Golden Brokers Ltd Review

Golden Brokers Ltd Video Review

Investor Protection & Regulations

Golden Brokers Limited is a money broker authorised and regulated by the Labuan Financial Services Authority (LFSA).

Golden Brokers Limited is a money broker authorised and regulated by the Labuan Financial Services Authority (LFSA), as shown on the regulator’s register below:

Golden Brokers provides further security of client funds by holding funds in a segregated account from company funds and by employing a stop protection policy that will liquidate any open positions when the margin level is less than 50%.

The broker does have a second entity also under the name of Golden Brokers Limited which is regulated by the Vanuatu Financial Services Commission (VFSC), however, this entity is not the subject of this review.

Tradable Products

Golden Brokers offers clients the ability to trade on more than 700+ financial instruments covering Forex, Shares, Indices and Commodities.

Golden Brokers offers clients the ability to trade on more than 700+ financial instruments covering Forex, Shares, Indices and Commodities. Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the Golden Brokers website and trading platform and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the account type opened and instrument being traded and are covered further down this review.

Account Opening

Golden Brokers offers a single live account that allows clients to access over 700+ financial instruments. They also provide a free demo and Islamic (swap-free) account.

Golden Brokers offers a single live account that allows clients:

• 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.

The broker also provides access to a free demo and Islamic (swap-free) account. It should be noted that the Islamic account is only swap-free for 20 calendar days and any positions held open for longer than this will incur swap charges as normal.

Users can open a new account in just a few steps. After clicking the ‘Open Live Account’ button on the broker’s homepage, users are asked to register with their name, email and phone. Following this, users will be directed to the client portal where they will be required to fill in additional information including:

1. Personal Information: Date of birth, place of birth, nationality and tax domicile.
2. Address: Residential address and country.
3. Income: Annual income, total net worth and source of income.
4. Activation: Confirm email address to activate account.
5. Document Verification: Proof of identity (passport or driving licence) and proof of residence (utility bill or bank statement – not more than 3 months old).

The client portal area is shown below:

The broker does not accept clients in Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosnia and Herzegovina, Malaysia, Iraq, Lao People’s Democratic Republic, Syria, Uganda, Vanuatu, Yemen and EU residents.

Deposit & Withdrawals Options

Golden Brokers offers a variety of deposit and withdrawal methods including debit/credit card, bank transfer, Neteller, Skrill and more but could do with more transparency on fees and processing times.

Golden Brokers offers a variety of deposit and withdrawal methods including debit/credit card, bank transfer, Neteller, Skrill and more. The broker does not state any associated fees or processing times.

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

Golden Brokers offers clients the ability to trade on the globally recognised MetaTrader 5 platform for Windows and Web.

Golden Brokers offers clients the ability to trade on the globally renowned MetaTrader 5 platform for Windows and Web. The platform features are highlighted below:

Golden Brokers WebTrader

• Various Order Types.
• Trade multiple asset classes.
• Great range of technical tools and indicators.
• Can use on PC or Mac.

Golden Brokers MetaTrader 5 Desktop

• Fully customisable.
• Multiple technical tools.
• One-click trading.
• Trading Signals.

A screenshot of the Golden Brokers MetaTrader 5 desktop platform is shown below and is covered in more detail in the video review:

Mobile Trading Platforms

Golden Brokers offers users the ability to access mobile trading on the go from the Golden Brokers mobile trading app and the MetaTrader 5 mobile app for Android and iOS systems.

Golden Brokers offers users the ability to access mobile trading on the go from the Golden Brokers mobile trading app and the MetaTrader 5 app for Android and iOS systems. Both app download links can be found in the Google PlayStore or Apple AppStore.

The Golden Brokers mobile trading app provides a range of different features including:

• Trade and manage your account on the go.
• Multiple asset classes.
• Real-time quotes.
• User-friendly dashboard.

The Golden Brokers mobile trading app is covered in more detail in the video review.

Trading Features

Golden Brokers does not provide any additional trading features other than what is already available through the MetaTrader 5 platform.

Golden Brokers does not provide any additional trading features other than what is already available through the MetaTrader 5 platform. Although, clients who are using the MetaTrader 5 desktop platform can access the MetaTrader marketplace to access thousands of additional trading tools and strategies.

Commissions & Spreads

Golden Brokers offers commission-free trading on Forex, Commodities and Indices but Share trading is commission-based. The broker does charge high swap rates.

Golden Brokers offers commission-free trading on Forex, Commodities and Indices but Share trading is commission-based. The average spreads and commissions for a selection of markets is shown in the below table:

The broker does charge high swap rates. At the time of writing, EUR/USD rates show -32 for long positions and -27 for short positions. All swap rates can be found on the MetaTrader 5 platform.

