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Goldman Markets Review | A solid brokerage company or scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 2
Goldman Markets - logo

Goldman Markets — the name sounds solid, doesn’t it? It almost makes you want to believe that it’s part of the well-known Goldman Sachs, but don’t get too excited just yet. The company’s website is filled with promises of zero commissions, instant withdrawals, and AI-driven analytics. However, where are the real facts? Where are the licenses and clear registration details? There are more questions than answers. Are we dealing with yet another scam hiding behind a big name? Positive reviews shouldn’t be trusted — they might be fake.

Highlights

🏛️ Country Switzerland
⚠️ Regulation
🖥️ Website https://goldmanmarkets.net/
🎲 Demo Account No
⏳ Start Time 2024
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:600
⚙️ Trading Platform WebTrader
📨 E-mail support@goldmanmarkets.email, legal@goldmanmarkets.email
📞 Phone +41717793387

First Impression of Goldmanmarkets.net

The official website looks exactly like those of many fraudulent brokers. We can confidently say that the creators of this platform used a ready-made template but made their own tweaks and updates. Let’s take a closer look at Goldman Markets.

The design looks outdated, with that dull blue-and-white color scheme that doesn’t inspire trust but rather reminds you of cheap, fake websites. Everything is too “sterile”, yet at the same time, it looks clumsy and soulless. Instead of specifics about trading conditions, licenses, or even office addresses, you get a bunch of meaningless marketing slogans and fluff. “Trust us”, and “The best platform” — sounds nice but means absolutely nothing. Goldman Markets hides the most crucial information about itself.

Goldman Markets - site

There’s a ton of text, but it’s completely useless. Everything on the Goldman Markets site is written in the style of “we’re the best, choose us”, but there’s nothing concrete about commissions, deposit methods, or security guarantees. You read through it and realize there’s a lot of words, but no real substance.

Then there are the typical stock photos of people in suits shaking hands and smiling ear to ear while looking towards the future. It all looks so artificial that you can’t help but think — something’s off here. If the broker is truly serious, why does it need all this pomp and showmanship? The Goldman Markets website doesn’t give off a sense of reliability; rather, it feels like a typical trap for naive beginners.

All in all, our review started with an obvious discovery — a templated website with minimal useful information and a maximum number of red flags pointing to a scam.

Partnership and Bonuses

Unlike many illegal firms, Goldman Markets actually provides details on its bonuses and affiliate program. Usually, brokers don’t say much about this. To withdraw bonus funds, you need to meet unrealistic turnover requirements — 50,000 times the bonus amount. If you don’t meet the target within 90 days, the money is simply canceled with no refund. And if you try to withdraw funds earlier, the bonus will be deducted, and any profit made from it will be annulled. Essentially, this isn’t a benefit for traders; it’s a way to trap them, keeping their deposits locked in for as long as possible.

The affiliate program at Goldman Markets isn’t any better. They promise stable income for bringing in friends, but the payout conditions are vague. If one of your referrals decides to withdraw funds, your commission can simply be canceled. In the end, the affiliate program benefits the broker, not the trader. Serious companies don’t lure clients with aggressive marketing, but here, everything is designed to hook naive beginners with flashy promises instead of real opportunities.

Account Opening on Goldmanmarkets.net

Could there be any positive aspects in the personal account? To create one, users are required to provide their first and last name, country of residence, phone number, email, and password. In general, Goldman Markets has kept it simple.

Registration

However, after submitting a registration request, the response received was: “We have received your request, see you soon!” Are managers going to review the registration request? What’s the point of this? Why not allow users to create an account instantly and then, if necessary, contact Goldman Markets staff?

All of this looks highly suspicious. Reputable and honest companies allow users to register freely without staging a show with approvals and manager interactions. Goldman Markets operates exactly like most other fraudulent brokers.

Verification

The verification process and AML & KYC policies at Goldman Markets, to put it mildly, are confusing. To withdraw funds, clients are required to submit a pile of documents: a passport, proof of address, and a copy of their bank card. Moreover, the broker reserves the right to request additional documents and even conduct video identification. All of this seems like an attempt to make life as difficult as possible for clients, dragging out the withdrawal process.

