Are you tired of falling for scam brokers? Have you had enough of reading fake positive reviews that lure you into a trap? Then you might want to read this article about GoldNrise. We will expose the truth behind this broker and warn you about the risks of dealing with it. Get ready to discover its dark side.
- GoldNrise General Information
- Registration and Client Portal Review
- GoldNrise Trading Conditions
- Account Types
- Trading Platform
- GoldNrise — Deposit and Withdrawal of Funds
- Additional Options
- Is GoldNrise a Scam?
- Legal Information and License
- Goldnrise.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
GoldNrise General Information
|Address||40 Bowling Green Ln, London EC1R 0NE|
|Leverage||Up to 1:500|
|Trading Platform||Unknown FxPro MT5|
Registration and Client Portal Review
One of the first things we noticed about GoldNrise was its poorly designed website. It seemed to be a mix of different templates, and while the broker boasts about itself on the homepage, it urges clients to open an account immediately. The website appears to have been hastily thrown together with no regard for user experience or aesthetic appeal. The lack of attention to detail is obvious, and it suggests that GoldNrise is not a professional or reputable broker. The platform is uninformative, and it fails to provide even basic information about the broker’s services or policies.
Opening an account with GoldNrise requires a promo code, which is not provided on the website. While a broker-manager may give you one during a call, it’s frustrating not to know how to access the Client Portal. It’s not ideal when a broker requires a promo code for registration because it adds an unnecessary step to the process and can create confusion for potential clients.
Without clear instructions on where to obtain the promo code, clients may feel discouraged from continuing with the registration process. Additionally, it may give the impression that the broker is trying to make the registration process exclusive or limited to a select few.
GoldNrise Trading Conditions
It seems that many brokers tend to exaggerate the superiority of their trading conditions. It is detrimental for traders as they may make investment decisions based on unrealistic expectations, leading to losses. Besides, it creates a culture of distrust in the industry, because traders may feel that brokers are not being transparent with them. The same thing GoldNrise does.
You should understand that GoldNrise is a regular CFD broker. That’s all. Traders have five account options to choose from. As usual, the more expensive accounts are offering more services. The minimum deposit is $500, but there is no information on the size of spreads and commissions for any account. The broker offers smart money management and trading insurance. By the way, trading insurance is not a real thing in the market. The broker also provides education and market analysis, but the analysts are anonymous and likely do not have the qualifications or experience to provide quality analysis.
We were confused when we saw GoldNrise’s trading platform provided to its clients. They claim that use FxPro’s MT5. However, MT5 does not belong to FxPro. It was developed by MetaQuotes Ltd. FxPro and other brokers have simply acquired a license to use the platform.
Additionally, GoldNrise’s offer to download an app for trading is essentially useless since the broker is not served by MetaQuotes. We already have the downloaded app, but GoldNrise is not among the list of supported brokers. The only possibility is that this dummy company may work as a part of FxPro’s affiliate program and under the guise of a broker, it can bring in clients to FxPro to receive a commission.
GoldNrise — Deposit and Withdrawal of Funds
GoldNrise does not specify deposit methods clearly, only mentioning that deposits and withdrawals can be done through credit cards and bank transfers, with possible commissions. It seems that clients should figure out for themselves how to fund an account.
Despite the closed registration, GoldNrise still requires clients to go through a verification process. However, the details of this procedure are not described in detail on the website, and the KYC Policy document is missing. Nonetheless, we can assume that the process will be standard, involving identity verification and address of residence confirmation, with the possibility of providing a bank statement.
GoldNrise offers bonuses and a partnership program, with large bonus amounts depending on the account you choose. However, it’s difficult to withdraw these bonuses due to certain conditions that need to be met. Additionally, regulators do not look kindly upon this practice.
Is GoldNrise a Scam?
As experts in investigative reporting, we have the knowledge and skills to identify potential scams in the financial industry. In case the arguments presented so far are not convincing enough, here are some additional concerns regarding GoldNrise.
Legal Information and License
GoldNrise claims that IOS Investments LTD is its management company, which is registered and licensed in Belize. However, the fact that IOS Investments is listed in the registry of offshore companies in Belize does not necessarily mean that it is licensed to operate as a broker. The International Financial Services Commission (IFSC) is the regulatory authority that oversees and issues licenses to brokers in Belize. However, a search of the IFSC licensed providers list does not yield any results for IOS Investments. Therefore, GoldNrise’s claim of being licensed by IFSC is either a blatant lie or a sign that they are trying to pass themselves off as another entity.
Goldnrise.com Domain Info
Although the broker does not specify how long they have been operating, it is highly unlikely that you have heard of GoldNrise before. Moreover, a simple domain check reveals that the company is a newcomer to the industry, with its website launched in December 2022.
The contact information provided by GoldNrise raises further doubts about the legitimacy of the broker. Even though the company claims to be registered in Belize, its contact details include a phone number in the United States and an address in England. This contradiction raises questions about the broker’s true location. Furthermore, upon closer inspection, there is no confirmation that GoldNrise actually has an office at the English address provided.
Besides, this kind of company is not unique in its kind. We have seen similar ones before. It’s all about memorable branding and marketing tactics, with a similar website layout, registration forms, promotional codes, and other minor details. It’s a whole line of scams. For instance, you may also want to take a look at brokers such as Virgobanc and Torobanc. They are all part of the same network as GoldNrise.
Worse yet, what we’ve noticed is the fraudulent marketing tactics used by GoldNrise. They have no qualms about buying positive reviews, and some websites even mark these reviews as fake. Really. It’s hard to explain the appearance of positive comments like “top-notch broker,” “best broker,” “one of the best in the Forex market today,” and so on for a company that has no name, no registration, and no decent trading conditions. It’s even funnier that these comments were written on the same day and only a few minutes apart. It’s truly despicable.
Pros and Cons
- Fake legal data
- No license
- Short operation period
- Whole scam line
- Fake and purchased reviews.
Frequently Asked Questions (FAQ)
GoldNrise offers usual CFD trading and a couple of additional services such as education and analysis.
You should deposit at least 500 dollars according to broker conditions.
No, and no again. Such anonymous fraudulent companies are always aimed at one thing only – to take your money.