GoldNRise is the Forex and CFD broker founded in late 2022. In addition to trading, users have access to additional features such as investing, currency exchange, bitcoin duplicating, and analytics. The official website lists the office address in the UK and a phone number from the US. However, there is no information on where the company is legally registered. The company does not have a license for broker activities.
Trading Conditions
GoldNRise offers five trading accounts to choose from:
- Entry
- Basic
- Silver
- Gold
- Platinum
The minimum deposit is $500. Additional services available include access to analysts, bonuses, account insurance, and 24/5 technical support. Customers can trade independently or under the guidance of an experienced trader.
The trading platform used is FxPro MT5, and users can trade CFDs on cryptocurrencies, stocks, commodities, and indices. Multiple deposit methods are available, including bank cards, payment systems (such as Webmoney, and PayPal), and a cryptocurrency wallet.
During registration, users can enter a promo code, indicating that GoldNRise has a partnership program, although the full terms of it are unknown to us.
1. Short lifespan. You should trade with companies that were founded at least 10 years ago, and preferably more. Do you know when GoldNRise appeared? In December 2022! Can you guarantee that the firm will not close tomorrow? There are no guarantees.
2. No license. With such trading conditions, no regulator will give this broker any license. High leverage, some huge bonuses — it is obvious that no regulator will approve of this.
3. The registration address is not specified. I heard somewhere that the broker belongs to a company registered in Belize, but this still does not say anything because Belize is an offshore zone.
4. The trading platform has nothing to do with MetaTrader! This is their proprietary terminal with a similar name.
In short, my verdict is that this is an unequivocal scam.
I found a traders' chat, and everyone there told me that I was a fool. Apparently, I had started working with an unlicensed, illegal broker. Broker had no positive reputation and could not have one as the company was founded only last year (someone told me how to check this). Having little hope, I decided to withdraw my money, and I have been waiting for three weeks now. They say that it is useless to sue the company because it is operating illegally.
The only conclusion here is to thoroughly check the information about brokers on the internet to avoid coming across types like GoldNRise.