Company Review: GoldingFX Analysis and Recommendations
In this review, we will examine the services and operating conditions of the company GoldingFX. This company is not yet very popular in the Russian segment, as the resource is completely based on the English language, but this does not deter bold investors. It is important to understand whether it is worth trusting your finances to this broker and what clients’ reviews are.
Getting to Know GoldingFX Platform
The website, available at goldingfx.net, looks typical, but its peculiarity lies in the lack of multilingual support. At the moment, only the English version is available, but it seems that work on introducing other language options is in progress.
There is very little information about the company on the website. The “About Us” section does not mention anything about the organization’s origin, creation time, developmental stages, founders, team composition, or client reviews. We only have access to general information about the advantages of working with the broker and extensive support.
There is a small section mentioning awards that, according to claims, were awarded to the GoldingFX company.
However, upon superficial verification, we found that these awards are fake. For example, the “Best Broker in Asia” award in 2017 was actually received by another company. It seems that the other awards were also fabricated.
Contact information also does not provide additional details about GoldingFX: the specified legal address belongs to a business center on the Marshall Islands, and the phone number belongs to a Spanish operator.
There is no actual email address listed, according to data from the service 2ip.ru.
Contact through social media platforms is not provided, and there is no chatbot on the official website. It seems that the GoldingFX team is not interested in interacting with users.
Broker’s Licensing and Accreditation Information
The corporation that owns the GoldingFX brand is registered in an offshore zone, the Marshall Islands.
This territory attracts various fraudsters because forex brokers’ activities are not regulated there, and licensing is not considered mandatory. No specific authorized capital or reporting is required, registration can be done remotely. Even a nominal person can be appointed as the company’s statutory director, allowing the real owner to remain hidden. In simple terms, anyone from any country can establish a company in this jurisdiction and conduct business with impunity. The logical question arises: is it worth trusting such a firm with money?
GoldingFX Services Offered to Clients
Four types of accounts are available to traders, requiring a minimum deposit of $500 to open.
The terms are quite favorable: all clients receive the same leverage, minimal spreads, and protection against negative balances. The “refer a friend” tactic is used to attract new clients, where both the referrer and the new client receive bonuses.
It is important to note that the bonuses are not real money. Usually, they cannot be withdrawn, and can only be used for trading after fulfilling certain conditions. Theoretically, only the profits can be withdrawn.
To conduct trading operations, traders are offered the widely known MT4 terminal or the developed proprietary software – GOldingFX Web for PC and GOldingFX Station for mobile devices.
Evaluations and Opinions on GoldingFX’s Operations
Reviews about the company are relatively few, but those that have been found are clearly negative. Here are some examples:
A user complains: “GoldingFX deceived me, do not trust them with your funds, glad I lost only £200.”
Another client writes: “Cannot recommend. Only recently was able to withdraw money from the company. Willing to share experiences in discussion.”
Most of the review’s geography points to fraudulent activity throughout the European zone. Most likely, they plan to actively expand into the Russian market. We recommend being vigilant and taking into account the experiences of deceived clients.
GoldingFX Deception Strategies
According to reviews, the fraudulent scheme is quite simple. The main goal is to attract clients, present fantastic prospects, and unique conditions with this particular broker. After depositing funds into the trader’s account, they start manipulating by making them invest more and more money, such as paying various commissions or increasing the amount to expand opportunities. Managers dealing with these persuasions are commonly referred to as “retention agents” in the English-speaking community.
It is crucial to understand that returning the invested funds in a traditional way will be a non-trivial task. Initially, fund withdrawals are rejected for numerous reasons, then identity verification is required, followed by the discovery of “suspicious activity,” and funds are blocked pending verification. According to some estimates, GoldingFX clients can only recover their investments through local regulators. Even then, fund recovery is not guaranteed.
Recommendations for Working with GoldingFX
Despite attempting to appear as a respected broker, GoldingFX is a simple fraudulent firm registered in an offshore zone. The company does not possess a license, its activities are not overseen by any financial regulator, and the claimed awards are counterfeit. Do not fall for the deceptive facade of a European-level broker – GoldingFX is a product of scammers.
