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Goldbar

Hong Kong|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.goldbar.com.hk/

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Contact

+852 28508028
info@goldbar.com.hk
https://www.goldbar.com.hk/
上環孖沙街金銀商業大廈7樓701-702室

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Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Goldbar · Company Summary

Company Name Goldbar
Regulation Unregulated
Products Gold and silver coins, bars, ingots, and related items
Recycling Service Available for various precious metals
Customer Support Phone, WhatsApp, email, fax, and office locations
Main Office 7/F, 701-702, Kam Yin Commercial Building, 19-21 Ma Sha Street, Sheung Wan, Hong Kong
Operating Hours Main Office: Monday to Friday, 9:30 AM to 5:30 PM
Mong Kok Branch: Monday to Friday, 10:30 AM to 6:30 PM
Website Goldbar Official Website

Overview

Goldbar is an unregulated precious metals broker based in Hong Kong. They offer a wide range of gold and silver products, including coins, bars, ingots, and provide a convenient metal recycling service. Customers can purchase precious metals in physical stores or online and can contact their customer support through various channels. However, due to their lack of regulation, potential investors should exercise caution and conduct thorough research before considering any investment with Goldbar.

Overview

Regulation

Goldbar is widely known as an unregulated broker, which means it operates without oversight from a reputable financial regulatory authority. This lack of regulation can expose investors to significant risks, as there are no safeguards in place to ensure fair and transparent trading practices. Unregulated brokers may engage in unethical or fraudulent activities, making it crucial for investors to exercise caution and conduct thorough research before considering any investment with them. It is generally advisable to choose regulated brokers to protect your investments and financial interests.

Regulation

Pros and Cons

Pros Cons
1. Wide Range of Precious Metal Products 1. Lack of Regulation
2. Convenient Metal Recycling Service 2. Market Fluctuations
3. Transparency in Pricing 3. Limited Operating Hours
4. Multiple Contact Channels

In summary, Goldbar offers a diverse range of precious metal products, transparent pricing, and a convenient recycling service with various contact options. However, it operates without regulation, which may pose risks, and customers should be aware of market fluctuations and limited store hours.

Products

Goldbar offers a wide range of precious metal products, including gold and silver coins, bars, and ingots. These products come in various weights and designs, catering to both collectors and investors. Some of the featured products from Goldbar's offerings include:

Gold Coins:

  • 1-ounce Australian Year of the Dragon Gold Coin

  • 1-ounce Heraeus Year of the Dragon Gold Bar

  • 10-gram Heraeus Year of the Dragon Gold Bar

  • 5-gram Heraeus Year of the Dragon Gold Bar

  • 1-gram Heraeus Year of the Dragon Gold Bar

  • 1-ounce Australian Year of the Dragon Gold Coin

Silver Coins:

  • 1-ounce Australian Year of the Dragon Silver Coin

  • 1-ounce Australian Year of the Dragon Colorized Silver Coin

  • 1-ounce Canadian Maple Leaf Silver Coin

  • 1-ounce Australian Kangaroo Silver Coin

  • 1-ounce American Eagle Silver Coin

  • 1-ounce Australian Koala Silver Coin

Gold Bars:

  • 1-ounce Heraeus Gold Bar

  • 10-gram Heraeus Gold Bar

  • 50-gram Heraeus Gold Bar

  • 100-gram Heraeus Gold Bar

  • 1-kilogram Heraeus Gold Bar)

Silver Bars:

  • 10-ounce Royal Canadian Mint Silver Bar

  • 500-gram Swiss Argor Heraeus Gold Castle Commemorative Silver Bar

  • 500-gram Gobi 999.9 Silver Bar - Limited Edition

  • 1-kilogram Heraeus Silver Bar

Other Precious Metal Products:

  • 3kg Norilsk Nickel Palladium Ingot

  • Hong Kong Precious Metals Exchange 100th Anniversary Silver Bar

  • Hong Kong Precious Metals Exchange 110th Anniversary 20-gram Commemorative Gold Bar

  • Limited Edition 1 Tael 99999 Heraeus Gold Bar

  • Hong Kong Precious Metals Exchange 1 Tael Gold Bar

  • Hong Kong Precious Metals Exchange 5 Tael Centennial Gold Bar

Please note that the availability of specific products may vary depending on the time and location of purchase. It's essential to verify the current offerings and prices with Goldbar before making any investment decisions.

