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Golden Brokers is a broker that allows traders to invest in more than 700+ instruments anywhere at any time. However, do not be so quick to make any investment deposit yet, and they expose numerous scum traits. Hence in this unbiased review, we highlight some of the red flags golden brokers.my showcase. There a lot of factors that expert investors within the trading niche consider before investing.

However, you can consider investing with legit forex brokers that show transparency in their styles of operation. Also, trading is not child’s play, and blindly trading will attract blind results meaning no profits. Investors can open live trading accounts or choose the demo account and familiarize themselves with the software. We would recommend that you stick to the demo account until they make further updates.

Golden Brokers Review, Golden Brokers Company

To use the platform, you can use the web trader or download the app. They also assure traders of 24/5 support on any platform-related queries. The sales page is poorly done, and a lot of relevant data has been left out, raising more doubts about the services they assure traders. They claim to offer traders software that is dedicated to meet all their trade needs. However, the kind of algorithm Golden Brokers uses is unknown, and you risk trusting the wrong software.

Golden Brokers Review

Golden Brokers fails terribly on transparency and is probably the reason we cannot recommend them. The founders of this shady broker are unknown. They do not mention any qualifications. Therefore, your funds are at risk, but investing with Golden Brokers also puts your personal data at risk. Thus you also may end up dealing with criminals who may not have any knowledge of the trade.

They claim to combine an award-winning technology that helps in reaching the world’s largest liquid markets. The kind of award the software won is unknown; hence the same statement may have been made up to lure you the deposit. Golden Brokers brags about providing traders with a wide range of trading instruments, and you can also trade metals and energy. Furthermore, how they approach trading and come up with profits is unknown.

You should know the kind of risk management measures the company has to prevent avoidable losses. They even brag about having won third place for the best broker award. Meanwhile, news spreads fast in this generation. Hence if they are making such a huge difference in trading, the same would be recognized globally. Consequently, the traffic level they attract is very low, and the awards are just false. To access the services they offer, you can download the app via Appstore or Google Play.

How Golden Brokers Operates

Golden Brokers downloadable platform suits Meta Trader 5. However, besides this data, there is not much regarding how they reach the alleged profits and style of operation. Also, scammers tend to all operate similarly, and Goldenbrokers.my will not operate any different. The company will contact you via emails and SMS that feature attractive bonuses and profit margins that way over the norm.

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Attaining high profits without a suitable plan is almost impossible. Hence once you fall for the catch and deposit your funds, that is the end of business between you and the scammers. They may result in blocking your acres to many of their services or totally ignore you till you give up on them.

Transparency should always be a vital factor to consider before you proceed to make any deposits or trades. Golden Brokers seems to have no trading taking place, and if they were making any profits, the same should be visible through trade history. Past trade data for at least three months or more is highly recommendable.

Golden Brokers Funds Safety

Golden Brokers has no guarantee that your money is safe despite claims of full compliance with the latest rules governing customers’ funds and data. There are no measures that have been taken to protect your money. This is evident because they do not have any banking information to show that your money is safe. The anonymous founders of Goldenbrokers.my may even be keeping the money in their own personal accounts.

GoldenBrokers.my Review, GoldenBrokers.my Features

Golden Brokers’ only beneficiaries are the platform owners. This is because they do not showcase any past transactions that show how traders are benefiting from the services they provide. Lack of transparency is also a major factor that you should consider while determining your funds’ safety.  Consequently, tracking the platform for a refund is impossible as they do not have any refund policy.

Clients Feedback

Golden Brokers only has negative feedback, and your money is not safe here. Scammers pay quacks a small sum of money to come up with fake positive remarks on them as an attempt to cover for their murkiness. Also, they even further use stock images of alleged happy investors they claim to have benefited from their ‘ incredible services.’

Fake testimonials are common among Ponzi Schemes; hence you should always be capable of verifying similar data. Besides, you expect to attract similar results as the same customers who invest with Golden Brokers. The returns they attract may be pleasing and could be the main reason for hiding past trade transactions. They also claim that the technology in use has worn the top 3 best tools, yet the same info has no backup.

Golden Brokers Contact Support

Golden Brokers customers can reach the platform for queries via telephone at +601548770962 or through email [email protected] However, the same info may only fiction until they have gotten you to deposit funds. Because most scammers operate, you should verify that the contact support available is working before investing your funds.

The location address they provide pins to Golden Brokers Limited Level 14 (B) and 14 (C) Main Tower Financial Park Labuan Complex Jalan, Merdeka 87000 Labuan Malaysia. The address is definitely made up as it does not have any association with Golden Brokers. Hence there is no guarantee that the contact info will be beneficial to investors.

Regulation

Golden Brokers claims to be regulated by LFSA, and this statement is false. The company is not recognized under any regulatory body, and your funds are not safe. Unregulated platforms do not last for long in the market, ending up disappearing with customers’ funds. Meanwhile, regulated forex brokers showcase a high level of transparency, and you can easily verify similar data that they showcase.

Different countries have set up measures to protect their citizens from the rapid increase of scammers. Most countries, if not all, require trade platforms to follow regulation. The company’s founders hide their details to prevent facing criminal prosecutions for illegally generating funds from the public.

Final Verdict

Golden Brokers does not reveal the style that they use for operation and the algorithm the software uses. They do not have any data of the founders or any qualifications that show you are dealing with professionals. The company does not have any positive feedback or testimonials that you can rely on to earn reasonable profits. They may easily break all trading guidelines with no one to hold accountable for any losses.

