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RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

Suspected Fraud

RICH GOLD GROUP PTY LIMITED

1.15
1.15
Industry Tier:
E
🇨🇳China
Within 1 year
Contact
RICH GOLD GROUP PTY LIMITED

Suspected Fraud

RICH GOLD GROUP PTY LIMITED
🇨🇳China
Within 1 year
Contact
1.15
1.15
Industry Tier:
E

Basic Information

Country
China
Industry
CFD
Categories
Services
Precious metals, foreign exchange, energy, indices, stocks, digital currency
Supported Languages
English, Thai, Vietnamese, Simplified Chinese
Domain Registration
2024-05-10
Status
Suspected Fraud
Entity
Download
Risk Scan
Announcement
Documents

User Reviews

1.15

Rated by 0 people

All Rating

No Comment YetNo Comment Yet

Profile & Analysis

Powered by AI
Some content is AI-generated and for reference only; it is not investment advice.
Profile

RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) is a contract for difference (CFD) broker registered in Australia, established on March 29, 2024. The company primarily offers investment services for trading markets such as precious metals, forex, energy, indices, stocks, and digital currencies. However, it does not provide services to countries and regions where it might violate local laws or regulations, including the United States, Canada, and Hong Kong.

Company Registration Information and Regulatory Status

RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) claims on its website to have been established in 2010 as one of the world's largest CFD brokers. However, information publicly available on its website indicates that the company was registered in Australia on March 29, 2024, with company registration number 676 210 441. The domain name was registered on May 10 of the same year. Additionally, the company was authorized on April 12, 2024, by WHOLESALE INVESTOR SERVICES PTY LTD as an authorized representative with an AFS AR license number 001308896. Its authorized scope includes:

  1. Providing financial product advice
  2. Dealing in financial products/issuing, applying, acquiring, varying, or disposing of financial products
  3. Dealing in financial products/applying, acquiring, varying, or disposing financial products on behalf of others

Furthermore, the "Documents" page on the RICH GOLD GROUP PTY LIMITED website contains only icons for legal documents like Anti-Laundering, Business Terms, Privacy Policies, and Risk Warning, without actual document content.

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

Trading Instruments

RICH GOLD GROUP PTY LIMITED claims to offer a variety of trading in financial derivatives, including precious metals, forex, energy, indices, stocks, and digital currencies.

  • Precious Metals: Typically referring to gold, silver, etc., favored by investors for value preservation and hedging functions.
  • Forex: Market trading through currency exchange rate changes, characterized by high liquidity and a large market scale.
  • Energy: Includes commodities like crude oil and natural gas, fundamental resources for the global economy, with prices influenced by geopolitical and supply-demand factors.
  • Indices: Such as S&P 500, Dow Jones Index, reflecting the overall performance of specific markets or economies.
  • Stocks: Shares issued by companies, allowing investors to earn returns from company growth.
  • Digital Currencies: Such as Bitcoin, Ethereum, which are virtual assets based on blockchain technology, drawing investor attention due to high volatility and innovation.

Account Creation Process

Upon testing, clicking "Create a real account" and "Open Live Account" on the RICH GOLD GROUP PTY LIMITED website only redirects to the homepage, with no page available for account registration, preventing account setup.

RICH GOLD GROUP PTY LIMITED

Account Types

RICH GOLD GROUP PTY LIMITED offers three different types of trading accounts: CENT account, STP account, ECN account.

CENT Account:

  • Spread: Spreads as low as 2
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to STP download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Not available

STP Account:

  • Spread: Spreads as low as 2
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to STP download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Supported

ECN Account:

  • Spread: Spreads as low as 0
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to ECN download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Supported
RICH GOLD GROUP PTY LIMITED

Trading Platform and Deposits/Withdrawals

RICH GOLD GROUP PTY LIMITED claims to provide the MT4 trading platform for its users, available on both desktop and mobile. However, clicking the download links on the broker's website only redirects to the homepage, with no access to the platform download page. Additionally, the broker does not clearly disclose the supported deposit/withdrawal methods, fees, or minimum deposit/withdrawal amounts on its website.

RICH GOLD GROUP PTY LIMITED

Risk Warning

The AFS AR license issued by the Australian Securities and Investments Commission (ASIC) provides a regulatory framework for financial services. However, there are some potential risks and pitfalls. Key concerns include:

