Overview of Spring Gold Market
Spring Gold Market, established in China, provides an online trading platform serving a global clientele. It offers an array of trading instruments, encompassing forex, indices, commodities, and shares. Traders can access these assets via the MetaTrader 4 (MT4) trading platform. With account types tailored to varying trading needs, including ECN and Standard accounts, Spring Gold Market aims to deliver accessible and professional trading services. However, it's crucial to acknowledge that Spring Gold Market operates without regulatory oversight, posing potential risks to traders. As such, individuals should exercise caution and conduct thorough research before engaging in trading activities on this platform.
Is Spring Gold Market Legit？
Spring Gold Market is not regulated. It's crucial to highlight that Spring Gold Market operates without any regulatory oversight, implying that it lacks supervision from established financial regulatory bodies. Traders should exercise vigilance and recognize the inherent risks associated with trading through an unregulated broker. These risks may include limited recourse avenues for dispute resolution, potential concerns regarding the safety and security of funds, and a potential lack of transparency in the broker's operations. To enhance safety and security in their trading endeavors, traders are advised to conduct comprehensive research and carefully evaluate the regulatory status of a broker before engaging in trading activities.
Pros and Cons
Spring Gold Market presents traders with a diverse range of trading instruments, including forex, indices, commodities, and shares. Leveraging the popular MetaTrader 4 platform, traders can access advanced tools and features for seamless trading experiences. Additionally, the platform offers multi-lingual 24/7 support, ensuring assistance is available to traders around the clock. Multiple deposit and withdrawal methods further enhance convenience for users. However, it's crucial to note that Spring Gold Market operates without regulatory oversight, potentially exposing traders to risks. Unclear information on minimum deposit requirements and a lack of transparency regarding company policies and procedures may also pose challenges for traders. Overall, while Spring Gold Market provides trading opportunities, traders should exercise caution due to the absence of regulatory supervision and potential limitations in support resources.
Trading Instruments
Spring Gold Market offers a diverse range of trading instruments to cater to various market preferences.
Forex: In the forex market, traders can access majors, minors, and exotics, enjoying flexible leverage of up to 1:200 with an ECN account. With no minimum deposit requirement for a Standard account, traders can easily participate in the currency markets.
Indices: For indices, traders can trade on the movement of 14 major stock markets globally, commission-free, with low latency and variable spreads from just 0.4 points.
Commodities: Commodities trading includes a wide range of options such as coffee, cocoa, cotton, precious metals like gold, silver, platinum, and palladium, as well as energy products like crude oil and natural gas. Traders benefit from low prices, flexible leverage of up to 1:100, and no commission on energy products, with spreads starting from as low as 0.4 points.
Shares: Additionally, traders can buy and sell CFDsof over 60 top-listed US companies, accessing leverage of up to 1:20 without incurring any commission fees. This comprehensive offering allows traders to diversify their portfolios and capitalize on various market opportunities.
Account Types
Spring Gold Market offers two main types of trading accounts: ECN and Standard accounts. Both account types are available on the MetaTrader 4 (MT4) platform, offering a familiar and robust trading experience. Additionally, traders have the flexibility to choose from a wide range of account currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, and HKD, allowing them to manage their trading accounts in their preferred currency.
Leverage
Spring Gold Market offers two main types of trading accounts: ECN and Standard accounts, each with different leverage options. For retail clients, both ECN and Standard accounts come with a maximum leverage of 1:200, providing traders with the ability to control larger positions with a smaller amount of capital. However, for professional clients, the maximum leverage is higher, set at 1:500 for both account types.
Spreads and Commissions
At Spring Gold Market, traders have the option to choose between two primary account types: ECN and Standard accounts, each offering different features regarding spreads and commissions. The ECN account type involves a commission fee for FX trades, starting from 3 USD per lot, per side. This commission-based structure allows for potentially tighter spreads, referred to as “Raw” spreads, which can start from 0 pips. On the other hand, the Standard account does not charge any commission for FX trades, making it commission-free. However, the spreads on this account type are variable, meaning they can fluctuate depending on market conditions.
