GOLDSTONE Forex Broker

Goldstone Forex Broker - Complete Information Guide

1. Broker Overview

Goldstone is an offshore forex broker that is primarily registered in the United Kingdom. The company operates under the name GSau Global Limited and has been in the trading business for approximately 2 to 5 years. Although the exact founding date is not specified, it is known to have established itself in the forex trading market in recent years.

The headquarters of Goldstone is located at 7 Bell Yard, London, England WC2A 2JR. As a private entity, Goldstone focuses on providing retail forex trading services to individual clients and traders across various regions. Its primary market includes forex trading, with a specific emphasis on currency pairs, commodities, and indices.

The company has faced challenges in building a reputable presence in the trading industry. Reports indicate that Goldstone has been associated with clone firms and has received multiple complaints regarding withdrawal issues, leading to a questionable reputation among traders. The lack of a functional website further complicates its credibility, as potential clients are unable to access essential information about its services and trading conditions.

Goldstone operates under a business model that focuses primarily on retail forex trading. The firm offers its clients access to a range of trading instruments, including forex pairs, commodities, and indices, while utilizing the widely recognized MetaTrader 4 (MT4) platform for trading activities.

2. Regulatory and Compliance Information

Goldstone operates without proper regulation, which raises significant concerns for potential investors. The broker claims to be licensed by the Australian Securities and Investments Commission (ASIC) under a cloned license number 338674. However, this license is considered suspicious and has been revoked, indicating that Goldstone does not hold valid regulatory approval.

The lack of regulatory oversight means that Goldstone does not adhere to the stringent requirements set by financial authorities, which include the segregation of client funds and participation in investor compensation schemes. This absence of regulatory compliance can expose traders to higher risks, as there are no established protections in place.

In terms of compliance measures, Goldstone has not demonstrated a commitment to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which are essential in ensuring the integrity of financial operations and protecting against fraudulent activities.

Given these factors, it is crucial for traders to exercise caution when considering Goldstone as a trading partner, as the absence of regulatory protection can significantly increase the risk of financial loss.

3. Trading Products and Services

Goldstone primarily focuses on providing a variety of trading products, particularly in the forex market. The broker offers access to over 95 forex currency pairs, allowing traders to engage in the buying and selling of different currencies. Major currency pairs typically include EUR/USD, GBP/USD, and USD/JPY, among others.

In addition to forex trading, Goldstone also provides Contract for Differences (CFDs) on various asset classes, including indices, commodities, and cryptocurrencies. The availability of such products allows traders to diversify their portfolios and capitalize on different market opportunities.

While Goldstone claims to offer a range of trading instruments, the specifics regarding the frequency of product updates and the introduction of new trading options remain unclear. The company appears to have limited offerings, which may not cater to the diverse needs of all traders.

For retail clients, Goldstone provides trading services that focus on individual traders seeking to engage in forex and CFD trading. However, there is no clear indication of services tailored for institutional clients or white-label solutions, which may limit the broker's appeal to a broader market.

4. Trading Platforms and Technology

Goldstone supports the MetaTrader 4 (MT4) trading platform, which is widely recognized in the forex industry for its user-friendly interface and advanced trading capabilities. MT4 allows traders to access real-time market data, execute trades, and utilize a range of technical analysis tools to inform their trading decisions.

While Goldstone does not appear to offer the newer MetaTrader 5 (MT5) platform, the availability of MT4 provides traders with essential functionalities, including automated trading through Expert Advisors (EAs). This feature enables users to implement trading strategies without the need for constant monitoring of the markets.

The brokers technological infrastructure, including server locations, has not been disclosed in the available information. This lack of transparency may raise concerns about the reliability and speed of trade execution, which are critical factors for active traders.

Additionally, Goldstone does not provide specific details regarding API access or support for automated trading solutions, which could be a drawback for algorithmic traders seeking to implement sophisticated trading strategies.

5. Account Types and Trading Conditions

Goldstone offers various account types to cater to different trading preferences, although detailed information on each type is limited. The standard account conditions typically include:

• Minimum Deposit: The minimum deposit requirement is reported to be as low as $20, making it accessible for new traders.
• Spreads: The broker offers floating spreads, which vary depending on market conditions, but specific figures for spreads have not been disclosed.
• Commissions: Information regarding commission structures is vague, with indications that commissions may apply to certain trades.

For advanced traders, Goldstone may offer specialized account types, such as VIP or professional accounts, although details are not explicitly provided.

The broker supports a range of leverage options, but the maximum leverage offered is not clearly defined. Traders should be cautious with high leverage, as it can amplify both profits and losses significantly.

Goldstone also provides a demo account option, allowing prospective traders to practice their strategies without risking real capital. This feature is beneficial for those looking to familiarize themselves with the trading platform and market dynamics.

6. Fund Management

Goldstone supports multiple deposit methods, including bank transfers and credit card payments. However, specific details regarding supported payment methods are not extensively covered.

• Minimum Deposit Requirements: The minimum deposit varies based on the account type, with some reports indicating a minimum of $20 to open a live trading account.
• Deposit Processing Time: The processing time for deposits has not been explicitly stated, which may lead to uncertainty for clients wishing to fund their accounts promptly.
• Deposit Fees: Information on deposit fees is limited, and potential traders should inquire directly with the broker for clarity.

Withdrawal methods and restrictions are also not well-defined. Reports suggest that clients have faced difficulties in withdrawing funds, raising concerns about the broker's reliability.

• Withdrawal Processing Time: Similar to deposits, the time taken for withdrawals has not been specified, adding to the uncertainty surrounding fund management.
• Withdrawal Fees: The fee structure for withdrawals is unclear, which could impact traders' overall profitability.

7. Customer Support and Educational Resources

Goldstone provides customer support through multiple channels, including phone, email, and online chat. However, the effectiveness of customer support has been called into question, with reports indicating unhelpful responses from staff.

• Support Channels: Clients can reach out via:
• Phone: 4009933977
• Email: service@goldstone.com
• Service Hours: The specific hours of operation and time zone coverage have not been disclosed, which may affect clients' ability to receive timely assistance.

Goldstone claims to support multiple languages, but the exact languages offered have not been specified. This could limit accessibility for non-English speaking clients.

In terms of educational resources, Goldstone appears to provide limited offerings. There is no clear indication of the availability of webinars, tutorials, or other educational materials that could assist traders in improving their skills and knowledge.

Market analysis services, including daily analysis and research reports, are also not clearly outlined, which may hinder traders' ability to make informed decisions based on market trends.

8. Regional Coverage and Restrictions

Goldstone primarily serves clients in the United Kingdom and potentially other regions, although specific details on market coverage are limited. The company has not provided extensive information about regional offices or their distribution.

• Countries Served: The broker appears to cater to a global clientele, but specific countries or regions where services are available have not been disclosed.
• Countries Not Accepted: There is no clear list of countries or regions from which clients are not accepted, but potential traders should verify their eligibility before attempting to open an account.

Conclusion

In summary, Goldstone is an offshore forex broker that faces significant challenges regarding its regulatory status and overall credibility. The lack of a functional website, combined with multiple complaints regarding withdrawal issues, raises red flags for potential investors. While Goldstone offers a range of trading products and supports the popular MT4 platform, the absence of regulatory oversight and transparency in its operations makes it imperative for traders to exercise caution when considering this broker. It is advisable to explore alternative brokers with more established and trustworthy reputations in the industry.