GoldenCFD (Goldencfd.com) is a brutal CFDs and Forex scam offering insane promises but delivering Hell at the same time. Golden CFD is claiming to help users set themselves free thanks to their innovative platform. Is GOLDEN CFD able to deliver on their promise or is it another Forex scam. This GoldenCFD review will open trader’s eyes regarding their shady practices. Read this Golden CFD review and find out the truth.
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After receiving a compelling email from Rose who lost a substantial amount with Golden CFD, an investigation was underway. Details emerged on how many investors who have been conned by this broker are facing problems trying to make contact. What seems to be a genuine trading platform is turning out to be a rough ride in hell. This entire review is dedicated to exposing tricks used by this fake broker to steal funds from investors. Exposing them is the only way!
Landing on their homepage, it’s clear why newbie investors are falling for this broker’s trap. Thanks to our years of trading experience, we have a knack for spotting scams a mile away. Make sure you read this entire review and find out bag of tricks used to entice traders into signing up.
GoldenCFD is claiming to offer a safe and secure trading experience to all users who sign up. What they’ve done is purport to offer traders an opportunity to join a team of hard working professionals. A punch line is added, these professionals are focused on the success of your account. According to their about us page, their staff’s motto is based on the three Cs, Care, Commitment and Consistency. These scammers have clearly used a great sales tactic.
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Some of the advantages they claim to have MT4 trading platform and lightning fast execution. Other advantages on the list include tailored account solutions and advanced trading tools. Dear readers, scammers will do or say anything just to seek attention. And this is what GoldenCFD is after with their claims of having superior trading services. Make sure you read this entire review as we expose their illicit Forex practice.
To start us off, this broker is registered in St. Vincent and the Grenadines. What this means is GoldenCFD is an offshore broker which makes it untrustworthy. Disclaimer at the bottom of their homepage claims Pro Star is the company behind this platform. A look at the registrar of companies tells a different and shocking story.
Legal page also fails to offer any meaningful details as to whether GoldenCFD is fully compliant. Lack of proper licensing and registration details confirm what we had initially feared, Golden CFD is unlicensed. What this means is the broker in question is operating under false pretense. There’s no regulatory body which has issued Golden CFD with a green light to operate.
GoldenCFD is using MT4 trading platform as their preferred tools of trade. In order to test how well their platform works, we had to download it on our devices. Although the homepage claims users don’t have to download it, there’s a download option. And this is where we faced another hurdle with Golden CFD. Download could not complete as it stalled at around 11%. This means traders are using an unstable platform.
Unstable platforms are dangerous to any trader since they leave them open to attacks. Hackers have been targeting unstable platforms for data harvesting. Most of the data they target include credit card information and identity documents. With these documents, a hacker can easily purchase goods and services using your credit card. Ensure you stay away from any broker who has unstable platforms. Being a victim of a fake broker sucks, a victim of hacking is sickening.
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GoldenCFD is rendering four different account types for users to choose from. These account types include Classic, Gold, Platinum, and VIP. In order to start trading with these accounts, a certain minimum deposit is required. $1,000 classic accounts, $10,000 and $25,000 for gold and platinum accounts. VIP account holders are required to make a minimum deposit of $100,000 to start trading. Industry set acceptable minimum deposit is $250; this broker goes above and beyond.
Most of these accounts have the same advantages which is a problem. Why would a trader deposit $25,000 and get the same features as a member who deposits $5,000? This broker goes ahead and offers other account types different from the ones mentioned above. MAM Account and IB accounts are also made available for anyone interested. Just ignore these accounts as depositing money is what these brokers are after.
A broker who fails to issue banking documents and contracts is operating illegally. Where do they bank money deposited by investors? Investigation reveals traders are depositing money straight to owner’s personal bank account. Stay clear from this broker.
Account segregation is not their concern, which is a must for any legit broker. This means GOLDENCFD is pooling funds in one account which is extremely dangerous. In case of bankruptcy or insolvency, this broker will lose all deposits in an instant. Users should never expect any compensation from this broker. Golden CFD does not participate in any compensatory scheme. This proves the broker in question is a fraud.
To add salt to injury, this broker is enticing users by using a rigged demo account. A rigged demo account produces fake results with over the moon win rates. Anyone who signs up with their demo account ends up making over 97% successful win trades.
After going through evidence we uncovered, its clear GoldenCFD is a scam. Make sure you warn your family and friends from signing up with this broker. Mark all their emails as Spam and never click on any links sent by their email marketing team. Hackers have been using these links to steal personal data from computers. Stay away from any broker who is unregulated and is based offshore.
To ensure that investors and our readers remain safe, we have to add this broker to our scam list. With this, relevant authorities can investigate and shut down this platform. This is the only way to protect newbie traders from signing up with this fake broker. Stay away from this broker and ignore calls from their marketing agents. Remember to not give out your personal data on any of their platforms. Stay clear at all times from these scammers.
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Wishing you all the best in your Future trading experience.
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