English

GoldSilver Central foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.goldsilvercentral.com.sg, about the company's legal and temporary regulatory information, the company's address 3 Pickering Street #01-15/16 Nankin Row Singapore 048660.

GoldSilver Central Forex Broker

Basic Information

Registered Region

Singapore

Operating Period

Company Name

GoldSilver Central Pte Ltd

Abbreviation

GoldSilver Central

Company employee

Customer Service Email Address

enquiry@goldsilvercentral.com.sg

Contact Number

+6562229703

Company Website

http://www.goldsilvercentral.com.sg

Company address

3 Pickering Street #01-15/16 Nankin Row Singapore 048660

Facebook

https://www.facebook.com/GoldSilverCentral/

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

AspectDetails Company NameGoldSilver Central Registered Country/AreaSingapore Founded Year5-10 years ago RegulationUnregulated Market InstrumentsGold, Silver, Platinum, Numismatic Coins, Collectibles Fees0.25% trading fee for buying and selling Customer SupportPhone at +65 6222 9703, WhatsApp at +65 8893 9255, fax at +65 6750 4513, or email at enquiry@goldsilvercentral.com.sg Deposit & WithdrawalCash, Internet Banking, PayNow, NETS, Telegraphic Transfer, Personal and Cashier's Cheque Educational ResourcesSimple FAQ, User GuideOverview of GoldSilver Central GoldSilver Central, founded 5-10 years ago and located in Singapore, specializes in trading precious metals such as gold, silver, and platinum. The platform operates without regulatory oversight. Users can trade with a low fee of 0.25% for both buying and selling, and face high distributor fees of 3% for smaller transactions. Payment methods include cash, internet banking, PayNow, NETS, telegraphic transfer, and cheques. Customer support is accessible via phone, WhatsApp, fax, and email.Regulatory Status GoldSilver Central operates without regulatory oversight, meaning it is not monitored by any official financial authority. This lack of regulation can lead to higher risks for investors, as there is no guarantee of protection or adherence to industry standards.Pros and Cons ProsCons Low trading fees (0.25% per transaction)Unregulated Various payment methodsHigh distributor's fees for small trades (3%) No storage fees for unallocated gold and platinumLimited range of trading assets Various customer support channelsBasic educational resources only Pros Low Trading Fees: GoldSilver Central charges a low trading fee of 0.25% per transaction, making it cost-effective for frequent traders.Various Payment Methods: The platform supports multiple payment options, including cash, internet banking, PayNow, NETS, telegraphic transfer, and personal and cashier's cheques, providing flexibility for users.No Storage Fees for Unallocated Gold and Platinum: Users storing unallocated gold and platinum do not incur any storage fees, reducing overall costs.Various Customer Support Channels: Customers can reach support through multiple channels, including phone, WhatsApp, fax, and email, ensuring accessibility and convenience. Cons Unregulated: GoldSilver Central operates without regulatory oversight, potentially increasing risks for investors due to the lack of official monitoring and protection.High Distributor's Fees for Small Trades: The platform charges a high distributor's fee of 3% for small trades between USD 5,000.00 and USD 9,999.99, which can be costly for smaller investors.Limited Range of Trading Assets: Despite offering various precious metals, the overall range of trading assets is somewhat limited compared to other platforms, potentially restricting investment opportunities.Basic Educational Resources: The educational resources provided, such as the Simple FAQ and User Guide, are basic and are not sufficient for users seeking in-depth market analysis or advanced trading strategies.Market Instruments GoldSilver Central focuses on precious metal trading. Their offerings include 514 different gold products and 343 silver products. Platinum is represented by 53 products, while the platform also features 38 items under the GSC Emotionals category and 63 proof coins and collectibles.How to Open an Account？ Visit the Website: Go to the official GoldSilver Central website.Navigate to Account Registration: Find and click on the “Open an Account” or “Sign up” button, located at the top right corner of the homepage. Fill in Personal Details: Complete the registration form with your personal information, including full name, contact details, and email address.Provide Identification: Upload required identification documents, such as a government-issued ID and proof of address, for verification purposes.Agree to Terms: Read and accept the terms and conditions of GoldSilver Central.Submit Application: Submit the completed application form and wait for a confirmation email from GoldSilver Central to finalize your account setup.Spreads &Commissions GoldSilver Central charges various fees for trading and storing precious metals. The Trading Fees for both buying and selling are set at 0.25% of the transacted amount. The Distributor's Fees for buying range from 3.00% for transactions between USD 5,000.00 to USD 9,999.99, down to 2.00% for amounts of USD 100,000.00 and above. For selling, the Distributor's Fee is 3.00% for transactions between USD 5,000.00 to USD 9,999.99, with a flat rate of 1.0% for all amounts. Compared to popular brokers, GoldSilver Central's trading fees of 0.25% are relatively standard, but the distributor fees, particularly for lower transaction amounts, are higher. For example, many brokers typically charge lower percentages or flat fees for larger transactions, making GoldSilver Central's fees more suitable for smaller, frequent traders rather than large, high-volume investors. Additionally, there is a Certificate Fee of USD 50.00 and Storage Fees for pooled allocated silver at 0.95%. Gold and platinum have no storage fees for unallocated accounts.Deposit & Withdrawal GoldSilver Central offers various payment methods for customer convenience. You can make Cash Payments in SGD at their retail store or upon order collection. For online purchases, an advance payment of 20% is required to lock in the order, with the balance payable within five business days. Internet Banking and PayNow provide electronic transfer options, while NETS allows direct debit transactions. Telegraphic Transfer is available for international payments. Personal and Cashier's Cheques are also accepted. For online orders, GoldSilver Central requires a minimum deposit of 20% of the total purchase amount to secure the order.Customer Support GoldSilver Central offers customer support through various channels. Customers can reach them by phone at +65 6222 9703, WhatsApp at +65 8893 9255, fax at +65 6750 4513, or email at enquiry@goldsilvercentral.com.sg. For payment and accounts matters, contact accounts@goldsilvercentral.com.sg. Operating hours are Monday to Friday, 10am to 5.45pm, and Saturday, 10am to 12.45pm. They are closed on Sundays and Public Holidays.Educational Resources GoldSilver Central provides basic educational resources, including a Simple FAQ and a User Guide. The FAQ section addresses common questions about trading, payment methods, and account management, offering straightforward answers to help users navigate the platform. The User Guide provides step-by-step instructions for account setup, trading processes, and utilizing various features. While these resources are helpful for beginners, they can be limited for advanced investors seeking in-depth market analysis or sophisticated trading strategies.Conclusion GoldSilver Central offers a range of advantages, including low trading fees of 0.25% per transaction and various payment methods like cash, internet banking, and PayNow. Additionally, there are no storage fees for unallocated gold and platinum. However, the platform's disadvantages include its unregulated status, which poses potential risks. Distributor fees can be high, reaching 3% for transactions between USD 5,000.00 and USD 9,999.99, and educational resources are limited to a basic FAQ and User Guide.FAQ What is the trading fee for buying and selling？ GoldSilver Central charges a trading fee of 0.25% for both buying and selling transactions. What are the distributor's fees？ Distributor's fees are 3% for transactions between USD 5,000.00 and USD 9,999.99, and 2% for amounts over USD 100,000.00. Selling fees are 3% for transactions between USD 5,000.00 and USD 9,999.99, and 1.0% for all other amounts. Which payment methods are accepted？ The platform accepts cash, internet banking, PayNow, NETS, telegraphic transfer, and personal and cashier's cheques. Are there any storage fees for metals？ There are no storage fees for unallocated gold and platinum, but pooled allocated silver incurs a 0.95% fee. What educational resources are available？ GoldSilver Central provides a basic FAQ and User Guide for educational purposes.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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

