MyGoldenBit Review: is too good to be true

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MyGoldBit Review
  • Fund safety
  • Customer Support
  • Client Feedback


MyGoldenBit is a firm that believes it has what it takes to earn you profits. They rely on their expert team that has years of experience. However, all we see is a scam that is trying very hard to remain relevant.

MyGoldenBit is a platform that claims it has 238K traders. These are the successful traders who have gained using the entity. The firm is trading CFDs, commodities, stock, indices, and Forex. Moreover, the venture also brags it has won a number of awards.

However, there is a huge problem with the information which this entity presents. They allegedly are the best execution broker in 2019 and the best trading platform in 2019. Unfortunately, this company was established in 2020.

They do not mention anywhere existing using a different name. It does not add up and shows that this is a broker that will do anything to stay relevant. The red flag is visible and starting off on a bad note is enough evidence that this is not a reliable broker.

MyGoldenBit claims that it is an advanced trading firm. They also brag that their operation is not affected by volatility. The firm will generate stable returns for all its customers. The entity also states that it will execute the trade on time.

You do not need to download anything. The company guarantees that it will grow your portfolio at a steady pace. The platform also brags that it is a reputable entity. However, the traffic visiting their website is insufficient. Review

MyGoldenBit is a firm that believes it has what it takes to earn you profits. They rely on their expert team that has years of experience. However, all we see is a scam that is trying very hard to remain relevant.

The entity also claims it is a security company. You cannot trust an offshore platform with your safety. The broker will steal from you and exit the market. Nonetheless, this is not the end of their fraudulent activities. Ponzi scheme keeps remerging after being exposed.

They will only change their domain name and spice up their narrative. MyGoldenBit will not increase your trading skills. It is the least of their concern. Additionally, this shady entity is also offering account management services.

MyGoldenBit Review, MyGoldenBit Company

The company assures traders that they do not have to do anything. You can leave the entire task to them. Unfortunately, this will cost you money. Trusting a scam with your account is the greatest mistake that you can do.

Invest with the best forex trading brokers that will maximize on your profit. Moreover, these entities will boast your trading experience. You can trade at the comfort of your home. You money is in safe hands and you have nothing to worry about.

Trading Conditions of MyGoldenBit

MyGoldenBit only requires their clients to register their accounts. Then you deposit funds and from there you can start earning. The company uses a web-based trading platform that is commonly used by scammers.

It is easy for them to manipulate data and make traders see as though they are winning trade. The entity provides a spread of 7.4 pips to their clients. The spread does not favor investors and instead will inflict high costs on them.

Additionally, MyGoldenBit offers a leverage cap of 1:200. It is beyond what the regulatory body in the market permits. Mores can be profitable and at the same time risky. Newbies should approach such entities with caution to avoid making losses.

The Withdrawal and Deposits

MyGoldenBit accepts a minimum amount of 250 EUR. The method of payment that you can use includes; Credit cards, bank transfer, and debit cards. Unfortunately, there is insufficient information provided regarding the withdrawal and deposit.

Nonetheless, we were able to gather that the withdrawal request is processed within 3 days. The platform is also charging investors fees upon cash out. It is not clear the amount that you will pay. The entity is not worth the trust of investors.

Their hefty fees and requirement do not match their trading conditions. It would be best to settle for a platform that has an MT5. MyGoldenBit is also offering Binary Options assets which are risky.

In case this review is not enough evidence that this is a shady broker kindly deposit funds using a credit card. This is because you can issue a chargeback from up to 540 days. You should not risk your money with an offshore broker.

Customer Support and Contact Details

MyGoldenBit is a broker based in Marshall Island. Their location calls for alarm because the Island has lenient measures for investment firms. Moreover, the majority of fraudulent entities are based here. You know that you will never expect a good outcome from an offshore broker.

Reach the company you can only do so via email. There is no telephone number. Once you experience any query it will be impossible to resolve the matter. The entity’s only interest is getting access to your money.

MyGoldenBit is a dirty venture that does not have a professional customer support team. Why would you share your personal data with such a shady entity while they leave no information about themselves?

MyGoldenBit Regulation Status

The entity is not licensed in any jurisdiction in the world. The platform is operating on its own accord without following the set rules. You do not need to be there physically to register an entity in Marshall Island. You can do it virtually.

It puts you at a huge risk. Moreover, the government of this country stress that it does not license forex trading activities or any other online venture. The broker appears to be targeting investors from the UK and EU.

MyGoldenBit Scam Review, MyGoldenBit Features

The FCA is one of the reputable financial bodies in the market that is trying its level best to protect investors. Investors enjoy fund safety once they venture with companies licensed by the FCA. Additionally, such brokers segregate funds in a separate accounts.

Therefore, the company cannot use the money for other purposes rather than the intended one. Traders also stand a chance of being compensated if a firm faces insolvency. As you can see there are several advantages that come with venturing with the right firm.

The Domain Insight is a company that is privately registered. Therefore, it is hard determining the people managing their operation. The entity was registered on October 2021. Their domain will expire on the same month the year 2021.

One thing that you should check if is whether your funds are safe. An entity that has no intention of being in the market for long should be avoided. The platform also does not have much traffic visiting their site.

Clients Feedback

During our research, we come across a number of reviews left behind by clients of MyGoldenBit. Investors claim that the broker is no longer processing the cash-out request of their clients. The firm does not respond to the grievances of its clients.

The company is accused of ignoring the messages of its customers. The balance of investors does not reflect on their account. Nonetheless, there are also paid anonymous people that leave positive reviews to confuse traders.

MyGoldenBit is being praised as the best trading entity in the market. The shady marketers state that the company is paying. Unfortunately, there is no proof that can back up their narrative. Investing blindly by following what other people are saying without evidence will cost you money.

Con artists are smart and tactical. They will steal from you mercilessly without caring. The marketers of Ponzi scheme make money by referring many people. They earn profits at the expense of naïve investors. Invest only with legit forex trading brokers in the industry.

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