Is Royal free?
Disclaimer: 86.67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Royal does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with Royal though, then you will find the fees they charge below.
Overview of Royal fees and charges
When it comes to brokerage fees, Royal is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether Royal fees are beneficial for you. Continue reading about Royal fees and charges to see if this is the right broker for you, or if a similar broker like Eightcap or TMGM might suit you better.
Here's a high-level overview of Royal's fees
|Assets||Fee level||Fee terms|
|US stock fee||-||Not available|
|EURUSD fee||Low||Classic zero account: the fees are built into the spread, 1.4 pips is the average spread cost during peak trading hours.|
|US mutual fund fees||-||Not available|
|Inactivity fee||Low||No inactivity fee|
Royal fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.
This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:
- Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
- A commission is either fixed or based on the traded volume.
- A spread is the difference between the buy price and the sell price.
- A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.
We compare Royal fees with its closest competitors, Eightcap and TMGM.
Royal trading fees
Royal's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.
Let's break down trading fees according to the different asset classes available at Royal.
Royal's trading fees are average.
Royal's forex fees are low.
|EURUSD benchmark fee||$15.6||$12.7||$13.8|
|EURGBP benchmark fee||$12.7||$9.8||$11.6|
Royal has high CFD trading fees.
Currency conversion fee
Royal will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..
Royal non-trading fees
Some of Royal's non-trading fees are average.
Non-trading fees include various brokerage fees and charges at Royal that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.
Royal deposit fee
Royal withdrawal fee
Royal inactivity fee
Royal does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).