Trading Platforms
At Spring Gold Market, traders can access the MetaTrader 4 (MT4) platform, which offers versatile compatibility across various devices and operating systems. Whether traders prefer desktops running Windows or Mac OS, mobile devices, or tablets using Android, they can seamlessly trade on the MT4 platform.
Trading Tools
At Spring Gold Market, traders have access to an Economic Calendar that provides real-time coverage of economic events and indicators from various regions worldwide, including Europe, the US, Australia, Canada, China, South Africa, and more. This comprehensive calendar enables traders and investors to stay informed about key economic events that could impact market movements and individual security prices.
Deposit & Withdrawal
At Spring Gold Market, traders have access to a variety of deposit and withdrawal methods to facilitate their financial transactions. Accepted deposit methods include bank transfer, USDT, Neteller, Skrill, and Union Pay, providing flexibility for traders to fund their accounts conveniently.
Withdrawal requests received after 21:00 (GMT) are processed on the following day, while those received before 07:00 (AEST) are processed on the same day.
Funds can only be returned to a bank account in the same name (or joint) as the Spring Gold trading account due to third-party transaction regulations.
Additionally, any International Telegraphic Transfer (TT) fees charged by the banking institution are passed onto the client, with most TTs costing approximately USD$20.
Withdrawals made via Bank Wire Transfer typically take 3-5 working days to reach the client's account, although there may be unforeseen circumstances leading to longer withdrawal times.
To initiate a withdrawal, clients can log into their secure client area, navigate to the Funds tab, and select the Withdraw Funds option to access all available withdrawal options.
Educational Resources
Through the Market News feature, traders gain access to continuously updated information, providing them with valuable insights into the dynamics of global markets. The team of experts meticulously analyzes and interprets price movements across various asset classes, offering traders in-depth explanations and insights.
Customer Support
At Spring Gold Market Limited, customers can reach out for assistance through various contact methods. The primary contact method is via email atinfo@springgold.net or admin@springgold.net. Additionally, customers can contact the support team by calling +1786 628 1209. The company also offers multi-lingual support available 24 hours a day, 7 days a week.
Conclusion
In conclusion, Spring Gold Market offers traders a wide range of trading instruments through the MetaTrader 4 platform, with 24/7 multilingual support and multiple deposit/withdrawal options for convenience. However, the lack of regulatory oversight, unclear minimum deposit requirements, and transparency issues in company policies highlight potential risks. Traders should proceed with caution and thorough research to navigate these challenges and ensure a safer trading experience.
FAQs
Q: Is Spring Gold Market Limited regulated？
A: No, Spring Gold Market operates without regulation, meaning it lacks oversight from recognized financial regulatory authorities.
Q: What trading instruments are available on Spring Gold Market？
A: Spring Gold Market offers a diverse range of trading instruments, including forex, indices, commodities, and shares.
Q: What account types does Spring Gold Market offer？
A: Spring Gold Market provides two main types of trading accounts: ECN and Standard accounts, catering to different trading preferences and experience levels.
Q: How can I contact Spring Gold Market's customer support？
A: You can primarily reach Spring Gold Market's customer support via email at info@springgold.net or by calling +1786 628 1209.
Q: How long does it take for deposits and withdrawals to be processed by Spring Gold Market？
A: Withdrawal requests received after 21:00 (GMT) are processed on the following day, while those received before 07:00 (AEST) are processed on the same day.
Risk Warning
Trading online carries inherent risks, and there's a possibility of losing all your invested funds. It's crucial to understand these risks before engaging in any trading activities. Please note that the information provided in this review is subject to change as the company's services and policies evolve. Additionally, the date of this review may affect the accuracy of the information provided, so it's advisable to verify any details directly with the company before making any decisions or taking action. Ultimately, the responsibility for using the information in this review lies solely with the reader.