Additionally, the AML policy terms are vague, and the broker can refuse withdrawals at any time without explanation, citing “internal checks”. In reality, the entire system works more against the client than for their security.

Pros
  • Goldman Markets has standard verification requirements.
Cons
  • Long and complicated verification procedure with possible additional requests.
  • No timeframes for the processing of documents are specified.

Trading Software

The company’s trading platform is nothing special. Although we were unable to register and see the terminal firsthand, Goldman Markets does offer a look at it without requiring a personal account.

Platform

Take a closer look — it’s a primitive platform lacking many features and capabilities, such as:

  • Auto-trading and copy trading.
  • Mobile applications and desktop programs.
  • The ability to upload custom indicators and setting templates.

The list of shortcomings could go on and on. Goldman Markets offers a terminal that is only suitable for opening and closing positions. It is completely unsuitable for advanced analysis. Yet, the broker describes its terminal as the best and most convenient. Of course, that’s a lie. There isn’t even a demo account available.

Features Goldman Markets Landson Financial Holding SA London Partners Ltd
Demo Account
Mobile App
Own Development

How Can I Trade With Goldman Markets?

So far, there hasn’t been anything positive about this company. Next, we’ll take a look at the trading conditions, but it’s unlikely we’ll find any advantages — rather, another batch of drawbacks and suspicious details.

All Info About Accounts

Goldman Markets offers five account plans. Clients can supposedly choose the option that fits their budget and goals, but in reality, the plans are designed to extract as much money from traders as possible, offering questionable “privileges” in return. Deposits start at $250, but to get somewhat reasonable conditions, you’ll need to invest tens or even hundreds of thousands of dollars. Here are the account types available:

  1. Pioneer — The basic account with a minimum deposit of $250. The only benefits include access to an educational academy, an introduction to the platform, and a cryptocurrency wallet. Spreads start at 3.0 pips, and leverage is up to 1:30. Essentially, this is an account for beginners who are promised support, but in reality, the functionality is cut down to the bare minimum.
  2. Standard — Requires a $10,000 deposit, in return for which the trader gets a personal manager and slightly lower spreads — starting at 2.4 pips. The leverage remains the same at 1:30, which is quite low for active trading. In reality, it’s an overpayment for a manager who is unlikely to offer more value than freely available educational materials.
  3. Pro — Designed for those willing to invest $50,000. This plan includes additional educational materials on professional tools from Goldman Markets, webinars, and better spreads — starting from 1.9 pips. However, leverage increases to 1:400, which already poses significant risks for inexperienced traders.
  4. Pro+ — Starts at a $100,000 deposit. On top of the previous “bonuses”, it adds priority processing of withdrawal requests and access to exclusive events. Spreads start at 1.2 pips, while leverage remains at 1:400. No unique features, just flashy promises.
  5. Stellar — The most expensive plan, requiring $250,000 or more. Allegedly, it offers phone signals, ultra-tight spreads starting from 0.6 pips, and a maximum leverage of 1:400. In reality, it’s the same service as the previous plan, just with an inflated price tag.

Interestingly, Goldman Markets can’t seem to settle on a leverage limit. In some places, it’s listed as 1:400, while in others, it jumps to 1:600. However, the bigger issue is that such high leverage levels come with enormous risks and are banned by many reputable regulators. This suggests that the broker is either unaware of these regulations or simply doesn’t hold any valid licenses.

Pros
  • A variety of extras are promised.
Cons
  • $250 is a high starting deposit.
  • Huge leverage.
  • No mention of a demo account, swap-free, and ECN.

Market Analysis and Education With Goldmanmarkets.net

Essentially, all additional services were already described in the account plans. However, Goldman Markets does provide some free tools for clients: news updates, e-books, a glossary, an FAQ section, and an asset index. These are basic features that every forex broker offers, so our review’s subject doesn’t stand out among the many similar platforms.

Deposit, Withdrawal, and Fees

As for supported payment methods, everything is standard: credit/debit cards, bank wire transfers, and crypto. The problem lies in withdrawal processing times. Goldman Markets mentions that clients may have to wait up to 7-10 business days to receive their funds, which is excessively long. Additionally, there’s a withdrawal fee of 1%, with a minimum of $30 and a maximum of $300. This further makes the platform less attractive for cooperation.

