Unveiling the Dark Side of GOLD-TRADE: A Forex Fraudster
A thorough examination of the broker's website can reveal unexpected insights about its legitimacy. In the realm of Forex, one such broker that has recently come under the radar is GOLD-TRADE. The online presence of this broker is barely noticeable, and the design appears to be hastily put together. The website is riddled with textual inaccuracies, irrelevant external links, and, alarmingly, lacks any credible company information. It's a daunting task to locate any legal documents, registration details, or contact information for customer service on the site. GOLD-TRADE doesn't have its trading platform, instead, it prompts users to download an obscure application for stock market operations. Mobile trading is relatively underdeveloped, and the internet is brimming with negative reviews indicating that GOLD-TRADE is a potential scam.
Company History and Reputation
The company has been around for just over a month and has already secured a spot on the blacklist of major international registrars. Its operations are not regulated, with numerous reports of payment defaults. Clients are disgruntled over the unprofessional conduct and services restricted to Swiss registered users.
Unethical Practices and Misconduct
GOLD-TRADE has been caught red-handed manipulating news and engaging in technical deception. The company lacks a properly structured user agreement, disregards contracts, and imposes hidden charges. Its employees are often the ones initiating contact, incessantly calling from various numbers. The company does not disclose any financial reports, and it's near impossible to reach their customer service. Risks are not communicated, and the quotes significantly deviate from the market. GOLD-TRADE is a scammer, swindling money and disregarding the ethical principles of the market. Client data is unprotected, leaving it susceptible to malicious entities. Payment security is also questionable due to the suggested use of unfamiliar systems.
Red Flags Indicating GOLD-TRADE as a Scammer
Apart from the poorly designed website and lack of registration, the company engages in "cold" calls, persistently dialling clients from an array of numbers. It also resorts to email spamming and social media solicitation.
The company's conduct is overly aggressive and intrusive. Customer service is unresponsive, and there is psychological pressure from the staff.
Here are several reasons why opening an account with GOLD-TRADE is unadvisable:
- Unbelievably low percentage rates.
- Absence of fixed commissions.
- Orders are executed with delays.
- Transactions can be automatically cancelled.
- Additional charges are levied that are not specified in the contract.
- The website is unsearchable.
- User agreement issues.
- The brand surfaced a month ago.
- Price manipulations.
- Concealed documents.
- Almost all services are only available to Swiss registered users.
- Unregulated operations.
- Instant profit promises.
- Pushy behaviour.
- Publication of false statistics.
The broker violates existing standards, fails to process payouts, and has an unsavoury reputation.
Conclusion: GOLD-TRADE is a Scammer to be Avoided
The company can hardly be called legal, as there is no evidence to verify the legality of its operations. There is an abundance of negative reviews about the service, accusing it of dishonesty and non-payment. To inflate its ratings, the broker uses bots to publish generic positive reviews. It is concerning that the company's history is full of gaps and inconsistencies.
The company's registration cannot be verified, but it is already known to periodically manipulate prices, create artificial demand, and generate false signals for investors. Although the broker offers a credit lever, its terms are rather ambiguous.
GOLD-TRADE is a scammer, regularly publishing false data and fictitious analytical reports, misleading traders. Furthermore, it employs "spoofing," creating the illusion of price drops, simulating futures orders, and thereby generating artificial demand. GOLD-TRADE withdraws funds, fails to inform about risks, and suggests using unverified payment systems.