Regal Wealth originally launched in 2016 as a binary options trading scam, and it is now promoting Forex trading. There are many people like you, who do not understand how these scams work, but if you read carefully we will explain it to you step by step.
When you are ready to trade CFD’s legally, with a licensed and regulated broker, you can look here to see the best brokers.
Regal Wealth Scam
Here is the most audacious part of Regal Wealth that shows it is purely a scam. They published on their site, (see screenshot below) that they will guarantee the first 50 members will make $10,000.
Who is Michael King, and how are you suppose to go and claim your $10K?
Are you going to send an email to the address on the Risk Disclaimer page: [email protected]. Another interesting fact is that the video for Regal Wealth was uploaded to YouTube on June 1st, which is 2 days after the domain name regalwealthapp.com was registered. (The website no longer works).
Any real trading software will clearly write that they make no guarantees about the software, because who knows what a software will do.
Regal Wealth Review
The first thing you will notice on the main page of Regal Wealth is that they show you “live results”. We immediately noticed a huge problem with their live results. May 30th is a bank holiday in the United Kingdom, and Memorial Day in the United States of America.
This means that the stock market is closed, and there is no trading in Google shares.
Regal Wealth Robot
Now that you see their live trading results are fabricated, you can have a look at their automated trading robot.
It doesn’t actually matter what the setting for the robot are, because we have no idea if it will attempt to trade Google when the stock market is closed or place random trades on the Euro when it is really trading with no basis to the algorithm.
Scam Brokers
The man in the video told us that we are going to be trading with a trusted and secure broker. He said that the broker is the one that they recommend.
The Regal Wealth software connected us with a confirmed scam broker that went by the name Secured Options. We signed up from Italy, and we could not find a license from CONSOB anywhere on the brokers website, because they are not a European licensed broker.
Compare Auto Trading Software
Most people use one of the brokers that are displayed on the Best Brokers page.
Australia ASIC Warning
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services license or is authorized by an Australian financial services licensee and regulated by ASIC.”
Please share with other people which broker Regal Wealth told you to use in the comments below.