XWGold Forex Broker provides real users with 1 positive reviews, 1 neutral reviews and * exposure review!
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The quotation is kind of transparent, ok, I won't deny it. However, they really should improve their mt4 performance, frequent glicthes...
Great and fast service. They made everything easier for me to understand. Would recomend 100%
Summary: Xinwang Gold, a Hong Kong-based forex broker, has garnered a mixed reputation in the online trading community. While it is praised for its customer service and regulatory compliance, concerns about its fee structure and limited asset offerings persist. Notably, the broker operates under the Chinese Gold and Silver Exchange's regulation, which adds a layer of credibility.
Note: It is important to recognize that Xinwang Gold operates in a complex regulatory environment, and the distinctions between various entities may impact user experiences.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 6 |
| Customer Service & Support | 8 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 7 |
| User Experience | 6 |
| Additional Features | 7 |
We rate brokers based on user experiences, expert opinions, and factual data gathered from various sources.
Founded in 2023, Xinwang Gold, or 鑫旺金業有限公司, is a forex broker specializing in precious metals trading. The broker is headquartered in Sheung Wan, Hong Kong, and operates under the regulation of the Chinese Gold and Silver Exchange (CGSE), holding an AA-type market trading license. Xinwang Gold supports trading primarily on the MT5 platform, catering to a range of traders, though it notably lacks MT4 support. The broker focuses on trading spot gold and silver, with a minimum deposit requirement of $100.
Xinwang Gold is regulated by the CGSE in Hong Kong. This regulatory framework provides a degree of safety for traders, but potential clients should be aware of the limitations and scope of this regulation, especially compared to more widely recognized entities like the FCA or ASIC.
The broker allows deposits and withdrawals through various methods, including debit and credit cards, as well as bank wire transfers. However, specific details on the accepted currencies or cryptocurrencies are not clearly outlined in the available resources.
The minimum deposit required to open an account with Xinwang Gold is $100, making it accessible for beginner traders looking to enter the precious metals market.
There is no specific information regarding bonuses or promotional offers available for new clients. This might be a point of consideration for traders looking for additional incentives.
Xinwang Gold primarily offers trading in precious metals, specifically spot gold and silver. However, it does not provide options for forex, commodities, indices, stocks, or cryptocurrencies, which limits its appeal to a broader trading audience.
User feedback indicates that the fee structure remains unclear, which is a significant drawback. While the broker is regulated, the lack of transparency regarding costs may deter potential clients. The absence of detailed information on spreads and commissions adds to this concern.
Xinwang Gold offers a leverage of 1:100 for gold trading. This can amplify potential profits but also increases the risk of significant losses, making it crucial for traders to use leverage judiciously.
The broker supports the MT5 trading platform, which is available in web, desktop, and mobile versions. However, it does not support MT4, which may be a disadvantage for traders accustomed to that platform.
Xinwang Gold does not accept clients from the United States, Singapore, Hong Kong, North Korea, and Iran. This restriction could limit its customer base and may be a consideration for potential traders from those regions.
Customer support is available in multiple languages, with a notable emphasis on providing 24/7 live chat assistance. This is a strong point for the broker, as it enhances the overall user experience.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 6 |
| Customer Service & Support | 8 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 7 |
| User Experience | 6 |
| Additional Features | 7 |
The account conditions at Xinwang Gold are relatively favorable, with a low minimum deposit of $100. However, the unclear fee structure raises concerns about the overall attractiveness of the accounts offered.
While Xinwang Gold provides access to the MT5 platform, which is known for its advanced trading features, the lack of educational resources or trading tools limits the broker's appeal to novice traders.
User feedback highlights the broker's efficient customer service, with many users praising the clear guidance and fast service. The 24/7 live chat option is a significant advantage.
The trading experience on the MT5 platform is generally positive, but users report issues with the platform's performance, particularly regarding frequent glitches. This detracts from the overall trading experience.
Xinwang Gold is regulated by the CGSE, which adds a layer of trust. However, the unclear fee structure and limited asset offerings may cause hesitation among potential clients.
Overall user experience is mixed, with positive feedback on customer service but concerns about platform performance and fee transparency.
The broker offers demo accounts and a range of payment options, which are positive aspects. However, the lack of bonuses or promotions may limit its attractiveness compared to competitors.
In conclusion, while Xinwang Gold presents a viable option for trading precious metals in Hong Kong, potential clients should carefully consider the broker's limitations, particularly regarding fee transparency and the lack of diverse trading options.
