Golden Brokers is a money broker headquartered in Kuala Lumpur,
Malaysia. The broker started its business operations in CFD trading in 2018 and
has so far expanded to various jurisdictions around the globe. Golden Brokers
enables its clients to trade over 700 financial CFD instruments across major
products, such as forex, commodities, indices, and shares.
Trading at Golden Brokers is done through the industry's favorite
MetaTrader 5 platform. The broker's clients can trade using the platform's
desktop, web terminal, or mobile apps (available for iOS and Android). Golden
Brokers provides its clients globally with the opportunity to master markets
and stay updated via the research materials, which are high-quality and
regularly updated.
Pros
Cons
Over 700 financial CFD instruments
swap
24/5 multilingual customer support
Golden Brokers inactivity fees
Fee-Free deposit and withdrawals
Fairly low maximum leverage
Stop protection policy
Commission-free trades on indices,commodities and FX
The broker at the time of writing this review doesn't offer
cryptocurrency trading and has a minimum deposit of $100. This Golden Broker's
review will cover all the relevant information that impacts a trader's
experience with the broker. These details include regulatory status, customer
support availability, tradable markets, the process for opening an account,
fees, and more.
Golden Brokers Safety Review
Golden Brokers Limited is authorized and regulated as a money broker by
the Labuan Financial Services Authority (“LFSA”) with license number
MB/19/0030. The brokers' headquarters is in Kuala Lumpur, Malaysia.
Golden Brokers offer additional security for their clients' funds by
separating client funds from the company's funds. Another great aspect of
trading with Golden Brokers is that they employ a stop protection policy which
closes any open trade positions whenever the margin level falls below 50%.
Risk Warning: Speculative trading is risky. When using leverage, traders risk
losing more than their initial investment, and past performance does not
guarantee similar results in the future. Golden Brokers Limited is not liable
for any loss, whether partial or total, resulting from a client's trading
activities.
Golden
Brokers Fees
Trading and non-trading fees greatly impact the profitability of
successful trades. The Golden Brokers' client agreement states that the broker
doesn't charge any fees on deposits and withdrawals. If a trader incurs any
costs when depositing or withdrawing funds from the brokers' platform, they
should confirm the transaction costs their financial services provider
deducted.
Golden Brokers' traders are charged a $100 inactivity fee if their
trading accounts remain inactive after twelve months. According to the client
agreement, inactivity means there are no trades, deposits, or withdrawals
within that period of time. It's worth mentioning that the broker can deduct
such fees from the trader's trading account.
Golden Brokers Spread Overview
Who doesn't like commission-free trades? Golden Brokers offers their
clients commission-free trades on forex, commodities, and indices. However,
trading shares attract a commission of 0.5% of the trade volume (or at least
$20 per trade).
The spreads on Golden Brokers are quite high and depend on the asset
class. Commodities start at 0.1 pips, indices two pips, and FX three pips for a
commonly traded currency pair like EUR/USD.
Golden Brokers Swap Rates
Swap rates are worth checking out because they greatly impact the
amount of profits traders collect. These are the fees charged on a trading
account for positions that are active overnight. Compared with the average
industry rates, Golden Brokers' swap rates are slightly higher. When writing
this review, the swap rates for EUR/USD, which is one of the most popular
currency pairs, were -32 for long positions and -27 for short positions.
Traders can verify the swap rates for different assets on the Golden's MetaTrader
5 platform.
Golden Brokers Deposit and Withdrawal
When it's time to
collect profits, no one wants to wait for days and suddenly discover they can't
get their money. That is why it's important to double-check all the withdrawal
conditions a broker sets in place. Knowing the accepted payment methods for
easier and faster depositing of funds is also a good idea.
Deposit and Withdrawal Methods
Traders on the Golden Brokers platform can
deposit and withdraw their funds in a number of ways. These accepted payment
methods include
●
Debit or credit card
●
Bank wire transfer
●
Neteller
●
Skrill
Minimum and Maximum Deposit and Withdrawal
The minimum deposit for Golden Brokers'
traders is 100 USD. The broker's website and client agreement don't state the
minimum and maximum amounts that traders can withdraw at any given time.
