Gold Elephant Markets Limited

Gold Elephant Markets Limited (trading as Golden Elephant) is a retail forex and CFD broker registered in Seychelles. According to public records, the broker holds a Securities Dealer licence from the Seychelles Financial Services Authority (FSA). The firm's official website identifies its head office as Level 7 Office 12, ICONEBENE Lot B441, Rue de L’Institut Ebene, with registration details listing a Mauritius address. The company was reportedly founded in 2006, though independent verification of this date is limited.

The broker is regulated by the Seychelles FSA under licence number GB 19024896 (company number 170969). The FSA Seychelles is a lower-tier regulator with less stringent requirements compared to major jurisdictions like the FCA or ASIC. Traders should be aware that Seychelles regulation offers limited investor protection, such as no compensation scheme or mandatory negative balance protection. The broker's risk score from FXCanary stands at 40 out of 100, indicating a guarded level of concern.

Golden Elephant provides access to a range of CFD instruments across forex, indices, commodities, metals, and share CFDs. The broker claims to aggregate spreads from 22+ tier-1 and tier-2 liquidity providers, resulting in variable spreads starting from 0.0 pips on its GO Plus+ account. Trading platforms include the proprietary ST5 platform, as well as mobile and web-based versions. The broker also offers MetaTrader 4 (MT4) for gold and silver trading promotions.

The broker offers two primary account types: the Standard Account and the GO Plus+ Account. The Standard Account is commission-free with spreads from 1.0 pips, while the GO Plus+ Account offers raw spreads with a commission of USD 2.5 per side. Both accounts support leverage up to 500:1. Available base currencies include AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD. The minimum deposit requirement is not explicitly stated on the website, but industry sources suggest a low entry point.

Funding options include credit/debit cards (Visa, Mastercard) and e-wallets such as Skrill. The broker claims instant processing and zero internal fees for most methods. Withdrawals are processed through the client portal, and the broker does not charge internal fees, though third-party fees may apply. The availability of bank transfers is not clearly stated.

Golden Elephant markets itself to both novice and experienced traders, offering educational resources and a demo account. However, given its offshore regulation and high leverage, the broker may appeal more to traders comfortable with higher risk. It is not suitable for traders seeking strict regulatory oversight or those in jurisdictions where local regulators prohibit dealing with unregulated offshore firms.

The broker prominently displays awards from Global Forex Awards (2022) and Investment Trends, including Best Forex Fintech Broker Global and No.1 for Customer Service. These awards are self-reported and have not been independently verified by FXCanary.