Products

Recycling Service

Goldbar offers a convenient and straightforward metal recycling service for various precious metals, including gold and silver. Here are some key features of their recycling service:

  1. No Account Required: You do not need to open an account or provide receipts to access their recycling service. This makes it easy for individuals who want to sell their precious metal items.

  2. Immediate Payment: Goldbar provides immediate payment for your recycled precious metals. You can choose to receive your payment in either bank transfer or cash, offering flexibility in how you want to receive your funds.

  3. Competitive Pricing: They offer competitive recycling prices based on the type and purity (Karat) of the metals you are recycling. Prices are subject to market fluctuations and can vary based on the current market rates.

  4. Common Products Accepted: Goldbar accepts a range of common gold and silver products, including gold coins, Heraeus gold bars, and various gold granules from reputable jewelers like Chow Tai Fook, Chow Sang Sang, and Lukfook. They also accept unscathed 9999 silver coins and Heraeus silver bars.

  5. Custom Recycling: While the provided prices are for common items, they also offer custom recycling services for other items or larger quantities. You can contact them at 28508028 for inquiries regarding custom recycling.

  6. Transparent Pricing: The recycling prices are openly listed on their website, ensuring transparency in the process. Customers can easily check the current prices before proceeding with the recycling.

Recycling-Service

How to buy

  1. Buying Precious Metals in Physical Stores Using Cash:

  • Research Local Dealers: Start by researching and identifying reputable local dealers or precious metal shops in your area. You can find this information through online searches, recommendations from trusted sources, or by checking local business directories.

  • Visit the Store: Once you've identified a suitable dealer, visit their physical store during their operating hours. It's a good idea to call ahead or check their website for store hours and any specific buying requirements.

  • Browse Inventory: When you arrive at the store, browse their inventory of precious metals, including gold and silver coins, bars, and other products. Take your time to assess the options available and ask questions if needed.

  • Select Your Products: After making your selection, inform the dealer about the specific items you wish to purchase. They will provide you with the current prices and any relevant taxes or fees associated with the purchase.

  • Payment in Cash: If you choose to pay in cash, you can hand over the required amount to the dealer. They will typically verify the cash and provide you with a receipt for your purchase.

  • Documentation: Ensure that you receive proper documentation for your purchase, including an invoice or receipt. This documentation is essential for tracking your investment and potential future resale.

  • Secure Your Purchase: Once the transaction is complete, secure your purchased precious metals in a safe and secure location, such as a home safe or a safe deposit box at a bank.

  1. Buying Precious Metals Online:

  • Select a Reputable Online Dealer: Start by choosing a reputable online precious metals dealer. Look for dealers with a strong track record, positive customer reviews, and secure payment options.

  • Browse the Website: Visit the dealer's website and browse their selection of precious metal products. Most online dealers offer a wide range of options, including gold and silver coins, bars, and rounds.

  • Create an Account: To make a purchase online, you may need to create an account with the dealer. This typically involves providing your contact information and agreeing to their terms and conditions.

  • Add Products to Cart: Select the products you want to buy and add them to your shopping cart. Ensure that you review the product descriptions, prices, and quantities before proceeding.

  • Checkout: Proceed to the checkout process, where you'll provide your shipping address and payment information. Online dealers typically offer various payment methods, including credit/debit cards, bank transfers, and sometimes cryptocurrency.

  • Review Order: Before finalizing your order, review all the details, including the shipping method and total cost. Make sure everything is accurate.

  • Confirm and Pay: Confirm your order and complete the payment process. Most online dealers have secure payment systems in place to protect your financial information.

  • Delivery: Once your payment is processed, the dealer will arrange for the delivery of your precious metals to your specified address. Shipping times may vary depending on your location and the dealer's policies.

  • Secure Your Purchase: Upon receiving your order, securely store your precious metals as you would with any physical investment.

How-to-buy

How to open an account

  1. Access the Customer Center:

  • Start by visiting the customer center page on the website of the financial institution or service where you wish to open an account.

  • Look for an option that says “Not Yet Registered” or a similar phrase, indicating that you are a new user.

