open this account, and it is the first type of account that you will encounter on the RoyalCBank platform. Budding traders should choose this account as it is tailored for the lack of experience in the trading of cryptocurrencies, and they also do not have to risk spending a lot of money, which they might regret. The account comes with a bonus package that reaches up to 30%, and the traders will as well be equipped with educational materials to improve their trading skills and experience as they learn more on how to navigate the cryptocurrency market. There is also an added customer care and support system. There is also an alert for prices, and the market is reviewed on a day to day basis. There are educational and informative webinars as well.
The Beginner Account: more than the previous account type, this account needs a deposit of up to $10000 for it to start running. It is best suited for traders that have the least experience in the trading of cryptocurrencies and have maybe completed some trades in the past. This account offers a bigger welcome bonus than the previous account type. The bonus that comes with this account is 40%. It has a lot of features in common with the previous account type. The other difference that comes with features of both accounts is that a junior account manager is provided for you, and this can be helpful as this junior account manager offers a lot of assistance and instructions that will guide you in making decisions that relate to trading.
The Medium Account: traders that know more about cryptocurrencies and the guidelines that help in trading can go ahead and pick this type of account. The deposit requirement for this account type is an amount of $25,000, and it also comes with a bonus to welcome the trader, who is about 60%.
All previous features that are offered in the previous account type are available in this account type, but some upgrades are made to suit the experience of the trader. In this account type, the senior account manager replaces the junior account manager since the money involved is much bigger, and the trades are bigger as well.
The Advanced account type: this account is best suited for traders that have been around and gathered enough market experience and can afford to risk more, maybe that is why it is called the advanced account. For this account to be up and running, then a deposit of about $50,000 must be made as it is the least amount for this type of account. As expected, they have a more welcome bonus that is about 70%, and instead of a senior account manager, they have the VIP account manager that can manage their increased trading needs and their diversified portfolios.
The Pro account type: as you can tell from the account name, this account is tailored for professionals that have been trading cryptos for a while, and they are required compulsorily to run this account with the minimum amount of $100,000. The welcome bonus for this account is 80%, and the trading instruments offered are more, and there are a lot more features for people that run this account type. The pro account gives the professional trader room to explore their options and put their advanced skills and experience into good use in their trading.
The VIP account type: this is the last type of account offered by this broker. The VIP account is not provided to every trader. This account type is offered to exclusive clients. It is just not handed to anyone, so the status of the trader is verified when they meet certain standards that will make them allowed to run this account. The criteria and standards that have to be met for one to have the VIP account can be communicated to you by an account manager.
RoyalCBank offers these several account types in a bid to offer services that are tailor-made for traders with varying experience and skill sets. The options are enough to choose from to meet a trader’s desired need. There is always an account type that will work for any level of trader. The varying needs of the traders have been put into consideration first so the account types will cater to these trading needs, and the trader will not have to compromise.
Ease of deposits
After creating an account on the RoyalCBank platform, the next point of interest would be to commence trading almost as soon as possible. With this broker, you can begin to trade immediately as the process of depositing funds is seamless, unlike other platforms that will waste more time for the process to be done. There is so much ease in the procedures involved, and the platform puts in the effort to make it so. Once you access your account, you will be prompted to see a button that reads Deposit Funds. You are then expected to choose which method you prefer to use in depositing the funds. The broker provides you with three methods.
The options available allow you to choose either to go with payment cards such as MasterCard or Visa if that is most convenient to you. You can also choose to make a wire transfer from your bank account, or finally, the last option is to make use of cryptocurrencies. These options are provided to make the payment method easy and void of stress for the trader. When you have successfully completed the deposit processes, you will see a reflection of the funds deposited into your account, and you are permitted to commence trading whenever you want. As most people would already know, the use of bank transfers may take more time than other methods. Bank wires take anything between five to seven days for the funds to reflect. As explained with the account types, the least amount that can be deposited is set at $250, and it could come in any of three main currencies that include the United States Dollars, Euro, or Great Britain Pounds. To open a trade on the RoyalCBank platform through your account, you are required to make the least investment, which is 10 of the currency that you have chosen.
Seamless Withdrawals
The ease associated with funds deposit into the RoyalCBank account is duplicated in the event of withdrawal from the account as well. If you have ever used other platforms, you will realize that this rarely the case with a lot of brokers. On a lot of other platforms, the traders get stressed out when they try to withdraw their funds, which are perhaps the profits that they have made from their trades. This issue hardly ever arises when you use the RoyalCBank platform. When you access your page, there is a button that allows you to kick-start your withdrawal process.
The process of withdrawal demands that you input the amount you want to withdraw and what is your preferred payment method. The available methods for deposits are available for withdrawal as well. You can choose the bank wires, MasterCard, or Visa or the use of cryptocurrencies for withdrawal. You do not get to pay any fee for the withdrawal of funds, unlike most other platforms that charge you a commission for withdrawal. The only time you can cancel an initiated withdrawal process is when it has not been processed fully. Once that window is closed, it is impossible to do so. You can withdraw the least amount of 100 of whatever currency that you possess in your account.
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