First Gold

First Gold, operating as First Asia Merchants Bullion Limited, is a Hong Kong-based precious metals broker that has been in operation since 2017 (although its predecessor claims a longer history). The company focuses on spot gold and silver trading, as well as other gold-related products such as Renminbi Kilobar Gold and 5 Taels gold bars. It is a member of the Hong Kong Gold Exchange (HKGX) holding a Type AA license, which is the highest membership tier.

First Gold is regulated by the Hong Kong Gold Exchange (HKGX), a self-regulatory organization for bullion trading in Hong Kong. The broker holds Membership No. 114 and is classified as a Type AA licensee, which permits it to engage in precious metals trading and to mint good delivery bars. Additionally, it holds a Money Lender’s Licence in Hong Kong, but it is not regulated by the Securities and Futures Commission (SFC) or any other major financial regulator. Traders should note that HKGX regulation is specific to precious metals and may not offer the same protections as mainstream forex or securities regulators.

The broker offers leveraged trading on spot gold and spot silver, with contract sizes of 100 ounces and 2,500 ounces respectively. It also provides trading in CNH gold (offshore renminbi-denominated gold) with a contract size of 1,000 grams. Initial margin requirements are set at 1% for gold and silver (100:1 leverage) and a fixed amount of 10,000 CNY for CNH gold. The broker claims fixed spreads of 5 pips on spot gold. All trading is executed on the MetaTrader 5 (MT5) platform, which is widely used for forex and CFD trading.

First Gold exclusively offers the MT5 platform, which provides advanced charting tools, automated trading capabilities via Expert Advisors, and one-click execution. The platform is available for desktop, web, and mobile devices. The broker also provides a web-based trading portal for quick access. According to its website, it uses an encrypted trading system to ensure security of client data and transactions.

The broker does not explicitly list different account tiers on its website, but it offers commission-free trading with fixed spreads. Margin requirements are as described: 1% for spot gold and silver, and 10,000 CNY for CNH gold. Overnight interest and fees may apply, as mentioned in the trading guidelines. The stop-out level is set at 30% for all products. Funding methods are not detailed on the reviewed pages, but account opening requires submission of identity documents and bank details.

First Gold is aimed at traders interested in precious metals, particularly gold and silver, with a focus on the Asian market. The availability of renminbi-denominated products suggests it targets Chinese-speaking investors. The high leverage (up to 100:1) may appeal to experienced traders seeking short-term opportunities, but it also carries significant risk. The broker does not offer forex currency pairs, equities, or CFDs on indices, limiting its product range to precious metals only.

The broker provides customer service via phone and email, with separate hotlines for trading and general inquiries. Its website includes FAQ sections, trading guidelines, and product explanations. However, educational resources are minimal, with no dedicated learning center or webinars. The broker has a presence on Facebook, Instagram, LinkedIn, and YouTube, but the extent of engagement is not clear. Support is available in English and Chinese.