Gold Fund Trader has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Maxtonmining. We’ve received over 6 complaints against Gold Fund Trader.
Gold Fund Trader’s ambitious approach to providing huge gold trading accounts with substantial profit splits may have attracted interest, but it also exposed serious financial concerns. The firm’s closure after only five months highlights the obstacles that new entrants encounter in the proprietary trading industry. For traders and investors, this incident serves as a caution to carefully evaluate any trading platform, particularly those that claim large returns but lack financial transparency.
If you’ve lost money or have had a bad experience with Gold Fund Trader, you can work with an investigative agency. They can provide you with the help you need:
Key Takeaways
Is Gold Fund Trader Regulated? Do They Have a License?
Gold Fund Trader, a UAE-based proprietary trading firm that specializes in gold trading, has halted operations just five months after its inception due to financial difficulties and liquidity issues. Despite an ambitious business concept, the firm struggled to produce enough money, prompting the resignation of a key investor and eventually forcing the company to close.
Gold Fund Trader, which actively pushed itself on social media, particularly X (previously known as Twitter), intended to provide traders with the opportunity to manage huge trading accounts with generous profit splits while focusing on the gold market. The firm advertised accounts as large as $400,000 with profit percentages of up to 90%, and it claimed to complete payouts within 10 days, which drew traders searching for chances in the extremely volatile gold market.
However, the company’s business model immediately exhibited symptoms of pressure. Despite providing 150 giveaway accounts as part of a promotional campaign, the company made only $600 in sales. The enormous disparity between promotion and revenue raised questions about the firm’s survival. The issue worsened when a key investor, who had provided $250,000, pulled assistance, citing concerns about the company’s financial stability.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Gold Fund Trader might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Gold Fund Trader, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Gold Fund Trader
Gold Fund Trader had 90 active accounts at the time of closure, however none of them were fully financed, and no payouts were outstanding. The firm was unable to give traders with the capital required to perform meaningful trades, limiting their capacity to remain competitive. As cash flow problems worsened, the company’s leadership was obliged to suspend operations completely.
In a statement, the company stated that it had investigated acquisition opportunities but was unsuccessful. Despite their financial challenges, Gold Fund Trader stated that they elected not to participate in unethical behavior in order to continue operational. This decision, however principled, resulted in the firm’s closure.
To attract traders, the firm emphasized speedy payouts and significant profit splits, establishing itself as a competitive participant in the proprietary trading industry. However, the company’s fast growth and fall highlight the difficulty of maintaining liquidity and investor confidence, particularly in a niche sector such as gold trading.
Gold Fund Trader’s short-lived activity acts as a warning to both traders and investors. The firm’s services, including as high leverage and big account sizes, appeared tempting on the surface, but the underlying financial structure was unsustainable. Traders who are interested in comparable services should exercise extreme caution and conduct extensive due investigation before committing to any proprietary trading firm.
The company’s sudden shutdown emphasizes the need of liquidity management and realistic business expectations in the trading industry. Even well-promoted companies might struggle financially if they lack a consistent revenue stream and strong investor backing.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
Victims can get help from a specialized investigation agency that can look into the scam for them. Contact our recommended agency here.
Gold Fund Trader Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Gold Fund Trader Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Gold Fund Trader might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Gold Fund Trader reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Gold Fund Trader, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Gold Fund Trader enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Gold Fund Trader reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Gold Fund Trader.
You should always look out for consumer complaints. In the case of Gold Fund Trader, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Gold Fund Trader? You can share your complaint in the comment section or submit an anonymous tip.
Is Gold Fund Trader Legit Or a Scam?
Gold Fund Trader is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Gold Fund Trader can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Gold Fund Trader?
All the evidence suggests that Gold Fund Trader might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
If you’ve experience in dealing with this company or a similar one, we recommend working with a trusted investigative agency. That way, you can get professional help and resources.
Frequently Asked Questions
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Gold Fund Trader scammed me. What do I do now?
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
