Bibgold Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Risk Control
Business
Very bad, irresponsible, does not handle problems, and shifts responsibility.
Summary: Bibgold has emerged as a notable player in the online trading space, particularly in the gold and silver markets. While it offers a user-friendly trading platform and competitive fees, concerns about regulatory oversight and customer experiences raise important questions for potential investors.
Note: It is essential to recognize that Bibgold operates under different entities in various regions, which may affect user experiences and regulatory compliance. This review synthesizes information from multiple sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 5 |
| User Experience | 6 |
We score brokers based on user feedback, expert analysis, and available data.
Founded in 2013, Bibgold is a trading platform based in Hong Kong, primarily focusing on electronic trading of precious metals such as London gold and silver. The broker is regulated by the Chinese Gold and Silver Exchange Society (CGSE), which lends it a degree of credibility in the market. Bibgold offers trading through the well-known MetaTrader 4 (MT4) platform, which is favored by many traders for its robust features and user-friendly interface. The broker provides access to various financial instruments, including gold, silver, platinum, and palladium.
Regulatory Geography: Bibgold operates under the oversight of the CGSE, which is the primary regulatory body for gold and silver trading in Hong Kong. However, concerns have been raised regarding the effectiveness of this regulation, with some sources labeling it as a "suspicious clone" due to reports of user complaints about fund withdrawals and account management issues (WikiFX).
Deposit/Withdrawal Currencies: The broker supports multiple currencies for deposits and withdrawals, though specific details on available cryptocurrencies were not extensively covered in the sources. The minimum deposit required to open an account is reported to be around $50, making it accessible for new traders (WikiBit).
Bonuses/Promotions: Information regarding bonuses or promotional offers was sparse across the sources. Some reviews mentioned that Bibgold does not offer any bonuses, which is common among brokers focusing on regulatory compliance.
Tradeable Asset Classes: Bibgold primarily allows trading in precious metals, including gold, silver, platinum, and palladium. However, it does not provide access to forex or stock trading, which may limit its appeal to a broader audience (PediaFX).
Cost (Spreads, Fees, Commissions): The fees associated with trading on Bibgold are reported to be competitive, with spreads as low as 0.03% and commissions around 1.5% for gold trades. This transparency in pricing is a positive aspect, as many traders prefer brokers that do not impose hidden fees (FXBotReview).
Leverage: While specific leverage details were not consistently reported, it is essential for potential traders to inquire directly with Bibgold about their leverage offerings, as this can significantly affect trading strategies and risk management.
Allowed Trading Platforms: Bibgold exclusively uses the MT4 trading platform, which is recognized for its reliability and extensive features. However, some reviews indicated that the platform may not be as intuitive for beginners compared to other brokers that offer multiple platforms (WikiFX).
Restricted Regions: There are indications that Bibgold may not accept clients from certain regions, particularly the United States, which could limit its user base significantly. This is an important consideration for prospective traders.
Available Customer Service Languages: Customer support primarily operates in Chinese, which may pose challenges for English-speaking traders. The lack of multilingual support has been highlighted as a drawback in some reviews (PediaFX).
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 5 |
| User Experience | 6 |
Account Conditions (6/10): Bibgold offers a relatively low minimum deposit, making it accessible for new traders. However, the lack of diverse account types and potential regional restrictions could limit flexibility for experienced traders.
Tools and Resources (7/10): The MT4 platform provides a range of tools for technical analysis and trading. However, the educational resources could be more comprehensive, particularly for beginners.
Customer Service and Support (5/10): Customer service has been noted to have language limitations, primarily offering support in Chinese. This could hinder communication for non-Chinese speaking users.
Trading Setup (Experience) (6/10): While the MT4 platform is robust, some users have reported issues with usability, particularly if they are new to the platform.
Trustworthiness (5/10): Regulatory oversight by the CGSE provides some level of trust, but concerns about user experiences and withdrawal issues have been raised, impacting overall trustworthiness.
User Experience (6/10): The user experience has been mixed, with some users appreciating the platform's simplicity, while others have encountered challenges, particularly in customer support and withdrawal processes.
In conclusion, the Bibgold review suggests that while the broker has potential, particularly in the precious metals trading space, prospective traders should approach with caution. It is crucial to conduct thorough research and consider individual trading needs before engaging with the platform.