  1. Register Your Information:

  • Click on the “Register” button or link to begin the registration process.

  • You will be prompted to enter all the necessary information required for account setup. This typically includes personal details such as your name, contact information, date of birth, and sometimes your identification number.

  1. Log In to Your Account:

  • After successfully registering your information, you can log in to your newly created account by entering your username and password.

  • Once logged in, you will have access to your user center or dashboard.

  1. Initiate the Account Opening:

  • Inside your user center, look for an option that says “Open an Account” or a similar phrase. Click on this option to start the account opening process.

  • You will be asked to provide additional information and documentation, which may include proof of identity, address, and other required details. Follow the instructions and complete all necessary fields.

  1. Submit Your Application:

  • After entering all the required information, review your application for accuracy.

  • Once you are satisfied that all details are correct, click the “Submit” button to send your account opening application.

  • If you are unable to provide identification documents online, the instructions may provide an alternative option, such as faxing the documents to a designated fax number. Follow these instructions if needed.

  1. Wait for Confirmation:

  • Your account opening application has now been submitted. Please be patient as the financial institution's customer service team reviews your application.

  • Typically, you can expect to receive confirmation or updates on your application status within two business days.

  • You can monitor the progress of your application by logging in to your user center and checking the homepage, where you should be able to see the current status of your application.

 account

Deposit & Withdrawal

Deposits:

  1. Transfer Funds to Designated Account:

  • As a customer, you will need to initiate a fund transfer to the designated bank account provided by the financial institution or service where you hold your account.

  1. Log In to Your User Center:

  • Once the funds have been transferred, log in to your user center or account dashboard on the financial institution's website.

  1. Access the Funds Management Section:

  • Within your user center, navigate to the “Funds Management” section, which is typically where you can manage your deposits and withdrawals.

  1. Submit Proof of Deposit:

  • Click on the option to “Submit Deposit Proof” or a similar phrase. You will be prompted to provide details about your deposit.

  • Enter all the required information, which may include the amount of the deposit, the date, and any other relevant details.

  1. Provide Supporting Documents:

  • You may need to upload or attach proof of your deposit, such as a scanned copy or photo of your deposit receipt or transaction confirmation.

  • If you are unable to provide deposit proof online, the instructions may include an option to fax the documents to a specified fax number.

  1. Wait for Confirmation:

  • After submitting the deposit details and any required documents, please be patient while the financial institution's customer service team reviews your submission.

  • Typically, you can expect confirmation of your deposit within one business day.

  1. Check Your Account Balance:

  • Once your deposit is confirmed, you can check your account balance on the homepage of your user center. This will reflect the updated amount based on your recent deposit.

  1. Review Transaction Details:

  • For more detailed information about your deposit, you can access the “Funds Management” section and review the transaction details under “Fund History” or a similar category.

Withdrawals:

The process for withdrawals typically follows a similar pattern, with slight variations depending on the financial institution's policies. Here's a general outline:

  1. Initiate Withdrawal Request:

  • Log in to your user center or account dashboard.

  • Access the “Funds Management” section.

  1. Select “Withdraw Funds”:

  • Choose the option to “Withdraw Funds” or a similar phrase.

  1. Provide Withdrawal Details:

  • Enter the amount you wish to withdraw and provide any other necessary withdrawal details.

  1. Submit Request:

  • Confirm your withdrawal request and submit it.

  1. Wait for Processing:

  • The financial institution will process your withdrawal request, and you will receive confirmation and updates on the status.

  1. Check Your Account Balance:

  • After the withdrawal is processed, you can check your updated account balance in the user center.

  1. Review Transaction Details:

  • For detailed information about your withdrawal, you can review the transaction details in the “Fund History” or similar section of the user center.

Deposit-Withdrawal

Customer Support

Gold Bar provides customer support through various channels to assist their clients with inquiries, transactions, and other related matters. Here's a description of their customer support information:

  1. Contact Information:

  • Phone: You can reach their main office at 28508028 for inquiries, assistance, or to speak with a customer service representative.

  • WhatsApp: For added convenience, you can also contact them via WhatsApp at 56853885.

  • Fax: If you need to send documents or correspondence, you can use their fax number, which is 28508029.

