Pros & cons of Goldwell Capital

Goldwell Capital Fact sheet

When selecting a Forex broker, you should look for a broker that is regulated by a reputable financial regulatory authority. Regulations help to ensure that brokers follow certain standards and guidelines, such as segregating client accounts and maintaining adequate capital levels. 

Goldwell Capital is supervised by the Securities and Exchange Commission of Cambodia (SECC), where the broker has obtained the “Derivatives Broker” license from the SECC. The license enables Goldwell to offer all types of derivative products in global markets, and the selections of products offered by the broker include Forex, precious metals, and indices. 

It should be noted that the SECC is not a strict regulator when it comes to licensing brokers. The financial regulator was founded in 2007 under the issuance and trading terms of a non-government securities organization. 

This broker only offers one standard live account type. In addition, a demo account is also available. It should be noted that traders do not have access to using Islamic, aka swap-free, accounts. 

The Live account enables traders to use up to 200:1 leverage. Spreads on EUR/USD start from 1.8 pips, and the offered trading platform is MetaTrader 4. The minimum initial deposit required to open this account is 200 USD. 

Pros & cons of Goldwell Capital account types

Comparing Goldwell Capital fees with other brokers

Trading fees with this broker are high, but let’s compare its fees with industry leaders to better understand the difference. 

Goldwell Capital fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Goldwell Capital fees compared to CM Trading fees

Goldwell Capital fees compared to plus500 fees

Goldwell Capital fees compared to XM fees

Goldwell Capital fees compared to AvaTrade fees

Goldwell Capital fees compared to Capital.com fees

Goldwell Capital offers the popular MetaTrader 4 (MT4) platform for desktop and mobile trading. In addition, a web trading terminal is also available.

MetaTrader 4 is a well-established platform that was released back in 2005 and quickly became the most popular FX trading platform in the world. The platform may look old, but it is very reliable. For this very reason, MT4 remains the most popular currency trading software even today. The software supports automated trading through the use of trading robots called Expert Advisors (EAs). Thanks to the fact that MT4 is super popular and has been around for so many years means that there is a good selection of free and paid EAs to choose from. EAs help traders to find not only trading algorithms, but custom-built indicators and backtesting tools as well. 

Without a proper education in Forex trading, traders may find it difficult to understand the market, develop effective strategies, or manage risks. This can lead to poor trading decisions and ultimately blown-up accounts. 

Educational materials and tools for market research are limited with Goldwell Capital. Traders have access to using an economic calendar and there is daily market analysis under the “News & Articles'' section. However, webinars, seminars, trading glossaries, and video guides are missing. 

Good customer support is crucial for every company as it helps develop better relationships with existing customers, attract new ones, and efficiently solve issues. Goldwell Capital’s customer support is accessible using live chat, over the phone, and via email. Customer service is available 24 hours a day, 5 days a week, during work days. 

The customer support experience we had with this broker was terrible. Instead of answering our questions, the agent copied and pasted the same text over and over without giving any real answers. Overall, the customer service is disappointing with this broker. 

To sum everything up, Goldwell Capital is a regulated broker and therefore can probably be trusted. It should be mentioned that the regulator is not very strict though, so trade with caution. The available leverage goes up to 200:1, and the minimum deposit required to open a live trading account is 200 US Dollars. Traders have access to trading Forex, indices, and metals using the ever-popular MetaTrader 4 platform. Spreads on EUR/USD start from 1.8 pips, which is high compared to what competitors are offering. Funding options are limited, the educational materials offered are not impressive, and customer support needs serious upgrades.