Golden Royal Index was founded in 2010 in Saint Lucia, offering trading in forex pairs, metals, futures, and shares with a minimum deposit requirement of $500 and leverage up to 1:500 through the MT4 platform.
However, this broker lacks regulation and does not provide services to residents of certain countries, such as the United States of America, Canada, Israel, and the Islamic Republic of Iran.
Pros and Cons
Golden Royal Index is completely unregulated by any legal institution. When accessing its website, we even received a warning that it is an unsafe website and have been prohibited from accessing it. This is a clear sign that this broker may be a scammer and could potentially cheat you out of your assets.
What Can I Trade on Golden Royal Index?
Golden Royal Index offers access to over 120 currency pairs, encompassing majors, minors, and exotics, along with spot metal CFDs in gold (XAU) and silver (XAG) priced in USD and EUR. Additionally, it provides access to futures and shares.
Account Type
Golden Royal Index offers three live account types. The Micro account starts with a $100 minimum deposit, allowing you to test trading strategies without high risk and capitalize on market opportunities. The Standard and Premium accounts have minimum deposits set at $500 and $15,000 respectively.
In addition, a free demo account is available on MT4 for honing your trading skills in a risk-free environment.
Leverage
Golden Royal Index provides leverage as high as 1:500, a level considered high and often restricted by many countries. In addition, the lack of regulatory oversight for Golden Royal Index makes it prudent to refrain from trading with this entity at such a risky leverage level.
Spread
Golden Royal Index boasts spreads as low as 0 pips for EUR/USD, which is competitive within the industry. However, despite its competitive spreads, it is prudent to steer clear of trading with an unregulated broker like Golden Royal Index.
Trading Platform
Golden Royal Index offers the MT4 trading platform, with versions available for iPhone, iPad, Android, and web. However, it remains uncertain whether this unregulated broker has obtained the necessary trading permission or authorization from the MT4 platform.
Deposit and withdrawal
Methods: Golden Royal Index supports a variety of deposit and withdrawal methods, including Bank Wire, Credit/Debit Card, Moneybookers, Bank Transfer/Wire, Local Bank Transfer (for non-Australian banks), and Webmoney.
Fees: Golden Royal Index claims to impose no fees for deposits or withdrawals. However, international telegraphic transfer fees are passed onto the customer. The international telegraphic transfer fees are often approximately AUD 20.
Processing Time: Withdrawals via bank wire typically take 3-5 business days to reach your account.
2023-03-03 16:33
