Founded in 2013, Goldland Capital Group offers trading services for over 20 currency pairs, as well as precious metals, commodities, indices on the MT4 platform.
About company. Fund security
The broker claims to have an office in Australia. We could not find a regulator's license on the GCG website, and therefore we turned to the only financial regulator on the continent - ASIC.
We found out that the GCG license is held by Trademax Capital Pty Limited, so we assume that Goldland Capital Group Pty Ltd. acts as an authorized representative.
ASIC checks companies for fraud, the Commission monitors all financial transactions that take place on the continent. In case of violations, the ASIC has full authority to bring unscrupulous brokers to justice.
Experts assess the level of protection of the regulator as “average”. But, despite this, the requirements for obtaining a license are becoming more stringent every year, and many European companies are striving to voluntarily pass the ASIC test in order to prove to investors the transparency of their activities.
Goldland Capital Group (GCG) appears to offer just one account. The broker does not specify their trading conditions either, so we had to test their demo platform.
The minimum deposit to start trading is $ 250. This is not the highest deposit, however many other brokers that are licensed by reputable regulators offer trading even with $ 1.
Spreads and commissions
GCG offers no commission trading with variable spreads, however the average EUR / USD is 3 pips, which is twice as much as most brokers provide for this pair.
GCG clients can use leverage ratios up to 1:00, which is relatively high.
This broker provides the widely used MetaTrader 4 (MT4) platform available for both desktop and mobile versions. The terminal is known for its great charting package, customizable analytical tools, back testing and popular automated strategies - "experts" (EAs). Although its developer MetaQuotes has released a newer version of the software, MetaTrader 5, MT4 continues to be the most popular Forex trading platform.
The broker has an educational department on the site, however, the information provided is clearly not enough for traders. All basic concepts and processes are explained in three sentences.
Communication with the support service is available via mail and by phone: + 61 2 80368388.
Ways of payment
We were unable to find information on the deposit / withdrawal methods supported by GCG. However, we assume that it should allow at least bank transfers and debit / credit card payments.
Criticism of traders
Traders complain about broker withdrawals and poor feedback. The support service does not respond to questions in a timely manner or may completely ignore them. In addition, problems begin with making large deposits. It also looks suspicious that the broker does not indicate its trading conditions. There are many questions left to the broker, we advise you to first study the Goldland Capital Group rating on our website before investing money.
MT4; licensed broker; demo account.
high deposit; does not indicate trading conditions; high spreads; one type of account; complaints from traders.
GOLDLANDCAPITAL_GROUP is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker GOLDLANDCAPITAL_GROUP makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. GOLDLANDCAPITAL_GROUP received a score of 1 of 5 on our resource.