Goldman Markets Review: Is It a Safe Broker or a Scam?

So you don’t get bored, we present the Goldman Markets review, where we discuss yet another scam broker that invites traders to enter “A World of Possibilities.” Here, you’ll find everything you love: promises of the best trading conditions, exceptional technology, lightning-fast order execution, and even “AI Insights.” However, the only thing perfected here is the ability to steal a trader’s money. Our goal is to reduce the number of victims of fraud, which is why we’re explaining why this scam platform cannot be trusted.

Goldman Markets General Information

Website	https://goldmanmarkets.net/, https://goldmanmarkets.io/
Phone Number	+41717793387
Email	support@goldmanmarkets.email, legal@goldmanmarkets.email
Address	Limmatquai 4, Zurich, Switzerland, 8001
License	No
Minimum Deposit	$250
Assets	CFDs
Leverage	Up to 1:400
Trading Platform	Webtrader

Registration and Client Portal Review

The creators of the official Goldman Markets website probably put in some effort. At least, they worked so hard on the homepage that it turned out to be incredibly long and, as a result, unbearably boring. The rest of the content isn’t any better — reading advertising slogans without any factual support and texts with zero informational value is bound to get old quickly for any visitor.

In short, this broker is no different from dozens of similar scam projects. It even uses some of their tactics without any modifications. For example, registering a new user takes about a minute — just fill out a few fields in a standard form:

• Username.
• Contact details (email and phone number).
• Country of residence.
• Password.

You are also required to accept the User Agreement and Risk Disclosure Notice. However, filling out and submitting the form does not automatically make you a registered Goldman Markets client. Instead, visitors receive the message: “We have received your request, see you soon!”

Unfortunately, we were never able to see them “soon.” It seems that on this platform, you can wait for a response for weeks. As we said, this is a well-known trick. Scammers rely on interested users contacting customer support, at which point they can open accounts for them and, at the same time, try to persuade them to deposit more money. As for everyone else, the company’s staff apparently sees no need for them to have accounts at all.

Account Types Review

For potential clients of any broker, the most important aspect is the trading conditions. Regulated companies publish these openly to help traders choose both a platform and a pricing plan.

We expected Goldman Markets to do the same and provide detailed trading conditions in the account type descriptions. However, the broker took a different approach, displaying only a few parameters:

• Minimum deposit.
• Maximum leverage.
• Minimum spreads.

The broker offers five account types:

• Pioneer. Deposit from $250, leverage up to 1:30, spreads from 3.0 pips.
• Standard. Deposit from $10,000, leverage up to 1:30, spreads from 2.4 pips.
• Pro. Deposit from $50,000, leverage up to 1:400, spreads from 1.9 pips.
• Pro+. Deposit from $100,000, leverage up to 1:400, spreads from 1.2 pips.
• Stellar. Deposit from $250,000, leverage up to 1:400, spreads from 0.6 pips.

Of course, each account type also includes additional features, such as personal manager assistance, financial planning help, and risk management support. However, these options may be more appealing to beginners who lack experience and knowledge of financial markets. For experienced traders, the provided information is far from sufficient for making an informed account selection. But it seems that scammers aren’t targeting experienced traders anyway.

Important Note! One detail stands out: the website creators don’t even know their own trading conditions. The homepage states a maximum leverage of 1:300, while the account type descriptions indicate 1:400.

The owners of Goldman Markets couldn’t resist using a blatantly fraudulent tactic — increasing leverage for traders with larger deposits. For the first two account types, leverage is 1:30, but for accounts requiring deposits over $50,000, leverage jumps to 1:400. This significantly increases trading risks, which is exactly what the broker wants — securing large deposits without effort is always enjoyable for scammers.

The same strategy is used with spreads. The minimum spreads for Pioneer and Standard accounts (3.0 and 2.4 pips, respectively) make trading much harder. (By the way, regulated brokers today don’t even offer such wide spreads on cent accounts!) The company has designed everything to push clients toward upgrading to higher, more expensive plans. Of course, these higher-tier accounts come with higher leverage, bringing the same risks we discussed earlier.

The platform also has a special offer for clients with big money. It’s available for balances of $250,000+ and includes three exclusive account types. However, regular users are not given any details about these accounts — all questions must be answered by a personal manager. We wonder — will that manager also inform clients that their money will never be returned?

Trading Platform

Without an active account — which Goldman Markets never created for us — we were unable to fully explore the platform’s capabilities. However, the limited demo version was more than enough. We only needed to confirm that we were already familiar with this software and, of course, highlight its key problems.

For example:

• Opening multiple charts is not supported. Clients who manage portfolio-based long-term trades or multiple short-term positions (e.g., scalping) won’t be thrilled about having to load charts one by one just to open/close positions.
• Custom chart settings are not saved. A user can customize a price chart — select a timeframe, place indicators, and add graphical tools — but all these settings disappear after a page refresh. There is no auto-save, so traders must start over each time.
• One-click trading is not available. The platform simply does not support this essential function.
• Users cannot create or add their own indicators and trading bots. The terminal does not allow for such customization.