Additionally, if they were making profits, the same should be visible via past trade data. Accordingly, to avoid falling for scammers, you can choose to invest with legit transparent forex brokers that use legit trading strategies. Avoid Golden Brokers at all costs and always read thorough reviews from legit sources.

What the regulatory status of Golden Brokers?

Sadly, this company is not licensed.

What do investors have to say about this company?

Golden Brokers only has negative feedback from traders that have engaged with them.

Does Golden Brokers utilize an award winning technology?

No, the platform is using false information to win over investors.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Review

Dogecoin Price Is Slashing Low, Will It Rebound In Coming Days?

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Dogecoin price with its multiple rallies of more than 100% in a day attracted many new investors and traders to the ecosystem. However, the price was shaken since the SNL snub and remained low-key until a fresh slump dragged the price below $0.2. So will the DOGE price still go to the Moon?

The cryptocurrency that began its journey as a joke or a meme, remained constant below one cent till the end of January 2021. Then something big happened, the DOGE price along with GameStop showcased an eye-catching rally. The value of DOGE shot up to 7.5 cents within a small time frame and slid down closer to 2 cents rapidly. 

The meme token, Elon Musk tweeted about continuously, reached an all-time high in mid-April. The market capitalization also spiked, securing its place within the top 3. However, the dip that followed squeezed more than $60 billion. Since then, the price rallied very occasionally and the cryptocurreny may require little more time to go to the moon.

Also Read: Dogecoin Price On Discount, Will The Bulls Jump In To Make Profit?

Dogecoin Price Analysis, What Is Awaited For The Currency Next!

The entire crypto space is trembling with the FUD probably due to some external factors which resulted in a serious drain. The Bitcoin prices were slashed along with most of the cryptocurrencies in the space. Dogecoin price too could not sustain the trembled situation and dipped profusely. 

DOGE price currently is attempting very hard to sustain above $0.2 which appears to be a very tough job to accomplish. Despite the decline, the price tried to pull a leg up in the early trading hours but failed. The dip was so harsh that the RSI levels in the hourly chart dipped below 10. However, a little recovery again raised these levels above 40. 

dogechart

The trading volume also jumped notably and impressively the buying volume uplifted the price from the monthly lows around $0.16. Currently, at the press time, the dogecoin price is $0.2021 with a drop of 21.16% in the past 24 hours. 

Currently, it is mandatory for the dogecoin price to sustain above $0.2 and head towards the resistance levels around $0.29. But if the dip continues, revisiting the lower support levels at $0.107 and later around $0.06 may be imminent. The indicators for the DOGE price point a sell signal, which is a little worrisome for the cryptocurrency right now.

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Review

Will Bitcoin Death Cross Pave Way for a Golden Cross

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Bitcoin plunged to a two-week low on Monday, falling as much as 11.4% to $31,735. The flagship crypto has been highly volatile, as it has dropped more than 20% in the last six days and is almost half the price of its April high of nearly $65,000.

The token’s price pattern on the charts has recently formed a death cross pattern. i.e, the crossing of BTC’s 50-day moving average below the 200-day moving average.

This infamous pattern has triggered a conversation amongst traders and analysts. While some consider it as a bearish indicator, some believe the prices will recover and surge higher than ever before.

Historically, Bitcoin’s formation of a death cross in March 2020 proved no hindrance to profits, as it rose two months later and formed a golden cross. However, a death cross in November 2019 resulted in the coin’s price falling a month later.

Popular analyst and trader Benjamin Cowen has weighed in on the death cross pattern. He believes that moving averages are lagging indicators that often tell us what we already know.

Cowen says Bitcoin will have lengthy bull cycles, and it is in for a long period of consolidation and range. The expert claims that he believes BTC Price will reach $100,000, but that it will take longer than most people think.

The analyst believes that now that the death cross is nearly complete, Bitcoin bulls can look forward to a probable “golden cross”.

“One nice thing about a death cross is that the next thing you can maybe look forward to is a future golden cross. Now, I don’t know how long it’ll take… We know that historically speaking, at least in recent years, it could take six months before we get above the 20-week [moving average] and then hold it as support.”

Not just Cowen, Popular analyst Plan B has also weighed in, He took to Twitter and pointed at the timelines of previous death crosses in Q4 2019 and Q1 2020 and what followed further.

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Review

If Bitcoin Price breaches this level, an Altcoin season will begin!

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Bitcoin always dominated the crypto markets and held the highest market share. Even at the beginning of 2021, Bitcoin owned a 71 % share of the crypto market, while altcoins (excluding those in top ten) had just 10%. But now the trend has changed. Since then, the percentage has steadily declined, with BTC’s dominance dropping to 40% in late May and altcoins rising to 23%.

Even the altcoins in the top ten have steadily increased their market share. The most notable one is Ethereum, which has continued to grow throughout the course of the year and currently owns over 17.3 %of the market. 

Is an Altcoin season due to begin?

The above-stated stats regarding dominance is vital to question and know if an altcoin season will kickstart soon. Now, there is a probability of an alt season, if Bitcoin makes a bullish rebound. This positive reversal would occur if and when the coin continues to surge and maybe breaks through resistance levels.

Popular Analyst Chico Crypto in his recent Youtube video said Bitcoin is following the Wyckoff accumulation pattern. If the price gets back to $50k, it will be a confirmation that the bulls are back and alt season will be back again.

According to him, the breach needed for the altseason to arrive is predicted to happen around July 10 based on the Wyckoff pattern that is now forming. This would be the year’s first altseason. 

Some cryptocurrencies have outperformed Bitcoin in terms of price growth and retail investor interest this year. Although the May crash halted their growth, an alt season will make up for it and even propel the tokens to new all-time highs.

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