Are there any deposit/withdrawal/maintenance/education fees?
The Company does not charge any fees for client deposit or withdrawals. Clients making both deposit and withdrawals via Wire Transfers will be subject to the transferring bank(s) wiring fees.
How do I calculate profit/loss?
When a trader buys a currency that later appreciates in value, the trader must sell the currency back in order to lock in the profit. An open trade or open position is one in which a trader has either bought/sold one currency pair and has not sold/bought back the equivalent amount to effectively close the position. Once a position is closed, the profits or losses can be calculated. For example, if a trader sells 100,000 EUR/USD at 1.2340 and then buys 100,000 EUR/USD at 1.2760, his net position in EUR is zero (100,000-100,000) however his USD is not. The USD position is calculated as follows 100,000*0.042 = $4,200. The profit or loss is always in the secondary currency. In this case the profits and losses are in USD. The example shows a loss of $4200.
How do I withdraw my funds ?
Any documentation required from time to time by AML (Anti Money Laundering) regulations, credit card companies and RoyalPip, is a prerequisite to the execution of withdrawal orders. According to credit card companies' regulations, deposits may be returned to the same credit card when a withdrawal is performed. A withdrawal to credit cards will be executed back to credit card or to the bank account within five business days, at the Company's sole discretion. Withdrawals to bank account may take a longer time period, due to additional security procedures.
Is online dealing at RoyalPip secure?
Trading with RoyalPip is very secure, as we do our utmost to protect user confidentiality and we are also affiliated with regulated companies. RoyalPip is an internationally recognized Forex company that upholds the highest financial security standards. We use the internationally accepted security system SSL to encrypt all credit card payments over the web.
What Identification Documents do I have to supply and why?
When you open a LIVE Account with RoyalPip you are required to fax, or scan and email, your passport or ID card, a driver’s license with your photo, a copy of the credit card used on the deposit (including the last 4 digits and your full name) and a utility bill showing your current address.