Score
igold
Hong Kong|5-10 years| https://en.igoldhk.com/?utm_source=fxeye&utm_medium=PC-LF-toplink&utm_content=LFenindex&utm_campaign=link
Website
Rating Index
MT4/5 Identification
MT4/5
Full License
Acetop-Live02
Influence
B
Influence index NO.1
China 7.46MT4/5 Identification
MT4/5 Identification
Full License
ChinaInfluence
Influence
B
Influence index NO.1
China 7.46Contact
Licenses
Licensed Institution：# 領峰貴金屬有限公司
License No.：145
Single Core
1G
40G
1M*ADSL
- The number of the complaints received by WikiFX have reached 29 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
Basic information
Hong Kong
Account Information
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
Most visited countries/areas
igoldhk.com
Server Location
Hong Kong
Most visited countries/areas
Website Domain Name
igoldhk.com
Website
WHOIS.NAME.COM
Company
NAME.COM, INC.
Domain Effective Date
0001-01-01
Server IP
118.193.185.31
Genealogy
VIP is not activated.Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
| igold Review Summary in 10 Points | |
| Founded | N/A |
| Registered Country/Region | Hong Kong |
| Regulation | CGSE |
| Market Instruments | 99 Gold, HKD Kilo Gold, Loco London Gold/Silver and RMB Kilobar Gold |
| Demo Account | Available |
| Leverage | 1:200 |
| EUR/USD Spread | $0.5/ounce for Loco London Gold, $0.03/ounce for Loco London Silver |
| Trading Platforms | MT4 |
| Minimum deposit | $50 |
| Customer Support | Phone, email |
What is igold？
igold is headquartered in Hong Kong and is a regulated e-trading member of the Chinese Gold and Silver Exchange (CGSEC, No.145), holding the highest-grade type AA Marketing Trading License and Certificate of Accredited Refineries for 999.9 Gold. The broker can legally operate electronic trading of 99 Gold, HKD Kilo Gold, Loco London Gold/Silver and RMB Kilobar Gold, and offers trading through the MetaTrader 4 platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
igold has some advantages such as being regulated by CGSE, offering the popular MT4 platform, low spreads, and commission-free precious metals trading.
However, there are some concerns about the broker's reputation due to negative client reviews regarding severe slippage and withdrawal issues. It is important for traders to carefully consider these factors before choosing to trade with igold.
| Pros | Cons |
| • Regulated by CGSE | • Severe slippage and withdrawal issues reported |
| • Supports MT4 | • Limited trading instruments compared to others |
| • Demo accounts available | • Limited deposit and withdrawal options |
| • Free account opening | • Lack of transparency in fee structure |
| • High leverage of 1:200 | • Overnight fees charged |
| • Low spreads for precious metals trading | |
| • Commission-free trading | |
| • Low minimum deposit requirement of $50 |
Note: This table is based on the information provided and may not include all possible pros and cons of igold.
igold Alternative Brokers
JustForex - a popular online forex and CFD broker that offers a wide range of trading instruments, including forex, cryptocurrencies, and metals, with competitive spreads and commissions, but its customer service can be inconsistent.
LiteForex - a global forex and CFD broker that provides access to various trading instruments, including forex, metals, and cryptocurrencies, with competitive spreads and a user-friendly trading platform.
NordFX - a forex and CFD broker that offers access to a wide range of trading instruments, including forex, metals, and cryptocurrencies, with competitive spreads and commissions, but its customer service can be slow and unresponsive at times.
There are many alternative brokers to igold depending on the specific needs and preferences of the trader. Some popular options include:
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is igold Safe or Scam？
The Chinese Gold & Silver Exchange Society (CGSE) is a recognized and reputable regulatory authority in the precious metals industry, which adds a level of credibility to igold's operations. Additionally, the broker has been in operation for several years.
