Safe Gold FX Review: Is Scam or Safe?

Safe Gold FX Review: Is Scam or Safe?

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Safe Gold FX, also a famous name known as SGFX, is a Forex brokerage platform it has been in the market since September 2016. The company is privately registered, and there is no information regarding who is its owner.

The Forex brokerage has MetaTrader4, which is most compatible with mobile phone and desktop. Apart from Forex trading services, the platform also trades indices, CFDs, currencies, and commodities.

Safe Gold FX  has several advantages that investors can enjoy. It has fixed spread and several educational tools at the disposal of their clients. In this review, we will feature both the pros and cons of the Forex brokerage without being bias.

The least amount of funds that you can deposit in this Forex company is $100. The only method that is available for cashing in is a bank wire. The company would at least avail various options that investors can use to cash in and not extremely limit them.

Safe Gold FX Review

The Forex brokerage is dealing with various assets. It is ideal for CFDs traders and other multiple investors. They have over ten currency pairs, silver, gold, natural gas, crude oil, crude oil, indices, energies, among others.

However, they do not offer cryptocurrency investment services. It will also be an added advantage if they increase their currency pairs. The company is also offering a demo account that investors can use to familiarize themselves with the platform. The report is entirely free, and you have nothing to lose.

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Safe Gold FX Review, Platform

Safe Gold FX offers an educational opportunity for their clients. It has a convenient learning section that is on their platform. When you visit that area, you will learn more about what they are providing. They explain the fundamental analysis, profit and loss, trading signals, technical analysis, expert advisors (EAs), and other important information regarding the Forex market.

Knowledge is an important aspect and proves that the platform is after the well-being of investors. The company has both a margin profit and loss calculator that investors can use to ensure they are on the right track. All the trading tools, educational opportunities, and MT4 are essential aspects that set them apart from other Forex brokerages.

However, they do not have any promotions or bonuses as per the time of this writing. It is not something that all Forex brokerage offers. Nonetheless, you might get lucky, so keep checking out their website. There are other legit Forex trading platforms in the industry. Additionally, always ensure that you read the term and condition before engaging and be careful when a deal seems too good to be true.

Trading Account Type

SGFX is a company that has only one trading account, which is the standard. Unlike other legit Forex trading platforms that have multiple investment accounts, this one is exceptional. The spread that the brokerage is offering is fixed. The traders can set the trading cost and leverage.

Having a single account can be viewed as both an advantage and a disadvantage. With many available investment plans, users can select what suits their needs. However, one account will follow one monotonous rules. You have nothing to compare the package. Traders might end up settling for something that does not favor their trading style.

Nonetheless, the brokerage might be suitable for novice investors in the sense that they won’t suffer from confusion. The expert trader might look for something different and sophisticated. All investors who trade using Safe Gold FX Will have to use a similar account.

MetaTrade4 Platform

Safe Gold FX Is a company that is utilizing the MT4 trading platform. The majority of the Forex traders prefer the interface, which is common and very popular. The interface is compatible with numerous gadgets you can install it on your PC, mobile, or tablet.

The MT4 has numerous advantages like it has a user-friendly interface, charts, features that are easy to customize, technical indicators, and it also has a very high-performance speed. Additionally, the platform can capture pending orders with ideal prices. Any Forex trading company that has this feature is an added advantage for them as many investors might choose it as their investment venture.

Leverage and Spread

Safe Gold FX does not offer much leverage. You can enjoy 1:100, which is not much when you compare with other Forex brokerages in the industry. However, high leverage always translates to higher risks.

Most professional investors will see the brokerages as ideal, especially if they are trading on safer ends. The company is favorable for newbies traders who might even prefer lower leverage than this. Nonetheless, the Forex brokerage is not suitable for traders who have a high appetite and enjoy taking risks.

We feel that the leverage cup is not satisfactory, and they would at least try making it higher to suit everyone’s needs. In the meantime, if you want to take a higher risk, it is best that you find other Forex trading companies to trade with.

Safe Gold FX is offering investors a fixed spread of 5 pips. Such a range can be favorable for many investors because it stays constant even when the market fluctuates. You can predict your returns, unlike when you trade using floating spread.

Unfortunately, SGFX is charging higher than other Forex companies, and they might not be affordable for all types of investors.

Trading Costs and Sizes

Safe Gold FX is charging a commission of $50 for each standard lot. The company also has a calculator that you can use to know the swap fee if you intend to leave your trade open during the night.

We find that the platform is transparent and legit, unlike the Ponzi scheme in the industry, which only wants to steal investors’ money by making them trade with an unregulated Forex brokerage.

The company does not avail a lot of information when it comes to the information regarding their stop loss and maximum trade levels. Investors who like small increments might not find the platform ideal as they don’t allow micro trading lots. It is always good to check before you invest your money since it is not all Forex brokerage in the market who offer this feature.

Additionally, the platform has a margin calculator tool that might be helpful to their clients. You can use it to determine the margin that you will require to set up an execution. However, it would have been better if Safe Gold FX specified their stop loss, margin, and maximum trade sizes in detail.

Regulation and Customer Support

Safe Gold FX is located in Belize. The platform is running legally as IFSC regulates it.

The website is available in the Chinese language; nonetheless, you can translate it into English. The support can be contacted via telephone number; 4001338880 or via their email address, which is; [email protected] Unfortunately, their live chat cannot be accessed by non-Chinese citizens since you cannot translate the chat window using the browser.

You can use whichever method is suitable for you. Safe Gold FX  is accepting investors from all over the world, even the USA, which has stringent measures. Despite the company being regulated by IFSC, we highly doubt that the NFA licenses them.

Final Verdict

The platform knows the importance of having a demo account for the sake of their traders to practice and test their services. Additionally, Safe Gold FX also values their customers; they have provided them with educational resources which they can use to aid their trading experience. If you like to try a platform that offers high leverage and spread, you might try this Forex brokerage company that has multiple trading accounts at the disposal of investors.

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One Reply to “Safe Gold FX Review: Is Scam or Safe?”

  1. Really nice review. I had very bad experience with Their commission and spread is very high. So stay very away from it. Thanks for making us conscious and sharing the articke.

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