GoldStone

What we found

GoldStone claims to be owned and operated by GOLDSTONE Group, which includes: 1) GSAU Global Limited, registered in the United Kingdom with registration number: 14014403; 2) Au Gold Stone Pty Ltd, authorized and regulated by the Australian Securities & Investments Commission (ASIC) under AFS number: 001276595; 3) Au Gold Stone Pty Ltd, licensed by the US National Futures Association (NFA) with NFA ID: 0549420. First, we indeed find a match result to GSAU Global Limited in the Companies House of the United Kingdom (CH), the United Kingdom's registrar of companies. But CH has no legit rights to regulate any forex activities. Having registration does not mean having any regulation. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). But we did not find any match results to GoldStone or GSAU Global Limited in FCA. Second, we also find a match result to the ID '0549420' in NFA. However, Au Gold Stone Pty Ltd is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Au Gold Stone Pty Ltd doesn't satisfy these conditions. Third, Au Gold Stone Pty Ltd also can be found in ASIC. But with no domain of the licensed company that can be checked in ASIC, we can not tell whether Au Gold Stone Pty Ltd and GoldStone have any connection. The truth is, GoldStone is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Assessment source: FastBull BrokersView.