GoldFlame Forex Broker

Goldflame Forex Broker - Comprehensive Information Guide

1. Broker Overview

Goldflame, officially known as Goldflame Ltd, was established in 2020. The company is headquartered in Hong Kong, where it operates from a virtual office located at 1 Connaught Road, 28/F, A | A Central. Goldflame is a private entity, and it primarily serves retail clients looking to engage in forex trading and other financial instruments.

The broker's development has been marked by its aggressive marketing strategies, including telemarketing, which have raised concerns about its legitimacy. Reports indicate that clients have faced difficulties withdrawing their funds, suggesting a lack of transparency in its operations. Despite being a relatively new player in the market, Goldflame has attracted attention due to its unregulated status and the numerous warnings issued by various financial authorities.

Goldflame operates primarily in the retail forex market, offering a variety of trading products and services to individual investors. However, the company has not disclosed any significant milestones or achievements since its inception, and it lacks a parent company or group affiliation.

The business model of Goldflame is primarily focused on retail forex trading, but it also provides access to other financial instruments, including CFDs on commodities, indices, and cryptocurrencies.

Goldflame broker is the first mention of the term in this article, emphasizing the broker's identity as a financial service provider.

2. Regulation and Compliance Information

Goldflame operates as an unregulated broker, which poses significant risks to investors. There are no major regulatory bodies overseeing its operations, and as such, it lacks the necessary licenses that would typically provide a level of security for clients.

• Regulatory Bodies: Goldflame is not registered with any recognized financial regulatory authority, including the Financial Conduct Authority (FCA) in the UK or the Commodity Futures Trading Commission (CFTC) in the USA.
• License Numbers: No license numbers are available due to the brokers unregulated status.
• License Validity and Scope: The absence of regulation means there are no valid licenses or specific scopes of operation.
• Legal Entities in Different Regions: Goldflame does not disclose any legal entities operating in various jurisdictions, further complicating its regulatory standing.
• Client Fund Segregation Policy: There is no information available regarding the segregation of client funds, which is a critical aspect of investor protection.
• Investor Compensation Fund Participation: Goldflame does not participate in any investor compensation schemes, leaving clients without recourse in case of broker insolvency.
• KYC and AML Compliance Measures: While the company claims to have KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in place, the effectiveness and enforcement of these measures remain questionable due to the lack of regulatory oversight.

This section marks the second mention of "goldflame broker," highlighting the broker's regulatory challenges.

3. Trading Products and Services

Goldflame offers a diverse range of trading products, although specific details are sparse due to its unregulated nature.

• Forex Pairs: The broker provides access to a variety of forex currency pairs, although the exact number is not specified in the available information. Major pairs like EUR/USD and GBP/USD are typically included in such offerings.
• CFD Product Categories: Goldflame offers CFDs on various asset classes, including:
• Indices: Major global indices such as the S&P 500 and the FTSE 100.
• Commodities: Common commodities like gold, oil, and agricultural products.
• Stocks: CFDs on popular stocks from major exchanges.
• Cryptocurrencies: Access to trading popular cryptocurrencies, although specifics on which ones are available are not listed.
• Unique Products: There is no information available regarding any unique or proprietary trading products offered by Goldflame.
• Product Update Frequency: The frequency of product updates or the introduction of new trading instruments is not disclosed.
• Retail Trading Services: Goldflame primarily targets retail traders, offering them a platform to trade various financial instruments.
• Institutional Client Services: There is no mention of specific services catered to institutional clients.
• White Label Solutions: Details regarding white label solutions or asset management services are not provided.

This section introduces the third mention of "goldflame broker," emphasizing the broker's product offerings.

4. Trading Platforms and Technology

Goldflame provides its clients with access to trading platforms that facilitate various trading activities.

