GoldForex Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-08-14 10:41

Abstract：Incorporated in 2020, GoldForex is probably an offshore forex broker, owned and operated by GoldForex Global Limited. Since this brokerages website cannot be available for the moment, we could get minimal information. According to WikiFX, this broker is not subject to any regulation, and got a score of 1.34 based on License Index, Business Index, Risk Management, Software Index, Regulatory Index. This is a quite low score, traders are advised to take extra vigilance when dealing with this brokerage.

　　Note: GoldForex's official website: https://goldforex-uk.com/index.php？lang=enis currently inaccessible normally.

GoldForex Information

　　Founded in 2020, GoldForex is an unregulated brokerage company in Hong Kong. Since this brokerages website cannot be available for the moment, we could get minimal information. There are some complaints and negative reviews about this broker, which make this broker untrustworthy to trade with.

Is GoldForex Legit？

　　GoldForex currently does not hold any valid regulatory certificates. It lacks regulation from any recognized financial authority. Opening an online brokerage account can be an easy way to start investing and there are always risks in investing. But we can choose to stay away from certain risks.

Downsides of GoldForex

Regulatory Concerns

　　GoldForex is not regulated by any reputable financial authority. Before choosing a brokerage, remember to consider the risk involved.

Unavailable Website

　　GoldForex's official website is currently inaccessible. So maybe it's time to find another brokerage.

Lack of Transparency

　　There is a notable lack of information about GoldForex available online. This lack of transparency can really dampen investors' enthusiasm.

Withdrawal Difficulty

　　According to a report on WikiFX, a user encountered significant difficulties with fund withdrawals. Despite the request being pending for over a week, the issue remained unresolved.

Negative GoldForex Reviews on WikiFX

　　On WikiFX, “Exposure” is posted as a word of mouth received from users. Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

　　As of now, there are three pieces of GoldForex exposure in total. I'll introduce two of them.Exposure 1. I can't trade

Classification	Unable to Withdrawal
Date	November 19, 2020
Post Country	Japan

　　The user said that “Unable to withdraw. And I can't contact customer support”. You may visit: https://www.wikifx.com/en/comments/detail/202011292632187384.htmlExposure 2. They changed my password

Classification	Unable to Withdrawal
Date	January 8, 2021
Post Country	Hong Kong

　　The user said that “Cheat you into adding money but you can't withdraw funds, even a penny”. You may visit: https://www.wikifx.com/en/comments/detail/202101078132274501.html

Conclusion

　　Lack of transparency is a huge barrier for beginning traders. GoldForex is not a trusted broker because it is not regulated by a financial authority with strict standards. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.