METAGOLD
Pros and Cons
Pros
- High leverage options up to 1:600
- Variety of account types including Standard, ECN, and VIP
- Supports multiple trading instruments: Forex, commodities, crypto, CFDs, stocks
- Tight spreads starting from 0.0 on select accounts
- Free deposit and withdrawal methods available
Cons
- No regulation by major authorities
- High minimum deposit requirement of $500
- Limited educational resources available
- Outdated web trading platform
- High spreads on certain trading instruments
Basic Information
User Reviews
METAGOLD Overview
Established in 2022 and headquartered in Tbilisi, Georgia, METAGOLD is a forex broker that operates without any regulatory oversight. This unregulated status raises potential risks for traders, as it lacks the protection typically offered by recognized financial authorities. While METAGOLD aims to provide a transparent trading environment, its lack of regulation should be carefully considered by potential clients looking for a trustworthy broker in the forex market.
METAGOLD offers a diverse range of trading instruments, including forex, commodities, cryptocurrencies, and CFDs, appealing to various trader preferences. The broker supports multiple account types with competitive leverage options up to 1:600, accommodating both novice and experienced traders. Users can access the MetaTrader 5 platform, which is equipped with advanced charting tools and mobile capabilities for seamless trading on the go. Customer support is available through various channels, including email and live chat, ensuring traders receive assistance as needed. With low spreads and a user-friendly trading environment, METAGOLD positions itself as a viable option for those looking to engage in forex trading, albeit with the awareness of its unregulated status.
Is METAGOLD Safe? Regulation Analysis
Client Fund Safety
Is METAGOLD Regulated and How Are Client Funds Protected?
The broker METAGOLD is not regulated by any recognized financial authority. This lack of regulation poses significant risks for traders, as there are no formal investor protection mechanisms in place. Without oversight from a reputable regulator, clients may face potential issues such as inadequate fund protection, higher susceptibility to fraud, and limited recourse in disputes. It is crucial for potential investors to be aware of these risks when considering trading with an unregulated broker like METAGOLD.
Trading Products and Services
What Trading Instruments Does METAGOLD Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
METAGOLD offers a diverse range of trading instruments across various asset categories, making it suitable for different types of traders. With options in Forex, commodities, indices, stocks, and cryptocurrencies, users can tailor their trading strategies to meet their individual needs. Whether you are a beginner seeking to explore the Forex markets or a seasoned professional looking to diversify your portfolio with commodities and indices, METAGOLD provides the necessary tools and products to facilitate effective trading. The availability of multiple asset categories not only enhances flexibility but also supports a range of investment strategies, catering to both short-term traders and long-term investors.
Account Types and Trading Conditions
What Account Types and Fees Does METAGOLD Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly platform | Suitable for traders starting with smaller capital |
| Professional Account | Experienced traders | Higher leverage, lower spreads | Requires proof of trading experience |
| Corporate Account | Businesses and institutions | Custom services, dedicated account manager | Requires corporate documentation and registration |
| Islamic Account | Traders seeking Sharia-compliant options | Swap-free trading | Requires declaration of religious compliance |
| Demo Account | All traders for practice | No risk, virtual funds | Ideal for testing strategies and the platform |
Account Opening Process
To open an account with METAGOLD, traders must follow a structured process that includes several steps. Initially, applicants need to submit personal information, including their name, contact details, and date of birth. Following this, employment and financial information must be provided to help assess the applicant’s trading experience and financial status. Identity verification is a critical component, requiring submission of identification documents such as a government-issued ID and proof of address. METAGOLD also offers flexibility in account management, allowing users to upgrade to a professional account as they gain experience and meet the necessary criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive pricing for major pairs |
| CFDs (Stocks) | 1.5 | $5 per lot | Varies by stock |
| CFDs (Indices) | 2.0 | $3 per lot | Standard fees apply |
| CFDs (Commodities) | 3.0 | $5 per lot | Range of commodities available |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
In addition to trading fees, METAGOLD has several other costs to consider. There are no deposit or withdrawal fees, making transactions more accessible for traders. However, an inactivity fee may apply if an account remains dormant for an extended period. While using the trading platform, users should be aware of any applicable platform usage fees. Overnight interest may also be charged based on swap rates for positions held overnight. Additionally, currency conversion fees may apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does METAGOLD Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| MT5 | Windows, macOS, iOS, Android | Encryption, one-click trading, push notifications, economic calendar | Demo accounts, VPS, API interface |
| Web Version | Any device with a browser | Secure login, symbol lookup, fast order execution | Demo accounts |
| Mobile App | iOS, Android | Biometric security, price alerts, market search tools | Demo accounts |
The MT4 platform is well-suited for traders who prefer a long-established interface with robust functionalities, offering a variety of order types and technical analysis tools. MT5 caters to advanced traders with its enhanced capabilities, including support for additional order types and automated trading options.
