Swiss Gold FX Forex Broker

Note: Swiss Gold FX is to operate via the website - https://www.swissgoldfx.io/, which is currently not yet functional and no information about the company was immediately available. 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 Regulation No Regulation Market Instrument Forex, Commodities, Indices, Crypto, Stocks Account Type Silver, Gold and Platinum Demo Account yes Maximum Leverage 1:200 Spread (EUR/USD) Under 1 pip Commission N/A Trading Platform MT4/Web Minimum Deposit $250 Deposit & Withdrawal Method credit cards and wire transfers Swiss Gold FX is allegedly a forex broker registered in Bulgaria that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and floating spreads under 1 pip on the MT4 and web-based trading platforms via 3 different live account types. As for regulation, it has been verified that Swiss Gold FX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.25/10. Please be aware of the risk. Market Instruments Swiss Gold FX advertises that it offers access to a wide range of trading instruments in financial markets, including Forex, Commodities, Indices, Crypto, and Stocks. Account Types Apart from demo accounts, Swiss Gold FX claims to 3 types of trading accounts, Silver, Gold and Platinum, with minimum initial deposit requirements of $250, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The defaulted leverage provided by Swiss Gold FX on the demo web-based trading platform is 1:200. 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. Spreads It has acceptable spreads under the 1 pip for FX majors like the EURUSD at Swiss Gold FX. Trading Platform Available The platform available for trading at Swiss Gold FX is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and a web-based platform. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal Swiss Gold FX accepts deposits via credit cards and wire transfers. The minimum initial deposit requirement is said to be $250. Withdrawals are subjected to withdrawal processing and handling fees, which will be deducted from the transferred withdrawn amount. Bonuses & Fees Swiss Gold FX also claims to offer some bonuses. However, it is only available to traders who can execute the inhuman requirement of achieving a turnover worth 25 times their deposit and the issued bonus. If you did not log in and trade from your account within 3 months, your account will be subject to a deduction of 10% each month. Customer Support Swiss Gold FXs customer support can be reached by telephone: 442080890220, email: support@swissgoldfx.io. Company address: Bulgaria, Town of Ruse 7000, Region Ruse; Municipality of Ruse 10, Obzor street. Pros & Cons Pros Cons • Multiple asset classes and account types to choose from • No regulation • Demo accounts available • Website inaccessible • Tight EUR/USD spreads under 1 pip • High minimum initial deposit requirement ($250) • MT4 supported Frequently Asked Questions (FAQs) Q 1: Is Swiss Gold FX regulated？ A 1: No. It has been verified that Swiss Gold FX currently has no valid regulation. Q 2: Does Swiss Gold FX offer demo accounts？ A 2: Yes. Q 3: Does Swiss Gold FX offer the industry-standard MT4 & MT5？ A 3: Yes. Swiss Gold FX offers MT4 and a web-based trading platform. Q 4: What is the minimum deposit for Swiss Gold FX？ A 4: The minimum initial deposit to open a Silver account is $250, while $5,000 for a Gold account and $10,000 for a Platinum account. Q 5: Does Swiss Gold FX charge a fee？ A 5: Like every forex broker, Swiss Gold FX charges a spread fee. It also charges unspecified withdrawal processing and handling fees. Q 6: Is Swiss Gold FX a good broker for beginners？ A 6: No. Swiss Gold FX is not a good choice for beginners. Although it offers demo accounts on the MT4 platform, it lacks legitimate regulation and its website is currently inaccessible.