  • Email: General inquiries and communication can be sent to their email address at info@goldbar.com.hk.

  1. Office Addresses:

  • Main Office:

    • Address: 7/F, 701-702, Kam Yin Commercial Building, 19-21 Ma Sha Street, Sheung Wan, Hong Kong

    • Operating Hours: Monday to Friday, from 9:30 AM to 5:30 PM.

  • Mong Kok Branch:

    • Address: 8/F, 801, 168 Sai Yeung Choi South Street, Mong Kok, Hong Kong

    • Operating Hours: Monday to Friday, from 10:30 AM to 6:30 PM.

  1. Bank Account Information:

  • They provide details of their bank accounts for customers who need to make financial transactions. This information includes the payee name, bank name, and account numbers for Hang Seng Bank, Wing Hang Bank, Bank of China (HK), and DBS Bank.

Gold Bar appears to offer multiple communication channels to ensure that customers can easily reach their customer support team for assistance with inquiries, deposits, withdrawals, and other related services. Additionally, they have two office locations with different operating hours to accommodate clients. Please note that their contact information and operating hours may be subject to change, so it's a good idea to verify the details directly with the company before making any contact or visits.

Customer-Support

Summary

Goldbar is an unregulated broker that offers a wide range of precious metal products, including gold and silver coins, bars, and ingots. They also provide a convenient metal recycling service with competitive pricing and immediate payment options. To buy from Goldbar, customers can visit physical stores or purchase online, ensuring they choose a reputable dealer. Opening an account with them involves registering on their website, and deposits and withdrawals can be made following standard procedures. Customer support is available through various channels, including phone, WhatsApp, email, fax, and office visits. It's important to note that Goldbar's lack of regulation can pose risks, so investors should exercise caution and conduct thorough research before considering any investment with them.

FAQs

Q1: Is Goldbar a regulated broker?

A1: No, Goldbar is not regulated by any reputable financial regulatory authority, which means it operates without oversight.

Q2: What products does Goldbar offer?

A2: Goldbar offers a variety of precious metal products, including gold and silver coins, bars, ingots, and other related items.

Q3: How can I buy precious metals from Goldbar?

A3: You can buy precious metals from Goldbar by visiting their physical stores with cash or by making online purchases through their website.

Q4: Do I need to open an account to use Goldbar's recycling service?

A4: No, you do not need to open an account to use Goldbar's metal recycling service, making it convenient for individuals looking to sell their precious metals.

Q5: How can I contact Goldbar's customer support?

A5: You can contact Goldbar's customer support through phone, WhatsApp, email, fax, or by visiting their office locations. They provide multiple communication channels to assist with inquiries and transactions.

Broker Information

Company Name

GOLD CITY GOLD BAR LIMITED

Company Abbreviation

Goldbar

Regulatory Status

No Regulation

Platform registered country and region

Hong Kong

Company website
Phone of the company
  • +852 28508028

  • +852 28702220

Twitter

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Facebook

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Instagram

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YouTube

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Company address
  • 上環孖沙街金銀商業大廈7樓701-702室

  • 旺角西洋菜南街168號8樓801室

Linkedin

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WhatsApp

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QQ

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WeChat

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Customer Service Email Address
  • info@goldbar.com.hk

Company Summary

User Reviews

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Fly away quickly
more than one year
I've been trying to use Goldbar for the past five months, and it's been nothing short of a headache. Every time I attempt to make a transaction, my account gets bogged down with a series of tedious information requests. It takes months for them to review the information, let alone provide any feedback. I've attempted to complain through official channels, but it's been utterly ineffective.
2024-01-19 11:47
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0
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..ewffhjer
more than one year
I've been with Goldbar for 3 years, and it's been quite handy. The members area is comprehensive, offering various deposit methods. Execution is speedy with no re-quotes so far. Commission-free withdrawals are a plus, allowing unlimited transactions. Suitable for both beginners and advanced traders.
2023-12-28 12:13
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0
0
FX1345030746
more than one year
Don’t trade with this company. I sold some gold on this platform, but they wanted to buy it at an extremely low price. I refused that, but they started to insult and harass me. Super horrible! I advise that they had better improve their customer service, or else this company will lose lots of clients.
2023-03-20 17:57
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