ANSWER Royal Tungsten is not a licensed or regulated broker even though it states offers that look good to be true. Royal Tungsten claims to be owned and operated by Royal Tungsten Limited, a company authorized and regulated by the Australian Securities and Investments Commission (ASIC) with an ASIC registration number 001296969. However, when we searched in ASIC, we found the regulation status had ceased on 1st Oct 2022.The truth is, Royal Tungsten is no longer under valid regulation by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Royal Tungsten and trade with licensed brokers.
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