In 2018, Labuan-based money broker Golden Brokers was established. Golden Brokers provides its services to online traders all over the world despite having its headquarters in Malaysia. The broker gives its customers the option to trade CFDs on popular asset classes like forex, commodities, indices, and shares.
Regulation and license
The Labuan Financial Services Authority (“LFSA”) has issued a license to Golden Brokers Ltd with license number MB/19/0030 to act as a money broker and is responsible for enforcing that license. Although the company has operations around the world, its main office is in Kuala Lumpur, Malaysia.
Golden Brokers maintain their clients’ funds in a separate account from the broker’s funds by the client agreement. Protecting clients’ money, particularly if a business is declared bankrupt, requires keeping client and corporate funds separate. As soon as the margin level drops below 50%, the broker also employs a stop protection policy that liquidates open trade positions.
Tradeable Markets and Products from Golden Brokers.
Whether a broker is a good fit for a client depends on the tradable markets and products that are offered. Customers of Golden Brokers can trade on a variety (more than 1500) of financial CFD instruments, including FX, shares, commodities, and indices. Leverage up to 1:100 is available to clients of Golden Brokers for each trade.
Trading Account
Golden Brokers gives customers access to one live account that enables them to:
- availability of more than 1500 financial CFD instruments.
- 100:1 maximum account leverage.
- $100 minimum down payment.
- ability to create numerous sub-accounts.
A new account can be opened by users in a few simple steps. The ‘Open Live Account’ button on the broker’s home page prompts users to enter their name, email address, and phone number to register. The user will then be taken to the client portal, where he will need to fill out more data.
In a few minutes, you will get an activation link in your email.
Unfortunately, some countries are not accepted by this broker. Among them: are Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosnia and Herzegovina, Malaysia, Iraq, Lao People’s Democratic Republic, Syria, Uganda, Vanuatu, Yemen, and EU residents.
For accounts that are inactive for twelve months without any deposits, withdrawals, or trading activity, Golden Brokers levies a $100 inactivity account fee.
Goden Brokers demo account
A free demo account and an Islamic (swap-free) account are also accessible through the broker. It should be noted that the Islamic account only offers swap-free trading for 20 calendar days; thereafter, swap fees will be applied to any open positions.
Golden Brokers Trading Platforms
A trader’s interaction with a broker is impacted by the trading platforms. Customers of Golden Brokers utilize the well-known MetaTrader 5 platform. It is suitable for both inexperienced and seasoned traders and has an intuitive user interface. The web, mobile apps, and desktop apps can all be used to access MT5.
Website and its functionality
The website is presented in a user-friendly and colorful scheme – black and white with yellow. Each section on the home page contains a sub-section with detailed information.
There is a lot of information on the website, including the MetaTrader 5 manual and the news section. Golden Brokers support accounts in all popular social networks. All of them are accessible from the home page.
The developers of the broker are not standing still and are keeping up with the times. Recently, a sub-brand has been created called Tradematics.com. It is also a promising trading platform with huge potential and a well-design web in a futuristic manner.
Golden Brokers also won many awards, even two in 2022 at the Forex Traders Summit in Dubai, namely best customer service and Fast-growing Forex Broker.
Customer Support
24-hour customer service is available from Golden Brokers via phone and email in multiple languages, including English, Russian, Vietnamese, Arabic, and Spanish. On the ‘Contact Us page of the broker’s website, there is a contact form as well.
Advantages:
- Meta trader 5
- User-friendly interface
- Multilingual support
- Demo account
But some disadvantages are also visible to be mentioned, among them:
- inactivity account fee.