Features Goldman Markets Finance Advisory AG Marketrocks
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️ ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

If you want to contact Goldman Markets’ managers, the company provides two email addresses and a Swiss hotline number. Their office is supposedly located in Switzerland, but we have yet to verify this claim.

Interestingly, while the contact details seem real, there are still some missing elements. Firstly, where is the live chat option, which is crucial for quick issue resolution? Secondly, why is there no presence on social media?

Pros
  • Two emails and a phone number are listed.
Cons
  • No online chat.
  • No social media accounts.

Is Goldman Markets Dangerous?

There is no doubt that this broker poses a significant risk to traders. So many red flags, and we haven’t even touched on the legal address and licensing yet. Let’s dive into that now.

How Long Does The Broker Work?

Goldman Markets only pretends to have been in the market for a long time and to have extensive experience. For example, they claim to have 50,000 clients across 13 countries. Why is this a lie? Because their website was only registered on November 26, 2024. Just two months have passed since the domain goldmanmarkets.net was created — how could they achieve such impressive results in such a short period? It’s obviously fake.

Domain

How Is Goldman Markets Regulated?

Why is there no mention of a license on the website? The reason is clear: the broker doesn’t have one. A regulated company wouldn’t be allowed to offer leverage of 1:400-1:600, as it’s prohibited by reputable financial authorities. A Swiss-based company would need a license from the Swiss regulator FINMA, but Goldman Markets is nowhere to be found in the list of regulated forex brokers.

FINMA

The explanation is simple — the legal address in Switzerland is fake. We tried to find Goldman Markets in the country, but we couldn’t. It doesn’t exist in any legal registries. The scammers are lying about their headquarters in Switzerland.

Business Name Index

This proves the fraudulent nature of the platform. No license, a fake legal address, and only two months of actual operation. This confirms our suspicions about Goldman Markets’ reliability. There’s no security here.

Features Goldman Markets Entrust Capital Limited DUNBAR TRADE & INVEST
European Zone
Asian Zone
American Zone
African Zone
Offshore

How to Trade With Goldman Markets?

To start trading here, you need to register. After entering your details, a request is sent, and you have to wait for a response from the managers. How to complete the registration without this step remains unknown.

Is Goldman Markets Legit?

We’ve already discovered that their legal address is fake, and we’ve also confirmed that the company is lying about having 50,000 clients. Since the broker doesn’t have a license, it means they are operating illegally.

How Risky Is It?

Trading with pseudo-brokers like Goldman Markets always carries a 100% risk. Scammers will do anything to lure clients with money and then steal it.
Kevin Berry
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Expert Opinion

Even the name says it all. Who in their right mind would name their business Goldman Markets? Only scammers looking to exploit the reputation of a well-known brand to deceive inexperienced traders out of their money. On top of that, the fraudsters actively post fake positive reviews — not just on their website, but also on other platforms. So be careful — don’t fall for those sugary, too-good-to-be-true comments. They are fake.

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Goldman Markets 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

2 reviews about Goldman Markets

GGgome December 16, 2024 - 08:54
An obvious scam
The level of trust

Here’s a textbook example of a scam broker. These anonymous fraudsters even use the name GOLDMAN MARKETS. Hahaha. No license, a fake legal address, and they even post fake reviews about themselves. It’s complete nonsense. There are just too many red flags in one place. I don’t know what else to say. It should be obvious to everyone that this is a fraudulent trap.

Reply
Scooter January 30, 2025 - 14:10
Scammers managed to scam me out of $3K....
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Goldman Markets is a nightmare… I haven’t been able to withdraw my money from goldmanmarkets.net for a whole month. The scammers managed to scam me out of $3,000… I didn’t have any more… now they are completely ignoring me and won’t approve my withdrawal… Honestly, I’ve already come to terms with losing my money because I realize there’s no way to get it back… That’s why I want to warn everyone — goldmanmarkets.net is a fake and a scam…

Reply

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