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General Information
Broker Name: GoldmanBanc
Broker Type: forex
Country: St. Vincent and the Grenadines .
Operating since year: N/A
Regulation:Unregulated
Address: Suite 305 , Griffith Corporate Centre P.O. Box 1510 , Beachmont Kingstown St. Vincent and the Grenadines .
Broker status: Active
Customer Service
Phone: +(44)2033188243
Email: [email protected]
Languages: english
Availability: 24/7
Trading
Trading platforms: N/A
Trading platform Time zone: N/A
Demo account: N/A
Mobile trading: Yes
Web-based trading: Yes
Bonuses: N/A
Other trading instruments: N/A
Account
Minimum deposit ($): $1000
Maximal leverage: 1:200
Spread: N/A
Scalping allowed: N/A

GoldmanBanc review, GoldmanBanc Review

GoldmanBanc Review: Is The Broker Legit?

Well, every trader dreams of a trustworthy forex broker: the one that is innovative, secure, transparent, and regulated. Everything that GoldmanBanc never was and never will be.

The broker says that it provides traders with access to over 1000 top-class underlying assets with fixed spreads, zero fees, zero commissions, and a top-notch trading platform. Well, what a great lie. Hopefully, you were not seduced by it.

It provides a web-based terminal, not the MetaTrader5 trading platform, and significant leverage of up to 1:200. Furthermore, the website offers a wide range of trading products. However, the required minimum deposit is way above the industry average at USD 1000, and other trading conditions are not disclosed, which is very suspicious. Remember, transparency is key to a healthy brokerage and trader relationship.

GoldmanBanc review, GoldmanBanc Review The offer might seem very attractive, and yet, the first question you should ask yourself when picking up a new broker is whether it holds a legit license, and it could be trusted.

How to suspect a scam broker?

Keep in mind that there are a lot of untrustworthy brokers. Here are some tips for suspecting a scam broker is in action:

  • The broker froze the client’s account.
  • The broker shut down his website.
  • You noticed the broker took the money.
  • Money has disappeared from your account.
  • You cannot log in back into your account.
  • The broker is offering you a bonus.

GoldmanBanc Nonexistent Regulation

First and foremost, GoldmanBanc has been exposed as a scam by the FCA, also known as, Financial Conduct Authority (FCA) in the UK. You can check the warning on the screenshot below:

So that basically means that GoldmanBanc is not a legit broker. Their company – Ozava Partners LTD, is based in St. Vincent and the Grenadines. In fact, it does not hold a legit license by a reliable regulator like the FCA. Logically speaking, this means that the safety of your funds depends entirely on the integrity of the people who operate the website. In the case of the GoldmanBanc brokerage, you should keep your funds as far from them as humanly possible.

GoldmanBanc review, GoldmanBanc Review

Unregulated brokers do not have to report to anyone. Unlike UK and EU regulated brokers, offshore brokers are not required to keep their customers’ funds in a segregated, from their own, trust accounts. To maintain a certain level of operational capital, with which to cover all outstanding payments to traders, to provide negative balance protection, or to allow external audits.

So if you register and deposit your funds with an unregulated, offshore broker like GoldmanBanc, it will be entirely on their mercy, whether you withdraw requests will be canceled this time or not.

GoldmanBanc Review: Deposit and Withdrawal

GoldmanBanc supports the standard Visa and MasterCard, as well as popular e-wallets such as Skrill and Neteller. And besides, according to the latest anti-scam policy adopted by Skrill not long ago, they partner with regulated brokers only, so this is yet another reason for you to check our list of Skrill brokers.

GoldmanBanc review, GoldmanBanc Review

We were not able to not find any troubling provisions in the terms and conditions of the brokerage. Still, we did read that there is a dire trading requirement for the bonus promotion to be eligible for withdrawal. It appears a levy of 10% will be charged on a client’s money withdrawal if he has not achieved a trading turnover of 200 or more. This condition is quite common for scammers.

No legit broker will ever restrict your right to withdraw your personal funds, nor would impose any penalties or levies, as is the case here.

Trustworthy and regulated brokers, on the other hand, will process your withdrawal request within 24 hours.

GoldmanBanc review: Trading Platforms

GoldmanBanc offers a state-of-the-art trading proprietary platform, both available for web and mobile apps. The brokerage does not provide the MT trading platform.

GoldmanBanc: Minimum Deposit and Account Types

The minimum deposit required to start trading with GoldmanBanc is as high as 1000 USD. This is a considerable amount, at least four times the amount most brokers would usually ask.

GoldmanBanc review, GoldmanBanc Review

GoldmanBanc also offers Micro, Classic, Silver, Gold, and Platinum accounts, where the minimum deposit requirements are 5 000 USD, 20 000 USD, and 50 000 USD, respectively. And there is a Platinum account too, about which you will have to talk personally to your account manager.

GoldmanBanc review, GoldmanBanc Review

We should also note that we were not given a chance to open a demo account and check GoldmanBanc trading conditions first hand.

Negative reviews from clients

After surfing throughout the websites, we found hundreds of scammed traders, and here are the most recent ones.

GoldmanBanc review, GoldmanBanc Review

GoldmanBanc review, GoldmanBanc Review

GoldmanBanc: Leverage

GoldmanBanc offers leverage as high as 1:200, and that indeed looks attractive.

But, our advice is to use leverage with caution and to remember that while it could help multiply your funds, it can also quite easily erase them when the market turns against you.

Just bear in mind that to be competitive, spreads should start no higher than 1,5 pips, without a trading commission and with a standard account.

GoldmanBanc Review: What do we think?

The information provided on the website is not sufficient to say that the broker is legit. It is unregulated, has been flagged off by one of the world’s most prestigious financial authorities. GoldmanBanc is a legit scam broker. Keep your funds safe.

We recommend that all traders stay far away from this broker.

GoldmanBanc review, GoldmanBanc Review
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Comments Rating 1 (16 reviews)

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16 Comments

  1. Lachlan Ardill September 22, 2020
  2. Ryan Lysaght September 21, 2020
  3. Isaac Miljanovic September 18, 2020
  4. Natasha Kyte September 17, 2020
  5. Satordi Chenard September 15, 2020
  6. Eden McNulty September 14, 2020

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