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Golden Currencies Review | Boundless Possibilities for Financial Success or a Scam?

by Kevin Berry
Rating: 
  1.1/5   Reviews: 5
Golden Currencies - logo

Step into the world of Golden Currencies, a company that claims to offer boundless possibilities for financial success. From lucrative investment opportunities to exceptional trading conditions, they paint a picture of unrivaled prosperity. However, we are here to uncover the truth behind their lofty promises and reveal the unsettling reality. Stay tuned as we delve into the details and provide evidence that this platform is nothing more than a scam. Don’t miss out on our comprehensive review, coming up next.

Highlights

🏛️ Country Saint Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://golden-currencies.net/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail support@golden-currencies.net
📞 Phone

First Impression of Golden-currencies.net

Prepare yourself for a journey through the official website, a disorganized labyrinth of questionable design choices and frustrating navigation. As you enter their virtual domain, you are greeted with a monstrous mishmash of colors, an overwhelming assault on the senses that leaves you questioning their professionalism. The illogical and convoluted menu structure makes it nearly impossible to find the information you seek.

Golden Currencies - website

Adding to the chaos, mindless animations of coins bouncing around the screen serve no purpose other than to distract and confuse. But the issues don’t stop there. One would expect a reputable broker to provide comprehensive details about their company, its history, and the team behind it. However, Golden Currencies falls short in this regard, offering a bare minimum of information.

Another puzzling aspect is the limited language options available on the platform. With a global market and diverse clientele, one would anticipate a range of language choices. However, the company offers a mere two: Russian and English.

Partnership and Bonuses

During the registration process on the Golden Currencies website, you will notice a field for a promo code, hinting at the existence of a potential partnership or referral program. This is further emphasized by the presence of an invitation section in the user’s personal account. Surprisingly, the broker fails to provide detailed information about their referral program, leaving users in the dark about the potential rewards for inviting new members. It remains unclear what kind of compensation or benefits participants can expect from participating in this program.

Account Opening

The registration process at Golden Currencies follows a standard procedure where users are required to provide their personal information, including name, address, and contact details. However, one notable drawback is that the broker does not verify the email address provided during registration, which raises concerns about the overall security and legitimacy of the platform.

Registration

Moreover, the Client Portal offered by Golden Currencies is extremely subpar, failing to meet basic user experience standards. The provided screenshot showcases a confusing interface that lacks organized functionality.

Golden Currencies - Client Portal

Verification

The standard verification process at Golden Currencies typically involves providing necessary identification documents such as a valid ID card or passport, proof of address, and potentially additional documentation depending on regulatory requirements. The submitted documents are then reviewed by the broker’s verification team to confirm the user’s identity.

Pros
  • Verification is necessary.
Cons
  • It is not specified how long the document checking will take.

Trading Software

Golden Currencies offers only a web trader platform, lacking any downloadable trading software. The available software options provided by the broker have no relevance to actual trading activities. Furthermore, this WebTrader is described by users negatively, highlighting its poor functionality, lack of features, and overall obscurity in the trading community. It is worth noting that the software remains largely unknown to traders in general.

Features Considered Broker TradeCMF  OptiCapital
Demo Account
Mobile App
Own Development

How Can I Trade With Golden Currencies?

Brokers with such limited account options rarely offer anything substantial to their clients, and we anticipate potential disappointment here as well.

All Info About Accounts

Golden Currencies provides a total of 7 account types, with the basic account requiring a minimum deposit of just $250. In addition, clients receive 3 training sessions and analytics with a manager. The Bronze account, on the other hand, requires an initial deposit of $5,000 and offers 10 sessions with an analyst, 3 signals, and the first withdrawal free of charge. The conditions become more advantageous as the account balance increases. For instance, opening a Black account grants unlimited training and analysis sessions with an analyst (although it remains a mystery why experienced traders would need them). It also provides the option for express fund withdrawals, increased trading leverage, and reduced spreads. However, it requires a hefty deposit of $1 million. It is worth noting that the specific leverage and spreads for each account are not disclosed.

Pros
  • Low minimum deposit.
Cons
  • Questionable additional services.

Market Analysis and Education

As we have observed, Golden Currencies offers both analysis and education, but it caters to a different category of traders than is needed. Surprisingly, many brokers fail to recognize that successful investors, who can afford substantial deposits, are not interested in supplementary services such as signals and external analysis. They have long-established their own strategies. However, these offerings are not targeted towards successful investors either. It is merely a marketing tactic to attract unsuspecting newcomers and lure more money from them.

Deposit, Withdrawal, and Fees

Golden Currencies offers various deposit methods, including credit and debit cards, bank transfers, and cryptocurrencies. However, it fails to specify the withdrawal methods available. Additionally, the speed of processing withdrawal requests is not mentioned.

Features Considered Broker Mitrade  TradeCMF
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ❌️️ ❌️️ ❌️️
Crypto Transfers ✔️ ❌️️ ❌️️
Deposit Fee ❌️️ ❌️️ ❌️️
Withdrawal Fee ❌️️ ✔️ ❌️️

How Can I Contact It?

The only contact options provided by Golden Currencies are email addresses and a feedback form. This limited means of communication can be problematic for several reasons. Relying solely on email can result in slower response times and potential delays in resolving issues or inquiries. Besides, the absence of alternative contact methods such as phone or live chat can make it difficult for clients to seek immediate assistance or clarification.

