Introduction
We take a look at Golden FXM in this review, covering everything from their regulation and platforms, to the instruments and ratings they offer.
About Golden FXM
Golden FXM is an online broker that provides access to the global financial markets for retail and institutional investors. The company offers a variety of online trading platforms, including the popular MetaTrader 4 (MT4) platform, as well as a mobile trading app. Golden FXM also provides a selection of educational resources to help traders learn about the markets and develop their trading skills.
In terms of regulation, Golden FXM is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The company is also a member of the Investor Compensation Fund (ICF), which provides protection for clients’ funds up to €20,000 in the event that the broker becomes insolvent.
When it comes to the range of instruments available for trading, Golden FXM offers forex pairs, CFDs on commodities, indices, stocks, and ETFs. Spreads start from just 0.0 pips on the ECN account type, with leverage up to 1:500 available. Minimum deposit requirements are also low at just $100 for the Standard account and $500 for the ECN account.
Finally, in terms of ratings, Golden FXM has received some positive reviews from independent sources such as Forex Peace Army and Trustpilot. The company has also been recognised by various industry awards over the years, including “Best Newcomer” at the 2018 UK Forex Awards and “Best Customer Support” at the 2019 MENA Forex Expo Awards.
Regulatory Bodies
In the world of online trading, it is important to choose a broker that is reliable and regulated. Golden FXM is a broker that is registered with the Financial Conduct Authority (FCA), one of the most respected regulatory bodies in the industry. This means that Golden FXM is held to high standards of conduct and must adhere to strict financial regulations.
Golden FXM offers a variety of platforms and instruments for traders to choose from. All of these platforms and instruments are highly rated by users and experts in the industry. Golden FXM also offers excellent customer support, which is available 24/7.
Types of Accounts
There are three types of accounts available through Golden FXM. The first is a standard account, which requires a minimum deposit of $500 and gives access to all the features of the platform. The second is a VIP account, which requires a minimum deposit of $5,000 and gives access to exclusive features and benefits not available to standard account holders. The third is a corporate account, which requires a minimum deposit of $25,000 and gives access to even more exclusive benefits and features.
Trading Platforms
There are a few different types of trading platforms that you can use when you trade with Golden FXM. The first is the MetaTrader 4 platform, which is a very popular platform that is used by many different brokers. This platform is very user-friendly and has a lot of features that can help you make money trading.
The second type of platform that you can use is the WebTrader platform. This platform is also very user-friendly and has a lot of features that can help you make money trading.
The third type of platform that you can use is the mobile trading platform. This platform is very convenient because you can trade on the go. You can use this platform to trade on your smartphone or tablet.
All of these platforms are very user-friendly and have a lot of features that can help you make money trading.
Instruments Traded
The foreign exchange market is the largest and most liquid market in the world, with over $5 trillion traded daily.1There are a variety of different instruments that can be traded on the FX market, including spot contracts, forwards, currency swaps, and options.2
Spot Contracts
A spot contract is a binding agreement between two parties to buy or sell a certain amount of a currency at the current market price.3 The transaction is typically settled within two business days, and delivery of the currency takes place immediately.4
Forwards
A forward contract is an agreement to buy or sell a certain amount of a currency at a specified price on a future date.5 Unlike spot contracts, which are settled immediately, forwards are not settled until the specified date.6 This type of contract allows for hedging against currency fluctuations in the future.7
Currency Swaps
A currency swap is an agreement between two parties to exchange different currencies at predetermined rates for an agreed upon period of time.8 This type of transaction is typically used by companies to minimize exposure to currency fluctuations.9 Currency swaps can also be used for speculative purposes.10
Options
An option is a contract that gives the holder the right but not the obligation to buy or sell an underlying asset at a specified price on or before a certain date.11 There are two types of options: call options and put options.12 Call options give the holder the right to purchase an asset at
Commission and Fees
One of the most important things to consider when choosing a forex broker is the commissions and fees charged for trading. Golden FXM charges very competitive fees, with a minimum commission of only $3 per trade. There are no hidden fees or unexpected charges, so you can be sure that your trading costs will be clear and transparent.
The GoldenFXM platform is designed for both beginner and experienced traders. The user-friendly interface makes it easy to navigate, while the advanced features give experienced traders the tools they need to succeed.
Customer Support
Customer support is one of the most important aspects of any broker. You want to be able to get in touch with someone when you have issues or questions, and you want to know that they will be resolved in a timely manner.
Golden FXM has excellent customer support. They have 24/7 live chat and email support, as well as a phone number that you can call during business hours. I had no problems getting in touch with someone when I needed to, and my issues were quickly resolved.
I was also impressed with the knowledge and professionalism of the customer support staff. They were able to answer all of my questions, and they did so in a way that was easy to understand. Overall, I was very pleased with the customer support from Golden FXM.
Education Center
The GoldenFXM Education Center is designed to provide traders with the information and tools they need to succeed in the foreign exchange market. The center offers a variety of resources, including tutorials, webinars, and e-books.
The tutorials cover topics such as forex basics, trading strategies, and technical analysis. The webinars are led by experienced traders and offer insights on a variety of topics, including market analysis, risk management, and trading psychology.
The e-books offer in-depth coverage of topics such as fundamental analysis, trading psychology, and risk management. In addition to the educational resources, the GoldenFXM Education Center also provides access to a demo account so that traders can practice their skills in a risk-free environment.
Final Thoughts
As we come to the end of our Golden FXM review, we wanted to take a moment to share some final thoughts. Overall, we were impressed with the broker’s offering. They are a regulated broker with a good selection of platforms and instruments, and their ratings are solid.
We believe that Golden FXM is a great option for those looking for a reliable and reputable broker. They offer a great package of features and benefits, and we think they are definitely worth checking out.