GoldmanCFD Review

Is GoldmanCFD a scam or legit broker?

No, it is not safe to trade with GoldmanCFD. GoldmanCFD is owned GOLDMANCFD LTD. which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as YFX Capital, Pinprotrade and more.

GoldmanCFD claims to be one of the leading providers of Online Foreign Exchange (Forex) trading, spread betting companies, and other related services. The company doesn’t provide much information about its location nor regulation. According to the terms and conditions, the company is under the Estonian jurisdiction, however, it is not entitled to operate in Estonia, nor in Europe, or any regulated market in general.

Moreover, Italian regulator CONSOB has blacklisted GoldmanCFD in February 2019:

“The National Commission for Companies and the Stock Exchange has ordered the following company to cease the infringement, consisting of the provision of unauthorised investment services and activities to the Italian public.”

Conclusion

We advise all investors and traders to avoid GoldmanCFD and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets.

GoldmanCFD website is no longer active.