These issues don’t just cause inconvenience or force traders to rethink their strategies — they almost inevitably lead to financial losses. Of course, only the client loses money. Since the broker acts as the counterparty to trades, it profits from client losses. So, was this platform deliberately designed with all these “pitfalls” in mind?

Goldman Markets — Deposit and Withdrawal of Funds

The broker’s official website only briefly mentions payment methods in the FAQ section. In addition, the footer displays logos of the payment systems the company allegedly works with. From what we can tell, Goldman Markets accepts bank transfers, card payments, and cryptocurrencies.

This might be true, but unfortunately, we couldn’t verify it without an active account. However, as experienced traders, we doubt this information. Legitimate brokers who value transparency:

1. Publish their payment details directly on their official website.
2. Specify commission fees and transaction processing times for both deposits and withdrawals.

We found none of this information. It’s likely that Goldman Markets deliberately hides these details from financial regulators (such as tax authorities). This lack of transparency is a common red flag among fraudulent companies.

Verification

Even though new users cannot register independently, they are still required to complete the verification process. The AML Policy outlines the requirements, which include providing:

• Proof of identity — copies of a passport, driver’s license, or national ID card.
• Proof of address — a utility bill copy.
• Credit/debit card verification — photos of both sides with some digits and the CVV2/CVC2 code hidden.

These requirements make sense for a licensed broker. However, in the case of a scam platform (and we are certain Goldman Markets is a fraudulent scheme), such demands seem highly suspicious.

Additional Options

Goldman Markets doesn’t offer any worthwhile features. The broker’s partnership program is no different from similar scam offerings‌ — ‌its main goal is to attract new clients and their money. We highly doubt that participants will ever receive the promised commissions.

As for education, it’s not even worth discussing. The quality of educational materials on the site is so low that it might be useful only for an elementary school student. Even for beginners, these materials are practically worthless and far inferior to free resources available online.

Is Goldman Markets a Scam?

The most compelling arguments when a trader decides to cooperate with a broker are official information about the company. Let’s look at the firm from this point of view.

Legal Information and License

Goldman Markets provides no details about its registration or licensing on its official website. However, it does list an office address in Zurich, Switzerland. We know that to operate legally in Europe, a broker must be registered in the UK, an EU country, or the European Economic Area (EEA), which includes Switzerland, and must hold a license from a local financial regulator.

However, a Swiss business registry search reveals that Goldman Markets is not listed. It seems their attempt to register in Switzerland failed.

Interestingly, the Terms & Conditions contain an unexpected “data leak.” In Section 19 (Governing Law), the broker states that its primary jurisdiction is “saint vincent and the grenadines” (this is a direct quote, including the lowercase letters). The company also claims that disputes will be resolved in the courts of this Caribbean nation.

Yet, a check with the St. Vincent and the Grenadines Financial Services Authority (SVGFSA) shows no record of Goldman Markets. While SVGFSA does not regulate or license Forex/CFD brokers, it does maintain a registry of such firms. The fact that Goldman Markets is missing from this database suggests that it isn’t registered anywhere at all.

In short, Goldman Markets is an unlicensed and unregistered entity, making its brokerage services completely illegal. However, calling them a “broker” is misleading — they don’t facilitate trading at all but merely simulate a platform to steal deposits from unsuspecting clients.

Goldmanmarkets.net Domain Info

To complete the picture, let’s examine the domain’s registration details using WHOIS lookup.

It turns out that GoldmanMarkets.net was registered in October 2024. By the time of this review, the broker had been online for about two months.

Yet, on its homepage, Goldman Markets boasts impressive statistics:

• 50,000+ registered clients.
• $11 billion in trading volume.
• 7+ million transactions.

For this to be true, the company would have needed to:

• Register 800 new clients per day.
• Process trades worth an average of $220,000 per client (split into two trades of $110,000 each).

For a broker that only existed for two months, these numbers are impossible. Clearly, Goldman Markets fabricated this data to gain traders’ trust — but their deception doesn’t hold up to scrutiny.

While preparing this review, it was discouraging that Cloudflare flagged the website https://goldmanmarkets.net/ as “Suspected Phishing.” The hosting account also turned out to be suspended, so we had no choice but to look for a new domain. And we have found it https://goldmanmarkets.io/ was registered on December 4, 2024 and the content there is no different from the previous site.

Needless to say, such behavior of the project owners is another eloquent sign of fraud, since they want to continue their activities and avoid responsibility?

Contacts Review

The contact page of Goldman Markets raises further suspicions. The only valid details provided are a contact form and a couple of email addresses.

However, the phone number is problematic. The company lists a number from St. Gallen (Eastern Switzerland) for an office supposedly located in Zurich. This mismatch looks highly unprofessional and raises doubts about the legitimacy of the office address.

Additionally, Goldman Markets claims to offer 24/7 customer support, yet their listed business hours are from 04:00 AM to 12:00 AM‌ — ‌a contradiction that further undermines credibility.

Another red flag is the absence of social media links. This suggests one of two things:

• The company uses other, possibly illegal methods to attract clients.
• It lacks the resources to maintain a social media presence.

In both cases, the conclusion is clear — Goldman Markets is a scam project.

Pros and Cons

Frequently Asked Questions (FAQ)