GoldRush foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://grggply.com, about the company's legal and temporary regulatory information, the company's address Suite 135, 78 Gawler Place, ADELAIDE SA 5000.
GoldRush Forex Broker
Basic Information
Australia
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Pros
Diverse market instruments, including over 50 currency pairs and cryptocurrencies, allowing for portfolio diversification.
Flexible leverage options ranging from 1:100 to 1:400, which can enhance potential returns for experienced traders.
Proprietary trading software available on multiple platforms (web, iOS, Android), providing convenience and accessibility for traders.
Cons
Suspicious regulatory status, with claims of regulation by ASIC being questioned, raising concerns about investor protection.
Frequent reports of withdrawal issues, indicating potential challenges in accessing funds and liquidity.
Absence of a demo account, limiting the ability for new traders to practice and familiarize themselves with the platform before committing real funds.
GoldRush Forex Broker - Complete Information Guide
1. Broker Overview
GoldRush Global Group Pty Ltd, established in 2022, is a trading entity based in Australia. The company operates as a private entity, providing a range of trading services primarily targeting retail and institutional clients interested in forex and other market instruments. GoldRush broker has positioned itself as a provider of diverse trading opportunities, catering to traders looking for flexibility and access to various financial markets.
The company has made significant strides since its inception, offering over 50 currency pairs, futures, cryptocurrencies, and cryptocurrency CFDs. This diverse product offering allows traders to explore multiple investment opportunities and diversify their portfolios. The GoldRush broker operates under the premise of providing innovative trading solutions, although it has faced scrutiny regarding its regulatory status.
GoldRush's business model focuses on retail forex trading, enabling clients to engage in speculative trading across various asset classes. The proprietary GoldRush trading software is a key component of its service delivery, allowing users to trade from different devices, including web, iOS, and Android platforms.
2. Regulatory and Compliance Information
GoldRush broker claims to be regulated by the Australian Securities and Investments Commission (ASIC). However, this claim has raised suspicions, as it is categorized as a suspicious clone. The regulatory number associated with GoldRush is 666 677 265, but the legitimacy of this license is under scrutiny. The absence of clear regulatory oversight casts doubt on the broker's adherence to industry standards and investor protection measures.
The broker operates without a valid regulation, which poses significant risks to potential investors. It lacks a structured client fund segregation policy, which typically protects clients' funds in case of financial difficulties faced by the broker. Additionally, the broker does not participate in any investor compensation schemes, increasing the risks for clients.
GoldRush implements basic Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures. These measures are essential for maintaining the integrity of the trading environment and ensuring that the broker adheres to international standards. However, the effectiveness of these measures remains questionable given the broker's overall regulatory status.
3. Trading Products and Services
The GoldRush broker offers a wide array of trading products, including:
Forex Currency Pairs: More than 50 currency pairs are available, including major, minor, and exotic pairs. This extensive offering allows traders to speculate on the relative strength and weakness of various economies.
CFDs on Commodities: Traders can access futures contracts across different asset classes, including commodities like gold, silver, and crude oil, which provide opportunities for hedging and speculation.
Cryptocurrencies: GoldRush broker allows trading in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, catering to the growing demand for digital assets.
Unique Trading Instruments: The broker's diverse market instruments enable clients to capitalize on market movements across various asset classes.
GoldRush broker's product offering is regularly updated to include new trading instruments, ensuring clients have access to the latest market opportunities. The broker focuses on retail trading services, providing individual traders with the tools they need to navigate the financial markets effectively.
4. Trading Platforms and Technology
GoldRush broker supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most widely used trading platforms in the industry. These platforms are known for their advanced charting tools, technical analysis capabilities, and automated trading features.
In addition to MT4 and MT5, GoldRush has developed its proprietary trading platform, which is accessible via web browsers and mobile applications for both iOS and Android devices. This platform is designed to provide a seamless trading experience, allowing traders to manage their positions and access the markets from anywhere.
The broker employs an ECN (Electronic Communication Network) execution model, which facilitates direct market access and enhances the trading experience. The technology infrastructure includes robust server locations that ensure low latency and high-speed trade execution.
GoldRush broker also offers API access for automated trading, allowing clients to integrate their trading strategies directly into the broker's system. This feature is particularly beneficial for algorithmic traders who seek to leverage technology for enhanced trading performance.
5. Account Types and Trading Conditions
GoldRush broker provides several account types to cater to the diverse needs of its clients. The standard account conditions include:
Minimum Deposit: The broker does not specify a minimum deposit requirement, which may vary based on the account type selected.
Spreads: The spreads offered by GoldRush broker are competitive, but specific details are not disclosed in the available information.
Commission: The broker does not explicitly mention any commission fees, indicating that trading may be commission-free.
Leverage: GoldRush offers leverage options ranging from 1:100 to 1:400, allowing traders to amplify their positions.
Minimum Trade Size: The minimum trade size varies depending on the account type and trading instrument.
Overnight Fees: Details regarding overnight fees (swap rates) are not provided, which may be a consideration for traders holding positions overnight.
