WikiFX Review: Can Goldenway Global make your money safe?

About Goldenway Global

Registered in the UK, Goldenway Global offers investors a range of trading products, including Forex, Precious Metals, Crude Oil, and Indices. The physical address for this broker is 35 New Broad Street, London EC2M 1NH. Goldenway Global is a subsidiary of Goldenway Group and it claimed to currently hold a straight-through license from the Financial Conduct Authority FCA (license number: 185223). But is that true？

Regulation

According to WikiFX, the regulatory status of the FCA with license number: 185223 held by this broker is Unsubscribed. Therefore, we cannot consider Goldenway Global as a regulated broker. WikiFX has given it a fairly low score of 1.42/10.

Account Type & Leverage

Goldenway Global offers investors two different account types: Standard and VIP Accounts. Standard accounts have a minimum deposit of $200 ($50 for New Zealand residents) and maximum trading leverage of 1:500. VIP accounts have a minimum deposit of $50,000. The base currency of the account is the USD, and if the investor uses other currencies to deposit funds, a certain exchange rate will apply. Additionally, both accounts have a minimum trade size of 1 lot and no micro lots available.

Spreads & Commissions

The spreads on the Goldenway Global platform are pretty high, with an average spread of 1.8 pips on EURUSD, and no commission is charged on foreign exchange transactions.

Trading Platforms

Goldenway Global uses MT4 as its main trading platform, as well as MT4 Desktop and MT4 Mobile. The MT4 is currently the most popular forex trading platform along with the MT5 on the market. With a user-friendly interface, powerful charting tools, and a large number of custom indicators, MT4 is available for automated trading and EA trading, helping traders of all levels to develop different trading strategies and help traders to get ahead in the financial markets.

Deposit and withdrawal

Goldenway Global clients can withdraw funds via credit/debit card, wire transfer, e-wallet, Skrill, and FasaPay. Withdrawals usually take 2 business days.

Exposure related to Goldenway Global on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of Dec 1st, 2022, WikiFX has received about 6 complaints against this broker within 3 months, the biggest problem that clients claimed the most lies in withdrawal rejection.

Field Investigation

1. To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

2. On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

3. WikiFX did make an on-site survey on Goldenway Global in August 2021 and failed to find their office.

Conclusion

We warn you that this broker has a bad track record. It is an unregulated broker with a low score. It is wise to keep your money away from this broker. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.