Golden Brokers Tradable Markets
and Products
Every trader has
their set of favorite financial products that they understand well and can
trade in confidently. While brokers try to offer the maximum possible CFD
instruments, certain factors limit what they offer to a trader, for instance,
the client's jurisdiction.
Golden Brokers
provides its clients with access to trade on a wide range of financial
instruments covering forex, shares, indices, and commodities.
A detailed list of markets and asset classes
available for trading at Golden Brokers is accessible from their website, but
here are a few examples:
Tradable Markets and Production
Examples
Forex
EURUSD, EURJPY, GBPUSD
Indices
US 30, UK 100, US 500
Shares
Google, Facebook, Apple
Commodities
Gold, SIlver, WTI
Golden Brokers Leverage Offered
Leverage is a great but also risky tool for
CFD traders. It offers the opportunity to multiply profits if trades go as
anticipated or losses if trades go in the opposite direction. Regardless of the
trading experience, traders should use leverage in a calculated manner and
consider their risk profiles.
Golden Brokers provides relatively fair
leverage of up to 1:100 for every trade.
Disclaimer: Trading speculative financial markets put the initial capital
investment at risk due to leverage and market volatility.
Available Golden Brokers Trading
Platforms and Tools
Trading at Golden Brokers is done through the
market-leading platform, MetaTrader 5 platform. The MT5 platform is popular and
widely used in the financial markets industry. It is user-friendly and features
rich features which make it ideal for inexperienced and seasoned traders. MT5 is accessible via the web, mobile apps, and
desktop apps. Here is a closer look at the Golden Brokers' MT5 platforms.
1.
The Golden Brokers' MT5 WebTrader
Golden Brokers MetaTrader 5 WebTrader is
perfect for traders who prefer to trade without downloading apps or software.
It allows users to trade via a web browser terminal. With the MT5 WebTrader,
traders can access all the major features of the platform, for instance,
various order types, multiple asset classes, and technical tools and
indicators.
2.
Golden Brokers' MT5 Terminal for
Desktops
The Golden Brokers' clients who like desktop
apps can use the MT5 terminal for desktops. They must download the appropriate
version for either Mac or Windows on the broker's website. Just like WebTrader,
the desktop app is also feature-rich. Some of the notable features include
trading signals, one-click trading, and various technical tools.
3.
MT5 Mobile Trading platforms
A platform cannot be complete without being
compatible with mobile devices. Golden Brokers' MT5 mobile trading apps are
suitable for traders who want to manage their accounts on the go. The app has
the full capability of a trading platform, including accessing multiple asset
classes and placing trade orders.
Golden Brokers Account Types
With Golden Brokers, traders have access to
the following accounts:
●
Demo account
●
One live trading account
●
Islamic account
Demo Account
The free demo account allows traders to
practice their trading strategies and understand the markets while using
virtual cash. Golden Brokers offer $100k virtual cash. The demo account is not
perfect for new traders only. Seasoned
traders who haven’t used the MT5 platform before can acquaint themselves with
the tools and functionalities before trading in a live account.
Live Trading Account
The live trading account gives users access to
the global financial and live trading features. The account comes with many
features, including:
●
Access to over 700+ financial CFD
instruments.
●
Account leverage of up to 1:100.
●
A minimum deposit of $100.
●
Ability to open multiple
sub-accounts.
Islamic Account
Golden Brokers' traders can trade swap-free on
overnight positions for an average of 20 calendar days. This is possible thanks
to the Islamic account. However, swap fees are applied to the Islamic account
just like a regular live account for any trade positions held for more than 20
calendar days.
Golden Brokers Account
Registration
Users from eligible countries can create a
Golden Brokers live trading account in a matter of minutes. Below are the steps
to follow:
Navigate to
the Golden Brokers' website and click the ‘Open Live Account’ button on
the homepage.
