I have 2 accounts there. Fantastic execution, but it better be for their spreads. You have to "learn" how to trade their feed - it is basically a marked up ECN (or so they say). So it ticks a LOT, and is very fast. They're very fair though and easily accessible on the trade desk.

Their capitalization is not the best, but there is supposedly a merger that is going to take place between them and someone else.

I will also add, that I have 400:1 on both accounts, which was the main reason for going there. But I don't believe they offer it anymore with the recent NFA legislation that is going through.

I've not had stops run by them ever though. Several times my stops have been 1 tick away and it will tick back and forth next to my stop, but it isn't taken out (i.e. they don't push the prices down to it).

Overall, I'm happy. Wish the spreads were better though. But the news time execution is equally as well.

One more thing, if you see a discrepancy on their feed compared to the rest of the market, then don't trade. I'm talking major blatant issues, like a 30-60 second lag between them and the rest of the market. They'll bust the trades (and rightfully so since you'd be cheating). Best to just sit aside if this happens. I've only seen it once, this past Friday during NFP, and it was fixed in about 20 minutes. It was only on EURJPY. I traded the discrepancy and so did another guy I know. I gained and he lost on the trades, and both of our positions were busted/erased. So at least Royal was fair to take away his losing trades with the pricing problems they were having. I thought that said a lot for them since they called him first about it.

Hope this helps.