Royal Takes Action against Fraudulent Sites

Global online Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs broker, Royal recently reported a series of scam websites based in China operating under its company name and branding.

Royal recently rebranded its global operations under its new brand name at oneroyal.com. Before the re-brand, the company had been known as rfxt.com since 2006.

Since the re-brand, fraudulent sites in Asia, and particularly Hong Kong, have been targeting the company.

These scam sites use Royal’s logo, branding, and often a replica of the company’s website oneroyal.com, to potentially trick traders into making deposits they cannot later withdraw.

Royal prioritizes the safety and security of its online traders. The company recently alerted all its traders and partners of these recent developments, asking them to stay alert.

New unregulated scam forex brokers are emerging almost daily, promoting fraudulent services under well-established and trusted brand names.

Royal has operated within a strong and secure corporate governance framework for close to 15 years. It is regulated under CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term, ASIC, VFSC, CMA and registered under FSA.

The company has also grown exponentially over the years. This success has likely made it a recent target for illegal operations looking to capitalize on the trusted Royal brand.

“During these times being extra vigilant pays,” says Andrew Taylor, Royal CEO. “We value the reputation we’ve built with our traders and partners, and we take full responsibility to protect them very seriously."

Royal reminds traders and partners that its website address is www.oneroyal.com.

The company has notified the authorities and has taken immediate steps to shut down these scam websites. It will continue to take every measure necessary to safeguard the rights and safety of its traders and partners.

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