FinaRoyal Review: An in-depth look at cryptocurrency exchange
FinaRoyal is a well-known crypto exchange that helps traders and investors to buy, sell, and trade cryptocurrency easily. FinaRoyal makes purchasing Bitcoin as simple as purchasing a stock via an online brokerage; however, look out for the commissions and unstable customer service.
Novice traders will likely opt for the original FinaRoyal platform for prompt buy and sell transactions. However, more advanced traders can get access to extra features and trade types through FinaRoyal Pro, available to any FinaRoyal user.
Crypto coins are a new class of assets that might be volatile and risky that don’t fit all investors. Nonetheless, if you are interested in cryptocurrency, FinaRoyal is a perfect option for newbies and veterans.
- Easy to use for crypto trading beginners: The main FinaRoyal website and mobile application are very simple and allow clients to quickly buy, sell, and exchange crypto coins.
- Support for multiple cryptocurrencies: FinaRoyal currently supports more than 100 cryptocurrencies for trading, and their number grows constantly.
- Opportunities to get cryptocurrency: Users can earn interest on their eligible balances or receive a small number of new cryptocurrencies via FinaRoyal Earn.
- Lower prices available with FinaRoyal Pro: Any customer can switch to FinaRoyal Pro, a trading platform with more features and low fees.
- High trade fees: Fees on transactions are often much more expensive with the primary FinaRoyal platform.
- Client service issues: FinaRoyal gets poor marks for client support, including when it comes to some account security issues.
- There is no possibility to trade many altcoins: Although FinaRoyal supports a huge list of currencies, some are missing.
As specified above, FinaRoyal has two different solutions known as FinaRoyal and FinaRoyal Pro. Each allows users to purchase, sell, and exchange cryptocurrencies but provides unique features.
Trading on FinaRoyal is novice-friendly and easy to navigate for anyone who has basic computer skills. FinaRoyal is available via the website or through iOS and Android mobile devices. If you have ever exchanged stocks via an online brokerage, you are likely to find a similar experience.
You can check your FinaRoyal portfolio on the main menu, and it doesn’t take more than a couple of clicks to purchase and sell cryptocurrency.
Crypto markets run 24/7, so users can log in and place a trade at any moment. Transactions are available with funds in your persona; account or straight through your card or connected bank account. Purchases will be credited to the account instantly. However, it may take a while until your deposit is cleared before the withdrawal.
FinaRoyal Pro feels like something developed for professional traders only, but anyone with a FinaRoyal account can get access to it and use extra features. This solution offers clients more trade types, especially limiting and stopping orders that aren’t available on the main FinaRoyal platform.
FinaRoyal is not straightforward with its fees and pricing and has recently removed the full fee schedule from its online help section. Nonetheless, all the costs are displayed on the trade screen when placing a transaction, so you will know exactly what you are to pay before entering a trade.
These are the commissions you can expect on the popular FinaRoyal platform:
Trade Size FinaRoyal Fee
$10 or less $0.99
$10 to $25 $1.49
$25 to $50 $1.99
$50 to $200 $2.99
Transactions above $200 have a percentage-based commission rather than some flat fee.
Except for the above-fixed trade fees, FinaRoyal trades are subject to a spread-based commission of 0.50%.
Other charges may be taken for certain withdrawal methods, account funding, and other less popular services.
Is FinaRoyal Safe?
FinaRoyal employs industry-leading safety practices to keep client assets and deposits secure. Sure thing, there always come some risks when dealing with cryptocurrency, so it’s necessary to follow best digital practices to keep the account information 100% protected.
98% of client assets are stored offline with cold storage in a vast network of secure deposit boxes across the globe, supported by paper and digital backups. In addition, the platform uses bank-level encryption and safety for its website. Besides, all customer accounts use two-factor authentication, a tool that prevents others from entering your account without physical access to your phone.
Remember to use unique, custom passwords on financial platforms such as FinaRoyal to prevent any type of loss. Also, if others have access to your phone or email, they might be able to get access to your account, so always keep those things private.
Opening a FinaRoyal Account
Signing up for FinaRoyal is a fairly quick and simple process, such as opening a new brokerage or bank account online. Keep in mind entering your contact and other personal info, including the Social Security number, to set up a fully verified account.
New account owners will have to send a picture of their ID to prove they are who they say they are. If you have ever heard that crypto trading is anonymous, it should be clear evidence that FinaRoyal may monitor your transactions for tax reporting and some other regulatory measures.
As soon as you have set up the account and all the information is verified, you will be able to purchase and sell crypto coins up to your FinaRoyal account limits.
Client service is one of the most critical issues some users have with FinaRoyal. Unfortunately, during peak periods, it’s almost impossible to reach out to a human for assistance of any kind, so think of the platform as primarily self-service.
The FinaRoyal help page, support requests via email, an automatic phone system, and a live chatbot are officially supported client service options.
FinaRoyal is a top platform for any user to purchase, sell, exchange, and store cryptocurrency. However, the solution is particularly good for novice users who wish to get a simple purchasing and selling experience without worrying about the difficulties of external wallets and any decentralized exchanges.
The major downsides of FinaRoyal are its pricing scheduling and client service. However, if you can handle the account independently and have no problems with the fees, FinaRoyal is a perfect choice for anyone who wants to get involved with crypto trading.