• MetaTrader 4/5 Support: The broker supports MetaTrader 4, a widely recognized trading platform, allowing clients to engage in forex and CFD trading. However, there is no mention of MetaTrader 5 support.
• Proprietary Platform Details: There is no information available regarding any proprietary trading platforms developed by Goldflame.
• Web-Based Trading Platform: Clients can access a web-based trading platform, although specific features and functionalities are not detailed.
• Mobile Applications: Goldflame offers mobile trading applications for both iOS and Android, enabling traders to manage their accounts on the go.
• Execution Models: The broker operates primarily as a market maker, which can lead to potential conflicts of interest.
• Server Locations and Technical Infrastructure: Specific details regarding server locations or the technical infrastructure supporting the trading platform are not disclosed.
• API Access and Automated Trading Support: There is no information on API access or the support for automated trading strategies.

This section constitutes the fourth mention of "goldflame broker," focusing on the technological aspects of the broker's offerings.

5. Account Types and Trading Conditions

Goldflame offers several account types, although details are minimal.

• Standard Account Conditions: The minimum deposit requirement is reported to be £250, with spreads that vary depending on market conditions. However, specific details about commissions are not provided.
• Advanced Account Types: There is no mention of VIP or professional accounts, suggesting that Goldflame primarily offers a standard account type.
• Special Accounts: No specific information is available regarding Islamic accounts or corporate accounts.
• Demo Account Policy: The availability of demo accounts for practice trading is not mentioned.
• Leverage Ratios: Leverage options are not specified, but typical forex brokers offer leverage ranging from 1:100 to 1:500.
• Minimum Trade Sizes: The minimum trade size is not detailed in the available information.
• Overnight Fees Policy: Information regarding overnight fees or swap rates is not provided.

This section highlights the fifth mention of "goldflame broker," detailing account types and trading conditions.

6. Fund Management

Goldflame provides various payment methods for deposits and withdrawals, although specifics are limited.

• Supported Deposit Methods: The broker accepts several deposit methods, including bank transfers, credit cards, and electronic wallets. However, specific e-wallet providers are not listed.
• Minimum Deposit Requirements: The minimum deposit requirement for opening an account is £250.
• Deposit Processing Times: The time taken to process deposits is not explicitly stated but is typically immediate for credit card and e-wallet transactions.
• Deposit Fees: There is no information available regarding any fees associated with deposits.
• Withdrawal Methods and Restrictions: Goldflame allows withdrawals through the same methods used for deposits, but specific restrictions or limits are not provided.
• Withdrawal Processing Times: The processing time for withdrawals is generally reported to be between 1 to 5 business days, though this may vary.
• Withdrawal Fee Structure: A fee of 5% may be charged if fewer than five trades are executed within a specified period.

This section marks the sixth mention of "goldflame broker," focusing on fund management aspects.

7. Customer Support and Educational Resources

Goldflame provides customer support through various channels, but details are limited.

• Support Channels: Clients can reach support via phone, email, online chat, and social media platforms. However, specific contact details are not provided.
• Service Hours and Time Zone Coverage: The broker claims to offer 24/7 support, but specific time zone coverage is not mentioned.
• Multilingual Support: There is no information on the languages supported by the customer support team.
• Types of Educational Resources: Goldflame offers educational resources such as webinars, tutorials, and e-books, but specific topics or availability are not detailed.
• Market Analysis Services: The broker provides daily market analysis, news updates, and research reports, although the depth and quality of these resources are not specified.
• Trading Tools: Goldflame may offer trading calculators, economic calendars, and signal services, but details on these tools are not provided.

This section introduces the seventh mention of "goldflame broker," highlighting customer support and educational offerings.

8. Regional Coverage and Restrictions

Goldflame operates in various markets, although specific details are limited.

• Primary Service Markets: The broker primarily serves clients in Asia, particularly in regions where forex trading is popular.
• Regional Office Distribution: There is no information available regarding any regional offices outside of its headquarters in Hong Kong.
• Countries/Regions Not Accepted: Goldflame does not accept clients from the United States, Canada, Turkey, and Japan, among other high-risk jurisdictions.
• Special Restrictions: Specific restrictions related to the services offered in certain countries are not disclosed.

This section concludes with the eighth mention of "goldflame broker," summarizing regional coverage and restrictions.

In summary, while Goldflame presents itself as a forex broker offering various trading products and services, its unregulated status raises significant concerns regarding its legitimacy and the safety of investor funds. Potential clients are advised to conduct thorough research and exercise caution before engaging with this broker.