Golden Brokers Review 2023

1.3 / 5
Golden Brokers is #15 in our CFD broker rankings.

Golden Brokers will appeal to traders looking for high leverage up to 1:1000 in return for limited regulatory safeguards. It will also appeal to traders familiar with MetaTrader 5.

- Daytrading Review Team

Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.


Demo Account

Copy Trading

Trade Signals
CFD, Forex, Stocks
Wire Transfer, Credit Card, Debit Card, Neteller, Dragonpay
Forex Trading

Speculate on 60+ major, minor and exotic currency pairs such as EUR/AUD, USD/JPY and EUR/GBP with leverage up to 1:100. Fees are not the most competitive, with average spreads of between 3 and 5 pips for major forex pairs.

Stock Trading

You can speculate on the price of hundreds of shares spanning US, EU and Asian markets. On the negative side, the $20 minimum commission is higher than the best stock brokers.

CFD Trading

Trade 700+ products as CFDs on the powerful MetaTrader 5 platform. Access leverage up to 1:100 on major forex pairs with a 50% stop-out level on the standard account.

✓ Pros

  • Multiple deposit methods including credit/debit card, wire transfer, Neteller and Dragonpay
  • Deposits accepted in all major currencies, though will be converted to USD at current market rates
  • Free demo account available to practise trading risk-free with $100,000 in virtual funds
  • No commission when you trade forex, indices and commodities
  • Some educational content and integrated video tutorials

✗ Cons

  • High trading fees with average spreads of 4 pips for major currency pairs such as the GBP/USD
  • Weak regulatory oversight from the LFSA raises safety concerns
  • No proprietary trading platform or mobile application
  • Reports of customers' funds being withheld
  • No live chat support

This review will discuss the Malaysian-based forex broker, Golden Brokers Ltd. We explore its features with information on the trading platform, available markets, fees, regulation, pros, cons and more. Find out whether to open a live account with Golden Brokers.


Golden Brokers Limited was founded in 2018. It is regulated by the Malaysian financial regulator Labuan FSC and its headquarters is based in Kuala Lumpur, Malaysia. It is not quite a global broker as many major geographical locations such as France, Germany and Switzerland are restricted, which other brokers for forex and all manner of trading cater to.

Trading Platforms

MetaTrader 5

MT5 is a world-leading platform with many tools and instruments that can be customised to help each user carry out thorough technical analysis and manage their positions. MT5 is a further development of the MetaTrader 4 platform, offering greater functionality, faster processes and a more intuitive layout. This platform is available on your web browser and downloadable on Windows and Mac.

MT5 platform features include:


Trading Fees

Golden Brokers offers quite large spreads, with typical rates around 3-4 pips for major currency pairs like GBP/USD and EUR/GBP. Spreads for indices range from 2 to 50 pips, while commodities sit between 0.07 and 14 pips.

No commissions are charged, though there are overnight swap fees on CFD positions, which sit at a 0.5% charge, with a minimum fee of USD 20. Additionally, there is a dormancy charge of USD 100 for accounts that remain inactive for an entire year.

Mobile Apps

Golden Brokers clients can access mobile trading through the MetaTrader 5 application. This can be downloaded for both Apple (iOS) and Android (APK) devices from the relevant stores, boasting much of the functionality of the desktop versions. The app offers all supported order types, account management systems and asset classes, with 24 analysis tools and 30 indicators.

The broker’s website also links to a proprietary application on the Apple App Store and Google Play Store. However, there is no mention of the functionality of the application, except for the fact that 24/5 customer support is integrated. From the images provided, the application seems sleek, with at least line, area and candlestick chart support.

golden brokers limited review 2021
Golden Brokers Mobile Platform

Payment Methods

Users can make deposits to and withdrawals from their Golden Brokers accounts using bank wire transfers, credit cards, debit cards and online payment services like Neteller. Deposits can be made in any currency, though they will be converted to USD. A minimum deposit limit of USD 100 is imposed.


Golden Brokers clients can access leverage for forex pairs, though not for any other assets offered by the broker. All currency pairs have a maximum rate of 1:100, though this is flexible.

Account Types

To open an account with Golden Brokers you will need to provide personal information like your home address and date of birth, as well as income information like annual income and total net worth. Additionally, you must provide documentation showing proof of identity and residence. It is important to note that the broker will only accept transfers of funds from bank accounts listed on the application forms.

Demo Account

Golden Brokers have provided users with the opportunity to practise making trades on their platform and explore the various markets offered with a free demo account. Each account is given USD 100,000 of digital funds to execute forex, commodities, indices and CFD trades in a simulated environment.

Live Accounts

There is a standard live account on the Golden Brokers platform that provides access to the MetaTrader 5 platform and the many financial instruments. There is also the option for an Islamic account, with which users are entitled to 20 calendar days per year that are swap-free.


