#Forex Broker In Labuan
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Golden Brokers review – Is goldenbrokers.my scam or good forex broker?
Golden Brokers is a Malaysian broker, offering a fine selection of currency pairs and various other CFDs, with a single account type, leverage of up to 1:100 and the MetaTrader5 platform. Golden Brokers is regulated by the local Labuan Financial Services Authority. For more information about their offer please check the following review.
Golden Brokers Advantages:
Regulated in Malaysia
We will credit Golden Brokers for their license. The broker is owned and operated by Golden Brokers Ltd., which is licensed and authorized by the Labuan Financial Services Authority (LFSA) – the official regulator in Malaysia, which similarly to well known institutions like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC), by far the three most popular regulators in the industry, oversees forex and CFD brokers by requiring them to follow certain fiscal and ethical rules, to file regular reports and to allow external audits.
With brokers regulated in the EU or by the FCA in the UK however, you will even get additional protection by special client compensation funds, which in the case of FCA will cover up to 85 000 GBP of your trading account even in the unlikely case your broker files for bankruptcy. So here you may check as well our list of brokers, regulated in the UK:
Over 60 currency pairs, a good selection of CFDs
Golden Brokers offers 63 currency pairs, many of which minor or exotic like USD/ZAR, USD/TRY, USD/SGD, USD/SEK, USD/RUB, USD/PLN, USD/NOK, USD/MXN, USD/HUF, USD/HKD, USD/DKK, USD/CZK, USD/BRL and USD/CNH, as well as CFDs on silver, gold, platinum, oil, natural gas, cocoa, coffee, cotton, sugar, corn, wheat, aluminum, copper, nickel, zinc, a selection of indices, futures and stocks – all in all well over 700 trading instruments.
As we do not see any crypto assets however, here you may check as well our list of brokers, trading with bitcoin CFDs:
MetaTrader5 supported
Along the venerable MetaTrader4, MetaTrader5 ranks among the most widely used trading platforms on the market. Similarly to the MT4 it features numerous market indicators – well over 50, and customizable trading robots with the help of which one can easily run automated trading sessions. Here you may check the platform on the screenshot below.
And besides, MT5 comes with a very useful set of advanced charting tools, so here you may also check the link with our brokers, which support the platform as well:
Golden Brokers Disadvantages:
High spreads
As tested with a demo account the benchmark EURUSD spread floated above 3 pips and this is about twice the spread traders would usually find attractive with a standard account, without a trading commission. So here you may check as well our list of brokers, offering tighter spreads:
Does not seem to accept payments with Skrill
The broker accepts payments with bank wire transfers and major credit cards like VISA and MasterCard, but does not seem to accept Skrill, so here you may also check our list of brokers, which do accept Skrill:
No information about the minimum deposit requirement
Just bear in mind that most broker would ask for an initial deposit of about 250 USD, while some big and well known names like FBS and IG will let you start trading with just 5 USD or even less.
Conclusion:
A definite advantage about Golden Brokers is that they are both regulated and able to offer relatively higher leverage – 1:100. And they also support a professional trading platform – the MetaTrader5 with a good selection of currency pairs and plenty of CFDs. Unfortunately the spreads are far form attractive, and for an experienced trader this is not a minor issue.
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Maximizing Profits with Golden Brokers: Advanced Trading Strategies
In the competitive world of online trading, maximizing profits requires a blend of strategic thinking, market understanding, and the right platform. Golden Brokers, a renowned name in the trading industry, provides a comprehensive suite of tools and features designed to help traders achieve their financial goals. This blog will explore advanced trading strategies that can be effectively implemented on the Golden Brokers limited platform, helping you navigate the markets with confidence.
Understanding Golden Brokers
Golden Brokers limited is a globally recognized trading platform that offers a wide range of financial instruments, including forex, commodities, indices, and shares. With its user-friendly interface and advanced trading tools, Golden Brokers caters to both novice and experienced traders. The platform is known for its reliability and excellent customer support, making it a preferred choice for many traders worldwide.
Golden Brokers limited-du and Golden Brokers limited Labuan are part of the Golden Brokers group, providing regional services with the same high standards. Additionally, Golden Brokers UAE offers tailored services for traders in the Middle East, ensuring compliance with local regulations and market conditions.
Key Features of Golden Brokers
Before diving into advanced trading strategies, it’s essential to understand the key features that make Golden Brokers ltd stand out:
Wide Range of Instruments: Golden Brokers offers a diverse selection of trading instruments, including forex pairs, commodities, indices, and shares, allowing traders to diversify their portfolios.
Advanced Trading Tools: The platform is equipped with sophisticated trading tools, including real-time charts, technical indicators, and automated trading options, which are crucial for implementing advanced strategies.
Competitive Spreads and Leverage: Golden Brokers provides competitive spreads and flexible leverage options, enabling traders to maximize their potential returns.
Educational Resources: Golden Brokers offers a wealth of educational resources, including webinars, tutorials, and market analysis, to help traders stay informed and make educated decisions.
Secure and Reliable: With robust security measures and regulatory compliance, Golden Brokers ensures a safe trading environment for its users.
Advanced Trading Strategies with Golden Brokers
Now that we have a clear understanding of the platform, let’s delve into some advanced trading strategies that can help you maximize your profits with Golden Brokers.
