• Minimum Deposit

    • 50-500
  • Leverage

    • 100:1
  • Regulation

    • LFSA -Labutan Financial Services Authority

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Full Breakdown

Full Breakdown
Minimum Deposit
Leverage
Regulation
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Overview

Golden Brokers Review 2022: What You Need To Know

Regulation and LicenseLabuan Financial Services
HQKuala Lumpur,Malaysia
Founding year2018
Leverage range1:100 max
Min deposit$100
Trading platformsMT5
Tradable instrumentsForex,commodities,indices
Demo accountYes
Base currenciesAUD CAD CHF EUR GBP NOK NZD
Customer support24/5(English,Russian)
Active clients-
Publicly tradedNo
CryptoNo
Websitehttps://goldenbrokers.my/

Golden Brokers Overview

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.

ProsCons
Over 700 financial CFD instrumentsswap
24/5 multilingual customer supportGolden Brokers inactivity fees
Fee-Free deposit and withdrawalsFairly 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 ProductionExamples
ForexEURUSD, EURJPY, GBPUSD
IndicesUS 30, UK 100, US 500
SharesGoogle, Facebook, Apple
CommoditiesGold, 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
golden brokers assets

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 mt5 platform

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
golden brokers free 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:

  1. Navigate to the Golden Brokers' website and click the ‘Open Live Account’ button on the homepage.
  2. Enter name, email, and phone.
  3. Follow the prompts to submit the other required information.
  4. Confirm your email address.
  5. Complete KYC.

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.

Below are the contact details:

● Email: support@goldenbrokers.my

● Phone: +60 154 877 0962

● Contact form on the 'Contact Us' page

● Social media accounts

Research Tools Offered by Golden Brokers

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.

Full Breakdown Filters

Full Breakdown

Full Breakdown
Minimum Deposit
Leverage
Regulation
Platforms
Currency Pairs
Execution Model
Contract Sizes
Spreads
Languages
Additional Filters

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