However, negative client reviews regarding severe slippage and withdrawal issues suggest that there may be some concerns with the broker's services. It is important to thoroughly research and consider all available information before deciding to trade with any broker, including igold.
Market Instruments
igolds business scope ranges from e-trading of Loco London Gold/Silver to transaction and minting of 99 Gold, HKD Kilo Gold and Renminbi Kilobar Gold.
Accounts
igold offers two different types of trading accounts for investors: General Investor Accounts and Advanced Investor Accounts. The minimum amount for deposit to start trading is $50, whileno maximum amount limitation.
igold also offers a free $200,000 demo account. Using a free demo account is a great way to practice online trading at live market conditions, without risking any money.
Margin & Leverage
The initial margin is fixed for each lot LLG/LLS is $1000. The leverage is 1:50 for both Loco London Gold and Loco London Silver in the General Investor accounts, 1:200 for 0-100 lots of Loco London Gold, 1:100 for 100-200 lots, 1:50 for over 200 more lots in the Premium Investor Accounts. The leverage for Loco London Silver is 1:120 for trading 0-20 lots, 1:60 for trading 20.01 to 40 lots, and 1:30 for trading over 40 lots.
Spreads & Commissions
Standard spread for Loco London Gold is $0.5/ounce while it is $0.03/ounce for Loco London Silver. The spread is variable and may vary due to drastic fluctuations in the market. Clients could trade with a minimum contract size of 0.01 lot and the spread rebate is up to $26 per lot. There is no commission charged.
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread | Commission |
| igold | $0.5/ounce (Loco London Gold) | $0 |
| JustForex | 0.0-1.1 pips | $5 per lot |
| LiteForex | 1.1 pips | N/A |
| NordFX | 0.0-2.0 pips | $10 per lot for Fix account, $20 per lot for Pro account |
Note: Spreads can vary depending on market conditions and volatility.
Trading Platforms
igold provides traders with the market-leading and popular MT4 trading platform, as well as MT4 Mobile to meet a wide range of trading needs.
MT4 is widely used by traders around the world. The MT4 platform provides a user-friendly interface and advanced charting tools for technical analysis. Traders can customize their charts and use various technical indicators and drawing tools to analyze price movements and identify trading opportunities. In addition, MT4 allows traders to automate their trading strategies using Expert Advisors (EAs), which are essentially algorithms that can enter and exit trades based on pre-defined rules.
The MT4 mobile app also allows traders to access their accounts and trade on the go, providing a convenient option for those who need to manage their trades while away from their computer.
See the trading platform comparison table below:
| Broker | Trading Platform |
| igold | MT4 and MT4 Mobile |
| JustForex | MetaTrader 4, MetaTrader 5, WebTrader |
| LiteForex | MetaTrader 4, MetaTrader 5, WebTrader |
| NordFX | MetaTrader 4, MetaTrader 5, MetaTrader Mobile |
Trading Hours
Daylight Saving Time (GMT +8): 6:30 am Monday to Saturday 3.30 am
Winter Time (GMT +8) : 6:30 am Monday to Saturday 4:00 am
The LLG/LLS Can be traded 24 hours a day on the international market and the market will only be closed during weekends and international holidays. The trading time in this company is:
Deposits & Withdrawals
There is very little information on deposits and withdrawals on igolds website. It seems that it only supports Wire transfer.
The minimum amount for deposit to start trading is $50. The minimum trading volume for each order is 0.05 lot. Therefore, the minimum amount for deposit for the trading is $50 (0.05 X $1000). It is suitable for common investors.
Igold minimum deposit vs other brokers
| igold | Most other | |
| Minimum Deposit | $50 | $100 |
Deposits by wire transfer can take several business days, depending on your bank. Withdrawal requests will be processed in the next working day. When the fund is credited to your bank account depends on the bank processing.