1. Technical Analysis and Chart Patterns
Technical analysis involves studying historical price data to predict future price movements. This strategy relies on chart patterns, technical indicators, and trading volumes. Golden Brokers’ platform provides a comprehensive suite of tools for technical analysis, including:
Candlestick Patterns: Candlestick patterns, such as the hammer, engulfing pattern, and head and shoulders, can provide insights into potential market reversals and continuations.
Moving Averages: Moving averages, including the simple moving average (SMA) and exponential moving average (EMA), help smooth out price data and identify trends.
Relative Strength Index (RSI): RSI is a momentum oscillator that measures the speed and change of price movements. It helps identify overbought or oversold conditions.
By mastering these tools and patterns, you can develop a systematic approach to trading, identifying entry and exit points with greater accuracy.
2. Fundamental Analysis
Fundamental analysis involves evaluating the intrinsic value of an asset by examining economic indicators, financial statements, and market news. Golden Brokers limited provides access to a wide range of fundamental data, including economic calendars and financial news updates. Key aspects of fundamental analysis include:
Economic Indicators: Keep track of major economic indicators such as GDP, unemployment rates, and inflation. These indicators can provide valuable insights into the overall health of an economy and its impact on currency pairs.
Company Earnings Reports: For stock traders, analyzing company earnings reports can help identify potential investment opportunities. Look for companies with strong revenue growth, profit margins, and positive earnings guidance.
Market Sentiment: Stay informed about market sentiment by following news and analyst opinions. Positive or negative sentiment can significantly influence market trends.
Combining fundamental analysis with technical analysis can provide a more comprehensive view of the market, helping you make well-informed trading decisions.
3. Risk Management
Effective risk management is crucial for long-term trading success. Golden Brokers ltd offers several tools and features to help manage risk, including stop-loss and take-profit orders. Key risk management strategies include:
Position Sizing: Determine the appropriate position size for each trade based on your risk tolerance and account size. Avoid risking too much on a single trade to protect your capital.
Stop-Loss Orders: Use stop-loss orders to limit potential losses by automatically closing a trade when the price reaches a predetermined level. This helps protect your account from significant drawdowns.
Take-Profit Orders: Take-profit orders allow you to lock in profits by automatically closing a trade when the price reaches a specified target. This ensures you capture gains without having to monitor the market constantly.
Diversification: Spread your investments across different asset classes and instruments to reduce overall risk. Diversification helps protect your portfolio from significant losses in any single market.
By implementing these risk management strategies, you can minimize potential losses and protect your trading capital.
4. Algorithmic Trading
Algorithmic trading involves using computer algorithms to execute trades automatically based on predefined criteria. The Golden Brokers platform supports algorithmic trading through expert advisors (EAs) and automated trading systems. Key benefits of algorithmic trading include:
Speed and Efficiency: Algorithms can execute trades much faster than humans, taking advantage of market opportunities in real time.
Emotion-Free Trading: Algorithms follow predefined rules, eliminating the emotional aspect of trading, which can often lead to poor decisions.
Backtesting: Test your trading strategies on historical data to evaluate their performance before deploying them in live markets.
To get started with algorithmic trading on Golden Brokers, you can either develop your own algorithms or use pre-built EAs available on the platform. Ensure you thoroughly test and optimize your algorithms to maximize their effectiveness.
5. Leveraging Market Correlations
Understanding market correlations can help you identify potential trading opportunities and manage risk. Golden Brokers review highlights the platform’s ability to analyze correlations between different assets. Key correlation strategies include:
Currency Correlations: Analyze the correlations between different currency pairs. For example, the EUR/USD and GBP/USD pairs often move in the same direction due to their close economic ties.
Commodity and Currency Correlations: Understand how commodity prices affect currency pairs. For instance, the Canadian dollar (CAD) is often correlated with oil prices, as Canada is a major oil exporter.
Diversifying with Correlated Assets: Use correlations to diversify your portfolio. For example, if two assets are negatively correlated, one may rise while the other falls, helping to balance your overall risk.
By leveraging market correlations, you can make more informed trading decisions and enhance your overall strategy.
Conclusion
Maximizing profits with Golden Brokers involves a combination of advanced trading strategies, market analysis, and effective risk management. By utilizing the platform’s comprehensive tools and features, you can develop a systematic approach to trading that enhances your chances of success. Whether you’re a seasoned trader or just starting, Golden Brokers offers the resources and support you need to achieve your financial goals.
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Golden Brokers review – Is goldenbrokers.my scam or good forex broker?
Golden Brokers is a Malaysian broker, offering a fine selection of currency pairs and various other CFDs, with a single account type, leverage of up to 1:100 and the MetaTrader5 platform. Golden Brokers is regulated by the local Labuan Financial Services Authority. For more information about their offer please check the following review.
Golden Brokers Advantages:
Regulated in Malaysia
We will credit Golden Brokers for their license. The broker is owned and operated by Golden Brokers Ltd., which is licensed and authorized by the Labuan Financial Services Authority (LFSA) – the official regulator in Malaysia, which similarly to well known institutions like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC), by far the three most popular regulators in the industry, oversees forex and CFD brokers by requiring them to follow certain fiscal and ethical rules, to file regular reports and to allow external audits.
