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Golden Brokers Limited was founded in 2018, it is regulated in Malaysia, by the Labuan Financial Services Authority (LFSA), and offers clients the ability to trade on more than 1500+ financial instruments.
These can be Forex, Shares, Indices and Commodities. Clients can open a live, demo or Islamic accounts and trade on the Metatrader 5 platform. The minimum deposit is $100.
The main advantage of this broker is the wide offer of possible leverage trading which enables trading with the maximum forex leverage 1:500.
Golden Brokers charges
The withdrawal fees vary on the payment method and they don’t charge a fee for inactive accounts or withdrawal. They charge overnight funding or ‘swap’ fees and commission on CFD instruments.
Broker regulation
This broker is authorised and regulated by the Labuan Financial Services Authority (LFSA). Golden Brokers provides further security of client funds by holding funds in a segregated account from company funds.
Golden Brokers demo account
You can sign up for a free demo account and test your skills or learn from scratch. It’s simple to open a demo account. It’s widely highlighted on their website. You need to fill in a short online form with your name, email and telephone number.
Registering for an account with Golden Brokers
Done in a minute. In the next minute, you have a couple of welcome emails. The first email has the activation link. The second email has your login details. Once activated and logged in, you have another option to choose, whether you want a live account or demo account.
After choosing I want a demo account, I had to choose yet again, that I want a demo account.
Now I`m in the demo account and I have a virtual $100 000 to train with. So, it’s risk-free and I can learn directly on MT5. Because I had the option, I chose to trade with the WebTrader, as it is simpler for me, owning a MacBook. The only thing is, once you`re in the WebTrader, you need to sign up again (name, surname, password etc.).
The registration was simple, quick and without any delays. It’s just annoying, that to open a demo account, I need to agree several times.
The Golden Brokers platform
Golden Brokers offer the well-known MetaTrader 5 platform. You can download with android, apple and windows from their website. With MT5 you can trade different currency pairs, stocks, indices, precious metals and commodities on one platform, although the predecessor MT4 was souped-up too. You can also use the WebTrader or mobile app. The platform design is a bit retro I`d say, even the sounds and everything, but is fast, functional and you can work yourself through intuitively.
Golden Brokers website
The website is available in English and seven more language mutations. It looks to be simple at a first glance and everything you should know is on the main page. The features of the website are:
- Home
- About us
- Trading
- News
- Contact us
- Education
- Blog
The contacts are standard phone, email, address, but I was missing live chat.
The Education section I was interested in the most. Articles nicely describe platforms and trading an instrument, all functioned well. They also have some videos for you to watch. You can also find their blog in the top panel, where there are around 30 articles to go through.
In the News section, you can go through Market News, Analysis, Weekly review and they also have an economic calendar. The news is up to date, only about a day or two old.
Social networks
I couldn`t find a direct link to social networks. So, I had to log in to my FB account and look for Golden Brokers, which should be updated on their website. They post news and facts, videos a couple of times a month. So, the activity there is fine.
Other accounts like LinkedIn and Instagram are updated the same as FB.
Golden Brokers advantages and disadvantages
They offer 700+ financial instruments on a new platform MT5. You can also use a WebTrader and that`s positive. They are active on their social accounts, but I`m missing some big things here. They don’t have live chat.
