de | cn | ru

HK Golden Crown Review - is it scam or safe?

HK Golden Crown Review - is hkgoldencrown.com scam or good forex broker?

RATING: 1 / 1 REVIEWS HK Golden Crown
HK Golden Crown is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Min. deposit Max. leverage Spread
Standard  $100 1:100  2.6 pips + $30 /lot

 

HK Golden Crown is a forex broker is allegedly based in Hong Kong. It uses the MetaTrader 4 platform and seems to have a single account type which we called Standard for convenience.

 

Read the full review to see both the strong and weak sides of this broker and why we ultimately gave them this low score.

 

 

HK Golden Crown Advantages

 

Access to MT4, solid leverage

Like the majority forex brokers, HK Golden Crown provides its services on the MetaTrader 4 (MT4) platform. There are numerous reasons for the popularity of this piece of trading software among traders. First, the MT4 is very intuitive and its programming language is fairly easy to learn. Second, it has proved its reliability over the years. Third, it has a lot of professional tools and features – great charting, support for automated trading via Expert Advisors, good back-testing environment, customization options and more.

 

 

>> Looking for a better MT4 broker? <<

 

 

Besides, when we tested HK Golden Crown’s MT4, we found out that the broker offers solid leverage levels, up to 1:100. While other unregulated brokers offer even higher ratios, keep in mind that this involves greater risk of loss.

 

 

HK Golden Crown Disadvantages

 

Not licensed

This broker says to be owned and operated by HK Golden Crown Trading Ltd., a company allegedly based in Hong Kong.

 

 

Click on an image to zoom in.

 

In order to operate legally in this country, financial services providers in HK have to be authorized by the Hong Kong’s Securities and Futures Commission (SFC). However, we find no mention of a license issued by the SFC. Instead, the broker’s website claims membership with the US’ National Futures Association (NFA). After diligently checking both online registries, we may safely conclude that HK Golden Crown does not fall under any regulatory oversight whatsoever. 

 

 

>> Forex brokers regulated by Hong Kong’s SFC <<

 

 

This is a sign or trouble, because, as we keep reiterating in our reviews, regulation is the single most important factor when choosing a broker to trade the forex market. If you take the risk to invest with a broker that does not hold a legit license, you have no assurance for the security of your funds, nor that the company will fulfill its part of the contract. Unregulated brokers are not accountable to any governmental agency and can basically do whatever they like with clients’ money.

 

Trading conditions not disclosed

Another worrisome sign regarding HK Golden Crown is the broker doesn’t provide much details about the trading environment they provide. Its website does not include information on different account types, nor essential trading conditions like spreads, leverage ratios, etc. We only found some specifications for trading in spot gold and silver on the broker’s website.

 

Extremely high trading cost on demo

 

 

 

When we tested the broker’s demo MT4, we found the EUR/USD spread floating around 2.6 pips which is not lucrative at all. On top of that, a commission of $30 applies, which means that the average trading cost for this pair is around 5.7 pips per standard lot. This is pretty excessive, considering that most brokers charge 1.0 – 1.5 pips on the benchmark EUR/USD. 

 

 

>> Compare the spreads of top forex brokers <<

 

 

Very limited product portfolio

Another thing we spotted on HK Golden Crown’s demo MT4 is that the broker offers very few financial instruments for trade. There are only 11 currency pairs, CFDs on Gold, Silver, HK50 index, WTI Spot oil, and Bitcoin. Most brokerages offer at least 20 forex pairs and a lot more CFDs.

 

Possibly related to scam broker Golden Day Profit Kamyip

As we went through HK Golden Crown’s website and tested its platform, we got reminded of another Hong Kong-based broker - Golden Day Profit Kamyip. The logos of the two brokers are identical, as well as their website layouts. Their MT4 trading conditions are also the same, so we are pretty sure that HK Golden Crown and Golden Day Profit Kamyip are run by one and the same people.

 

 

 

Click on an image to zoom in.

 

If you care to read some of the comments we got on our review of Golden Day Profit Kamyip, it’s pretty obvious that this broker is a complete scam. So, you’d better stay away from both brokers.

 

 

Conclusion

 

Overall, we cannot find anything attractive about HK Golden Crown’s offer – the broker is not licensed, offers very few instruments for trade, and the trading costs appear very high. So, traders should direct themselves to better trading options to which we have linked throughout this review. 

 

Finally, to sum up the advantages and disadvantages of HK Golden Crown in a few words:

 

Pros Cons

MT4 available

Not licensed

Solid leverage

Trading conditions not disclosed

 

Extremely high trading cost on demo

 

Possibly related to scam broker Golden Day Profit Kamyip

 

Very limited product portfolio

 

Latest news about HK Golden Crown
No news about HK Golden Crown . Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for HK Golden Crown

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Goldencrown

Met some Chinese traders. The have taught me how to use metatrader 4. I want to invest. I try to research some info about the company see bad review about no regulation or license. But I never see anything about a scam where they stole money.. I might try it.

Junior 08/16/2019
de | cn | ru