With brokers regulated in the EU or by the FCA in the UK however, you will even get additional protection by special client compensation funds, which in the case of FCA will cover up to 85 000 GBP of your trading account even in the unlikely case your broker files for bankruptcy. So here you may check as well our list of brokers, regulated in the UK:
Over 60 currency pairs, a good selection of CFDs
Golden Brokers offers 63 currency pairs, many of which minor or exotic like USD/ZAR, USD/TRY, USD/SGD, USD/SEK, USD/RUB, USD/PLN, USD/NOK, USD/MXN, USD/HUF, USD/HKD, USD/DKK, USD/CZK, USD/BRL and USD/CNH, as well as CFDs on silver, gold, platinum, oil, natural gas, cocoa, coffee, cotton, sugar, corn, wheat, aluminum, copper, nickel, zinc, a selection of indices, futures and stocks – all in all well over 700 trading instruments.
As we do not see any crypto assets however, here you may check as well our list of brokers, trading with bitcoin CFDs:
MetaTrader5 supported
Along the venerable MetaTrader4, MetaTrader5 ranks among the most widely used trading platforms on the market. Similarly to the MT4 it features numerous market indicators – well over 50, and customizable trading robots with the help of which one can easily run automated trading sessions. Here you may check the platform on the screenshot below.
And besides, MT5 comes with a very useful set of advanced charting tools, so here you may also check the link with our brokers, which support the platform as well:
Golden Brokers Disadvantages:
High spreads
As tested with a demo account the benchmark EURUSD spread floated above 3 pips and this is about twice the spread traders would usually find attractive with a standard account, without a trading commission. So here you may check as well our list of brokers, offering tighter spreads:
Does not seem to accept payments with Skrill
The broker accepts payments with bank wire transfers and major credit cards like VISA and MasterCard, but does not seem to accept Skrill, so here you may also check our list of brokers, which do accept Skrill:
No information about the minimum deposit requirement
Just bear in mind that most broker would ask for an initial deposit of about 250 USD, while some big and well known names like FBS and IG will let you start trading with just 5 USD or even less.
Conclusion:
A definite advantage about Golden Brokers is that they are both regulated and able to offer relatively higher leverage – 1:100. And they also support a professional trading platform – the MetaTrader5 with a good selection of currency pairs and plenty of CFDs. Unfortunately the spreads are far form attractive, and for an experienced trader this is not a minor issue.
0 notes
Text
Golden Brokers Review
Golden Brokers will appeal to traders looking for high leverage up to 1:1000 in return for limited regulatory safeguards. It will also appeal to traders familiar with MetaTrader 5.
Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.
Forex Trading
Speculate on 60+ major, minor and exotic currency pairs such as EUR/AUD, USD/JPY and EUR/GBP with leverage up to 1:100. Fees are not the most competitive, with average spreads of between 3 and 5 pips for major forex pairs.
Stock Trading
You can speculate on the price of hundreds of shares spanning US, EU and Asian markets. On the negative side, the $20 minimum commission is higher than the best stock brokers.
CFD Trading
Trade 700+ products as CFDs on the powerful MetaTrader 5 platform. Access leverage up to 1:100 on major forex pairs with a 50% stop-out level on the standard account.
Pros
Multiple deposit methods including credit/debit card, wire transfer, Neteller and Dragonpay
Deposits accepted in all major currencies, though will be converted to USD at current market rates
Free demo account available to practise trading risk-free with $100,000 in virtual funds
No commission when you trade forex, indices and commodities
Some educational content and integrated video tutorials
Cons
High trading fees with average spreads of 4 pips for major currency pairs such as the GBP/USD
Weak regulatory oversight from the LFSA raises safety concerns
No proprietary trading platform or mobile application
Reports of customers' funds being withheld
No live chat support
This review will discuss the Malaysian-based forex broker, Golden Brokers Ltd. We explore its features with information on the trading platform, available markets, fees, regulation, pros, cons and more. Find out whether to open a live account with Golden Brokers.
Headlines
Golden Brokers Limited was founded in 2018. It is regulated by the Malaysian financial regulator Labuan FSC and its headquarters is based in Kuala Lumpur, Malaysia. It is not quite a global broker as many major geographical locations such as France, Germany and Switzerland are restricted, which other brokers for forex and all manner of trading cater to.
Trading Platforms
MetaTrader 5
MT5 is a world-leading platform with many tools and instruments that can be customised to help each user carry out thorough technical analysis and manage their positions. MT5 is a further development of the MetaTrader 4 platform, offering greater functionality, faster processes and a more intuitive layout. This platform is available on your web browser and downloadable on Windows and Mac.
MT5 platform features include:
Copy trading
21 timeframes
One-click trading
Integrated signals
Automated trading
Hedging and netting
38 built-in indicators
6 pending order types
Markets
Forex – Over 60 major, minor and exotic currency pairs
Commodities – 15 commodities, including precious metals and crude oil
Stock CFDs – Large multinational companies such as Apple, Google and Volkswagen
Indices – 14 global equity indices, such as the Dow Jones & FTSE
Trading Fees
Golden Brokers offers quite large spreads, with typical rates around 3-4 pips for major currency pairs like GBP/USD and EUR/GBP. Spreads for indices range from 2 to 50 pips, while commodities sit between 0.07 and 14 pips.
No commissions are charged, though there are overnight swap fees on CFD positions, which sit at a 0.5% charge, with a minimum fee of USD 20. Additionally, there is a dormancy charge of USD 100 for accounts that remain inactive for an entire year.
