FX broker Royal takes action against fraudulent China sites
Global online Forex 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 said it 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, 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.
Andrew Taylor, Royal CEO noted:
“During these times being extra vigilant pays. 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 said that it will continue to take every measure necessary to safeguard the rights and safety of its traders and partners.