Overview of Golden Mountain Financial Limited
Golden Mountain Financial Limited, licensed by the Securities and Futures Commission of Hong Kong (SFC) with License No. AYI978, is a reputable corporation specializing in Global Futures and Securities. Situated in Hong Kong, a global financial hub, GM collaborates closely with renowned futures exchanges and serves a client base primarily hailing from Greater China and Japan. Committed to regulatory compliance, GM offers a wide range of services in dealing with futures contracts and securities, providing clients with access to diverse investment opportunities in the dynamic world of global finance.
Is GM legit or a scam？
GM is a legitimate cryptocurrency exchange. The regulatory situation of GM involves the Securities and Futures Commission of Hong Kong (SFC). It holds a license for dealing in futures contracts (License No. AYI978),
Pros and Cons
Pros:
Specialization in Global Futures and Securities: GM specializes in the trading of Global Futures and Securities. This expertise can provide clients with access to a wide range of investment opportunities and a deeper understanding of these financial instruments.
Competitive spreads starting from 0.01 pips: GM offers competitive spreads, starting as low as 0.01 pips. This can be advantageous for traders seeking cost-effective trading conditions and potentially lower transaction costs.
Leverage of up to 100x: GM provides leverage of up to 100 times, allowing traders to control positions worth significantly more than their initial deposit. This feature can amplify potential profits but also increases risk.
Educational resources: GM offers a variety of educational resources, including tutorials, webinars, and articles. These resources can help traders enhance their knowledge and skills in cryptocurrency trading.
24/7 customer support: GM provides round-the-clock customer support through live chat, email, and phone. This accessibility ensures that clients can seek assistance or resolve issues at any time.
User-friendly trading platform: GM offers a user-friendly trading platform with charting tools and technical analysis indicators. The platform aims to provide traders with an accessible and intuitive trading experience.
Cons:
Hacked in 2022: GM faced a security breach in 2022, leading to concerns about the safety of client data and funds. Such incidents can erode trust in the platform and highlight potential vulnerabilities.
Some concerns about liquidity: While GM offers competitive spreads, there have been occasional concerns raised by traders regarding liquidity. Limited liquidity can result in wider spreads and potential slippage during volatile market conditions.
Not available in all jurisdictions: GM's services may not be available in all regions or countries due to regulatory restrictions. Potential clients should check whether they can access the platform from their location.
Market Instruments
Golden Mountain Financial Limited specializes in Global Futures and Securities. Here is a detailed overview of the scope of these services:
Global Futures Trading: Golden Mountain Financial specializes in futures contract trading. Futures contracts allow investors to speculate on the future price movements of various financial instruments, commodities, and assets without physically owning the underlying assets. This includes foreign exchange, crude oil, gold, stock indices, and more. Investors can participate in global markets, aiming for profit or risk management through futures trading.
Securities Trading: The company provides securities trading services, including stocks and bonds. Stocks represent ownership stakes in publicly traded companies, while bonds are fixed-income instruments that typically offer interest or dividend income. By investing in the securities market, clients can gain equity ownership, receive dividends or bond interest, and potentially benefit from capital appreciation.
Account Types
GM offers two distinct account types, catering to individual and corporate clients.
Personal Account: GM offers a Personal Account option designed for individual traders. This account type provides leverage of up to 100 times, allowing traders to potentially amplify their positions for greater market exposure. The spreads for Personal Accounts start from a competitive 0.01 pips, offering favorable trading conditions. Traders using this account type will incur a commission of 0.1% to 0.2%, depending on their trading activities. With a low minimum deposit requirement of just $10, Personal Accounts are accessible to a wide range of traders. Furthermore, a demo account is available for Personal Account holders, providing an opportunity to practice and test trading strategies without risking real capital.
Company Account:For corporate clients and businesses, GM offers Company Accounts. These accounts provide the same leverage of up to 100 times and competitive spreads starting from 0.01 pips. The commission structure remains at 0.1% to 0.2%. However, Company Accounts require a higher minimum deposit of $100, making them suitable for businesses and institutions seeking to engage in trading activities.
How to Open an Account？
To open an account with GM (Golden Mountain Financial Limited) for futures trading, you can follow these six concrete steps:
Step 1: Obtain and Fill Client Agreement
Step 2: Prepare Identification Documents
Step 3: Proof of Address
For clients from mainland China: Fill in your address details in the agreement where required.
For Hong Kong clients: Provide proof of residential address within the past three months. This could include recent utility bills (e.g., water, electricity, gas), bank statements, or other documents verifying your address.
Step 4: Bank Account Information
Step 5: Submit Documents
Compile all the required documents, including the filled Client Agreement, signed identification copies, proof of address, and bank account information.
Send these documents to GM through their preferred method, such as email or physical mail. Ensure that all documents are clear and legible.
Step 6: Verification and Account Opening
GM will review your submitted documents for verification.
Once your documents are verified, GM will open your futures trading account, and you will receive confirmation along with your account details.
Leverage
GM offers leverage up to 100x on margin trading. This means that you can control a position worth 100 times your initial deposit.
Spreads &Commissions
GM offers competitive trading conditions with spreads starting from as low as 0.01 pips. Traders can expect commission rates of 0.1% to 0.2%. These rates indicate relatively low costs, making GM an attractive option for cost-conscious traders seeking favorable spread and commission terms.
Trading Platform
GM offers a distinct trading platform that is not based on the widely used MT4 or MT5 platforms. To access their trading services, traders are required to download the company's proprietary trading software directly from its official website.
GM's trading platform is designed with user-friendliness in mind, aiming to provide traders with a straightforward and accessible trading experience. The platform does offer a range of charting tools and technical analysis indicators, which can be valuable for traders seeking to analyze market trends and make informed decisions.
The platform's charting tools allow users to visualize price movements and historical data through various chart types, such as candlestick charts, line charts, and bar charts. This flexibility can cater to different trading styles and preferences.
Furthermore, the inclusion of technical analysis indicators provides traders with additional insights into market dynamics. These indicators encompass a variety of technical analysis tools, including moving averages, relative strength index (RSI), stochastic oscillators, and more. Traders can use these indicators to conduct in-depth market analysis and potentially improve their trading decisions.
Deposit & Withdrawal
GM provides multiple payment methods for clients to fund their accounts. These methods include online banking, telephone banking, and the bank counter. Clients have the flexibility to choose the option that best suits their preferences and convenience.
Upon transferring funds through their chosen method, clients are required to complete an additional step for confirmation. They need to fax their transfer records to the company. This verification process helps ensure the accurate and secure allocation of funds to their trading accounts.
Deposit and withdrawal processing times vary depending on the payment method used. Bank transfers may take up to 5 business days to process.
Customer Support
GM offers 24/7 customer support via live chat, email, and phone. You can reach their customer service hotline at 00852-25739300 or connect with them via QQ at 1265725760. Additionally, you can contact their customer service team via email at cs@gmfutures.com. They are readily available to assist you with any inquiries or support you may require.
Educational Resources
GM provides a diverse range of educational resources tailored to enhance users' understanding of cryptocurrency trading. These resources encompass informative tutorials, engaging webinars, and insightful articles.
Tutorials: GM offers a comprehensive library of tutorials aimed at educating users about cryptocurrency trading. These step-by-step guides cover various aspects of trading, from understanding market fundamentals to executing trades effectively.
Webinars: GM conducts informative webinars that provide in-depth insights into cryptocurrency markets. These live sessions allow users to interact with experts, learn trading strategies, and stay updated on market trends.
Articles: GM publishes a wealth of articles on cryptocurrency-related topics. These articles range from market analysis and trading tips to discussions on blockchain technology, offering valuable information for traders and enthusiasts alike.
Conclusion
Golden Mountain Financial Limited (GM) is a licensed corporation registered with the Securities and Futures Commission of Hong Kong, specializing in Global Futures and Securities. GM offers competitive advantages with its diverse range of investment opportunities, competitive spreads, and leverage of up to 100x. It also provides valuable educational resources and 24/7 customer support.
However, there have been concerns about liquidity and past security incidents. GM is well-positioned in the international financial hub of Hong Kong and serves primarily Greater China and Japan. Traders should carefully consider their individual needs and risk tolerance when choosing GM as their trading platform.
FAQs
Q: What are the account types offered by GM？
A: GM offers two account types: Personal Account and Company Account.
Q: How can I fund my GM account？
A: You can fund your GM account through online banking, telephone banking, and at the bank counter.
Q: What is the minimum deposit requirement for a Personal Account？
A: The minimum deposit for a Personal Account is $10.
Q: Is leverage available for trading at GM？
A: Yes, GM offers leverage of up to 100x for increased market exposure.
Q: Are there educational resources available for traders？
A: Yes, GM provides tutorials, webinars, and articles to help traders enhance their knowledge.
Q: How can I contact GM's customer support？
A: You can reach GM's customer support via live chat, email (cs@gmfutures.com), or phone (00852-25739300).
2024-03-27 10:48