Mobile Apps
Golden Brokers clients can access mobile trading through the MetaTrader 5 application. This can be downloaded for both Apple (iOS) and Android (APK) devices from the relevant stores, boasting much of the functionality of the desktop versions. The app offers all supported order types, account management systems and asset classes, with 24 analysis tools and 30 indicators.
The broker’s website also links to a proprietary application on the Apple App Store and Google Play Store. However, there is no mention of the functionality of the application, except for the fact that 24/5 customer support is integrated. From the images provided, the application seems sleek, with at least line, area and candlestick chart support.
Payment Methods
Users can make deposits to and withdrawals from their Golden Brokers accounts using bank wire transfers, credit cards, debit cards and online payment services like Neteller. Deposits can be made in any currency, though they will be converted to USD. A minimum deposit limit of USD 100 is imposed.
Leverage
Golden Brokers clients can access leverage for forex pairs, though not for any other assets offered by the broker. All currency pairs have a maximum rate of 1:100, though this is flexible.
Account Types
To open an account with Golden Brokers you will need to provide personal information like your home address and date of birth, as well as income information like annual income and total net worth. Additionally, you must provide documentation showing proof of identity and residence. It is important to note that the broker will only accept transfers of funds from bank accounts listed on the application forms.
Demo Account
Golden Brokers have provided users with the opportunity to practise making trades on their platform and explore the various markets offered with a free demo account. Each account is given USD 100,000 of digital funds to execute forex, commodities, indices and CFD trades in a simulated environment.
Live Accounts
There is a standard live account on the Golden Brokers platform that provides access to the MetaTrader 5 platform and the many financial instruments. There is also the option for an Islamic account, with which users are entitled to 20 calendar days per year that are swap-free.
Regulation
Golden Brokers is regulated by the Labuan Financial Services Authority in Malaysia with License number MB/19/0030.
This means that the company is authorised to conduct its business and must maintain certain industry standards, such as protection of funds, for example. Client funds are kept safe through account segregation with tier-1 banking institutions, meaning that money can be returned if the broker collapses.
Customer Support
3.3 / 5
The customer service team of Golden Brokers can be contacted via email or telephone, with multilingual support offered, including English, French, German, Chinese and Arabic.
The broker can also be contacted on social media like Facebook, LinkedIn, Twitter and the website blog, which are also used for news and announcements.
Email Address: [email protected]
Phone No.: +60-154-877-0961
Additional Features
There is an Education tab on the Golden Brokers website that provides many helpful guides and videos that can be taken advantage of to boost your knowledge and understanding of topics like trading platforms, instruments, CFDs and leverage.
Golden Brokers Verdict
Golden Brokers caters to both new and veteran traders, offering the advanced but intuitive MetaTrader 5 platform alongside a range of educational guides and tutorials. The firm boasts over 100 forex, equity and CFD instruments, which can be traded with 1:100 leverage and low commission charges. However, Golden Brokers does not have the best level of regulation and spreads are not very competitive.
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Golden Brokers Review 2021
Golden Brokers will appeal to traders looking for high leverage up to 1:1000 in return for limited regulatory safeguards. It will also appeal to traders familiar with MetaTrader 5.
Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.
Forex Trading
Speculate on 60+ major, minor and exotic currency pairs such as EUR/AUD, USD/JPY and EUR/GBP with leverage up to 1:100. Fees are not the most competitive, with average spreads of between 3 and 5 pips for major forex pairs.
Stock Trading
You can speculate on the price of hundreds of shares spanning US, EU and Asian markets. On the negative side, the $20 minimum commission is higher than the best stock brokers.
CFD Trading
Trade 700+ products as CFDs on the powerful MetaTrader 5 platform. Access leverage up to 1:100 on major forex pairs with a 50% stop-out level on the standard account.
Pros
Multiple deposit methods including credit/debit card, wire transfer, Neteller and Dragonpay
Deposits accepted in all major currencies, though will be converted to USD at current market rates
Free demo account available to practise trading risk-free with $100,000 in virtual funds
No commission when you trade forex, indices and commodities
Some educational content and integrated video tutorials
Cons
High trading fees with average spreads of 4 pips for major currency pairs such as the GBP/USD
Weak regulatory oversight from the LFSA raises safety concerns
No proprietary trading platform or mobile application
Reports of customers' funds being withheld
No live chat support
This review will discuss the Malaysian-based forex broker, Golden Brokers Ltd. We explore its features with information on the trading platform, available markets, fees, regulation, pros, cons and more. Find out whether to open a live account with Golden Brokers.
Headlines
Golden Brokers Limited was founded in 2018. It is regulated by the Malaysian financial regulator Labuan FSC and its headquarters is based in Kuala Lumpur, Malaysia. It is not quite a global broker as many major geographical locations such as France, Germany and Switzerland are restricted, which other brokers for forex and all manner of trading cater to.
Trading Platforms
MetaTrader 5
MT5 is a world-leading platform with many tools and instruments that can be customised to help each user carry out thorough technical analysis and manage their positions. MT5 is a further development of the MetaTrader 4 platform, offering greater functionality, faster processes and a more intuitive layout. This platform is available on your web browser and downloadable on Windows and Mac.