  • Limited regulatory oversight: AFS AR license holders operate as authorized representatives, offering financial services on behalf of the licensed entity (AFS Licensee). While the licensee bears regulatory responsibility, it is challenging for regulatory bodies to monitor the actions of each representative closely, especially if the licensee fails to enforce strict supervision.
  • Inadequate risk management: Some representatives may lack sufficient risk management capacity or experience, particularly with complex financial products or high-risk investments. If the licensee fails to oversee and manage the risks effectively, investors may suffer losses.
  • Insufficient information disclosure: Some representatives may provide inaccurate or insufficient information, leaving investors unaware of all associated risks when making decisions. This information asymmetry could heighten decision-making risks for investors.
  • Conflict of interest: In some cases, representatives may have conflicts of interest, such as recommending unsuitable financial products to investors to earn higher commissions or incentives. If these conflicts are not properly disclosed and managed, investor interests may be harmed.
  • Non-compliance and fraud risk: Despite regulatory requirements on licensees by ASIC, individual representatives may engage in non-compliant or fraudulent activities, such as unauthorized investment operations or exaggerated investment returns. Given the multitude of representatives, ASIC and licensees may find it hard to provide real-time monitoring for all.
  • Insufficient investor protection: When a representative engages in non-compliant behavior, investors may struggle to secure effective compensation or protection. While the licensee is responsible for the representative's actions, investors may face challenges in claiming rights or dealing with complex procedures.

Conclusion

Traderknows alerts investors that although RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) possesses an AFS AR license from the Australian Securities and Investments Commission (ASIC), this license carries some potential risks and weaknesses. Additionally, this broker's recent establishment, along with suspicious content on its website, prompt caution. Investors are advised to opt for brokers with transparent information, robust regulation, and a reputable track record to avoid unnecessary financial losses.

FAQ About RICH GOLD GROUP PTY LIMITED

01

What is RICH GOLD GROUP PTY LIMITED?

RICH GOLD GROUP PTY LIMITED is a CFD Broker.

02

When was RICH GOLD GROUP PTY LIMITED founded?

RICH GOLD GROUP PTY LIMITED was founded in 2024.

03

Where is RICH GOLD GROUP PTY LIMITED located?

According to its official website, RICH GOLD GROUP PTY LIMITED has not yet disclosed its office location.

04

What is RICH GOLD GROUP PTY LIMITED's official website?

RICH GOLD GROUP PTY LIMITED's official website is https://www.richgoldfx.com

Industry Tier

E
E
D
C
B
A
S
SS

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Entity
Download
Risk Scan
Announcement
Documents

User Reviews

1.15

Rated by 0 people

All Rating

No Comment YetNo Comment Yet

Basic Information

Country
China
Industry
CFD
Categories
Services
Precious metals, foreign exchange, energy, indices, stocks, digital currency
Supported Languages
English, Thai, Vietnamese, Simplified Chinese
Domain Registration
2024-05-10
Status
Suspected Fraud

Profile & Analysis

Powered by AI
Some content is AI-generated and for reference only; it is not investment advice.
Profile

RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) is a contract for difference (CFD) broker registered in Australia, established on March 29, 2024. The company primarily offers investment services for trading markets such as precious metals, forex, energy, indices, stocks, and digital currencies. However, it does not provide services to countries and regions where it might violate local laws or regulations, including the United States, Canada, and Hong Kong.

Company Registration Information and Regulatory Status

RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) claims on its website to have been established in 2010 as one of the world's largest CFD brokers. However, information publicly available on its website indicates that the company was registered in Australia on March 29, 2024, with company registration number 676 210 441. The domain name was registered on May 10 of the same year. Additionally, the company was authorized on April 12, 2024, by WHOLESALE INVESTOR SERVICES PTY LTD as an authorized representative with an AFS AR license number 001308896. Its authorized scope includes:

  1. Providing financial product advice
  2. Dealing in financial products/issuing, applying, acquiring, varying, or disposing of financial products
  3. Dealing in financial products/applying, acquiring, varying, or disposing financial products on behalf of others

Furthermore, the "Documents" page on the RICH GOLD GROUP PTY LIMITED website contains only icons for legal documents like Anti-Laundering, Business Terms, Privacy Policies, and Risk Warning, without actual document content.

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

RICH GOLD GROUP PTY LIMITED

Trading Instruments

RICH GOLD GROUP PTY LIMITED claims to offer a variety of trading in financial derivatives, including precious metals, forex, energy, indices, stocks, and digital currencies.

  • Precious Metals: Typically referring to gold, silver, etc., favored by investors for value preservation and hedging functions.
  • Forex: Market trading through currency exchange rate changes, characterized by high liquidity and a large market scale.
  • Energy: Includes commodities like crude oil and natural gas, fundamental resources for the global economy, with prices influenced by geopolitical and supply-demand factors.
  • Indices: Such as S&P 500, Dow Jones Index, reflecting the overall performance of specific markets or economies.
  • Stocks: Shares issued by companies, allowing investors to earn returns from company growth.
  • Digital Currencies: Such as Bitcoin, Ethereum, which are virtual assets based on blockchain technology, drawing investor attention due to high volatility and innovation.

Account Creation Process

Upon testing, clicking "Create a real account" and "Open Live Account" on the RICH GOLD GROUP PTY LIMITED website only redirects to the homepage, with no page available for account registration, preventing account setup.

