GoldenLeap Information
GoldenLeap is a brokerage company registered in the United Kingdom in 2024. Their products include forex, indices, commodities, equities and cryptos. The company offers demo account for practicing and three tiered live accounts, with no minimum deposit requirement.
However, it should not be neglected that the broker is currently under the regulation status of suspicious clone.
Pros and Cons
Is GoldenLeap Legit?
GoldenLeap holds an FSA (The Seychelles Financial Services Authority) with license no.SD045. But the license is suspected to be fake clone, such abnormal regulatory status raises doubts about its legality and credibility.
What Can I Trade on GoldenLeap?
GoldenLeap claims to offer over 26000 tradable instruments for clients. These mainly fall into 5 asset categories: forex, indices, commodities, equities and cryptos.
The broker offers over 70 currency pairs, including major, minor and exotic pairs. While for commodities, energy products like crude oild, argicultural crops, and precious metals such as gold, silver and copper are on their dinning table as well.
Indices allow traders to invest in many top companies without choosing individual stocks. GoldenLeap supports common indices such as US30, S&P 500, NAS100 and others.
Or you can trade cryptos such as Bitcoin, Ethereum against USD with this broker. Major stocks of Apple, Tesla, Netflix and others are also available at GoldenLeap.
One of the key principles of investing is never putting all eggs in one basket. Scatter your funds into several products to dilute risks and potential losses.
Account Type (Minimum Deposit/Leverage/Spread & Commission)
GoldenLeap offers a demo account with virtual funds for traders to practice first without losing real money before they tap into actual trading.
For live accounts, there are 3 tiered types tailored for different client groups:
- The ECN Standard account is for beginner traders with limited initial capital. This account requires no minimum deposit. Spread start from 0.8 pips and no commission is charged in this account either.
- When you gain experience in investment, you can try the ECN Prime account, with a threshold of USD 2 000 to open an account, but tighter spread from 0.1 pips. Nontheless, you need to pay attention that a commission of USD 6 per lot traded will be charged.
- For those high-net-worth traders with large trading volumes, ECN Institutional account is suitable for them. A deposit of at least USD20 000 is necessary to access the perks of this account. It has the tightest spread from 0 pips and a moderate commision of USD4 per lot traded. But unfortunately, this account does not benifit swap-free trading, which is available in the other two accounts.
Leverage across all account types is up to 1:500 and minimum trade size is 0.01 lots.
Always choose the account that suits you best according to your financial capabilities.
Trading Platform
Goldenleap offers its proprietary trading platform designed for both desktop and mobile use, though order execution is only available on the browser version.
It offers industry-leading charts with over 15 chart types and 90+ drawing tools, enabling in-depth technical analysis through 100+ pre-built and 1,000+ custom indicators. Users can also trigger alerts based on various conditions and test strategies using historical data. The platform includes a powerful analytical suite for screening assets with over 100 criteria and supports Pine Script™ for developing custom indicators and strategies.
However, Goldenleaps paid plans can cost up to US$719.40 per year. Though clients can receive free access to different tiers based on their trading volume, the cost is quite a burden for many investors.
Deposit & Withdrawal
The broker accepts payment through American Express, Visa card, SEPA, POLi, PaymentAsia, NETELLER and Skrill.
Customer Support Options
You can get in touch with the broker via email, physical office address and social platforms when you need supports.
The Bottom Line
GoldenLeap is a brokerage company who offers a wide range of financial instruments for its clients. The demo account allows traders to practice their trading strategies and zero minimum deposit requirements encourage traders to try to start an investment journey. Copy trading allows users to simulate successful trading without racking their brains. However, the suspicious clone regulatory status implies less compliance to financial rules, and the chargeable trading platform increase economic burden for traders.
So carefully weigh the pros and cons of the broker and ensure you can accept all the drawbacks before you decide to trade with them.
FAQs
Is GoldenLeap safe?
No, we cannot say that the broker is safe due to the suspicious clone regulatory status.
Is GoldenLeap good for beginners?
Yes, the broker does not require any minimum deposit to start trading, which is friendly to beginners. But you need to pay if you want to enjoy advanced services.
What trading platform does GoldenLeap have?
GoldenLeap offers a proprietary platform available on web and mobile devices.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