MT5 platform features include:
Copy trading
21 timeframes
One-click trading
Integrated signals
Automated trading
Hedging and netting
38 built-in indicators
6 pending order types
Markets
Forex – Over 60 major, minor and exotic currency pairs
Commodities – 15 commodities, including precious metals and crude oil
Stock CFDs – Large multinational companies such as Apple, Google and Volkswagen
Indices – 14 global equity indices, such as the Dow Jones & FTSE
Trading Fees
Golden Brokers offers quite large spreads, with typical rates around 3-4 pips for major currency pairs like GBP/USD and EUR/GBP. Spreads for indices range from 2 to 50 pips, while commodities sit between 0.07 and 14 pips.
No commissions are charged, though there are overnight swap fees on CFD positions, which sit at a 0.5% charge, with a minimum fee of USD 20. Additionally, there is a dormancy charge of USD 100 for accounts that remain inactive for an entire year.
Mobile Apps
Golden Brokers clients can access mobile trading through the MetaTrader 5 application. This can be downloaded for both Apple (iOS) and Android (APK) devices from the relevant stores, boasting much of the functionality of the desktop versions. The app offers all supported order types, account management systems and asset classes, with 24 analysis tools and 30 indicators.
The broker’s website also links to a proprietary application on the Apple App Store and Google Play Store. However, there is no mention of the functionality of the application, except for the fact that 24/5 customer support is integrated. From the images provided, the application seems sleek, with at least line, area and candlestick chart support.
Payment Methods
Users can make deposits to and withdrawals from their Golden Brokers accounts using bank wire transfers, credit cards, debit cards and online payment services like Neteller. Deposits can be made in any currency, though they will be converted to USD. A minimum deposit limit of USD 100 is imposed.
Leverage
Golden Brokers clients can access leverage for forex pairs, though not for any other assets offered by the broker. All currency pairs have a maximum rate of 1:100, though this is flexible.
Account Types
To open an account with Golden Brokers you will need to provide personal information like your home address and date of birth, as well as income information like annual income and total net worth. Additionally, you must provide documentation showing proof of identity and residence. It is important to note that the broker will only accept transfers of funds from bank accounts listed on the application forms.
Demo Account
Golden Brokers have provided users with the opportunity to practise making trades on their platform and explore the various markets offered with a free demo account. Each account is given USD 100,000 of digital funds to execute forex, commodities, indices and CFD trades in a simulated environment.
Live Accounts
There is a standard live account on the Golden Brokers platform that provides access to the MetaTrader 5 platform and the many financial instruments. There is also the option for an Islamic account, with which users are entitled to 20 calendar days per year that are swap-free.
Regulation
Golden Brokers is regulated by the Labuan Financial Services Authority in Malaysia with License number MB/19/0030.
This means that the company is authorised to conduct its business and must maintain certain industry standards, such as protection of funds, for example. Client funds are kept safe through account segregation with tier-1 banking institutions, meaning that money can be returned if the broker collapses.
0 notes
Text
Golden Brokers Reviews 2024
Golden Brokers will appeal to traders looking for high leverage up to 1:1000 in return for limited regulatory safeguards. It will also appeal to traders familiar with MetaTrader 5.
Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.
This review will discuss the Malaysian-based forex broker, Golden Brokers Ltd. We explore its features with information on the trading platform, available markets, fees, regulation, pros, cons and more. Find out whether to open a live account with Golden Brokers.
Golden Brokers Limited was founded in 2018. It is regulated by the Malaysian financial regulator Labuan FSC and its headquarters is based in Kuala Lumpur, Malaysia. It is not quite a global broker as many major geographical locations such as France, Germany and Switzerland are restricted, which other brokers for forex and all manner of trading cater to.
Trading Fees
Golden Brokers offers quite large spreads, with typical rates around 3-4 pips for major currency pairs like GBP/USD and EUR/GBP. Spreads for indices range from 2 to 50 pips, while commodities sit between 0.07 and 14 pips.
No commissions are charged, though there are overnight swap fees on CFD positions, which sit at a 0.5% charge, with a minimum fee of USD 20. Additionally, there is a dormancy charge of USD 100 for accounts that remain inactive for an entire year.
Mobile Apps
Golden Brokers clients can access mobile trading through the MetaTrader 5 application. This can be downloaded for both Apple (iOS) and Android (APK) devices from the relevant stores, boasting much of the functionality of the desktop versions. The app offers all supported order types, account management systems and asset classes, with 24 analysis tools and 30 indicators.
The broker’s website also links to a proprietary application on the Apple App Store and Google Play Store. However, there is no mention of the functionality of the application, except for the fact that 24/5 customer support is integrated. From the images provided, the application seems sleek, with at least line, area and candlestick chart support.
Payment Methods
Users can make deposits to and withdrawals from their Golden Brokers accounts using bank wire transfers, credit cards, debit cards and online payment services like Neteller. Deposits can be made in any currency, though they will be converted to USD. A minimum deposit limit of USD 100 is imposed.
Leverage
Golden Brokers clients can access leverage for forex pairs, though not for any other assets offered by the broker. All currency pairs have a maximum rate of 1:100, though this is flexible.
Account Types
To open an account with Golden Brokers you will need to provide personal information like your home address and date of birth, as well as income information like annual income and total net worth. Additionally, you must provide documentation showing proof of identity and residence. It is important to note that the broker will only accept transfers of funds from bank accounts listed on the application forms.
Demo Account
Golden Brokers have provided users with the opportunity to practise making trades on their platform and explore the various markets offered with a free demo account. Each account is given USD 100,000 of digital funds to execute forex, commodities, indices and CFD trades in a simulated environment.