For Non-Islamic accounts, overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

There is a $100 inactivity account fee after 12 months of no trading activity.

Bonus & Promotions

Currently, there are no bonus or promotions advertised on the broker’s website.

Customer Support

Golden Brokers offers multilingual 24/5 customer support via email and phone. There is also a contact form on the ‘Contact Us’ page of the broker’s website.

Golden Brokers offers multilingual (English, Russian, Vietnamese, Arabic, Spanish) 24/5 customer support via email and phone. There is also a contact form on the ‘Contact Us’ page of the broker’s website.

Contact Information:

• Address: Level 14 (B) & 14 (C), Main Office Tower Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan, Malaysia.
• Email: support@goldenbrokers.my
• Phone: +60 154 877 0962
• Social Media:
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube

Research

Golden Brokers offers comprehensive research including Daily Market News, Technical Analysis Articles, Weekly Reviews and an Economic Calendar.

Golden Brokers offers comprehensive research including Daily Market News, Technical Analysis Articles, Weekly Reviews and an Economic Calendar. A summary of the main research available is given below:

• Daily Market News: News articles covering the most important events and stories covering equity, commodity and currency markets. The articles also include a detailed economic and technical outlook for the day.
• Technical Analysis: Daily intraday technical analysis articles that include price levels and targets for currency markets.
• Weekly Reviews: Covers a recap of the previous week that includes US stock market performance, indices performance, commodity performance, market-moving news and important macro data and events.

Further, users can also access the economic calendar to keep up with current and future data releases.

Trader Education

Golden Brokers offers various educational material that includes articles on Trading Platforms, Instruments, CFD, Leverage and more.

Golden Brokers offers various educational material that includes articles on Trading Platforms, Instruments, CFD, Leverage and ‘What is Forex’. The content is detailed but it is mainly suitable for beginners who are starting their trading journey.

Trading Experience

Golden Brokers provides clients access to over 700+ financial instruments across Forex, Shares, Indices and Commodities, all through the globally renowned MetaTrader 5 platform for Windows, Web and Mobile.

From our observations, Golden Brokers provides a simple trading offering for beginner traders, allowing them to access over 700+ financial instruments covering Forex, Shares, Indices and Commodities, all through the globally renowned MetaTrader 5 platform for Windows, Web and Mobile.

Although the broker only offers a single account type, clients can open multiple sub-accounts with ease from the client portal. Additionally, trading is commission-free for Forex, Indices and Commodities but is commission-based for Share trading. There are also high swap rates that clients should be aware of.

The broker does provide comprehensive research which features high-quality articles that are also updated regularly.

FAQ

Is Golden Brokers regulated?

Golden Brokers Limited is a money broker authorised and regulated by the Labuan Financial Services Authority (LFSA).

Where is Golden Brokers based?

Level 14 (B) & 14 (C), Main Office Tower Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan, Malaysia.

How does Golden Brokers make money?

Golden Brokers makes money mainly through spreads, commissions and swaps on certain asset classes.

How do I deposit in Golden Brokers account?

Funds can be deposited via debit/credit card, bank transfer, Neteller, Skrill and more.

What is the min. deposit for Golden Brokers?

The minimum deposit is $100 to open an account.

How do I withdraw money from Golden Brokers?

Withdrawals can be made from the client portal via debit/credit card, bank transfer, Neteller, Skrill and more.

What is the max leverage in Golden Brokers?

The max leverage available is 1:100.

How do I open an account with Golden Brokers?

An account can be opened at the click of a button on the Golden Brokers website and can be done in just a few steps.

Does Golden Brokers use MetaTrader?

Yes, MetaTrader 5.

Conclusion

Golden Brokers Limited is a money broker authorised and regulated by the Labuan Financial Services Authority (LFSA). The broker provides clients the ability to trade on over 700+ financial instruments covering Forex, Shares, -Indices and Commodities.

Golden Brokers Limited was founded in 2018 and is a money broker based in Malaysia. It is regulated by the Labuan Financial Services Authority (LFSA) and offers clients the ability to trade on more than 700+ financial instruments covering Forex, Shares, Indices and Commodities.

Clients can open a live, demo or Islamic (swap-free) account with ease and can trade from one of the most globally popular trading platforms MetaTrader 5, for Windows, Web and Mobile. The broker also offers its own proprietary mobile trading platform for Android and iOS systems.

Clients have a variety of deposit and withdrawal options including debit/credit card, bank transfer, Neteller, Skrill and more. There is a great range of research articles available and the content is high-quality and regularly updated but the educational material is limited and is mostly suitable for beginner traders only. The broker also offers multilingual 24/5 customer support via phone and email.

• Commission-free trading available (excluding shares).
• 700+ financial instruments.
• MetaTrader 5 available.
• 24/5 multilingual customer support.