Fees
Apart from spreads, igold charges an overnight interest fee. Fees for deposits and withdrawals are not revealed openly on the website. Once a position (bid or ask) is opened and held overnight (03:29 a.m. GMT+8), an overnight interest will be charged. The overnight interest rate of a buy position (Long) is -1.75% while the overnight interest rate of a sell position (Short) is -0.15%.
See the fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee |
| igold | N/A | N/A |
| JustForex | None | None |
| LiteForex | None | None |
| NordFX | None | None |
Customer Service
Telephone: (852)2276 8862 (English), (852) 2276 8888 (HK);
Email: cs@igoldhk.com
If clients have any inquiries, they can get in touch with igold through the following contact channels:
FAQ section is also available.
| Pros | Cons |
| • Phone & email support available | • No 24/7 customer support |
| • Knowledgeable and helpful customer support | • Limited language options for customer support |
| • FAQ support | • No live chat support |
| • No social media support available | |
| • Long response times during peak periods |
Note: These pros and cons are subjective and may vary depending on the individual's experience with igold's customer service.
User Exposure on WikiFX
On our website, you can see that some users have reported severe slippage and unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
On the whole, igold is a regulated precious metals broker that offers a low minimum deposit requirement, tight spreads, and commission-free trading. The availability of the popular trading platform MT4, and a high leverage of 1:200 may also be attractive to some traders.
However, there are concerns raised by some clients about severe slippage and withdrawal issues, which could be a cause for caution. Overall, traders should carefully consider these factors and conduct their due diligence before deciding to trade with igold.
Frequently Asked Questions (FAQs)
| Q 1: | Is igold regulated？ |
| A 1: | Yes. It is regulated by The Chinese Gold & Silver Exchange Society (CGSE). |
| Q 2: | Does igold offer demo accounts？ |
| A 2: | Yes. It offers a free $200,000 demo account. |
| Q 3: | How much is the initial margin requirement for trading LLG/LLS？ |
| A 3: | The initial margin requirement for trading LLG/LLS is $1,000. |
| Q 4: | Does igold offer the industry-standard MT4 & MT5？ |
| A 4: | Yes. It supports MT4. |
| Q 5: | What is the minimum deposit for igold？ |
| A 5: | The minimum amount to trade with igold is $50. |
| Q 6: | How much is the overnight interest rate？ |
| A 6: | The overnight interest rate of a buy position (Long) is -1.75% while the overnight interest rate of a sell position (short) is -0.15%. |
| Q 7: | Is igold a good broker for beginners？ |
| A 7: | Yes. It is a good choice for beginners because it is regulated well and offers precious metals with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Keywords
- 5-10 years
- Regulated in Hong Kong
- Type AA License
- MT4 Full License
- High potential risk
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小范9533
Hong Kong
Don't want to say much, describeless! Non-farm pending order, unexpectedly slipped 10 pips. Too bad. Pending at 2461 and entered a long position, stop loss at 2459. Slipped to 2470.4 for me.
Exposure
08-03
星辰9516
Hong Kong
The igold is a scam platform. It not only frequently disconnects, but the system also maliciously slips and is arbitrarily controlled by the background.
Exposure
07-29
小四420
Hong Kong
When I was a new user who made a deposit, the customer service called me and told me that if I placed an order of more than 0.3 lots, I would get 88 yuan for free. He asked me to remember to contact the online customer service, but the online customer service refused to admit it.
Exposure
04-12
金融菜鸟
Hong Kong
It is inconsistent with the closing/opening time of the international platform. The setting of igold is that if it is lower than 100%, the position will be forced to be closed. However, after the opening on the morning of 4/1, the account balance directly shows negative before the position is forced to be closed. For example, according to the 100% set by the platform, If the position is closed and the margin is lower, my principal can at least be saved. I asked customer service, but they wouldn't solve it and said the system was like this.
Exposure
04-01
天空9242
Hong Kong
I set the stop loss price at 2167.91 and the price slipped to 2162.02 before it stopped the loss. It was very serious.
