Question 1

Is First Gold regulated and safe for investors?

FXScope Intelligence Lab · Accepted Answer

First Gold operates as a member of the Chinese Gold & Silver Exchange (CGSE) with membership number 114 (Type AA License) and is a CGSE accredited gold refinery. However, it's important to note that First Gold is not regulated by traditional financial authorities like FCA, CySEC, or other major financial regulators. While the company has been operating since 1991 and claims to serve over 85,000 clients worldwide, the lack of conventional financial regulation may pose additional risks for investor fund protection.

Question 2

What trading services does First Gold offer?

FXScope Intelligence Lab · Accepted Answer

First Gold specializes in precious metals trading, offering gold, silver, platinum, and palladium investment services. The company provides 9999 1 Kilo Gold bars and 5 Taels Gold bars, along with spot gold and silver trading and Renminbi Kilobar Gold trading. Clients can benefit from wholesale-level pricing and have access to professional vaults in Zurich, London, Toronto, Singapore, and New York for secure storage. The company positions itself as the world's largest online service for gold investment.

Question 3

What are the funding and withdrawal options at First Gold?

FXScope Intelligence Lab · Accepted Answer

First Gold accepts deposits exclusively through wire transfer from the client's bank account to the company's bank account. While this method provides a clear paper trail, it may be less convenient than electronic payment methods. According to customer reviews, withdrawal processing times have been inconsistent, with some clients reporting delays of up to a week. Profit from bar sales is credited to accounts on the next business day, but actual fund transfers may take longer.

Question 4

What are the main concerns investors have about First Gold?

FXScope Intelligence Lab · Accepted Answer

Based on customer reviews, several concerns have been raised about First Gold, including: platform technical issues with MT4 lagging and slow order execution; withdrawal processing delays that can take up to a week; a complicated trading interface that may be difficult for beginners; and the lack of traditional financial regulation. While some clients report positive experiences with execution quality and profitable trades, the recurring themes of technical problems and withdrawal delays are significant considerations for potential investors.

Question 5

Is First Gold beginner-friendly for new traders?

FXScope Intelligence Lab · Accepted Answer

First Gold presents mixed signals for beginner-friendliness. The company offers 24/7 customer support and provides market analysis on their website, which can be helpful for new traders. However, customer reviews indicate that their trading platform interface is complicated and may be challenging for beginners to understand. Additionally, the lack of disclosed minimum account size, leverage details, and spread information makes it difficult for new investors to assess the true costs and requirements. The technical issues reported with platform lag and slow execution also raise concerns about the user experience for novice traders.

Question 6

How is First Gold's customer support and platform technology?

FXScope Intelligence Lab · Accepted Answer

First Gold offers 24/7 customer support via email (enquiry@firstbullion.com) and international telephone numbers (+852 2868 9919, +852 5760 0848). However, customer feedback is mixed regarding support responsiveness, with some users reporting difficulties reaching support during issues. Regarding platform technology, First Gold offers MT4, but customer reviews consistently mention technical problems including platform lagging, slow order execution, and a complicated user interface. These platform issues appear to be a significant concern among users, potentially impacting the overall trading experience.

First Gold

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