Golden Capital FX Review 2023
Golden Capital FX offers multi-asset trading using an STP execution model.
Trade major, minor and cross currency pairs on the MT4 platform.
Trade on popular global indices with spreads from 3.0 pips on the Average account.
Leveraged CFDs are available with variable STP spreads.
- Low minimum deposit
- No demo account
- MT4 integration
- Weak regulatory oversight
- No copy trading
Golden Capital FX (GCFX) is an offshore forex and CFD broker. Registered in St. Vincent and the Grenadines, the mission of the brand is to become one of the best financial brokerages in Latin America with 240+ instruments and 1:500 leverage.
This Golden Capital FX review will cover the different account types and assets available, spreads and fees, safety and security, plus trading platforms and apps. Find out if Golden Capital FX is worth trading with.
- Golden Capital FX offers a narrow range of instruments with limited regulatory oversight
- User complaints also suggest issues withdrawing profits
Golden Capital FX was established in 2016 by founder and director, Ms Daniella Lucia Cervantes Alvarez. The brokerage is headquartered in Peru.
Currently regulated by Saint Vincent & The Grenadines Financial Services Authority, GCFX offers a simple approach to trading for global customers. Day traders can take positions on stock indices, forex, metals and energies on the MT4 platform.
Golden Capital FX provides competitive execution speeds through its STP trading model. With low latency, clients have direct access to the market with no dealing-desk intervention.
Popular Alternatives To Golden Capital FX
Like many forex brokers, Golden Capital FX offers MetaTrader 4. The platform can be accessed directly through the Golden Capital FX client dashboard, with no download requirement.
MT4 is suitable for both beginners and experienced traders. The interface is easy-to-use with simple navigation features including a self-explanatory menu and new order screen.
MT4 has 30+ in-built indicators and its own coding language (MQL4), which allows users to create trading bots and algorithms (Expert Advisors feature). The terminal also has three execution modes, eight order types, market news, trading signals, and can run an unlimited number of charts.
How To Place A Trade
- Click ‘New Order’ in the toolbar menu (or press F9)
- In the new window, enter the order information;
- Symbol – select the asset you wish to trade
- Volume – add the volume to trade (in lots)
- Stop-loss level – optional function to close a trade
- Take-profit level – optional function to close a trade
- Comment – optional function to insert a trade note/reference
- Order type – market execution (instant) or pending order (at a later date/time)
- Select ‘Buy’ or ‘Sell’
Assets & Markets
Golden Capital FX has over 240 instruments spanning indices, currencies and commodities. However, it’s worth pointing out that this is a fairly limited offering versus competitors. There are no cryptocurrency opportunities or direct trading in stocks.
- Indices – 12 indices including S&P500, AUS200 and UK100
- Forex – 45 major and minor currency pairs, including EUR/GBP, GBP/JPY, and USD/CAD
- Commodities – Two precious metals and two energies; Gold, Silver, US Crude Oil and UK Brent Crude Oil
Spreads & Fees
Spreads at Golden Capital FX are only competitive with the Premium and VIP accounts. The Standard profile has fairly high trading fees.
The EUR/USD currency pair is offered at 1.5 pips on the Standard Account, 1.2 pips on the Premium account, and 1 pip on the VIP account. Cross-currency pairs such as the EUR/CHF and GBP/CAD range from 1.1 pips on the Standard account to 0.5 pips on the VIP account.
Global indices range from 3 pips to 1 pip (Standard and VIP profiles) and oil trading has a minimum spread of 0.3 pips for all account types.
Golden Capital FX Leverage
GCFX offers substantial leverage up to 1:500, depending on the asset.
Offshore brokers are not restricted in terms of the leverage they can offer. Still, clients should take a sensible approach to risk management.
Mobile App Review
MetaTrader 4 is available as a mobile app. Day traders can access all order types, view full trading history, and review market news on mobile and tablet devices. The app supports 9 timeframes, 24 analytical objects, and trading signals.
Note, MT4 is not currently available to download from the Apple App Store.
Deposits & Withdrawals
The minimum deposit requirement is $100 for the Standard account.
Golden Capital FX accepts deposits and withdrawals via credit/debit card, bank wire transfer, and Skrill. Deposits can also be made with Bitcoin (BTC) and Tether (USDT), which is an advantage over alternative trading firms.
Deposits and withdrawals can take up to 24 hours to be processed. Third-party charges such as intermediary bank costs may be applicable.
Importantly, customer reviews of GCFX complain about not being able to withdraw their funds, out-of-service customer support lines, and accounts not closing. Some users had to reach out to external bodies for assistance with withdrawing their funds which is a red flag.
Golden Capital FX offers an MT4 demo account to new and existing customers. The practice profile offers flexible leverage and $50,000 in virtual funds.
Basic details must be provided to register; full name, email address, and phone number. Login details will be provided to the listed email address.
Demo accounts are perfect for testing the broker’s services and trading platform before committing and using real funds to trade.
Bonuses & Promotions
There are regular promotions available to new and existing Golden Capital FX clients. The main incentive is the $2 cashback rebate promo.