RICH GOLD GROUP PTY LIMITED

Account Types

RICH GOLD GROUP PTY LIMITED offers three different types of trading accounts: CENT account, STP account, ECN account.

CENT Account:

  • Spread: Spreads as low as 2
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to STP download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Not available

STP Account:

  • Spread: Spreads as low as 2
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to STP download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Supported

ECN Account:

  • Spread: Spreads as low as 0
  • Minimum trade size: 0.01 lots
  • Order execution type: Market order
  • Maximum number of orders and order quantities: No limit for maximum orders, biggest lot size, refer to ECN download sheet
  • Account currency type: USD
  • Deposit methods: Online payment, USDT
  • Trading products: Forex, metals, energy
  • Mobile trading: Supported
  • One-click trading: Supported
  • Allow hedging: Supported
  • Allow EA trading: Supported
  • 24-hour trading: Supported
  • Real account: Supported
  • Demo account: Supported
  • 1V1 client manager: Supported
RICH GOLD GROUP PTY LIMITED

Trading Platform and Deposits/Withdrawals

RICH GOLD GROUP PTY LIMITED claims to provide the MT4 trading platform for its users, available on both desktop and mobile. However, clicking the download links on the broker's website only redirects to the homepage, with no access to the platform download page. Additionally, the broker does not clearly disclose the supported deposit/withdrawal methods, fees, or minimum deposit/withdrawal amounts on its website.

RICH GOLD GROUP PTY LIMITED

Risk Warning

The AFS AR license issued by the Australian Securities and Investments Commission (ASIC) provides a regulatory framework for financial services. However, there are some potential risks and pitfalls. Key concerns include:

  • Limited regulatory oversight: AFS AR license holders operate as authorized representatives, offering financial services on behalf of the licensed entity (AFS Licensee). While the licensee bears regulatory responsibility, it is challenging for regulatory bodies to monitor the actions of each representative closely, especially if the licensee fails to enforce strict supervision.
  • Inadequate risk management: Some representatives may lack sufficient risk management capacity or experience, particularly with complex financial products or high-risk investments. If the licensee fails to oversee and manage the risks effectively, investors may suffer losses.
  • Insufficient information disclosure: Some representatives may provide inaccurate or insufficient information, leaving investors unaware of all associated risks when making decisions. This information asymmetry could heighten decision-making risks for investors.
  • Conflict of interest: In some cases, representatives may have conflicts of interest, such as recommending unsuitable financial products to investors to earn higher commissions or incentives. If these conflicts are not properly disclosed and managed, investor interests may be harmed.
  • Non-compliance and fraud risk: Despite regulatory requirements on licensees by ASIC, individual representatives may engage in non-compliant or fraudulent activities, such as unauthorized investment operations or exaggerated investment returns. Given the multitude of representatives, ASIC and licensees may find it hard to provide real-time monitoring for all.
  • Insufficient investor protection: When a representative engages in non-compliant behavior, investors may struggle to secure effective compensation or protection. While the licensee is responsible for the representative's actions, investors may face challenges in claiming rights or dealing with complex procedures.

Conclusion

Traderknows alerts investors that although RICH GOLD GROUP PTY LIMITED (www.richgoldfx.com) possesses an AFS AR license from the Australian Securities and Investments Commission (ASIC), this license carries some potential risks and weaknesses. Additionally, this broker's recent establishment, along with suspicious content on its website, prompt caution. Investors are advised to opt for brokers with transparent information, robust regulation, and a reputable track record to avoid unnecessary financial losses.

FAQ About RICH GOLD GROUP PTY LIMITED

01

What is RICH GOLD GROUP PTY LIMITED?

RICH GOLD GROUP PTY LIMITED is a CFD Broker.

02

When was RICH GOLD GROUP PTY LIMITED founded?

RICH GOLD GROUP PTY LIMITED was founded in 2024.

03

Where is RICH GOLD GROUP PTY LIMITED located?

According to its official website, RICH GOLD GROUP PTY LIMITED has not yet disclosed its office location.

04

What is RICH GOLD GROUP PTY LIMITED's official website?

RICH GOLD GROUP PTY LIMITED's official website is https://www.richgoldfx.com

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Risk Warning
TraderKnows provides a comprehensive database of financial companies, with information sourced from public channels or user submissions, for reference only. We do not verify the compliance of individual companies, and the information provided is not investment advice. Users are encouraged to conduct their own due diligence and make informed decisions. If you suspect any company of illegal activity, please report it to compliance@traderknows.com, and we will review and take appropriate action as necessary.
Risk Warning
TraderKnows provides a comprehensive database of financial companies, with information sourced from public channels or user submissions, for reference only. We do not verify the compliance of individual companies, and the information provided is not investment advice. Users are encouraged to conduct their own due diligence and make informed decisions. If you suspect any company of illegal activity, please report it to compliance@traderknows.com, and we will review and take appropriate action as necessary.

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