Goose24.com – Broker Review

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Goose24.com

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Goose24.com is a new online trading platform that claims to offer a variety of financial instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. The website boasts of having over 250,000 registered users, a user-friendly interface, competitive spreads, fast execution, and 24/7 customer support. But is Goose24.com a trustworthy broker or a scam?

Regulation and licensing

One of the most important factors to consider when choosing a broker is whether it is regulated by a reputable authority. Regulation ensures that the broker follows certain rules and standards to protect the interests and funds of its clients. It also provides a mechanism for resolving disputes and complaints in case of any issues.

Unfortunately, Goose24.com does not seem to be regulated by any authority. The website does not provide any information about its legal status, registration, or location. The only contact details are an email address and a phone number with a UK country code. However, this does not mean that the broker is based in the UK or authorized by the Financial Conduct Authority (FCA), the UK’s financial regulator.

In fact, we found out that Goose24.com is blacklisted by the FCA as a potential scam. The FCA issued a warning on its website on June 23, 2023, stating that Goose24.com is not authorized to provide financial services or products in the UK and that it may be involved in fraudulent activities. The FCA also advised consumers to avoid dealing with Goose24.com and to report any contact from the broker.

Trading conditions and fees

Another factor to consider when choosing a broker is the trading conditions and fees that it offers. These include the spreads, commissions, leverage, margin requirements, execution speed, slippage, and other charges that may affect your profitability.

Goose24.com claims to offer competitive spreads starting from 0.1 pips on major currency pairs, such as EUR/USD and GBP/USD. However, these spreads are variable and may widen significantly during volatile market conditions or low liquidity. The broker also charges commissions on some of its instruments, such as stocks and cryptocurrencies, which may vary depending on the volume and type of trade.

Goose24.com also offers high leverage up to 1:500 on some of its instruments, such as forex and indices. Leverage allows you to trade with a larger amount of money than you have in your account, which can amplify your profits or losses. However, leverage also increases your risk exposure and may lead to margin calls or liquidation if the market moves against you.

Goose24.com does not disclose any information about its execution policy or order types. It is unclear whether the broker uses a market maker or an STP/ECN model to execute its trades. A market maker acts as a counterparty to your trades and may have a conflict of interest with you. An STP/ECN broker routes your orders to the interbank market or other liquidity providers and charges a commission for its service.

Goose24.com also does not provide any information about its slippage policy or how it handles requotes or rejections. Slippage occurs when the price at which your order is executed differs from the price at which you placed it due to market fluctuations or delays. Requotes or rejections occur when your order cannot be executed at the requested price due to insufficient liquidity or volatility.

 

Goose24.com may also impose other fees or charges on your account, such as inactivity fees, withdrawal fees, conversion fees, swap fees, or rollover fees. These fees may vary depending on your account type, currency, instrument, or activity level.

What to Do If You’ve Lost Money with Goose24.com?

If you have been scammed by Goose24.com 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.