Overview of Royal fees and charges
When it comes to brokerage fees Royal shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether Royal fees are an advantage for you. Continue reading about Royal fees and charges to see if this is the right brokerage for you or a similar broker like Eightcap or TMGM is better for you.
Here's a high level overview of Royal's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| EURUSD | Low | Classic zero account: the fees are built into the spread, 1.4 pips is the average spread cost during peak trading hours. |
| GBPUSD | Low | Classic zero account: the fees are built into the spread, 1.5 pips is the average spread cost during peak trading hours. |
| S&P 500 CFD | High | Zero Classic account: The fees are built into the spread, 1.4 points is the average spread cost during peak trading hours. |
| Inactivity fee | Low | No inactivity fee |
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 fees
Royal fees explained
We compare Royal fees with its closest competitors, Eightcap and TMGM.
Royal fees
Royal trading fees
Royal's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.
Let's break down the trading fees into the different asset classes available at Royal.
Trading fees
Royal's trading fees are average.
It is super hard to compare trading fees for forex brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of an example trade for two currency pairs.
- EURUSD, a popular currency pair
- EURGBP, another popular currency pair
The example in this context would mean that you buy for $20,000 using 30:1 leverage, and sell it after a week.
This super catch-all benchmark includes spreads and financing costs for all brokers.
Here is the verdict.
| Royal | Eightcap | TMGM | |
|---|---|---|---|
| EURUSD benchmark fee | $15.6 | $12.7 | $13.8 |
| EURGBP benchmark fee | $12.7 | $9.8 | $11.6 |
Financing rates
Royal financing rates are average.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
| Royal | Eightcap | TMGM | |
|---|---|---|---|
| Apple CFD financing rate | 4.0% | 2.6% | 0.0% |
| Vodafone CFD financing rate | - | - | - |
| EURUSD financing rate | 3.3% | 2.9% | 3.2% |
| EURGBP financing rate | 2.3% | 2.0% | 2.5% |
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
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 fees
Royal non-trading fees
When it comes to looking at all the non-trading fees Royal is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.
Non-trading fees include various brokerage fees and charges at Royal that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
| Royal | Eightcap | TMGM | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | No | No | Yes |
| Account fee | No | No | No |
Royal fees
Royal deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Royal is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Royal offers.
| Royal | Eightcap | TMGM | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Deposit fee | $0 | $0 | $0 |
Royal fees
Royal withdrawal fee
Unlike some online brokers we have reviewed Royal does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| Royal | Eightcap | TMGM | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee with bank transfer | $0 | $0 | $0 |
Royal fees
Royal inactivity fee
Royal does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).
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