Enter name,
email, and phone.
Follow the
prompts to submit the other required information.
Notably, Golden Brokers does not allow customers
from the following countries: Afghanistan, Cuba, Crimea, Israel, Sudan, North
Korea, Ethiopia, Iran, Bosnia and Herzegovina, Malaysia, Iraq, Lao People's
Democratic Republic, Syria, Uganda, Vanuatu, Yemen, and inhabitants of the EU.
Golden Brokers' Customer Support
Golden Brokers offers customer assistance five
days a week, around the clock. The broker provides multilingual help in
Spanish, Vietnamese, Arabic, English, and Russian. Clients usually reach out
through email and phone calls.
When it comes to market research, Golden
Brokers provides a comprehensive research package. The materials include
●
Daily Market News: The latest recent news and
developments from the financial markets are covered in this area.
●
Weekly Reviews: This part serves as a summary
of the preceding week's events, covering market activity and important news
stories that have an impact on the markets.
●
Technical Analysis: The articles in this
section discuss price goals and levels for currency markets.
Educational Tools Offered by
Golden Brokers
The training resources offered by Golden
Brokers are rather extensive and cover topics including trading platforms,
instruments, CFDs, leverage, and an overview of forex. Despite being thorough,
the content is geared primarily toward people just beginning their trading
careers.
Golden Brokers Awards
At the Forex Traders Summit in Dubai, Golden
Brokers received two awards. There are two prizes:
●
Best customer service
●
Fast-growing forex broker
Golden Brokers Review Final
Thoughts
Golden Brokers is relatively new but is
certainly a fast-growing online broker. The commission-free trades on forex,
commodities, and indices are attractive and traders appreciate the wide range
of CFDs across major financial markets.
The availability of a demo account, thorough
research materials, and educational content makes the broker suitable for
different levels of traders, beginners, intermediates, and professionals.
Seasoned traders will certainly find the 1:100 maximum leverage attractive.
Trading is done on the powerful MT5 platform which is accessible on mobile
devices, Mac, PC, and web browsers. However, the brokers' minimum deposit of
$100 may be a bit higher for some traders, especially those starting out with
CFD trading.
FAQ
Is Golden Brokers regulated?
Golden Brokers Limited is licensed and
regulated by the Labuan Financial Services Authority, registered MB/19/0030.
Licensing means the company must follow certain industry rules and regulations
that secure clients' accounts and funds.
Does Golden Brokers offer a bonus?
At the time of writing this Golden Brokers
review, there are no featured bonuses or promotions on the broker's website.
Clients can check the broker's website regularly and grab the bonuses if they
ever come up.
Does Golden Brokers use
MetaTrader?
Golden Brokers use the MetaTrader 5 platform
for its trade activities on mobile devices, Mac/PC, and web browsers.
What is the max leverage in
Golden Brokers?
The max leverage available is at Golden
Brokers' 1:100. Traders of all risk profiles and experience levels should use
leverage cautiously as it can magnify both profit and loss.
How do I open an account with
Golden Brokers?
Anyone can open a Golden Brokers account at
the click of a button on the Golden Brokers website. However, the broker
doesn't offer services in some jurisdictions like Afghanistan, Cuba, Crimea,
Israel, Sudan, North Korea, and Ethiopia. The next step is to follow all the
steps to complete the registration process and access the trading platform.
How do I deposit money into a
Golden Brokers account?
Funds can be deposited in Golden Brokers'
traders' accounts via debit/credit card, bank transfer, Neteller, and Skrill.
Where is Golden Brokers based?
Golden Brokers' headquarters is based in
Labuan, Malaysia. Here is the full contact address for Golden Brokers:
Level 14 (B) & 14 (C), Main Office Tower
Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan, Malaysia.
How long does it take to withdraw money from Golden Brokers?
The brokers' website and client agreement
don't mention how long it takes to withdraw money from Golden Brokers. Usually,
transaction timelines rely heavily on the financial services provider like a
bank.
