GoodTrade Capital is a forex and CFD broker that claims to offer a variety of trading features and services. However, there are a number of red flags that suggest that GoodTrade Capital is a scam broker.
GoodTrade Capital does not provide any information on its website. They mentioned that they are located in over 100 countries. But they did not even provide a single license or regulation from any country.
Does GoodTrade Capital Have Any License?
No, GoodTrade Capital does not have any license from any major regulatory authority. This is a major red flag, as it means that the broker is not subject to any oversight or regulation.
Is GoodTrade Capital Regulated By Any Authority?
They are registered in Saint Vincent & the Grenadines, and also they provided a registration number, but it is a renowned fact that this registration is not an authorization confirmation.
Pros and Cons
- The minimum deposit is low.
- There are a variety of trading instruments available.
- The broker is not regulated.
- There is no information about the management team or ownership structure.
- There have been complaints of withdrawal problems.
How Does GoodTrade Capital Reach To Their Prey?
GoodTrade Capital uses a variety of methods to reach potential victims, including:
- Online ads
- Social media
- Cold calls
The ads and social media posts often make unrealistic promises of high profits with little risk. The cold calls are typically from salespeople who are very aggressive and persuasive.
The minimum deposit for a GoodTrade Capital account is $200.
GoodTrade Capital offers a web-based trading platform. The platform is not very user-friendly and lacks some of the features that are available on other platforms.
The spreads on GoodTrade Capital are wider than the spreads on other regulated brokers. This means that traders will pay more for each trade.
GoodTrade Capital offers high leverages, up to 1:500. This means that traders can control a large position with a small amount of capital. However, high leverages can also magnify losses.
Packages and Products They Offer
GoodTrade Capital offers a variety of trading packages, including:
- A basic package that allows traders to trade forex and CFDs.
- A premium package that offers more features and benefits, such as access to more trading instruments and higher leverages.
- A VIP package that offers the most features and benefits, such as a dedicated account manager and personal trading coach.
Withdrawal and Deposit Method
GoodTrade Capital offers a variety of deposit methods, including credit cards, debit cards, and wire transfers. Withdrawals can be made via credit cards, debit cards, wire transfers, and Skrill.
What Do Their Previous Traders Say?
There are a number of complaints about GoodTrade Capital online. Some traders have reported that they have been unable to withdraw their funds, while others have said that they have lost money due to the high spreads and leverages.
Summing Up- Why Should Not You Trust GoodTrade Capital
There are a number of reasons why you should not trust GoodTrade Capital. The broker is not regulated, there is no information about the management team or ownership structure, and there have been complaints of withdrawal problems. If you are looking for a forex or CFD broker, it is best to choose one that is regulated by a reputable authority.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with GoodTrade Capital, you may be able to recover your funds through a chargeback or a refund from your credit card company.
We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have lost money with GoodTrade Capital, please contact us for a free consultation. We can help you understand your options and recommend the best course of action to recover your funds.
File A Complaint Against Scam Broker's
GoodTrade Capital is a scam broker. The company is not regulated and there have been complaints of withdrawal problems. If you are considering trading with GoodTrade Capital, I urge you to reconsider. There are many legitimate forex and CFD brokers out there that you can choose from.
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