HK Golden Crown review – 5 things you should know about Hkgoldencrown.com

HK Golden Crown review – 5 things you should know about Hkgoldencrown.com

Beware! HKGoldenCrown is an offshore broker! Your investment may be at risk.

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HK Golden Crown is a forex brokerage registered in Hong Kong. It provides the MetaTrader4 trading platform and a generous leverage. Traders are extended a leverage of up to 1:100. Furthermore, there is a wide range of trading products from which to choose but a spread of 2.6 pips on EUR/USD plus a commission of $30 which is quite unfavorable for traders. The required minimum deposit, however, is quite low at $100.

HK Golden Crown regulation & safety of funds

On the brokers website we read that the broker brand is owned and operated by a Hong Kong-based company with the name HK Golden Crown Trading Ltd. We further read, much to our surprise, that the company is supposedly regulated by the National Futures Association in the US. Here is a screenshot:

Readers are reminded that brokerages registered in Honk Kong have to be licensed by the Securities and Futures Commission (SFC) in order to operate legally in the territory of the country. After needlessly checking the registry of the NFA we can safely conclude that the brokerage is not a NFA-member. Posting such false and misleading information on your website is a red flag in Forex trading and traders should steer clear of HKGoldenCrown.

Putting this aside, the brokerage provides the MetaTrader4 terminal which is the foremost platform in online trading at the moment. Through a demo account we could test-drive the platform.

We could see a spread of 2.6 pips which is significantly high and compares unfavorably to the industry average of a pip and a half. On top of that we read that there is also a $30 commission per lot which amounts to three more pips on the spread which makes the cost of trading excessively high in our view and makes us question whether the brokerage does in fact provide such a spread. The leverage extended to traders is 1:100 which is quite generous but balanced. The required minimum deposit is quite low at $100, usually brokerages require at least $250. Putting this aside, the lack of regulation and the offshore location of the brokerage incline us to suspect that potential client’s funds may be at risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

HK Golden Crown deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via VISA and MasterCard, Bank wire and popular e-wallets Skrill. While going through the brokers terms and conditions we couldn’t find anything especially unsettling besides a minimum withdrawal amount of $100 which is pretty common. However, we can’t be sure whether the brokerage won’t charge any unexpected fees once the initial deposit is made.

This is why we remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or The bitcoin miner where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing achargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!u

Rich Snippet Data
Review Date
Reviewed Broker
HKGoldenCrown
Broker Rating
1.21star1stargraygraygray

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8 Comments

  1. HK Golden Crown is a SCAM operation!!! BEWARE!!!

    The scammers would approach victims on blogs and dating apps and would pretend to say his or her uncle or aunts are the experts, which the scammers are being mentored. The scammers will convince investors (victims) to set-up an account at http://www.hkgoldencrown.com and install MetaTrader4 on the phone or laptop. After, the scammer would instruct victims to wire transfer money into their bank account called Sengal Bank Limited located in Guouzho, China. The scammer will instruct and encourage victims to invest using MetaTrader4 and literally victims will see their fund lost in a split second. Hk Golden Crown will not release the fund and essentially scams the investors money under the pretense that the investors have lost all the money trading bitcoins using MetaTrader4!!!

    Be careful these scammers are fake criminals stealing investors money without any conscience! These Chinese scammers will eventually burn in hell sooner or later when their final day catch up with them.

    FBI or Chinese Agent should investigate by following the money trail and arrest these Chinese group of scums before more innocent people’s money are scammed.

    Truly heartless group of Chinese scammers!!

    SHUT DOWN HK GOLDEN CROWN ASAP!!!

    1. Do you guys have any names ?i might be in the same situation
      I met somebody on an dating app , her name “ Celine” , after few chats she mentioned MT4 and she showed how she made money
      Asking me to do the same and invest for a fast return
      The another person contacted me saying that she will guide me to open a trading account and how to send money to that account
      I’m very skeptical and they are very pushy

      1. Hi Adam,

        I have a few names. I believe they are a scam as well, but I’ll give them a few more days to make things right before I go on a social media offensive to defame them. I deposited money at the end of January during the Coronavirus outbreak and they said that my money was stuck in Wuhan. Well, now Wuhan has ended the lockdown officially since April 8 and I still haven’t seen my money deposited into my MT4 account.

      2. You need to hire a vetted retired Navy Seal to go after these scums for results. Some corrupted Chinese authority are maybe part of the scams, USA overseas will be a challenge to investigate with international laws, etc.,

        Need to hire a full time professionals to go after these scums for results.

    2. Confirmed scammers. Here’s how I got scammed so you don’t get scammed.
      1)Met a girl named Amy (Ding Dang) through the Chinese dating app TanTan
      2)She gained my trust and told me about her side trading business and wanted to see if I’d like to invest or try it out. I said sure, as long as I don’t have to risk any real money. She helps me create a paper trading account on MT4 with HKGoldenCrown. The email address is [email protected] The company website is hkgoldencrown.com.
      3)She introduces me to the exchange’s customer service and analyst on WeChat. The analyst takes me on a few trades and they make me money. I see that this can work so I put up a little bit of money by wiring it, which takes about a week. I try to withdraw some money into my US account and the money actually shows up, so I’m thinking this is legit.
      4)I’m asked to invest more money to make more money so that there’s less risk. I deposit more money and then am told…for months, that my money still hasn’t arrived
      5)The China girl stops talking to me and blocks me on her Wechat when I am more persistent about recovering my money. The customer service rep on WeChat stops replying to my messages altogether. The analyst also stops replying. NOT a coincidence.

      TIPS to trip them up, which I ignored but should have done in the beginning to save heartache and loss of funds:
      1)Ask them when the website was started. If they can’t give you a date that matches up with WHOIS database, RUN
      2)On their website, they list that they are certified with the NFA. Ask them for the NFA ID. I guarantee they don’t have an NFA ID, which is a HUGE red flag. RUN FAST and never come back. If they somehow give you an NFA ID, you should be able to look it up on the NFA website, https://www.nfa.futures.org/

  2. Same like you mate,I already sent a email to Chinese government,hope they will do something

  3. There is a website calle mychargebank.com, stating that they can help you regain your money from scams. Is that another scam?

    Did anyone have succees recovering the scammed money,or any news if this group of Chinese trash get apprehended by the authority? Or, maybe covid-19 via karma will catch up to these scammers, or have caught it for them to pay for their sin by scamming people.

    Chinese authority should execute scammers like in Saudi Arabia, or Iran. That will make scammers think twice and these scums will go get a job instead.

  4. Did you have any luck getting your money back? I doubt chinese authority will take action. Who knows those Chinese authority are so corrupted and some might be part of the scam!!

    You have to hire professional US Navy Seals to track these chinese trash down like Osama Bin Laden!

    All of us should invest in hiring professionals to track these scams down? This is the best approach to track and end these trash for scamming innocent people’s money. They are loosers without conscience worst than roaches that live in sewage.

    These scums thought they can fool people without victims realizing that is it not an investment that you end up losing money 100%, but it is these scums’ setup to scam people worldwide using the internet to reach out to scam people wherever these scums can reach out.

    Also, BEWARE that these scums will change their company, or website names once hk golden crown is discovered by many victims.

    Anyone knows where to hire professionals ike retired Navy Seals that we can vet the agent’s background with the US Government before we hire the Retired Navy Seal to track these scums????

    I am sure we all love to see what these trash look like and who they are. Expose their ugly faces worldwide online!!!

    We should all pool are money to hire a true Navy Seal to investigate full time for results and bring justice for us all wronged by these low life roaches.

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