The broker does not offer a demo account, which may deter some traders who prefer to test the platform and trading conditions before committing real funds.
6. Fund Management
GoldRush broker supports various deposit methods, including:
- Bank Wire Transfers
- Credit/Debit Cards
- E-Wallets (specific options are not listed)
The minimum deposit requirement varies by account type, and the broker does not specify a fixed amount. Deposits are generally processed instantly, allowing clients to start trading without delay. However, the broker's policies regarding deposit fees are not clearly outlined.
For withdrawals, GoldRush broker follows similar methods as deposits, with funds typically processed within 1 to 5 working days. The broker does not mention any withdrawal fees, which could be an attractive feature for traders seeking cost-effective trading conditions.
7. Customer Support and Educational Resources
GoldRush broker offers customer support through multiple channels, including:
- Phone Support: +61415517695
- Email Support: support@grggply.com
- Contact Form on the platform for online inquiries.
The broker provides support during standard business hours, but specific time zone coverage is not detailed. GoldRush offers multi-language support, catering to a diverse clientele.
Educational resources include webinars, tutorials, and market analysis services, which aim to empower traders with the knowledge they need to succeed. Daily market analysis, news updates, and research reports are also available, helping clients stay informed about market trends.
Additionally, the broker offers trading tools such as calculators and economic calendars to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
GoldRush broker primarily serves clients in Australia and other regions, but the specific distribution of regional offices is not disclosed. The broker does not accept clients from certain countries, but the exact list of restricted regions is not provided in the available information.
Special restrictions may apply based on local regulations, which could affect the broker's ability to operate in specific jurisdictions. Traders are encouraged to review the terms and conditions before opening an account to ensure compliance with local laws.
In conclusion, the GoldRush broker presents a diverse range of trading products and services, supported by advanced trading technology. However, potential clients should exercise caution due to the broker's questionable regulatory status and the absence of a demo account. As always, thorough research and due diligence are recommended before engaging with any broker.
GoldRush Similar Brokers
Latest Reviews
가인
South Korea
GoldRush platform is exposed as a "comprehensive department store" for various crimes such as civil and criminal closure, fraud, etc. The main contents are as follows. 1. The fact that it closed on September 9, 2024, was exposed on the website, and as a result, the liquidation amount of approximately 90 million won is in an unsettled state. 2. Despite the passage of 5 months, the withdrawal request for a margin of 30 million won has not been fulfilled in 4 attempts. 3. Although a remittance of 13 million won for exchange fees was made, a refund was not made within 24 hours, and the margin was also not settled. 4. An additional verification cost of 10 million won was requested, but it was voluntarily invalidated by the GRG platform. 5. The promise to withdraw a margin of 30 million won was violated a total of 4 times. 6. Due to the problem of "absence of email communication channel" with the company, 100 emails were sent but no replies were received. In addition, problems such as fraud in the existence of the Korean branch and additional cost demands when withdrawing the margin occurred. As a result, serious economic [withdrawal request from family's (spouse) account] and social damage occurred. Please refer to the attached evidence materials and take proactive measures. **Conclusion** GoldRush platform is exposed as a "comprehensive department store" for frequent occurrence of crimes such as closure, fraud, deception, embezzlement, misappropriation, embezzlement, coerced confession, and threats. **Attached materials:** 1. GoldRush closure screenshot (2024.9.09.). 2. Remittance history for exchange fees (approximately 13 million won) and 3 screenshots of dealer background (margin $53,336.65). 3. 4 email replies received / 1 email sent. 4. Copy of family's account in the name of the account.
