Updated on February 15, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding GoldenSkyCapital due to the issues we've identified.
Is GoldenSkyCapital Scam or Legit Broker? ▲
Trading with GoldenSkyCapital is highly discouraged, as it operates under the ownership of Golden Point LTD, an entity registered in the Marshall Islands (Registration Number: 99835). This offshore location is notorious for its almost non-existent regulatory framework for forex trading, attracting numerous disreputable brokers. The lack of stringent regulations and oversight in the Marshall Islands offers no guarantees for the safety and protection of investors' funds. Previous instances have shown that companies registered in such jurisdictions, including known shady brokers like CobraCFD and Swissinv24, often engage in practices that are not in the best interests of traders.
Pros
There are no discernible advantages to trading with an offshore broker that lacks proper regulatory oversight.
Cons
Registered in a jurisdiction known for its lax regulatory environment.
No regulatory oversight from reputable organizations.
The safety of funds cannot be guaranteed.
The broker has been flagged by Swiss authorities.
Limited to no transparency regarding company operations.
GoldenSkyCapital markets itself as an international trading platform, offering a broad spectrum of trading options including FOREX, Commodities CFDs, and Crypto Currencies. The platform claims to provide a safe, transparent, and friendly trading environment, tailor-making trading programs for each of its clients. It boasts a catalog of over 250 asset classes, providing its traders with instant access to various markets through a specially designed trading platform. Despite these claims, the lack of regulatory compliance casts a long shadow over the legitimacy of its operations. Furthermore, the only provided contact method is a Swiss phone number, a country in which GoldenSkyCapital is not regulated, and where the local financial regulator has issued warnings against the broker.
GoldenSkyCapital Review Conclusion ▲
It is strongly recommended that investors and traders steer clear of GoldenSkyCapital as well as any other brokers based in the Marshall Islands. The lack of regulatory oversight in such jurisdictions poses significant risks to the safety and security of traders' funds. Instead, individuals looking to engage in forex trading should opt for brokers regulated in reputable jurisdictions, such as those holding licenses from the FCA in the UK or ASIC in Australia.
GoldenSkyCapital Update
Our latest research indicates that the GoldenSkyCapital website is no longer operational, suggesting the broker has ceased its trading services. Despite this, it is advisable to remain vigilant and avoid any potential engagements with this broker or similar entities, as the risks previously highlighted persist.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
GoldenSkyCapital Review 2024
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