GoldenrodFX-Overview of Minimum Deposit, Leverage, Spreads

General Information

GoldenrodFX is introduced as a trading name of SANTI Goldenrod Ltd, a company registered in Seychelles, but we cant validate this information. The islands are still considered a tax haven suffering transparency issues. In other words, GoldenrodFX is an unregulated broker.

Leverage

The leverage provided by GoldenrodFX is 1:200, which is a dangerous level that can cause significant losses if carelessly used. In fact, leverage is so risky that some financial authorities even decreed regulations to restrict its usage.

Spreads

The trading conditions are highly unfavorable - the EUR/USD spread is usually more than 6 pips, which is 6 times worse than the regulated brokers standards. It is a vast Buy/Sell difference that makes trading costly and significantly reduces profit potential.

Trading Platform

GoldenrodFX offers its clients some kind of a web based trading platform. In this regard, we recommend the industry standard MetaTrader4 or MetaTrader5.

Deposit & Withdrawal

GoldenrodFX specifies maximum deposits instead of minimum ones., which is a pretty uncanny approach. For example, if you open a Beginner Account, you can fund it with no bigger sum than $250. The funding methods are also unknown.

Risk Warning

As of now, the website of GoldenrodFX (https://goldenrodfx.com/) is not available and there is no contact information. We assume that the trader GoldenrodFX might be closed or run away. Please be aware of the risk!