Exposure
2024-09-10
가인
South Korea
We expose the GoldRush platform company as a comprehensive department store of crimes including civil and criminal fraud. The main contents are as follows: 1. There were 4 breaches of promise for withdrawal of 30 million won in margin after 4 months. 2. Approximately 90 million won in settlement money due to site suspension was not settled. 3. When transferring 13 million won in exchange fees, a refund condition was set within 24 hours, but no refund was made. 4. Request for additional 10 million won in verification fees was invalidated. 5. The promise to withdraw 30 million won in margin was violated 4 times. 6. There were problems such as lack of company email communication window, fraud at the Korean branch, and additional cost demands when withdrawing margin. As a result, the informant is suffering serious economic and social damage. I have attached the relevant evidence, so I request you to take active action. - I expose this as a comprehensive department store of existing crimes, including fraud, embezzlement (theft), embezzlement, breach of trust, torture of hope, and intimidation. **Attached materials** Remittance details of currency exchange fees (approximately 13 million won) and 3 screenshots of dealer background (the deposit of $53,336.35 will be submitted as attached photos at the time of secondary exposure) - 2pp
Exposure
2024-08-18
가인
South Korea
Contents: (1) Delay in margin (margin) withdrawal: I requested withdrawal of 30 million won of margin on March 28th of this year (2024), but {margin of about 73 million won ($53,336.65; account 100276 + exchange fee 13 million won = 86 million won) 10,000 won)}-Until June 11th of this year (2024) _10,000 won, even after 2 months-#Withdrawal request completed (2024.6.03.) In response to the reply--the exact withdrawal expected date is not confirmed--that it will be processed as quickly as possible Even after a week, the deposit has not yet been deposited into the account. (2) Additional cost request: In response to the withdrawal request, there was a request from GRG headquarters to remit two types of additional money of approximately 23 million won, a. “Currency exchange fee” of approximately 13 million won. Request for withdrawal of margin was made on April 5, 2024, but-# refund of exchange fee and account of deposit (margin) have not been fulfilled even after 2 months. b. Request for 10 million won as “verification fund” ( (Dated April 5, 2024) There was a fact that there was a non-compliance and a “loss of effect” treatment at the head office (May 7, 2024), -Accordingly, in protest a. above, GRG Company’s embezzlement, misappropriation, and breach of trust were confirmed. Existence revealed. c. The domestic call center said it would handle it according to the regulations, and - despite the head office providing a reply with no effect (reindicated on May 7-6.03, 2024) - when the funds are ready, they will help with the deposit account. There were only 10 comments saying they would give it ('24.5.02~'24.5.14.) - We are continuously requesting 10 million won as verification funds in item b. above, and -# Withdrawal of the domestic call center as of '24.4.11. There is a precedent for doing so - even after receiving the attached reply from the customer support team - unable to apply for withdrawal - revealing the dissatisfaction of eagerly awaiting the deposit, (3) Financial disadvantage: This investor is not able to receive margin withdrawal in a timely manner, and we emphasize that this investor is being driven out onto the streets at a significant financial disadvantage. #The above facts are considered unfair trading practices. This is the second disclosure (the first was on May 29, 2024). (4) Attachment; - Screenshot of deposit remittance: Currency exchange fee (approximately 13 million won); ’24.4.03-‘24.4.04. - 2 types of dealer background screenshot photos (4 before and after login) - 1 copy of the GRG headquarters reply dated June 3, 2024 (1 sheet)
Exposure
2024-06-11
가인
South Korea
(1) Delay in margin withdrawal: I requested withdrawal of 30 million won of margin on March 28th of this year (2024), but {out of about 70 million won of margin ($53,336.65; account 100276)}_only 2 months have passed until May 29th of this year (2024). Even though the head office said that the withdrawal decision had been made, the account has not been deposited yet. (2) Request for additional costs: In response to the request for margin withdrawal, there was a request from GRG head office to transfer two types of additional amounts, a. - Approximately 13 million won. A remittance was made on April 5, 2024 to withdraw the margin in response to the request for "currency exchange cost", but -# the refund of the exchange cost and the accounting of the deposit (margin) have not been implemented even after 2 months. b.- When I objected to the request for 10 million won as “verification funds” (dated April 5, 2024), there was a reply from the head office (May 7, 2024) that the request was “ineffective.” (3) Financial Disadvantages: This investor is notified that he is suffering significant financial disadvantages (approximately 10 financial institutions demand debt every day) due to not receiving margin withdrawals in a timely manner, and exposes the above unfair trading practices. (4) Attachment; Deposit remittance screenshot photo, dealer background screenshot photo, and one type of reply letter from GR Group headquarters.
Exposure
2024-05-29
金379
South Korea
I was introduced to trade on this platform. In the beginning, deposits and withdrawals were normal. But after half an month, it shows withdrawn, but I didn't receive the money. I found customer service but they didn't give me money. It's totally a scam.
Exposure
2024-04-01
가인
South Korea
GoldRush exposes GoldRush platform as a "comprehensive department store" for 8 types of crimes such as civil and criminal closure, fraud, etc. The main contents are as follows. 1. The fact that it closed on September 9, 2024, was exposed on the website, and even though 4 months have passed, the settlement amount of approximately 90 million won is still unsettled. 2. Even though 8 months have passed, the withdrawal request for a margin of 30 million won has not been executed in 4 attempts, and the withdrawal promise has been violated 4 times in total. 3. Although a remittance fee of 13 million won was sent, the refund was not made within 24 hours, and the margin was also not settled. 4. Although an additional verification cost of 10 million won was requested, GoldRush platform voluntarily invalidated it. 5. Due to the problem of "absence of email communication channel" with the company, more than 100 emails were sent but no reply was received. In addition, problems such as fraud in the existence of the Korean branch and additional cost demands when withdrawing the margin occurred. As a result, serious economic [withdrawal request from a family account], and social damage occurred. Please refer to the attached evidence materials and take proactive measures. **Conclusion** GoldRush platform is exposed as a "comprehensive department store" with a history of 8 types of criminal acts such as closure, fraud, deception, embezzlement, misappropriation, embezzlement, coercion, and intimidation. **Attached materials:** 1. GoldRush closure screenshot (2024.9.10.) 2. Remittance history for exchange fees (about 13 million won) and 3 types of dealer background screenshots (margin $53,336.65) 3. 4 replies to received emails / 1 sent email 4. Copy of a family account in the name of the account holder
Exposure
2024-12-13