HK Golden Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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I'm really annoyed, I see this company offers MT4, my favorite public trading platform, so I made a deposit here. Unexpectedly, this MT4 is different from the one I have used before! The speed is very slow, and it often crashes, which makes my transaction very difficult and lose money. I hate this company!
Hk Golden, a forex broker operating under the name Hk Golden Crown Trading Ltd., has garnered significant attention in the trading community. However, the overall consensus from various reviews paints a concerning picture regarding its legitimacy and user experience. Key findings indicate a lack of regulatory oversight and high trading costs, raising red flags for potential traders.
Attention: It is crucial to note that Hk Golden operates under different entities across regions, which can complicate its regulatory status. This review aims to provide a fair and accurate assessment based on available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Category | 3 |
How We Rated the Broker: Our ratings are derived from a thorough analysis of user experiences, expert opinions, and factual data regarding Hk Golden's operations.
Hk Golden Crown Trading Ltd. has been in operation for approximately 5 to 10 years, primarily registered in Hong Kong. The broker offers trading services on the widely used MetaTrader 4 (MT4) platform, which is known for its user-friendly interface and robust trading tools. However, it is essential to highlight that Hk Golden is not regulated by any major financial authority, which poses a significant risk for traders.
The broker provides access to a limited range of trading assets, including a handful of currency pairs, CFDs on commodities like gold and silver, and a few indices. The absence of a comprehensive product offering is a drawback, especially when compared to competitors that typically offer a broader selection of assets.
Hk Golden operates without any valid regulatory oversight. According to multiple sources, including WikiFX, the broker claims to be overseen by the National Futures Association (NFA) in the U.S. However, a search of the NFA registry reveals that Hk Golden is not a member. This lack of regulation raises significant concerns about the safety of traders' funds and the overall credibility of the brokerage.
The broker allows deposits and withdrawals through various methods, including Visa, MasterCard, and popular e-wallets like Skrill. However, the absence of clear information regarding withdrawal fees and processing times adds to the uncertainty. A minimum withdrawal amount of $100 is common, but potential hidden fees could further complicate the withdrawal process, as highlighted in Trading-Scam.
Hk Golden requires a minimum deposit of $100, which is relatively low compared to many other brokers that often require at least $250. While this may seem appealing to new traders, the overall lack of transparency regarding account types and trading conditions is concerning.
The broker does not appear to offer significant bonuses or promotions, which is a common practice among more reputable brokers to attract new clients. Instead, the focus seems to be on providing trading services without any added incentives.
Hk Golden offers a limited selection of trading assets, including only 11 currency pairs, CFDs on gold, silver, the HK50 index, and Bitcoin. This limited product portfolio is a significant drawback, especially when compared to other brokers that provide access to a wider range of markets.
The trading conditions at Hk Golden are particularly alarming. The spread for the EUR/USD pair is reported to be around 2.6 pips, significantly higher than the industry average of 1.5 pips. Additionally, a $30 charge per lot adds to the trading costs, effectively raising the total cost to approximately 5.7 pips. This high cost of trading is a major deterrent for potential clients, as noted by ForexBrokerz.
The broker offers a leverage ratio of up to 1:100, which is relatively standard in the industry. However, the risks associated with high leverage should be carefully considered, especially in the context of a broker that lacks regulation.
Hk Golden exclusively supports the MT4 trading platform, which is well-regarded in the trading community for its functionality and ease of use. However, the lack of additional platforms may limit traders looking for more advanced trading options.
While specific information regarding restricted regions is not abundantly clear, the absence of regulatory oversight suggests that traders from various jurisdictions should exercise caution before engaging with Hk Golden.
Customer support appears to be limited, with English being the primary language available. Reviews indicate that customer service is often unresponsive, which raises further concerns about the brokers reliability.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The lack of transparency regarding account types and trading conditions leads to a low rating. Many reviews indicate that traders feel misled regarding the actual costs involved.
Tools and Resources: While the MT4 platform is a strong point, the limited educational resources and market analysis tools detract from the overall offering.
Customer Service and Support: Multiple reviews cite poor customer service experiences, with traders struggling to get timely responses to their inquiries.
Trading Setup: The high trading costs and limited asset selection significantly impact the trading experience, making it less appealing.
Trustworthiness: Hk Golden's unregulated status and questionable claims regarding its oversight severely undermine its credibility.
User Experience: Overall user experience is marred by high costs, poor support, and a lack of transparency.
In conclusion, Hk Golden appears to be a broker fraught with risks. The combination of unregulated status, high trading costs, and poor customer support makes it a less than ideal choice for traders. Potential clients are advised to explore alternative options that offer better regulatory oversight and more favorable trading conditions.
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