Golden Brokers is regulated by the Labuan Financial Services Authority in Malaysia with License number MB/19/0030. This means that the company is authorised to conduct its business and must maintain certain industry standards, such as protection of funds, for example. Client funds are kept safe through account segregation with tier-1 banking institutions, meaning that money can be returned if the broker collapses.

Customer Support

The customer service team of Golden Brokers can be contacted via email or telephone, with multilingual support offered, including English, French, German, Chinese and Arabic. The broker can also be contacted on social media like Facebook, LinkedIn, Twitter and the website blog, which are also used for news and announcements.

Additional Features

There is an Education tab on the Golden Brokers website that provides many helpful guides and videos that can be taken advantage of to boost your knowledge and understanding of topics like trading platforms, instruments, CFDs and leverage.

Golden Brokers Verdict

Golden Brokers caters to both new and veteran traders, offering the advanced but intuitive MetaTrader 5 platform alongside a range of educational guides and tutorials. The firm boasts over 100 forex, equity and CFD instruments, which can be traded with 1:100 leverage and low commission charges. However, Golden Brokers does not have the best level of regulation and spreads are not very competitive.


Is Golden Brokers Legitimate?

Golden Brokers Ltd. is regulated by the Labuan Financial Services Authority, with registration number MB/19/0030. This means the broker follows industry rules and regulations to ensure that client accounts are secure and funds are protected.

What Are Golden Brokers’ Trading Hours?

The Golden Brokers trading hours vary depending on which assets you wish to trade. Most forex pairs can be traded 24 hours a day, five days a week, though many commodities, indices and shares are restricted to a few hours per day.

Which FX Currency Pairs Does Golden Brokers Offer?

There are over 60 forex instruments to choose from, including major, minor and exotic pairs. Examples include EUR/CAD, GBP/CHF and USD/JPY.

What Leverage Does Golden Brokers Allow?

Golden Brokers allows a maximum leverage rate of 1:100 for forex trading.

How Can I Contact Golden Brokers Customer Support?

Golden Brokers provides two main channels for clients to seek support: email and telephone. Alternatively, you can try to contact them on one of the official social media accounts on Twitter, Instagram, Facebook or LinkedIn.

Accepted Countries

Golden Brokers accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Payment Methods

Golden Brokers Details

Minimum Trade 0.01 Lots
Regulated By LFSC
Islamic Account Yes
Mobile Apps iOS & Android
Margin Trading Yes
Volatility Index No
Spot Trading No
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Social Trading No
Trade Signals MT5 integrated
Guaranteed Stop Loss No
Stock Exchanges
  • CAC 40 Index France
  • DAX GER 40 Index
  • Deutsche Boerse
  • Euronext
  • FTSE UK Index
  • Hong Kong Stock Exchange
  • Nasdaq
  • New York Stock Exchange
  • SIX Swiss Exchange
  • Oil
  • Silver

CFD Trading Details

FTSE Spread 5
GBPUSD Spread 3
Oil Spread 0.1
Stocks Spread Variable
Leverage 1:100

Forex Trading Details

GBPUSD Spread 3
EURUSD Spread 3
EURGBP Spread 4
Assets 62

Top 3 Alternatives to Golden Brokers

Compare Golden Brokers with the top 3 similar brokers that accept traders from your location.

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade
  3. Scope Markets – Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.
    Go to Scope Markets

Golden Brokers Comparison Table

Compare Golden Brokers With Similar Brokers
Golden Brokers IG Group Just2Trade Scope Markets
Rating 1.3 4.4 3.5 4.2
Markets Forex, Stocks, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds Forex, Stocks, Commodities etc.
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $100 $50
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 lots
Bonus Up to $2,000 for professional accounts 50% Deposit Bonus Up to $50,000. *Bonus promotions do not apply to all entities. Depending on the jurisdiction chosen to open an account with, different regulations apply.
Education No Yes No Yes
Platforms MT5 MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5
Leverage 1:100 1:30 (Retail), 1:250 (Pro) 1:20 1:2000 (location dependent)
Payment Methods 5 6 20 8
Visit Visit Visit Visit Visit
Review IG Group
Scope Markets

Compare Trading Instruments

Compare the markets and instruments offered by Golden Brokers and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Golden Brokers Trading Instruments
Golden Brokers IG Group Just2Trade Scope Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold No Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures No Yes Yes Yes
Options No Yes Yes No
ETFs No Yes Yes Yes
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Golden Brokers vs Other Brokers

Compare Golden Brokers with any other broker by selecting the other broker below.


Customer Reviews

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Golden Brokers is a Malaysian headquartered forex and CFD broker established in 2016. The brand is regulated offshore by the Labuan Financial Services Authority. Retail traders can speculate on 700+ products via the MT5 platform with no commission and a choice of international payment methods.