Exposure
03-13
中黔金讯
Hong Kong
I was in a lock position, and the funds in my account at that time were as shown in the picture below. They secretly operated seven of my short orders at the top of the market, leaving long orders. In the end, there was more than 1,000 US dollars left in the account, and the customer service actually said it was because the margin was insufficient. What does Lock position have to do with margin?
Exposure
2023-12-08
江河湖海流
Hong Kong
A total of 5,012 yuan was withdrawn, of which 3,535 yuan was frozen and deducted.
Exposure
2023-11-22
江河湖海流
Hong Kong
After the money was withdrawn, the bank card was frozen and the funds were transferred away by the police. The customer service was perfunctory.
Exposure
2023-11-20
阿布尼
Hong Kong
Every time I enter the market, there is a slipage of 0.2~0.3 between the click transaction and the final transaction price, such as shorting 2010.9, clicking short, and the delay after clicking will cause the transaction price to become 2010.6. If it is a stop loss, you can stop the loss to the highest point or the lowest point every time. It's not due to network delay. For the same market, accounts opened on other platforms can be entered normally. It is difficult to make a profit when trading one lot in this way, with the spread plus slippage.
Exposure
2023-05-03
FX3055461588
Hong Kong
The company has not obtained domestic regulatory qualifications. It illegally misled and defrauded users of their principal through Baidu and advertisements, and launders money through illegal channels. My account 13281783882 was forcibly restricted after the complaint and I asked to return the principal of 23,460 yuan!
Exposure
2023-05-05
帅帅的我
Hong Kong
Igold closed the order in advance before the time, the slippage was serious, the maximum stop loss slippage was 7 US dollars, the customer service said it was normal,
Exposure
2023-01-09
狂野
Hong Kong
Slips for 120 pips which is 12 dollars. Who can bear such trading environment?
Exposure
2022-10-16
旭45483
Hong Kong
The withdrawal is too slow, the scam company, the app is super difficult to use, and the customer service has to ask questions repeatedly as soon as they withdrawn. Trash fraud platform
Exposure
2022-09-27
deng1755
Hong Kong
Do not allow you to close position due to lag, and the network is disconnected maliciously, causing me to lose tens of thousands of dollars
Exposure
2022-09-15
FX2090672312
Hong Kong
I had a serious loss at igold and then the platform cancel my trading account.
Exposure
2022-05-31
FX2428757406
Hong Kong
Under the temptation of Igold to induce more deposit and more bonuses, the platform suffered a serious slippage loss of more than 15,000 US dollars, which is equivalent to more than 100,000 yuan. I gave feedback to the customer service department with my real name and said that the backstage should not add some secrets, but I was cancelled. account! Please stay away from such platforms that cancel accounts at will. Before you start to make no profits, you call almost every day to urge more deposits to have more preferential activities. If customers lose serious losses, they should find reasons to cancel their accounts. This is a crop of financial shuffle
Exposure
2022-05-05
小周5112
Hong Kong
Trash leading. There are orders every day. On the night of the May 2nd, it is about to lose again. Screw you. If you follow this platform, you will only lose money. I have lost on this platform.
Exposure
2022-05-02
FX6550814872
Hong Kong
This platform does not only has serious slippage, but also threaten me to cancel may account.
Exposure
2022-04-29
银行凯歌
Hong Kong
The delay of open and close a position is too serious for Acetop. Every stime I enter the market, I have to wait for a long time and miss the best timing. Every time the slippage can be greater than 1 USD, which is worse than the spread. The most ridiculous thing is the double standard, which there will be a slippage if it is good for platform and there will be no slippage if it is good for customer. Well, that's the trick.
Exposure
2022-04-27
火凤凰涅磐
Hong Kong
On April 25, 2022, the deposit was made, and on the 26th, it said that it has not yet arrived! That is, there is no return to the account, and not the transaction account. Is the funds lost?
Exposure
2022-04-26