Score
GWGOLD
Hong Kong|5-10 years| https://gwgold.hk
Website
Rating Index
Contact
Licenses
Licensed Institution：鴻豐金業集團(香港)有限公司
License No.：050
Single Core
1G
40G
1M*ADSL
- The claimed China Hong Kong CGSE regulation (license number: 050) is verified as a clone firm. Please pay attention to the risk!
Basic information
Hong Kong
5-10 years Suspicious Regulatory License Suspicious Scope of Business Clone Firm Hong Kong High potential riskUsers who viewed GWGOLD also viewed..
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Website
gwgold.hk
Server Location
United States
Website Domain Name
gwgold.hk
Website
WHOIS.HKIRC.HK
Company
-
Server IP
104.27.163.180
Company Summary
| GWGOLD Review Summary | |
| Founded | 2013 |
| Registered Country/Region | China Hong Kong |
| Regulation | Clone |
| Market Instruments | Spot gold & silver |
| Demo Account | ❌ |
| Margin | Not less than 2% |
| Spread | $0.50/oz (Spot gold) |
| $0.04/oz (Spot silver) | |
| Trading Platform | MT4 and goodwillgold4 |
| Minimum Deposit | / |
| Customer Support | Live chat (24 hours) |
| Tel: (852) 3978 8188 (Hong Kong); 4001 206 668 (Domestic toll-free hotline) | |
| Address: Flat 29, 1/F, jade plaza, canton Road, Kowloon | |
Established in 2013 and headquartered in Hong Kong, GWGOLD is a financial company that specializes inspot gold and silver trading.The company offers trading on the popular MT4 platform and its own goodwillgold4 platform. However, it operates under a clone license.
Pros and Cons
| Pros | Cons |
| MT4 platform | Clone license |
| Clear trading rules | No demo accounts |
Is GWGOLD Legit?
No, GWGOLD is not a regulated entity. The firm purports to be regulated by the China Hong Kong CGSE with a license number 050, but this claim has been verified as false and is associated with a clone firm.
| Regulated Country | Regulated Authority | Current status | Regulated Entity | License Type | License Number |
 | The Chinese Gold and Silver Exchange Society (CGSE) | Clone | 鴻豐金業集團(香港)有限公司 | Type A1 License | 050 |
What Can I Trade on GWGOLD?
GWGOLD primarily offers trading in Spot gold and Spot silver.
| Tradable Instruments | Supported |
| Spot gold & silver | ✔ |
| Forex | ❌ |
| Commodities | ❌ |
| Indices | ❌ |
| Stocks | ❌ |
| Cryptocurrrencies | ❌ |
Trading Rules
| Spot gold | Spot silver | |
| Contract unit (per lot) | 100 ounces | 5000 ounces |
| Transaction spread | $0.50/oz | $0.04/oz |
| Minnumber of transactions per transaction | 0.05 contracts | |
| Maxnumber of transactions per transaction | 5 contracts | |
| Margin | Not less than 2% | |
| Daily interest | Not applicable | |
| Daily warehouse rent | Buy: -1.75%; Sell: -1.25% (annual interest rate here) | |
| Pending order distance | At least 250 points away from the market price | |
Trading Hour/Settlement Time
| Summer | Winter | |
| Trading hours | From Monday 07:01 am to Saturday 04:45 am | From Monday 07:01 am to Saturday 05:45 am |
| Settlement time | Daily from 5 a.m. to 6 a.m. Hong Kong time | Daily from 6 a.m. to 7 a.m. Hong Kong time |
Note: US winter time is from 2 a.m. on the first Sunday in November to 2 a.m. on the second Sunday in March; U.S. Daylight Saving Time runs from 2 a.m. on the second Sunday in March to 2 a.m. on the first Sunday in November. The transaction time will be changed according to international holidays. Any changes will be announced on the company's website. If the position is held past Friday, Saturday, or Sunday, three days of interest will be charged.
Trading Platform
GWGOLD offers MT4 and goodwillgold4 as trading platfroms.
For iPhone users, you can either scan the QR code or click to download the iPhone version.
For Android users, you can scan the QR code to download the Android version.
If there is no Google Store on your mobile phone, you can directly download the installation files.
Additionally, there is an option to download the desktop trading platform of goodwillgold4.
| Trading Platform | Supported | Available Devices | Suitable for |
| goodwillgold4 | ✔ | Desktop | / |
| MT4 | ✔ | iPhone, Android, Desktop | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
Deposit Process
- Log in to the Hongfeng Bullion website.
- Select domestic card deposit from the deposit information on the website.
- UnionPay deposit fees will be waived if you use domestic card deposit methods.
- Deposit using a domestic card and “no need” to submit screenshots of documents.
Withdrawal Process
- Submit withdrawal application online:You need to use the online account and password provided by Goodwill to log in to the Goodwill website. The company claims that the funds will arrive within 1 hour.
- In person: Youcan visit the company to submit a withdrawal application during Goodwill office hours.
- Mail/Email/QQ: You can submit the signed and filled-out application form to Goodwill by mail/email/QQ.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Clone Firm Hong Kong
- High potential risk
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