Golden FXM Review: Avoid this Unregulated Offshore Firm

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Golden FXM Review
  • Fund Safety
  • Contact Details
  • Customer Support
0.5

Summary

Golden FXM is an illegal company operating without regulations. Therefore, they may not meet the right conditions to protect your investment. Invest only with the best forex trading companies in the industry.

Golden FXM pretends to be a forex broker in order to defraud people. They want you to believe that they are a global platform with thousands of traders. However, this company barely has any users. They are only saying this to attract unsuspecting individuals.

It seems that when one scam operation goes down, two others spring in its place. Right now, the forex market is full of fraudulent operations, only looking to steal people’s funds. Golden FXM is a testament to how bad such companies can get.

Moreover, the people behind this company have no transparency in their operations. They are amateurs with no idea of what they are doing. You should not trust such people with your money. Nine out of ten times, they end up being scammers only after your money.

Golden FXM Review, Golden FXM Company

This is why you need to look at every aspect of a company before you invest your money. Ensure that you are investing in a company with thousands of customers. This means that they have the trust and approval of most seasoned traders.

Ensure you only invest in the best legitimate forex brokers in the market for your peace of mind. Only such companies can help you safeguard and grow your investment.

Golden FXM Review

Golden FXM will have you believe that they offer the best trading platform in the market. They are offering clients an MT5 trading platform. This is one of the most popular trading platforms in the world. This is because it is very powerful and robust.

Additionally, the company allows clients to trade a variety of assets. This means that traders can spread their risk of investment across multiple assets. While these two features may be impressive, they mean nothing if the company cannot safeguard your funds. Sadly, this is the case with Golden FXM.

Even worse, this company does not keep its promise to remain transparent to its clients. You can tell the names of team members they provide are fake. At one point, they mention their CEO and founder to be Alfred Wilson. At another point, they named him Jeff Parker. No serious company would ever mistake the name of its founder.

The only good thing is that they offer various channels to contact them. You can give the team a call at +44 (20) 3769 4020. Additionally, you can message them on WhatsApp at +44 (77) 2300 5453. Further, you can email the team at hello@goldenfxm.com. However, note that this is no guarantee that the team will respond to any of your queries. Most fraudulent operations blacklist the numbers and email addresses of their victims.

Account Types

There are seven different account types to choose from on goldenfxm.com. These include the Micro, Basic, Classic, Premium, Gold, Platinum, and VIP accounts. All these account types differ depending on the amount of initial deposit a client makes.

The minimum deposit supported is $500 for the Micro account. This amount goes up as you upgrade your account type. Additionally, all these accounts have a sign-up bonus. The larger the initial deposit, the greater the bonus. The smallest bonus is 30% for the Micro account, and the biggest bonus is 100% for the VIP account.

Additionally, the leverage this company offers is very generous. The maximum leverage ranges from 1:300 to 1:1000. The company does not reveal the spreads for the first six account types. The only spread mentioned is for the VIP account, which has a minimum spread of 0.1 pips.

Interestingly, Golden FXM promises clients guaranteed returns for each of these account types. The returns they promise range from 10% for the Micro account to 60% for the VIP account. No company should promise you these kinds of returns. Fraudulent companies use such figures to attract eager investors.

Deposit and Withdrawal

Surprisingly, goldenfxm.com supports various payment options. You can deposit funds using PayUMoney, using your debit/credit cards, or using bank wire transfers. Most of these payment options allow you to make a chargeback in case of an issue.

However, this is no guarantee that these people will not scam you. They may simply take your money and disappear. This is not a question of whether the payment options are safe. It is about whether the team behind this product is trustworthy. Sadly, the answer to that question is no. You should avoid these people like the plague.

Founders and Physical Location

There is nothing worse than a company that conceals the identities of its founders. Such companies expect you to hand over your money to unidentifiable people on the Internet. That is a recipe for disaster.

For Golden FXM, the situation is way worse. The people behind this company are using fake names for their team members. Luckily, these are floppy amateurs. They named their CEO and founder Alfred Wilson in one section and Jeff Parker in another.

Even worse, the images they are using are from the Internet. We found the images in use in over three other websites. Moreover, they may be using the images of real individuals without their knowledge. This is how reckless these people are.

In terms of physical location, these people do not hide the address of their headquarters. They claim to have their offices on the 5th Floor, Whitechapel High St, London E1 8QS, United Kingdom. While this may be true, we can confirm that they are operating from this location illegally.

Golden FXM Regulation and Fund Safety

As always, we insist that you should only invest in companies that have regulations. Only such companies can assure you of your funds’ safety. This is because regulatory bodies ensure that companies have the right banking set up to protect clients’ funds. Companies must have segregated accounts in a Tier-1 bank to receive a license.

Golden FXM Review, Golden FXM Features

In the United Kingdom, The Financial Conduct Authority handles all forex regulations. We searched the FCA registry and found no results for Golden FXM. There was no result either for their parent company Golden Forex Market.

This means that the company is operating in the United Kingdom illegally. This is an unregulated mess, and the founders can do whatever they want. Such a company cannot assure you of your funds’ safety.

Even worse, there is no evidence of systems’ protection. The company does not mention the software or hardware they use to protect their systems. This means that the systems may be vulnerable to hacking attacks. Hackers can easily access and steal your funds and personal information.

Stay away from this company if you want some peace of mind. This is an illegal operation that has nothing good to offer you.

Final Verdict

We cannot, in our right minds, recommend to you a company that cannot protect your funds. Golden FXM is an illegal company operating without regulations. Therefore, they may not meet the right conditions to protect your investment. There are too many ways you can lose your money in this company.

Moreover, these people are unprofessional and complete liars. The names and pictures they provide on the website are entirely fake. They are doing everything to try and convince you that they are a legitimate operation. Do not fall for any of their antics.

You are better off investing in the top legitimate forex brokers in the market. Such companies have regulations and operate with full transparency.

 

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