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The WikiFX Score of this broker is reduced because of too many complaints!

GoodTrade Capital

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

http://www.goodtrade.io/english/index.html#

Website

Rating Index

Contact

+1 784 485 6124
cs@goodtrade.io
http://www.goodtrade.io/english/index.html#
First Floor,First St Vincent Bank Ltd Building,James Street Kingstown St. Vincent and the Grenadines
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

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Contact number

English

+1 784 485 6124

Broker Information

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Company Name

GoodTrade Capital LLC

Company Abbreviation

GoodTrade Capital

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 23 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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    GoodTrade Capital · Company Summary

    Key Information Details
    Company Name GoodTrade Capital LLC
    Years of Establishment 1-2 years
    Headquarters Saint Vincent & the Grenadines
    Office Locations Saint Vincent & the Grenadines, Australia
    Regulation Unregulated
    Tradable Assets Forex, Indices, Commodities
    Account Types N/A
    Minimum Deposit N/A
    Deposit/Withdrawal Methods N/A
    Trading Platforms MetaTrader 5
    Customer Support Options Phone Line (English), Email, Physical Mail

    Overview of GoodTrade Capital LLC

    GoodTrade Capital LLC is an unregulated, recently established company operating in Saint Vincent & the Grenadines. They offer trading services in the forex, indices, and commodities markets through the MetaTrader 5 platform. The company is headquartered in Saint Vincent & the Grenadines and has an additional physical office in Double Bay, NSW, Australia for customer support. GoodTrade Capital focuses on providing customer support through phone lines (English), email, and physical mail. It should be noted that GoodTrade Capital does not provide specifics to available account types, minimum deposit, or deposit/withdrawal methods.

    basic-info

    Regulation

    GoodTrade Capital LLC operates without any regulatory oversight. As an unregulated broker, it is important to note that the company does not have a regulatory authority overseeing its activities. This lack of regulation means that there are no specific rules or guidelines imposed on GoodTrade Capital, which could have provided additional oversight and supervision. Without regulatory involvement, the company's operations are not subject to scrutiny or monitoring by an external governing body.

    regulation

    Pros and Cons

    GoodTrade Capital LLC, a recently established company, offers trading services in the forex, indices, and commodities markets. The company provides access to the widely used MetaTrader 5 trading platform, which is known for its advanced features and user-friendly interface. With headquarters in Saint Vincent & the Grenadines and an office in Australia, GoodTrade Capital to cater to a wider range of clientele, as well as providing customer support through phone lines, email, and physical mail.

    One major drawback of GoodTrade Capital is its lack of regulation. Being an unregulated broker, the company operates without the oversight and safeguards that regulatory authorities typically provide. This absence of regulation raises concerns about the level of protection and transparency offered to clients. Moreover, the company's website lacks comprehensive information on crucial aspects such as account types, minimum deposit, leverage, spread, and deposit/withdrawal methods, limiting the clarity and transparency of its services.

    Pros Cons
    Offers a variety of trading services Lack of regulation
    MetaTrader 5 trading platform Limited information on various financial aspects
    Customer support via phone lines, email, and physical mail
    pros

    Market Instruments

    GoodTrade Capital LLC offers forex trading, allowing clients to trade currency pairs, as well as indices and commodities, providing opportunities to speculate on the performance of stock baskets and price movements of tangible goods, respectively.

    Forex: GoodTrade Capital LLC offers forex trading as one of its market instruments. Forex, short for foreign exchange, involves the trading of different currencies. Clients of GoodTrade Capital can engage in currency pairs trading, taking advantage of the fluctuations in exchange rates to potentially profit from their trades.

    Indices: GoodTrade Capital provides the opportunity to trade indices. Indices represent a basket of stocks that measure the performance of a specific market or sector. With access to indices trading, clients can speculate on the overall performance of a group of stocks without having to trade individual stocks.

    Commodities: Another market instrument available through GoodTrade Capital is commodities trading. Commodities refer to tangible goods such as gold, oil, or agricultural products. Clients can participate in the price movements of various commodities, potentially profiting from changes in supply and demand dynamics.

    The following table is a list of the available market instruments of GoodTrade Capital LLC in comparison to other competing brokerages:

    Broker Market Instruments
    GoodTrade Capital LLC Forex, Indices, Commodities
    Alpari Forex, Indices, Commodities, Cryptocurrencies
    HotForex Forex, Indices, Commodities, Cryptocurrencies
    IC Markets Forex, Indices, Commodities, Cryptocurrencies
    RoboForex Forex, Indices, Commodities, Cryptocurrencies
    products

    Lacking of Account Creation

    One notable limitation of GoodTrade Capital LLC is the lack of available information or clarity regarding the account creation process. Without a clear understanding of the account options and associated features, traders may find it challenging to assess whether GoodTrade Capital aligns with their specific trading needs and preferences. This lack of transparency in the account creation process can hinder the trust that traders may place in the company.

    Moreover, the absence of comprehensive information regarding the account creation process may result in inconvenience for traders. Prospective clients who are looking for specific features or account types may need to seek alternative brokerage options that provide more detailed and transparent information. Overall, the limited account creation information diminishes the credibility of GoodTrade Capital and adds an element of inconvenience for traders seeking a clear and streamlined account opening experience.

    Ambiguous Website

    The website of GoodTrade Capital LLC provides limited information regarding account types, minimum deposit, leverage, spread, and deposit/withdrawal methods. The absence of detailed descriptions on these aspects hinders the clarity and transparency of the company's offerings. Potential clients may find it challenging to make informed decisions without clear information about the available account types, their respective features, and any associated requirements or benefits. Additionally, the lack of disclosed minimum deposit amounts and available deposit/withdrawal methods leaves customers unsure about the financial commitments and flexibility they can expect from GoodTrade Capital.

    Moreover, the website does not provide explicit details about the leverage ratios offered, preventing traders from assessing the level of risk involved in their trades. Similarly, the absence of specific information on spreads makes it difficult for clients to gauge the costs associated with their trades accurately. This lack of clarity regarding fundamental trading elements can raise concerns about the company's reputation and may lead potential customers to question its commitment to transparency and customer-oriented practices.

    inaccessible-website

    Trading Platforms

    GoodTrade Capital LLC offers the MetaTrader 5 (MT5) trading platform for its clients. MT5 is a widely recognized and popular platform in the financial industry known for its advanced trading features and comprehensive analytical tools. With MT5, traders can access real-time market data, execute trades, and employ various technical indicators and charting capabilities to analyze market trends. The platform also supports automated trading through expert advisors (EAs) and provides a user-friendly interface, making it suitable for both novice and experienced traders.

    Comparison table of similar brokerage's trading platform options:

    Broker Trading Platforms
    GoodTrade Capital LLC MetaTrader 5 (MT5)
    OctaFX MetaTrader 4 (MT4), MetaTrader 5 (MT5)
    FXCC MetaTrader 4 (MT4)
    Tickmill MetaTrader 4 (MT4), MetaTrader 5 (MT5)
    FxPro MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader
    trading-platform

    Customer Support

    GoodTrade Capital LLC offers customer support through phone lines (English), email, and physical mail, providing clients with direct and written communication channels to address their inquiries and concerns. Specifics on each method are as follows:

    Phone Line (English): Clients can reach GoodTrade Capital LLC's customer support by calling +1 784 485 6124. This dedicated phone line offers direct communication with English-speaking representatives who can provide assistance and address any inquiries or concerns promptly. Additionally, the number +61 413000566 is given as a customer support option, although the linguistic description of the support line is not specified.

    Email: Clients can send an email to cs@goodtrade.io. This email channel allows individuals to communicate their questions, requests, or issues in writing and receive responses from the company's support team.

    Physical Mail: Clients can also choose to reach out to GoodTrade Capital through traditional mail. The physical address for correspondence is 5, 321 New South Head Road, Double Bay, NSW, 2028, Australia. By sending physical letters or documents to this address, clients can engage in communication with the company.

    customer-support

    Customer Feedback

    Based on customer feedback, there are concerns raised regarding the withdrawal process with GoodTrade Capital LLC. Clients have reported difficulties and delays in withdrawing their funds, with customer service providing various reasons that are perceived as diverse excuses. The lack of clear communication and timely resolution has led to a sense of deception and frustration among customers.

    Furthermore, there have been complaints about the company changing withdrawal rules without prior notification, resulting in reduced withdrawal percentages that are not being honored. These customer experiences highlight the challenges faced by individuals seeking to withdraw their funds from GoodTrade Capital and suggest a need for improvement in the company's withdrawal procedures and customer support.

    customer-reviews

    Conclusion

    In conclusion, GoodTrade Capital LLC is a relatively new, unregulated company operating in Saint Vincent & the Grenadines. The company provides trading services in forex, indices, and commodities marketsby access of the MetaTrader 5 trading platform. GoodTrade Capital offers customer support through a phone line (English), email, and physical mail via an additional office in Australia, enabling clients to seek assistance and communicate their concerns effectively.

    However, it is important to note that GoodTrade Capital operates without any regulatory oversight, highlighting a potential risk for traders. The lack of regulation raises concerns about client protection and the transparency of the company's operations. Additionally, the limited information provided on the website regarding account types, minimum deposit requirements, leverage, spread, and deposit/withdrawal methods may cause ambiguity and inconvenience for traders who seek clarity and transparency in their trading experience.

    FAQs

    Q: What market instruments does GoodTrade Capital offer for trading?

    A: GoodTrade Capital provides trading opportunities in forex, indices, and commodities markets.

    Q: What trading platform is available for clients of GoodTrade Capital?

    A: GoodTrade Capital offers MetaTrader 5 (MT5) trading platform.

    Q: How can clients contact customer support at GoodTrade Capital?

    A: Clients can reach GoodTrade Capital's customer support through phone lines (English), email, or physical mail.

    Q: Where is GoodTrade Capital headquartered?

    A: GoodTrade Capital has its headquarters in Saint Vincent & the Grenadines.

    Q: Is GoodTrade Capital regulated by any governing authority?

    A: No, GoodTrade Capital operates as an unregulated broker.

    Q: What information is available about account types and deposit/withdrawal methods?

    A: Detailed information regarding account types, minimum deposit, leverage, spread, and deposit/withdrawal methods is not provided.

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    一期一会342
    more than one year
    The most suitable platform for beginners to learn trading
    2023-01-15 11:50
    1
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    朗朗乾坤216
    more than one year
    The novelty experience of the product is particularly good, and it is a good platform for ordinary people to participate
    2023-01-11 08:03
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