Goldenrodfx-Overview of Minimum Deposit, Leverage, Spreads

Note: Since Goldenrodfxs official site (https://goldenrodfx.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Goldenrodfx, a trading name of SANTI Goldenrod Ltd, is allegedly an unregulated, blacklisted and offshore forex broker registered in Seychelles that claims to provide its clients with over 250 tradable financial instruments with leverage up to 1:200 on the web-based trading platform, as well as a choice of four different account types.

Market Instruments

Goldenrodfx advertises that it offers more than 250 trading instruments in financial markets, yet no information about tradable asset classes is specified. However, from the name of the broker, we can easily get the knowledge that it may offer forex trading.

Account Types

There are four live trading account types offered by Goldenrodfx, namely Beginner, Advanced and Premium, as well as a Bitcoin Managed Account. The minimum initial deposit requirement to open an account is not available. Instead, the broker states that the Beginner Account has a maximum balance of $250, while the Advanced Account with $1,000, and the Premium Account is up to $2,000.

Leverage

A leverage ratio of up to 1:200 is offered by Goldenrodfx, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads

As tested at Goldenrodfxs demo web account, the spread for the benchmark EUR/USD pair was floating around 6 pips, which is much higher than those regulated brokers.

Trading Platform Available

The platform available for trading at Goldenrodfx is a web-based trading platform. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Customer Support

Goldenrodfx‘s customer support can be reached by email: support@goldenrodfx.com. Company address: Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.