Goldenway Global Forex Broker

Note: Goldenway Globals official site - https://www.gwguk.com/en/index.html is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Registered Country/Region United Kingdom Regulation unregulated Market Instrument forex currency pairs, precious metals, crude oil, and indices Account Type Standard &VIP Demo Account N/A Maximum Leverage 1:500 Spread (EUR/USD) 1.8 pips Commission (forex) no Trading Platform MT4 Minimum Deposit $200 Deposit & Withdrawal Method credit/debit cards, wire transfers, e-wallets like Skrill and FasaPay Goldenway Global, a trading name of Goldenway Global Investments (UK) Ltd, is a subsidiary of Goldenway Group. It is a highly trusted online trading service provider registered in the United Kingdom, offering investors a range of trading products with leverage up to 1:500 and floating spreads on the MT4 trading platform via two different live account types. As for regulation, Goldenway Global claims to be regulated by Financial Conduct Authority - FCA but has been cancelled. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.43/10. Please be aware of the risk. Note: The screenshot date is January 17, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments Goldenway Global provides investors with a range of popular financial trading instruments, mainly forex currency pairs, precious metals, crude oil, and indices. Account Types Goldenway Global offers investors two different account types: Standard and VIP Accounts. Standard accounts have a minimum deposit of $200 ($50 for New Zealand residents). VIP accounts have a minimum deposit of $50,000. The base currency of the account is the USD, and if the investor uses other currencies to deposit funds, a certain exchange rate will apply. Additionally, both accounts have a minimum trade size of 1 lot and no micro lots available. Leverage The maximum leverage is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. Spreads & Commissions The spreads on the Goldenway Global platform are pretty high, with an average spread of 1.8 pips on EURUSD, and no commission is charged on forex transactions. Trading Platform Goldenway Global provides traders with the world's leading and widely acclaimed MT4 trading platform, as well as MT4 Desktop and MT4 Mobile. MT4 is the preferred choice for traders of all experiences, easily meeting the trading needs of all traders and allowing automated trading through EAs. GWMT4 offers 31 charting tools, 9 timelines, and 30 technical indicators. Deposit & Withdrawal Goldenway Global clients can withdraw funds via credit/debit cards, wire transfers, and e-wallets like Skrill and FasaPay. Withdrawals usually take 2 business days. Customer Support Goldenway Globals customer support can be reached by telephone: + 44 203 4118 398, email: info@gwguk.com. Company address: 35 New Broad Street, London EC2M 1NH. Pros & Cons Pros Cons • Multiple trading assets and funding options • No regulation • No commission on forex trading • Website inaccessible • MT4 supported • Uncompetitive spreads • High minimum deposit ($200) Frequently Asked Questions (FAQs) Q 1: Is Goldenway Global regulated？ A 1: No. The FCA license that Goldenway Global claims to hold has been cancelled. Q 2: Does Goldenway Global offer the industry-standard MT4 & MT5？ A 2: Yes. Goldenway Global supports MT4. Q 3: What is the minimum deposit for Goldenway Global？ A 3: The minimum initial deposit at Goldenway Global to open a Standard account is $200 ($50 for New Zealand residents). Q 4: Does Goldenway Global charge a fee？ A 4: Like every forex broker, Goldenway Global charges a spread fee, but no commission is charged. Q 5: Is Goldenway Global a good broker for beginners？ A 5: No. Goldenway Global is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit.