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

GOLDAY PRECIOUS METALS

Hong Kong|2-5 years|
Regulated in Hong Kong|Type AA License|White label MT4|The server is only located in China.|High potential risk|

https://vip.golday99.com/#&slider1=5

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
Golday-Demo MT4
Server Location China

Contact

+852 3758 2228
cs@golday9999.com
https://vip.golday99.com/#&slider1=5
香港九龙尖沙咀广东道9号海港城港威大厦第六座1605-06 室
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Chinese (Simplified)

+852 3758 2228

Broker Information

More

Company Name

香港金盛贵金属有限公司

Company Abbreviation

GOLDAY PRECIOUS METALS

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts
Previous Detection : 2024-04-16
  • The number of the complaints received by WikiFX have reached 19 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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    GOLDAY PRECIOUS METALS · Company Summary

    Topic Information
    Registered in Hong Kong
    Regulated by Hong Kong Gold & Silver Exchange (CGSE)
    Year(s) of establishment 2-5 years
    Trading instruments Gold, silver, platinum, palladium
    Account Types VIP Account, Standard Account
    Minimum Initial Deposit $200
    Minimum lot size 0.05 lots
    Minimum spread Varies based on account type and instrument,e.g.London Gold VIP Account: $25 per contract
    Trading platform GOLDAY PRECIOUS METALS APP, MT4
    Educational Resources Market interpretations, industry encyclopedia, news
    Customer Service Phone, fax, email, online chat

    Overview of GOLDAY PRECIOUS METALS

    GOLDAY PRECIOUS METALS is a legitimate company specializing in the trading of precious metals, such as gold, silver, platinum, and palladium. Regulated by the Hong Kong Gold & Silver Exchange (CGSE), they operate within established guidelines and standards, ensuring transparency and accountability. The company offers VIP and Standard account options, a professional trading platform (including MT4), and convenient deposit and withdrawal processes. Clients have access to educational resources and market analysis to make informed trading decisions.

    basic-info

    Is GOLDAY PRECIOUS METALS legit or a scam?

    GOLDAY PRECIOUS METALS is a legitimate company regulated by the Hong Kong Gold & Silver Exchange (CGSE). The CGSE is a prominent precious metals trading platform in Hong Kong, overseen by the Hong Kong Monetary Authority (HKMA) to ensure compliance with financial regulations.

    Being registered with the CGSE signifies that GOLDAY PRECIOUS METALS operates within the established guidelines and standards set by the regulatory authority. This regulatory oversight helps to safeguard the interests of investors and ensures transparency and accountability in the company's operations.

    However, it is always recommended to exercise due diligence when engaging in any financial transactions or investments. If you have specific concerns or require further information about GOLDAY PRECIOUS METALS, it is advisable to conduct additional research or seek professional advice to ensure the legitimacy and credibility of the company.

    regulation

    Pros and Cons

    The company is regulated by the Hong Kong Gold & Silver Exchange (CGSE), which adds credibility and assurance to their operations. This regulatory oversight ensures that the company adheres to established guidelines and standards, providing investors with transparency and accountability. Additionally, GOLDAY PRECIOUS METALS offers a diverse range of precious metals for trading, including gold, silver, platinum, and palladium.Another advantage of GOLDAY PRECIOUS METALS is the availability of VIP and Standard account options, each offering competitive benefits. Traders can choose the account type that suits their preferences and trading requirements. The company also provides a popular trading platform, MT4 (MetaTrader 4), which is widely recognized and trusted by traders worldwide.

    However, there are a few drawbacks to consider. GOLDAY PRECIOUS METALS provides limited information on leverage options, which may be important for traders who seek to amplify their potential returns. Additionally, the spread rebate for the Standard Account is slightly lower compared to the VIP Account, which may impact trading costs for some traders. It's also worth noting that the company only accepts deposits in USD, limiting account currency options. Furthermore, deposits from third parties are not accepted, which may inconvenience certain individuals. Finally, it's important to be aware of any complaints or negative feedback from the market, as this can provide insights into potential issues or concerns that others have encountered.

    Pros Cons
    Regulated by CGSE Limited information on leverage options
    Diverse range of precious metals for trading Spread rebate slightly lower for Standard Account
    VIP and Standard account options with competitive benefits Limited account currency options (only accepts USD)
    Availability of popular trading platform, MT4 Deposits from third parties not accepted
    No commissions charged on trades Complaints on the Market
    Access to educational resources and market analysis
    Convenient deposit and withdrawal processes

    Market Instruments

    GOLDAY PRECIOUS METALS provides market instruments such as London Gold and London Silver. London Gold allows for bi-directional operations, enabling investors to buy or sell gold based on market conditions. With 24/7 trading availability, investors have the flexibility to engage in transactions at any time. This market instrument requires a low investment, making it accessible to a wide range of traders. Additionally, London Gold offers the potential for high returns, attracting investors seeking opportunities in the gold market.

    Similarly, London Silver, offered by GOLDAY PRECIOUS METALS, also allows for bi-directional operations. Investors can buy or sell silver with ease and take advantage of price movements. The 24/7 trading hours provide convenience and flexibility, enabling investors to react promptly to market changes. With low investment requirements and the potential for high returns, London Silver presents an opportunity for investors looking to diversify their portfolios and participate in the silver market.

    products

    Account Types

    GOLDAY PRECIOUS METALS offers two types of accounts for trading London Gold (XAU) and London Silver (XAG): VIP Account and Standard Account.

    The VIP Account is designed for traders who seek enhanced benefits and privileges. To open a VIP Account, a minimum deposit of $200 is required. Traders with a VIP Account enjoy various advantages, such as a higher spread rebate of $25 per lot for London Gold and $38 per lot for London Silver. This means that for each lot traded, a certain amount is credited back to the trader as a rebate, effectively reducing the trading cost. The VIP Account also offers the same minimum trading volume of 0.05 lots as the Standard Account. Additionally, the overnight interest rates for buying and selling positions are set at 1.75% for both London Gold and London Silver.

    On the other hand, the Standard Account is suitable for traders who prefer a more standard trading experience without additional VIP benefits. The opening deposit requirement for a Standard Account is also $200. With a Standard Account, traders receive a slightly lower spread rebate compared to the VIP Account, receiving $15 per lot for London Gold. The spread rebate for London Silver is not specified. The minimum trading volume for the Standard Account is the same as the VIP Account, set at 0.05 lots. Similar to the VIP Account, the overnight interest rates for the Standard Account are also 1.75% for both buying and selling positions.

    London Gold/London Silver VIP account standard account
    Account opening and deposit requirements $200
    Golden spread rebate $25 spread rebate $15 spread rebate
    Silver spread rebate $38 Spread Rebate
    Minimum lot size 0.05 lots
    Overnight Interest (Buy/Sell) Buy - 1.75%, Sell - 1.75%

    How to Open an Account?

    Opening an account with GOLDAY PRECIOUS METALS can typically be done in the following five steps:

    1. Visit the website: Go to the GOLDAY PRECIOUS METALS website at https://vip.golday047.com/.

    2. Locate the account opening section: Look for a clearly marked section or button on the website that says “Open an Account” or something similar.

    open-account
    1. Fill out the application form: Provide the required information in the account opening form. This may include personal details such as your full name, contact information, and any other necessary information as specified.

    open-account
    1. Submit supporting documents: Depending on the platform's requirements, you may need to provide certain documents to verify your identity and address. This could include a copy of your identification documents (e.g., passport, driver's license) and proof of address (e.g., utility bill, bank statement).

    2. Review and finalize: Carefully review all the information you have provided before submitting the application. Ensure accuracy and completeness. Once you are satisfied, submit the application.

    Leverage

    Leverage refers to the practice of borrowing funds to amplify potential returns. However, as a precious metals trading company, GOLDAY PRECIOUS METALS may or may not offer leveraged trading options. If they do offer leverage, the specific leverage ratios and requirements would be determined by the company and may vary depending on the trading instrument and account type.

    Spreads & Commissions

    GOLDAY PRECIOUS METALS offers trading on London Gold (XAU) and London Silver (XAG) contracts. Here are the details regarding spreads and commissions:

    London Gold:

    • Contract Unit: 100 troy ounces

    • Minimum Price Fluctuation: $0.01

    • Trading Margin: 2% of the contract value

    • Spread (Point Difference):

      • Standard Account: $50 per contract

      • VIP Account: $25 per contract

    • Order Size: 0.05 to 20 contracts

    • Forced Liquidation: 20% during weekdays, 100% during weekends

    • Overnight Interest Rate:

      • Buy positions: -1.75% (annual interest rate)

      • Sell positions: -1.75% (annual interest rate)

    • Commission: No commission charged (0 commission)

    London Silver:

    • Contract Unit: 5000 troy ounces

    • Minimum Price Fluctuation: $0.01

    • Trading Margin: 2% of the contract value

    • Spread (Point Difference): $200 per contract

    • Order Size: 0.05 to 20 contracts

    • Forced Liquidation: 20% during weekdays, 100% during weekends

    • Overnight Interest Rate:

      • Buy positions: -1.75% (annual interest rate)

      • Sell positions: -1.75% (annual interest rate)

    • Commission: No commission charged (0 commission)

    Trading Platform

    The GOLDAY PRECIOUS METALS APP and the MT4 trading platform offered by GOLDAY PRECIOUS METALS provide clients with convenient and feature-rich options for trading precious metals.The GOLDAY PRECIOUS METALS APP is a professional and comprehensive trading software developed by GOLDAY PRECIOUS METALS Limited, based in Hong Kong. This mobile application integrates features such as account opening, trading, deposits and withdrawals, real-time quotes, market updates, expert analysis, and customer service. It allows clients to trade precious metals anytime and anywhere, enabling them to seize the best profit opportunities.

    trading-platform

    MT4 (MetaTrader 4) is one of the most popular investment and trading platforms worldwide. It combines market analysis, technical charts, and trading operations into a single platform. With MT4, users can perform various operations such as placing orders, closing positions, setting limit orders, stop loss and take profit levels, accessing reports, and analyzing data. Clients can also set stop loss and take profit levels to secure their profits without constantly monitoring the market.

    trading-platform

    Deposit & Withdrawal

    The deposit process involves customers initiating a remittance from their local bank to GOLDAY PRECIOUS METALS's corporate account, providing the necessary details such as their name and account number on the submitted documents, and transmitting them to us via online customer service, email, or fax. For fax submissions, customers are requested to confirm receipt by contacting the Customer Service Department. Once the funds are cleared, they will be immediately reflected in GOLDAY PRECIOUS METALS's transaction system without the issuance of separate account statements. It is important to note that GOLDAY PRECIOUS METALS only accepts deposits in USD, and other currencies will be converted based on the market exchange rate determined by the company. Additionally, deposits from third parties are not accepted. For withdrawals, customers can initiate the process online by entering the withdrawal amount and submitting the request.

    deposit

    Customer Support

    GOLDAY PRECIOUS METALS provides comprehensive assistance to their clients. With their office located in Tsim Sha Tsui, Hong Kong, clients can reach out to them via phone at +852-3758 2228 or through fax at +852-3468 7777. For convenience, clients can also send their inquiries and concerns via email to cs@golday9999.com.

    In addition to traditional contact methods, GOLDAY PRECIOUS METALS also offers an online customer support option. Clients can visit their website at https://vip.golday047.com, where they may find an online chat feature to engage with a customer support representative in real-time.

    customer-support

    Educational Resources

    GOLDAY PRECIOUS METALS website's “Market Center” section offers a diverse range of educational resources. These resources include daily market interpretations, weekly Jinsheng comments, and daily firm offer strategies, which provide clients with valuable insights into market trends, analysis, and trading approaches. Additionally, the industry encyclopedia serves as a comprehensive reference guide, offering clients a wealth of knowledge on the precious metals industry, including terminology, market dynamics, and trading strategies. Real-time news updates keep clients informed about the latest developments that may impact the market, while professional reviews and thematic pyrolysis provide expert analysis and in-depth examination of specific topics, enabling clients to gain a deeper understanding of the market.

    educational-resources

    Conclusion

    GOLDAY PRECIOUS METALS is a legitimate company regulated by the Hong Kong Gold & Silver Exchange (CGSE) and offers a platform for trading precious metals. Their diverse range of precious metals allows investors to diversify their portfolios, and they provide competitive benefits through their VIP and Standard account options. The company's popular trading platform, MT4, enables traders to make informed decisions with advanced market analysis tools.

    Frequently Asked Questions (FAQs)

    Q1: What type of trading does GOLDAY PRECIOUS METALS specialize in?

    A1: GOLDAY PRECIOUS METALS specializes in electronic trading of London gold and London silver.

    Q2: What are the account options available at GOLDAY PRECIOUS METALS?

    A2: GOLDAY PRECIOUS METALS offers VIP and Standard accounts with a minimum deposit of $200.

    Q3: Which trading platform does GOLDAY PRECIOUS METALS provide?

    A3: GOLDAY PRECIOUS METALS offers the MT4 trading platform for its clients.

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    迷失在黑夜
    more than one year
    Dotted seriously
    2022-11-28 09:08
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