Goldenbrokers.my

About broker

Golden Brokers Ltd. is a Labuan based company that provides trading in Contracts for Difference (“CFDs”) across major products such as forex, commodities, indices and shares to individual as well as professional traders.

Licence and regulation

Golden Brokers Ltd. is authorised and regulated by the Labuan Financial Services Authority (“LFSA”) with license number MB/19/0030. As such, Golden Brokers Ltd. is authorised to conduct business as Money Broker and carry out certain categories of financial investment business as permitted under the Labuan Financial Services and Securities Act 2010. Clients’ funds are closely monitored to ensure the compliance with the latest regulatory rules, requirements and guidelines, whilst ensuring its separations from the company’s accounts and funds.

News and education

There is a pretty good news service with daily market report. These posts inform about the most important things happening in relevant fields. As for education, there are a few posts describing the basics of trading with a major focus on forex. Such combination is suitable for new traders as they need a proper introduction to financial world. More demanding traders will have to look for other news portals to get all the necessary information relevant for trading.

Services

As mentioned at beginning Golden Brokers offers trading of forex, commodities, indices and shares. The main advantage of this broker is a broad offer range of possible leverage trading. Maximum legal leverage for forex 1:100 is available with this broker. Be careful. Trading with a 1:100 might lead to huge profits but it naturally comes with a considerable risk.

As for fees, there is no universal spread; instead each instrument has its own. Minimum deposit is 100 USD which is on the lower end of the scale. The broker does provide typical spreads, leverage and commission for the different instruments available to trade on. There is also a fee for overnight trading.

Trading platforms

There is a choice between web based and app based (phones and desktops) client. In both cases, trading is done via standard MetaTrader 5. Both versions use a simple but relatively efficient design. Golden Brokers offers an ideal demo account for new traders. To create a demo account, you must enter your first name, last name, email and phone number (none of them have verification). Then you will almost instantly receive an email with your login information and a link to download the desktop app if you want to use it.

Platform MT5 is somewhat curt, but effective. It offers a possibility to enable one-click trading, which allows very fast placing of orders, be careful to choose to allow it. A few accidental clicks can lead to disaster. In that case, just enter the quantity and click buy or sell. Alternatively, click the new order button and open a window with additional customization options. These include choosing between a trade type (Pending Order or Market Execution) and customizing the order itself, such as volume, stop loss, etc.

There is a limited amount of information available such as charts over time and trading sentiment, but there are impressive customization possibilities with various charts, lines and grids. Features like this are present all over the platform and they help traders a lot.

Conclusion and information about broker

This broker is a good choice for qualified and capable traders. A wide range of possible leverage operations is certainly an advantage. However, caution should be exercised when trading with high leverage. Golden Brokers offers low to high risk trades that have the potential for a very high reward. The company can be contacted by phone, mail or customer service.

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