Business
License
The overall assessment of Meta Gold reveals significant concerns regarding its legitimacy and reliability as a forex broker. Multiple sources classify it as an unregulated entity, raising red flags about potential scams and withdrawal issues. Key findings include its lack of regulatory oversight and numerous user complaints about fund withdrawals.
Note: It's crucial to recognize that different entities may operate under similar names across various regions, which can lead to confusion. This review aims for fairness and accuracy by consolidating information from multiple reputable sources.
Category | Rating (out of 10) |
---|---|
Account Conditions | 3 |
Tools and Resources | 4 |
Customer Service and Support | 2 |
Trading Setup (Experience) | 3 |
Trustworthiness | 1 |
User Experience | 2 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding the broker's services.
Founded in 2020, Meta Gold is a forex broker that operates without proper regulation, primarily based in Georgia. It offers a variety of trading services through the MetaTrader 5 platform, which is known for its advanced features and user-friendly interface. The broker claims to provide access to a range of asset classes, including forex, commodities, and indices. However, it has been flagged by regulatory bodies, including the Monetary Authority of Singapore (MAS), which has issued warnings against its operations.
Meta Gold operates in a highly questionable regulatory environment, with no valid licenses from recognized authorities such as the FCA or ASIC. This lack of regulation makes it a high-risk option for traders, as they have no recourse if something goes wrong. According to reports, the broker has been associated with various scams, prompting warnings from regulatory bodies. As noted by Crypto Coin Trace, the MAS has flagged Meta Gold for unauthorized operations, highlighting the risks involved.
The broker accepts various deposit methods, including credit cards and potentially cryptocurrencies, which are often favored by scammers due to their irreversible nature. Users have reported significant difficulties when attempting to withdraw funds, with many complaints indicating that withdrawal requests are either ignored or delayed indefinitely. A review from Scam Helpers emphasizes the importance of immediate withdrawal requests if funds have already been deposited.
Meta Gold has varying minimum deposit requirements depending on the account type. The standard minimum deposit is reported to be around $100, which is relatively low compared to other brokers. However, the lure of low entry costs is overshadowed by the risks associated with dealing with an unregulated broker.
There is little information available regarding any bonuses or promotions offered by Meta Gold. This lack of transparency is concerning, as many legitimate brokers use promotions to attract new clients. The absence of such offerings may indicate a lack of competitive positioning in the market.
Meta Gold claims to offer a diverse range of tradable assets, including 36 currency pairs, commodities, and indices. However, the lack of regulation raises questions about the legitimacy of these offerings. As per WikiFX, the broker's claims are not backed by any regulatory oversight, making it difficult to verify the actual trading conditions.
While specific spread and commission details have not been thoroughly disclosed, user reviews suggest that the costs may not be competitive. The absence of clear information regarding fees is a common trait among unregulated brokers, further adding to the skepticism surrounding Meta Gold.
Meta Gold offers high leverage options, reportedly up to 1:1000, which can attract traders looking for high-risk, high-reward opportunities. However, this feature is often associated with increased risk, particularly when offered by an unregulated broker. According to PediaFX, such high leverage can lead to significant losses, especially for inexperienced traders.
The broker exclusively uses MetaTrader 5 for trading, which is a well-regarded platform in the industry. However, the platform's reputation does not compensate for the lack of regulatory oversight that Meta Gold faces.
Meta Gold does not provide services to several jurisdictions, including the USA and Turkey, further complicating its operational legitimacy. This limitation is often a sign that the broker is attempting to avoid regulatory scrutiny.
Customer service at Meta Gold appears to be limited. While they offer support via email and phone, the quality and responsiveness of this service have been called into question, with many users reporting difficulties in obtaining timely assistance.
Category | Rating (out of 10) |
---|---|
Account Conditions | 3 |
Tools and Resources | 4 |
Customer Service and Support | 2 |
Trading Setup (Experience) | 3 |
Trustworthiness | 1 |
User Experience | 2 |
In conclusion, the Meta Gold review indicates that potential traders should exercise extreme caution. The absence of regulation, coupled with numerous user complaints, suggests that this broker may not be a safe choice for trading. For those considering investing, it is advisable to look for regulated alternatives with proven track records.