Live Accounts
There is a standard live account on the Golden Brokers platform that provides access to the MetaTrader 5 platform and the many financial instruments. There is also the option for an Islamic account, with which users are entitled to 20 calendar days per year that are swap-free.
Regulation
Golden Brokers is regulated by the Labuan Financial Services Authority in Malaysia with License number MB/19/0030. This means that the company is authorised to conduct its business and must maintain certain industry standards, such as protection of funds, for example. Client funds are kept safe through account segregation with tier-1 banking institutions, meaning that money can be returned if the broker collapses.
Customer Support
The customer service team of Golden Brokers can be contacted via email or telephone, with multilingual support offered, including English, French, German, Chinese and Arabic. The broker can also be contacted on social media like Facebook, LinkedIn, Twitter and the website blog, which are also used for news and announcements.
Additional Features
There is an Education tab on the Golden Brokers website that provides many helpful guides and videos that can be taken advantage of to boost your knowledge and understanding of topics like trading platforms, instruments, CFDs and leverage.
Golden Brokers Verdict
Golden Brokers caters to both new and veteran traders, offering the advanced but intuitive MetaTrader 5 platform alongside a range of educational guides and tutorials. The firm boasts over 100 forex, equity and CFD instruments, which can be traded with 1:100 leverage and low commission charges. However, Golden Brokers does not have the best level of regulation and spreads are not very competitive.
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dependable Forex broker in Malaysia
Are you on the lookout for a dependable Forex broker in Malaysia? Look no further! FXPotato brings you an exclusive list of trusted Forex Brokers in Malaysia (Labuan FSA) https://fxpotato.com/forex-brokers-in-malaysia tailored to meet your trading needs. They understand the importance of reliability and security when it comes to choosing a broker for your financial endeavors. That's why their curated list ensures that each broker is reputable, regulated, and offers competitive services. Whether you're a seasoned trader or just starting out, FXPotato platform provides you with the necessary resources to make informed decisions.
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Golden Brokers Review
We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.
Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
Golden Brokers Facts & Figures
Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.
Golden Brokers is a CFD broker offering the popular MetaTrader 5 platform, thousands of instruments and a mediocre mobile app. In this review, we will explore whether UK traders should invest with Golden Brokers, assessing its market access, fees, regulation and more.
Pros
Multiple deposit methods including credit/debit card, wire transfer, Neteller and Dragonpay
Deposits accepted in all major currencies, though will be converted to USD at current market rates
Free demo account available to practise trading risk-free with $100,000 in virtual funds
No commission when you trade forex, indices and commodities
Some educational content and integrated video tutorials
Cons
High trading fees with average spreads of 4 pips for major currency pairs such as the GBP/USD
Weak regulatory oversight from the LFSA raises safety concerns
No proprietary trading platform or mobile application
Reports of customers' funds being withheld
No live chat support
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Golden Brokers Review
What is Golden Brokers?
Golden Brokers provides trading in Contracts for Difference (CFDs) across major products such as forex, commodities, indices, and shares to both beginner and professional traders. Traders have the opportunity to speculate on over 700 products using the MT5 platform, without incurring any commission fees. Additionally, they have the flexibility to choose from a variety of international payment methods. Golden Brokers enables access to leverage of up to 1:100 when trading major forex pairs. The broker also provides technical analysis.
Through our research, we uncovered additional information about the broker and gained insights into various aspects of Golden Brokers' operations.
Lack of serious registration: Golden Brokers Ltd. is authorized and regulated by the Labuan Financial Services Authority (LFSA) under license number MB/19/0030. Accordingly, Golden Brokers Ltd. is permitted to engage in business as a Money Broker and conduct specific categories of financial investment activities as allowed by the Labuan Financial Services and Securities Act 2010. This means Golden Brokers operates as an offshore broker. While some offshore brokers have quite good trust records, it's essential to conduct thorough research and carefully consider the risks before entrusting your funds to any offshore or unregulated broker.
Mostly negative client feedback: Golden Brokers does not stand out for its positive reviews from clients. The negative reviews are mostly about the unfavorable conditions of the broker, lack of transparency, bad customer service, impossibility of withdrawing money, etc.
Market Manipulations: Typically, when there is a lack of transparency and regulatory supervision, it creates conditions that are susceptible to market manipulation, posing threats to both market integrity and investor confidence. Therefore, it is imperative to select a broker that operates within a well-regulated framework to guarantee a secure trading environment.
Insufficient withdrawal process: Prioritizing the withdrawal process is essential as it is a vital aspect of the trading experience. Numerous traders have reported encountering similar issues with Golden Brokers, expressing concerns that when attempting to withdraw profits, the support team encourages further investments. This scenario often results in the loss of their funds and is typical to many offshore brokers.
Overall Golden Brokers Ranking
Thorough research showed significant concerns regarding the reliability of Golden Brokers and its compliance with regulatory standards. Consequently, we are unable to provide a positive rating for Golden Brokers.
Golden Brokers Alternative Brokers
Given the apprehensions regarding the reliability and security of Golden Brokers, we strongly advise traders to explore alternative options that provide stronger regulatory oversight and improved trading conditions. Below, we have compiled a list of reputable brokers that offer dependable choices and a secure trading environment for your consideration:
ThinkMarkets – Competitive Spreads
FXTM – Good for Beginners and Good Fees
Go Markets – Wide Range of Trading Instruments
Deposits and Withdrawals
Users have the flexibility to make deposits to and withdrawals from their Golden Brokers accounts using various methods, including bank wire transfers, credit cards, debit cards, and online wallets such as Neteller. There is a minimum deposit limit of $100.
