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Gold Line Trade
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The United Kingdom’s Financial Conduct Authority has issued a warning against Gold Line Trade in October 2023
Gold Line Trade is a forex broker that claims to offer low spreads, fast execution, and a user-friendly platform. But is it really a legit and trustworthy broker, or is it a scam that you should avoid?
In this review, we will examine the features, advantages, and disadvantages of Gold Line Trade, and help you decide if it is worth your time and money.
What is Gold Line Trade?
Gold Line Trade is a forex broker that was founded in 2019 and is based in St. Vincent and the Grenadines. It offers trading on various currency pairs, commodities, indices, and cryptocurrencies, with leverage up to 1:500.
According to its website, Gold Line Trade is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, and uses the MetaTrader 4 (MT4) platform as its main trading software.
However, there are some red flags that raise doubts about the legitimacy and reliability of Gold Line Trade. Here are some of them:
- Lack of transparency: Gold Line Trade does not provide much information about its ownership, management, or contact details on its website. It also does not disclose its trading conditions, such as spreads, commissions, or fees.
- Offshore regulation: The FSA of St. Vincent and the Grenadines is not a reputable or strict regulator, and does not offer much protection or oversight to traders. Moreover, Gold Line Trade does not have a license from any other reputable regulator, such as the FCA in the UK, CySEC in Cyprus, or ASIC in Australia.
- Negative reviews: Gold Line Trade has received many negative reviews and complaints from traders who claim that they have been scammed by the broker. Some of the common issues reported are difficulty in withdrawing funds, manipulation of prices, hidden charges, and aggressive marketing tactics.
- No demo account: Gold Line Trade does not offer a demo account for traders to test its services and platform before opening a live account. This is a sign of a lack of confidence and professionalism from the broker.
Based on our research and analysis, we conclude that Gold Line Trade is not a legit or trustworthy broker, but rather a scam that you should stay away from. There are too many risks and uncertainties involved with trading with this broker, and you may end up losing your money and personal information.
What to Do If You’ve Lost Money with Gold Line Trade?
If you have been scammed by Gold Line Trade or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.