METAGOLD’s mobile app ensures that traders can manage their accounts and receive real-time alerts while on the go. All platforms emphasize secure login procedures and provide efficient market search features, facilitating a streamlined trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-3 days | No platform fee, 0.5% bank charge | Min 100, Max 10k/day | EUR |
| GrabPay | Instant | No fees | Min 50, Max 5k/day | SGD, MYR |
| SPEI | Instant | No platform fee, 1% charge for amounts > 1k | Min 200, Max 15k/day | MXN |
| Cryptocurrency Transfer | Instant | No fees | Min 0.01 BTC, Max 0.5 BTC/day | BTC, ETH |
Minimum Deposit
METAGOLD requires a minimum deposit of $50 to open an account. This amount remains consistent across all payment methods, ensuring accessibility for traders looking to enter the forex market.
How to Withdraw
To withdraw funds from your METAGOLD account, follow these steps:
- Log in to your METAGOLD account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred payment method from the available options.
- Enter the amount you wish to withdraw, adhering to the limits specified.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and monitor your email for confirmation and processing updates.
Customer Support
METAGOLD Customer Support Overview
Support Channels
METAGOLD offers multiple contact methods to ensure effective customer support. Clients can reach out via:
- Email: For detailed inquiries, you can email METAGOLD at support@fxmetagold.com.
- Live Chat: A convenient option for quick questions is available directly on the METAGOLD website.
- Telephone: Customers can call +995 322151009 for immediate assistance.
- Social Media: Connect with METAGOLD through various social media platforms for updates and support.
Service Availability
METAGOLD provides customer support 24/5, ensuring help is available throughout the trading week. Additionally, the support team offers multilingual assistance in several languages, enhancing communication for diverse clients.
Additional Resources
To further assist customers, METAGOLD provides various educational resources including:
- Video Tutorials: Step-by-step guides for trading platforms and strategies.
- Webinars: Live sessions covering market analysis and trading techniques.
- Market Analysis: Regular updates and insights into market trends.
- Trading Signals: Recommendations to help clients make informed trading decisions.
Frequently Asked Questions
METAGOLD operates without any valid regulatory oversight. This means it is not governed or monitored by recognized financial authorities, which increases the risk for traders. It’s important for potential clients to be aware of this and consider the risks associated with trading with an unregulated broker.
METAGOLD offers various trading conditions including maximum leverage up to 1:600 and a minimum deposit starting from $100, depending on the account type. The brokerage provides access to a range of financial instruments including forex, commodities, and cryptocurrencies. However, traders should be cautious of the potential risks given the lack of regulation.
Since METAGOLD is unregulated, there are no guarantees regarding the security of your funds. It is crucial to conduct thorough research and consider the risks before depositing any funds. Traders should be aware that unregulated brokers may not offer the same level of protection as regulated ones.
METAGOLD provides customer support through various channels including email (support@fxmetagold.com), phone (+995 322151009), and online chat. Additionally, they are active on platforms like WhatsApp and Telegram, making it easier for clients to reach out for assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.