However, when our experts reviewed the terms and conditions, there is limited information on the accessibility requirements and eligibility.
Golden Capital FX Regulation
Golden Capital FX is regulated offshore by the Saint Vincent & The Grenadines Financial Services Authority (SVGFSA), license number 23172 IBC.
The regulatory body has relaxed joining requirements vs top-tier financial authorities, such as the UK Financial Conduct Authority (FCA). There is no negative balance protection available, for example, which is provided as standard by many reputable brokers. Having said that, Golden Capital FX does keep segregated client funds in tier-1 banks and follows anti-money laundering protocols.
When we used Golden Capital FX, our traders found some basic educational content and trading tools. This includes online webinars and in-person seminars covering industry tips and news. Unfortunately though, the quality and depth of materials are limited vs competitors.
The broker also houses an economic calendar on its website.
Golden Capital FX offers three accounts; Standard, Premium, and VIP. The main difference between the accounts is the pricing structures (outlined above) and minimum deposit requirements.
- Standard – $100 minimum deposit
- Premium – $5000 minimum deposit
- VIP – $50,000 minimum deposit
How To Open An Account
To register with Golden Capital FX, follow the ‘Visit’ button above and select the ‘Open Live Account’ icon on the broker’s homepage.
Complete the basic information to access the client portal. From here you can choose a trading account and deposit funds.
Customer support is available via an online contact form, phone number, and email address. Live chat and WhatsApp is also available.
- Phone number – (+51) 511 748 2277
- Email address – email@example.com
However, we did not receive a response while testing Golden Capital FX’s support channels.
Security & Safety
Golden Capital FX protects deposit information and personal details with SSL certification. High standards of data privacy are also adhered to.
Additionally, MT4 is a secure platform, with data encryption and secure login features such as one-time passwords and two-factor authentication.
Golden Capital FX Verdict
Golden Capital FX offers 240+ instruments on the popular MT4 platform with dedicated account managers and a $100 minimum starting deposit. However, the lack of stock and crypto trading and complaints about user withdrawals do raise concerns. As a result, we would recommend using brokers with better ratings listed below.
Is Golden Capital FX A Scam?
There are some reviews by customers claiming that it is difficult to withdraw funds from GCFX accounts. This paired with limited background information and weak regulatory oversight means traders may want to consider alternative brokers.
Is Golden Capital FX Legit?
Capital Golden FX has negative user reviews and opinions and does not hold a license with a top-tier financial regulator. As a result, we would recommend caution before opening a live account.
Can I Trade Options With Golden Capital FX?
Options trading is not available at Golden Capital FX. Clients can trade forex, commodities, and indices only.
Is Golden Capital FX Halal?
Golden Capital FX does not offer a halal trading account and doesn’t offer any explicitly halal stocks or indices.
Does Golden Capital FX Have A Mobile App?
No, Golden Capital FX does not have a proprietary mobile app, but MT4 is available to download to mobile devices.
Does Golden Capital FX Have A WebTrader?
Yes, GCFX customers can open the MT4 WebTrader. The browser-based terminal is available on the broker’s website.
Is Golden Capital FX A Good Broker?
Golden Capital FX is not a top-rated broker. There is a relatively short list of tradable instruments and concerns about clients receiving their profits. See our list of alternative trading firms below.
Golden Capital FX 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.
Golden Capital FX Details
|Minimum Trade||0.01 Lots|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Auto Trading||Expert Advisors (EAs) on MetaTrader|
|Guaranteed Stop Loss||No|
CFD Trading Details
|FTSE Spread||3.0 (Standard)|
|GBPUSD Spread||1.5 (Standard)|
|Oil Spread||0.3 (Standard)|
Forex Trading Details
|GBPUSD Spread||1.5 (Standard)|
|EURUSD Spread||1.5 (Standard)|
|EURGBP Spread||1.1 (Standard)|
Top 3 Alternatives to Golden Capital FX
Compare Golden Capital FX with the top 3 similar brokers that accept traders from your location.
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
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
Interactive Brokers – Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
Go to Interactive Brokers
Golden Capital FX Comparison Table
|Golden Capital FX||IG Group||Just2Trade||Interactive Brokers|
|Markets||Forex, Indices, Metals, Energies||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||$100|
|Regulators||SVGFSA||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||CySEC, NFA, FINRA, Bank of Russia||SEC, FCA, IIROC, SFC|
|Bonus||Cashback||–||Up to $2,000 for professional accounts||–|
|Platforms||MT4||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||AlgoTrader, OmniTrader, eSignal, TradingCentral|
|Leverage||1:500||1:30 (Retail), 1:250 (Pro)||1:20||1:50|
Compare Trading Instruments
Compare the markets and instruments offered by Golden Capital FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|Golden Capital FX||IG Group||Just2Trade||Interactive Brokers|
Golden Capital FX vs Other Brokers
Compare Golden Capital FX with any other broker by selecting the other broker below.
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|Golden Capital FX offers multi-asset trading using an STP execution model.|