Pros
  • There is an email address.
Cons
  • Limited contact details.

Is Golden Currencies Dangerous?

Certainly, based on the absurd trading conditions alone, we can conclude that it is not worth partnering with this broker. However, we have a few more arguments in store.

How Long Does The Broker Work?

Clients are informed that Golden Currencies started its operations back in 2019. It’s intriguing, but why hadn’t anyone heard of them until 2023? Even reviews and articles about them only appeared a month ago. A domain check using the Whois service revealed that it was created on April 28, 2023. This is the actual date when this scam started operating.

Domain info

The article has been updated. It turned out, that the owners had moved to the new domain. Their website is located now at golden-currencies.net. Moreover, both domains were registered at the same time, April 28, 2023. Hence, the reason for this maneuver is not the expiration time at all.

How Is Golden Currencies Regulated?

The broker conveniently omits any office contacts and fails to disclose its location. However, in the user agreement, it is mentioned that all disputes will be resolved under the jurisdiction of Saint Vincent and the Grenadines. We inferred that the managing company is registered there. However, the company is not listed in the registry. This means it is a completely unregulated broker that doesn’t even exist legally.

Legal data check

Features Considered Broker Nelson Financial Solutions  SeguroFX
European Zone ❌️️ ❌️️ ❌️️
Asian Zone ❌️️ ❌️️ ❌️️
American Zone ❌️️ ❌️️ ❌️️
African Zone ❌️️ ❌️️ ❌️️
Offshore ❌️️ ❌️️ ❌️️

Frequently Asked Questions (FAQ)

How to Trade With Golden Currencies?

You have to register an account, and to go through the verification process. Once your account is verified, you can deposit and start trading.

Is Golden Currencies Legit?

Unfortunately, it is not a regulated or controlled company. It operates without any oversight or regulation.

How Risky Is It?

The absence of oversight means that there are no guarantees of fair practices or the security of your investments. Considering these factors, it is advisable to avoid engaging with this company as it exhibits characteristics of a scam.
Kevin Berry
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Expert Opinion

Alright, folks, let me tell you what I discovered while digging into the downloadable app section there. As I eagerly clicked on that tab, what did I find? AnyDesk and TeamViewer staring right back at me! It hit me like a ton of bricks, and here’s the scoop for those who aren’t in the know. These are shady software tools that scammers, like Golden Currencies, can use to infiltrate your desktop and swipe your personal data. So, if you need any more reasons to avoid these con artists, consider your curiosity satisfied.

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Golden Currencies rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

5 reviews about Golden Currencies

Leo May 30, 2023 - 20:49
It's a bogus broker that won't let you withdraw your funds.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I decided to test their services, but if they had smoothly processed my withdrawal, I would have continued working with them. Unfortunately, things didn’t go as planned.
During registration, Golden Currencies asked me to go through the verification process, which seemed fine. I chose the basic package and deposited $250. They promised a floating spread of 0.5 pips, market execution, and a 1:1000 leverage, which raised my suspicion since it’s unusually high and shouldn’t be the case. Nonetheless, I decided to proceed since I had already deposited the money. I can’t say anything negative about the platform itself since I never got to explore it. After a week of trading, earning $200, I finally decided to test the withdrawal process. I provided my details, and it seemed to be approved. The funds were deducted from my account, but I waited a whole week, and the money never arrived. Support remains silent. In the end, they took my money, but I didn’t receive anything in return.

Reply
Nicholas Romero June 12, 2023 - 13:16
Golden Currencies froze my withdrawal, and I'm at a loss for what to do.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I hadn’t been trading for long, maybe not even a week, when this debacle occurred. I had been delving into trading for the past two months, feeling pretty knowledgeable. I reviewed their terms and conditions, which seemed satisfactory overall. However, when I started trading, I encountered issues with subpar analytical tools and slow execution. The signals provided were unreliable and led to losses. With such trading conditions, I couldn’t even make a profit. I deposited $5,000, and now only $1,000 remains. And then more problems arose. They claimed I did something wrong, preventing me from accessing my funds. What exactly went wrong, I have no idea. The money simply isn’t being released.

Reply
Luke September 19, 2023 - 23:38
I'm at a loss
The level of trust

such a strange site… one day a manager called me and said that I could make a profit on cryptocurrency, just register on the website golden-currencies.com and follow his further instructions… but I was not in the mood for that, although I was driven by interest and after a while I decided to find out what was there, but the site was unavailable… is this some kind of joke?

Reply
Wazzs September 24, 2023 - 01:54
Scammers
The level of trust

Scammers. These guys are fairly clever as there is a similar bonafide company with the same/ similar name. If like me you called them to invest your £250 or £500 then get a call from some dude with a foreign accent, but an English name, that should ring alarm bells straight away.
I then got shifted to a sexy talking Eastern European women named Nadia Sidarova?. We spoke every day for weeks, where she gets you to believe that your earning around £20-30 pounds a day trading currencies, but all along she waiting to gain enough trust so you will make a big £5-7k investment. Cheeky cow tried to get an Asda money loan for £7k on my behalf. Contact your bank asap & report them & hopefully you can get them to grab back your money.

Reply
Draco November 22, 2023 - 20:48
Goldencurrencies

Dealing with a woman Lana trying to register me, they have already changed their website name!

Reply

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