GoldSilver Central broker review

Is GoldSilver Central safe or scam

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Goldsilver Central Broker - Complete Information Guide

1. Broker Overview

　　Goldsilver Central Pte Ltd, established in 2011, is a private company headquartered at 3 Pickering Street, #01-15/16, Nankin Row, Singapore 048660. The company specializes in physical bullion trading, focusing on gold, silver, and platinum, providing real-time pricing and a comprehensive range of services. Goldsilver Central broker primarily serves individual investors and institutional clients looking to diversify their portfolios through precious metals.

　　Since its inception, Goldsilver Central has achieved significant milestones, including becoming an authorized distributor for Perth Mint products and a local associate corporate member of the Singapore Bullion Market Association (SBMA). The company has positioned itself as a key player in the Southeast Asian bullion market, offering a variety of services, including bullion trading, storage solutions, collateral loans, and a unique savings accumulation program.

　　Goldsilver Central operates primarily in the retail bullion market, providing clients with the opportunity to buy, sell, and store precious metals. The company's business model emphasizes customer service and education, helping clients understand the benefits of investing in physical bullion.

2. Regulatory and Compliance Information

　　Goldsilver Central operates under the regulatory framework of Singapore but is currently unregulated. The company is compliant with the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019. However, it lacks a specific license number associated with a regulatory body.

　　The company adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures to ensure the security of its operations and the legitimacy of its clientele. This includes verifying the identity of clients and monitoring transactions to prevent illicit activities.

　　Goldsilver Central maintains a policy of client funds segregation, ensuring that customer assets are kept separate from the company's operational funds. However, the absence of an investor compensation fund raises concerns about the protection of client investments in the event of financial difficulties.

3. Trading Products and Services

　　Goldsilver Central broker offers a diverse range of trading products, primarily focusing on precious metals. The company provides access to a variety of forex pairs, although the specific number of currency pairs available is not detailed in the sources.

　　In addition to forex, Goldsilver Central offers Contract for Difference (CFD) products across different asset classes, including indices, commodities, and stocks. The company is also known for its unique savings accumulation program (GSAP), which allows clients to accumulate physical gold, silver, and platinum on a monthly basis.

　　The product offerings are regularly updated, with new items being added based on market demand and client interest. Goldsilver Central caters to both retail and institutional clients, providing tailored services to meet their specific needs.

4. Trading Platform and Technology

　　Goldsilver Central does not support MetaTrader 4 or MetaTrader 5, which are popular trading platforms among forex brokers. Instead, the company has developed its own proprietary trading platform, which is designed to provide a seamless trading experience for users.

　　The trading platform is accessible via a web-based interface, allowing clients to trade from any device with internet access. Additionally, Goldsilver Central offers a mobile application for both iOS and Android users, enabling clients to manage their accounts and execute trades on the go.

　　The broker employs an ECN (Electronic Communication Network) execution model, ensuring fast and transparent trade execution. The company's servers are strategically located to enhance performance and reduce latency, providing clients with a reliable trading environment.

　　Goldsilver Central also supports API access, allowing clients to engage in automated trading strategies and integrate their trading systems with the broker's platform.

5. Account Types and Trading Conditions

　　Goldsilver Central broker provides various account types to cater to different trading needs. The standard account requires a minimum deposit, which is not explicitly stated in the sources, and offers competitive spreads and commissions.

　　For more experienced traders, the broker may offer premium or professional accounts, although specific details about these account types are not provided. Goldsilver Central also offers Islamic accounts, ensuring compliance with Sharia law for clients who require such options.

　　The broker provides a demo account for new traders, allowing them to practice trading strategies without financial risk. Leverage options vary across different products, with specific ratios not detailed in the sources.

　　The minimum trade size and overnight fees are also not explicitly mentioned, but clients can expect standard industry practices regarding these conditions.

6. Fund Management

　　Goldsilver Central supports multiple deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirements vary by account type, but specific amounts are not disclosed in the sources.

　　Deposit processing times are typically swift, with most transactions being completed within one business day. However, any fees associated with deposits are not clearly outlined in the available information.

　　Withdrawals can be made through the same methods as deposits, with specific limitations not provided. Withdrawal processing times are generally within a few business days, and any fees related to withdrawals are not explicitly stated.

7. Customer Support and Educational Resources

　　Goldsilver Central broker provides customer support through various channels, including telephone, email, and online chat. The support team is available during business hours, which are Monday to Friday, from 10 AM to 5:45 PM Singapore time.

　　The broker offers multilingual support, although specific languages are not detailed in the sources. Educational resources include webinars, tutorials, and e-books aimed at helping clients understand the precious metals market and trading strategies.

　　Market analysis services are also available, providing clients with daily updates, news, and research reports to assist them in making informed trading decisions. The broker also offers trading tools such as calculators and economic calendars to enhance the trading experience.

8. Regional Coverage and Restrictions

　　Goldsilver Central primarily services clients in Singapore and the broader Southeast Asian region. The company's physical presence in Singapore allows it to cater effectively to local investors.

　　The broker operates a centralized office and does not have additional regional offices. However, it does provide services to international clients, although specific countries from which clients are not accepted are not mentioned in the available sources.

　　Certain restrictions may apply to clients from countries with specific regulatory limitations, but detailed information on these restrictions is not provided.

　　In conclusion, Goldsilver Central broker offers a range of services and products tailored to meet the needs of precious metal investors. While it operates without significant regulatory oversight, its commitment to compliance and customer service positions it as a viable option for those looking to invest in gold, silver, and platinum in Singapore.

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