Is GOLDENFXM a scam?

By Goutam Behera, from United States, January 24, 2021 at 05:59 AM

I had opened an account. When it is the time to withdraw funds from earnings made, there is no response from the company. One of the telephone no on their website is not in service. The pictures of their executives have no details, etc. Is this a scam company? Thank you,

Answer: Hi Goutam Behera,

GOLDENFXM is an unregulated Forex broker that claims to be located in the UK, however, they do not provide any information about company’s regulation and it actually does not exist. This is the reason why we always ask traders to avoid unregulated brokers and do a proper research before investing. The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity.

We couldn’t find any information about this broker online, which usually means it is a new company with no reputation. You definitely should at least stop trading and investing more to your account as there is a small chance of withdrawing the deposited funds. We would recommend you to report about this case to your local financial regulator.

Leave a Reply

Your email address will not be published. Required fields are marked *