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Score

1.55 /10
Danger

GB

Cyprus

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Cyprus Straight Through Processing(STP) Revoked

High potential risk

http://goldenburggroup.eu

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Comparison

Quantity 2

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.32

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

CY CYSEC
2022-11-03
WARNING
GB
Winnex Consulting
RoboticsForex
Onecapital Invest

Broker Information

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Company Name

Goldenburg Group Limited

Company Abbreviation

GB

Platform registered country and region

Cyprus

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • CyprusCYSEC (license number: 242/14) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
GB · Company summary

Note: GB's official website - https://goldenburggroup.eu/ is currently inaccessible normally.

GB Review Summary
Founded/
Registered Country/RegionCyprus
RegulationCySEC (Revoked)
Market InstrumentsForex currency pairs, shares, commodities, and indices
Demo Account/
Leverage/
Spread/
Trading PlatformMT5
Min Deposit/
Customer SupportService time: Mon-Fri, 8 AM to 5 PM PST
Tel: +357 25349815
Email: info@goldenburggroup.eu
Address: 46 Ayios Athanasios, Interlink Hermes Plaza, 4102 Limassol, Cyprus

Goldenburg Group Limited (GB) is a broker registered in Cyprus. It uses MT5 as its trading platform, and it mainly focuses on the forex currency pair, share, commodity, and indice markets. However, this company is currently not regulated, and its official website is inaccessible. In view of that, the potential risks are rather high.

Pros and Cons

Pros Cons
Various tradable instrumentsInaccessible website
MT5 providedLack of valid regulation
Limited information about trading details
High deposit fees charged

Is GB Legit?

No, GB's Cyprus Securities and Exchange Commission (CySEC) license was revoked. Please be aware of the risk!

Regulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.
Cyprus Securities and Exchange Commission (CySEC)RevokedCyprusStraight Through Processing (STP)242/14
Revoked CySEC license

What Can I Trade on GB?

GB claims to offer several types of products, including forex currency pairs, shares, commodities, and indices.

Tradable Instruments Supported
Forex Currency Pairs✔
Commodities✔
Indices✔
Shares✔
Cryptos❌
Bonds❌
Options❌
ETFs❌

Trading Platform

GB uses MT5 as its trading platform, which is suitable for experienced traders.

Trading PlatformSupported Available Devices Suitable for
MT5✔Web, PC, MobileExperienced traders
MT4❌/Beginners

Deposit and Withdrawal

GB charges a research fee which can be up to $200, and this is rather high. Apart from that, other details such as the minimum deposit or withdrawal, the processing time, and accepted currencies, are not clear.

Deposit and Withdrawal 1
Deposit and Withdrawal 2

News

NewsCySEC decided to impose a fine of €400.000 on CIF Goldenburg Group Ltd.

The Cyprus Securities and Exchange Commission (CySEC) has recently taken decisive action against CIF Goldenburg Group Ltd (LEI 2138009UJX646ZT32817), a financial services firm, for serious violations of the Investment Services and Activities and Regulated Markets Law of 2017 and the Regulation (EU) 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs).

WikiFX
2023-07-26 17:16
CySEC decided to impose a fine of €400.000 on CIF Goldenburg Group Ltd.
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Guo®
more than one year
Absolutely terrible experience with GB. Unable to withdraw funds, deceived out of 80,000, no response from account manager, unreachable support for trade-related concerns, and constant login issues. My funds are frozen, and communication is nonexistent. Stay away from this forex broker!
Absolutely terrible experience with GB. Unable to withdraw funds, deceived out of 80,000, no response from account manager, unreachable support for trade-related concerns, and constant login issues. My funds are frozen, and communication is nonexistent. Stay away from this forex broker!
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2023-12-28 14:25
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