Is Golden Brokers safe?
While Golden Brokers Limited has been in
operations for a few years, they seem safe to trade with. However, clients
would feel safer trading with them if Golden Brokers were more transparent on
different issues like withdrawal conditions and payment options.
On the brighter side, Golden Brokers maintains
separate bank accounts for client funds and company funds.
Does Golden Brokers accept PayPal?
Unfortunately, Golden Brokers does not support
the use of PayPal. It, however, accepts Mastercard and Visa. Clients can
withdraw and deposit using:
●
Skrill
●
Credit/Debit Cards
●
Neteller
●
Bank wire transfer
What type of broker is Golden Brokers?
Golden Brokers Limited is licensed and
regulated as a money broker by the Labuan Financial Services Authority, LFSA.
What types of accounts are available on Golden Brokers?
Golden Brokers offers one type of trading
account. There is no categorization of trading accounts as with other brokers.
So, the one live trading account comes with all the necessary features like
access to over 700 financial instruments. Users can also register for a demo
account to acquaint themselves with the company's trading platform and master
trading skills. There's also the option of an Islamic account which is
swap-free.
What is the minimum Deposit for Golden Brokers?
To trade with Golden Brokers, traders need to
deposit a minimum of $100. This minimum deposit is not outrageous, but It's
significantly higher than most competitive brokers who require anything from
$10.
How does Golden Brokers work?
Golden Brokers clients can access over 700+
financial instruments through a single live account. All that clients need to
do is:
●
Register with Golden Brokers
●
Fund their trading account with
the minimum deposit or more
●
Choose the right MT5 trading
platform depending on device and convenience
●
Place orders and start trading.
What is Golden Brokers all about?
Golden Brokers Limited is a Labuan-based
company that allows its clients to trade CFDs on forex, commodities, indices,
and shares. Golden Brokers' trading platform is MT5.
Is Golden Brokers trustworthy?
From this review, Golden Brokers Ltd is a
growing broker and may have a long way to go to prove its trustworthiness.
First, the broker is licensed and regulated by the LFSA, but they could add
more international regulatory bodies to their regulatory status.
One of the great aspects of Golden Brokers is
that they separate client funds from the company funds. This is a great step in
securing client funds.
Is Golden Brokers legit?
So far, Golden Brokers are legit. Prospective
traders should always remember that trading CFDs is highly risky and they could
lose more than their initial investment if the trade goes against the trader.
Is Golden Brokers a good forex broker?
Golden Brokers provides its clients with the
ability to trade more than forex. Clients can trade 700+ financial CFD
instruments in FX, indices, commodities, and shares via a single live account.
The broker uses the vastly used MT5 platform, which is great for both beginners
and seasoned traders.
Which FX Currency Pairs Does
Golden Brokers Offer?
Golden Brokers offers more than 60 forex
instruments for traders to choose from. The selection includes major, minor and
exotic pairs. Examples of the available pairs include EUR/CAD, GBP/CHF, and
USD/JPY.
How Can I Contact Golden Brokers
Customer Support?
Golden Brokers clients can seek help and
support via email or telephone. Clients can also try to reach the Golden
Brokers support team through one of their social media handles, Twitter,
Instagram, Facebook, or LinkedIn.
What kinds of trading platforms are available to customers of
Golden Brokers?
Golden Brokers Ltd. uses the MetaTrader 5
platform. The broker provides the trading platform to its customers as a
web-based, mobile, and desktop-based app. It's fairly easy to use, has a
user-friendly interface, and is very safe. Both inexperienced and seasoned
traders have an easy time with the platform.
What steps do I need to take to start trading with Golden
Brokers?
To start trading with Golden Brokers, the
first step is to visit the broker's website and click the 'Create Live Account
' button. Then follow all the steps to submit the required information and
documents. Once done, verify the submitted email address, log in to the
platform and fund the trader's account with the minimum balance or more. That's
it. Anyone who's from an eligible country can sign up within a few minutes.
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