There is not much information regarding the broker's withdrawal process. Given Golden Brokers' offshore registration, we recommend being very careful while considering investing with the broker.
Account Types
Golden Brokers facilitates trading through the widely used MT5 platform, which offers a plethora of tools and instruments that users can customize to conduct comprehensive technical analysis and manage their positions effectively. This platform is accessible on both Windows and Mac operating systems. When conducting trades through the MT5 platform, traders have access to Copy Trading, technical analysis, automated trading, hedging, trading signals, and other favorable features and strategies.
Golden Brokers Review Conclusion
Based on the information we have gathered regarding Golden Brokers, there are notable concerns about the broker’s trustworthiness and credibility. The primary apprehension revolves around the absence of tight regulation. Golden Brokers is only regulated by the Labuan Financial Services Authority, lacking a top-tier license. Besides, along with the lax regulation, there is a multitude of complaints and negative reviews related to the broker’s withdrawal process, insufficient customer support, transparency, etc.
Our recommendation is to prioritize brokers that hold licenses from reputable authorities such as FCA, ASIC, or CySEC. Most regulated brokers offer excellent services and favorable trading conditions, at the same time following top-tier regulations, thus ensuring a secure trading environment. Some of the regulated brokers with good standing in the market are Eightcap, OANDA, and FP Markets.
Overall ranking and experience for Golden Brokers is Negative.
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Are you searching for the best Forex trading services Dubai? If yes, contact Ventura Prime FX Limited. You can enjoy the flexibility that only comes with customized trading journeys. Click here for more information: https://www.vpfx.net/metatrader-4/
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Are you searching for the best Forex trading services Dubai? If yes, contact Ventura Prime FX Limited. You can enjoy the flexibility that only comes with customized trading journeys. Click here for more information: https://www.vpfx.net/
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Are you searching for the best currency trading services in Labuan? If yes, contact Ventura Prime FX Limited. You can enjoy the flexibility that only comes with customized trading journeys. Click here for more information: https://www.vpfx.net/forex/
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The future market is for those who want to hedge their exposure to an underlying market and, at the same time, make huge returns. In contrast, the Spot market is for traders looking forward to making buying and selling decisions with no time constraints.
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Best forex broker South Africa
South Africa has been busy with designing and implementing tech makeovers. The country has been able to stay abreast of tech developments over the past two decades. The native forex trading community has expanded, thanks to mobile connectivity. Of the diverse forex brokers offering services in the region, PrimeFin is head and shoulders above the rest. Best forex broker South Africa - let's see how far PrimeFin is a genuine candidate for the position.
When was PrimeFin established?
Caps solution Ltd trades under the name PrimeFin. Incorporated under Labuan laws, the company has the registration number LL16622. MB/20/0052 is the license number, and the company is regulated by the national Malaysian regulatory body, the Labuan Financial Services Authority.
Caps Solutions UK Ltd is UK registered - registration number 12734767. The latter is both a payment processor and broker website operator. Almack House , 26-28 King Street, London, England SW1Y6QW is the UK registered company's registered address.
Is PrimeFin safe?
The broker's top priority is to keep your funds secured. Hence, your funds are segregated from corporate operating accounts. Leading global banking institutions have these deposits.
Secure infrastructure, safe transactions
Up to the minute hardware and software have you hit the ground running as regards data security with PrimeFin. The safety measures are the following:
Tough firewalls and SSL or Secure Sockets Layer protect data during transmission. In addition, SAS 70 certified data centres maintain trading servers;
Transactions administered according to Level 1 PCI compliance services moderation;
Transactions come encrypted;
Communication data servers.
There Are forty currency pairs you can choose from once you are decided upon trading with PrimFin. The broker affords over the counter market traded forex CFDs. The profit is based on the underlying forex pair's value fluctuation. Trader positions and market direction affect earnings.
Forex trading with PrimeFin brings you the following benefits:
Tradable on margin;
Liquidity;
Efficient trading;
Low transaction costs;
Transparency and ease of execution;
Stop loss and contingency orders easily placed.
Best forex broker South Africa: Initial deposit processing
If you deposit your funds with PrimeFin using a credit card, the broker will refund all amounts up to the amount deposited through that very card. In case you made a profit on your investments, the broker will return these profits via EFT.
In a number of cases, the credit card company sets time limits with refund issual in mind. When the time frame expires, the broker will return trader funds thru ETF.
Best forex broker South Africa has a withdrawal process based on strict guidelines to make sure client funds are securely returned to the source and beneficiary.
In the event of the client requesting a wire transfer withdrawal amounting to less than Eur 50, PrimeFin will apply a withdrawal processing fee of Eur 30 the withdrawal processing fee shall be charged before the wire transfer processing. Therefore, when the request amount is Eur 30 or less, the withdrawal request is not accepted.
To enter an online order when trading forex instruments, you have to access the Markets window, then click buy or sell for the market in question. A new window will show up in which you enter the lot size and price. The order is filed soon after you hit the OK button. You must, naturally, have enough funds in your account.
