Golden Financial Review (2023)

Is Golden Financial a scam or a legit broker?

Golden Financial is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

Golden Financial claims to be one of the world’s largest foreign exchange, precious metals, securities, futures, stock traders. The company is owned and operated by Golden Financial Solutions (Service) Ltd., and according to its website was founded in London, UK – the headquarters of the company.

The broker claims to be regulated by the UK’s Financial Conduct Authority (FCA) and New Zealand’s Financial Markets Authority (FMA). However, we didn’t find any records of the company in the registers of the mentioned regulator and most probably wouldn’t find its license details with any other regulators.

Moreover, New Zealand’s FMA has issued a warning against Golden Financial:

“GFS is not licensed to issue derivative products (CFDs) to New Zealand retail investors; GFS is not regulated in New Zealand as claimed on its websites; GFS could be involved in a scam.”

The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. 

Conclusion

Considering false regulation information provided by the broker and a warning from a reputable authority, we don’t recommend trading with Golden Financial. Investing with a properly regulated broker is crucial for the safety of any investment(See regulated forex brokers list here). Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM, eToro (Read about eToro broker) and XM.com.

You can also share your trading experience with Golden Financial by commenting on this review.

Golden Financial website is no longer active.