Good Trade Capital is a forex broker that has been in operation since 2017. The company claims to be regulated by the Financial Conduct Authority (FCA) in the UK, but this is not true. The FCA does not regulate Good Trade Capital and has issued a warning against the company.
Company Overview
Good Trade Capital is a privately held company that is headquartered in Saint Vincent and the Grenadines. The company does not have a physical office in the UK or any other regulated jurisdiction.
They provided their address in Australia, but when we called the number, it was switched off.
Does Good Trade Capital Have Any License?
No, Good Trade Capital does not have any license to operate as a forex broker in any regulated jurisdiction. The company claims to be regulated by the FCA in the UK, but this is not true. Also, in the above image, you can see a license number, but it is not clear what is this for.
Is Good Trade Capital Regulated By Any Authority?
It is not regulated by any financial regulatory authority. The company is located in Australia according to their contact details, but did not find any regulation information from the ASIC.
Good Trade Capital Pros and Cons
Pros
- The company offers competitive spreads and leverage.
- Good Trade Capital has a user-friendly trading platform.
Cons
- Good Trade Capital is not regulated by any financial regulatory authority.
- The company has a history of complaints from customers.
- Good Trade Capital is not transparent about its fees and charges.
How Does Good Trade Capital Reach To Their Prey?
Good Trade Capital targets new traders who are looking for a low-cost way to trade forex. The company uses a variety of marketing methods to reach its target audience, including online advertising, social media, and cold calling.
Technical Details of Good Trade Capital
Minimum Deposit
The minimum deposit to open an account with Good Trade Capital is $250.
Trading Platform
Good Trade Capital uses the MetaTrader 5 trading platform. MetaTrader 5 is a popular and well-respected trading platform that is used by millions of traders around the world.
Spread:
The spreads offered by Good Trade Capital are competitive. The average spread for EUR/USD is 1.0 pips.
Leverages:
They offers leverage up to 1:500. This means that you can control a position worth $500,000 with a deposit of just $1,000.
Packages and Products They Offer
Good Trade Capital offers three different account types: Standard, Gold, and Platinum. The Standard account is the most basic account type and offers the lowest spreads. The Gold and Platinum accounts offer lower spreads and more features, but they also require a higher minimum deposit.
Good Trade Capital also offers a variety of trading products, including forex, commodities, indices, and cryptocurrencies.
Withdrawal and Deposit Method
This company offers a variety of withdrawal and deposit methods, including credit cards, debit cards, wire transfers, and e-wallets.
What Do Their Previous Traders Say?
There are a number of complaints about Good Trade Capital online. Some traders have complained about the company’s high fees, while others have complained about the company’s poor customer service. There have also been reports of Good Trade Capital refusing to allow traders to withdraw their funds.
Summing Up- Why Should Not You Trust Good Trade Capital
Good Trade Capital is an unregulated forex broker with a history of complaints from customers. The company is not transparent about its fees and charges, and there have been reports of Good Trade Capital refusing to allow traders to withdraw their funds.
If you are looking for a forex broker, it is important to choose a company that is regulated by a reputable financial regulatory authority. You should also make sure that the company is transparent about its fees and charges.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Good Trade you may be able to get your money back through the Financial Ombudsman Service (FOS). The FOS is a free and independent service that can help you resolve disputes with financial services companies.
But, these services may be a long process to be done. If you need a quick response, contact us. We will provide you with free consultation along with some premium education resources to help you understand the scam scopes. Also, our recommended services will help you recover the lost funds.
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Final Thoughts
Good Trade Capital is a scam broker that should be avoided. If you are considering trading with Good Trade Capital, we advise you to rethink and research more to find a trusted broker to invest.
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