Reasons for order failures could include:
Insufficient margin;
Changing dealer prices;
Lot size omission;
Unforeseen technical difficulties.
To use one-click trading, you have to go to the settings menu and opt for 'view and edit.' You then check the one-click box. For a one-clock trading online order entry, you have to access the Markets window, entering the lot size and price. The order is filled soon after you click the buy/sell button. You ought to obviously have enough funds in your account.
When closing positions, too, we can use one-click trading. Read the PrimeFin Review.
Best forex broker South Africa: PrimeFin bonuses
There are some interesting bonuses from this broker. Bonus schemes make up part of the broker's marketing campaign. This includes financial awards and promotions provided to clients. These will be good just for 90 consecutive days from the date of acceptance by the client.
When you deposit
250-499 USD,
500-999USD,
1000 USD and above,
the client's trading account will be credited with
100 USD bonus,
200 USD bonus,
300 USD bonus
As a 'welcome bonus'.
Expect this in your trading account within two days of your adding the initial deposit!
The zero spreads bonus scheme is another exciting offer from the Best forex broker in South Africa, PrimeFin. Read our PrimeFin Review.
Conclusion
Best forex broker South Africa is a title that has a fully legit candidate, and that's PrimeFin. The broker has the credentials to give you your money's worth. The digital sponsor of the Argentine national team, the broker, has abilities that match its ambitions. You can keep learning to better yourself as a trader new to the field. Alternatively, mature traders will not be disappointed either.
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What are the Major Currency Pairs to Trade in Forex Market?
Foreign exchange trading or forex trading is mainly about selling any buying of currency in a pair. For selling and buying currencies in a pair, one needs detailed information about the value of each currency in the pair in correlation to the other. It is this relationship that defines a pair of currency.
There are more than 200 countries around the globe, but you will find that only a few currencies are engaged in trading as pairs. This goes to say that any random currency pair does not carry the potential to produce the result while trading. So, currency pairs need to be analyzed well before you start trading them in pairs. To create the most ideal currency pair of trading it is important to know the most prominent currencies around the world that are used for currency trading in Malaysia and elsewhere. They are:
● USD or US Dollar
● EUR or Euro
● AUD or Australian Dollar
● CHF or Swiss Franc
● CAD or Canadian Dollar
● JPY or Japanese Yen
● GBP or British Pound
These currencies make prominent currency pairs and are more extensively traded in forex trading in Labuan. So, to achieve greater success with forex trading, one must possess a much better understanding and knowledge of the pairs of currency that they trade. You are free to make any kind of currency pair for trading. However, today, we have listed some of the prominent pairs of currency that are extensively traded by forex brokers in Labuan. So, if you happen to select from the currency pairs as mentioned below, trading will get much easier for you as you find ample of expert advice and analytical data. So, let us check out the most traded currency pairs.
USD/EUR
The US dollar and Euro pair is the most prominent currency pair used extensively for currency trading in Malaysia and the world over. Plus, this pair has got the least spread amongst modern forex brokers in Labuan. This pair of currency is combined with fundamental scientific analysis. The biggest advantage of this pair of currency is that it’s the least volatile. As a trader, if you do not wish to take much risks, then you select this forex pair for trading. You will find the most extensive Infomation about this pair of currency, which will help you make an informed decision, preventing you from making the usual rookie errors.
USD/GBP
The possibility of large jumps and profitable pips have greatly increased the popularity and demand of the US dollar and Brtish pound currency pair among trading circles undertaking forex trading in Labuan. However, higher profit margins are also accompanied by greater risks. So, one must be extra careful and attentive while trading with this pair of currency. The USD/GBP pair can be easily categorized as a highly volatile currency pair. But many forex brokers still recommend this pair as the best currency pair for trading. Because plenty of information is available online about the market analysis report of this currency pair, which helps them make the right predictions.
USD/JPY
UD dollar and Japanese Yen is another most popular pair of currency among forex traders. This pair of currency is most extensively used in currency trading. This pair is usually correlated to low spreads, plus, you will normally find a steady trend without heavy fluctuations as compared to other pairs of currency. This currency pair offers the potential of delivering profitable and exciting opportunities to the traders.
All major pairs of currencies traded around the world today are provided with fixed spreads. However, the USD/GBP pair experiences the most volatility. This the reason why the fixed spread aspect is not suitable for this currency pair. For a new trader, it is more useful to avoid trading the currency pairs that come with high spreads, due to the higher riks involved. Even experienced traders trade cautiously with high spread currency pairs. Trading experts recommend that the ideal spread for trading should be approx 0 to 3 pips. If and when the value of the spread goes over 6 pips, then the trading currency pair becomes volatile and costly, which could result in great losses and/or risks.
However, this doesn’t imply that a trader must forgo every pair that contains high spreads. A wonderful method of trading effectively and sensibly is by managing your risks effectively while you trade. This can be achieved by effective risk management, by spreading your investments across various pairs rather than focusing all your money on one pair. This strategy will average out your losses and will ensure better long term gains.
If you are searching for expert advice on currency trading, then you must visit VPFX today.
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What is Leverage? How Can Leverage Be Disastrous For Your Forex Account?
Many traders use leverage while trading forex. While this can reap in higher profits, it also has the potential to cause losses. And an inexperienced trader stands to lose a lot of money with a single wrong decision or an erroneous trade position. So how can you avoid leverage from going disastrous while trading forex in Dubai?
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