MetaGold Review — Truth About the Broker

Haven’t you realized yet that attractive trading conditions with tight spreads and low commissions, ultra-fast order execution, and round-the-clock professional support are merely bait for traders, skillfully used by this, to put it mildly, semi-legal broker? Then you should carefully read our fxmetagold.com review. In it, we explain how this company operates and why those who intend to trade on this platform should be extremely cautious. Want to know more? Read on.

Quick Overview

Domain: https://fxmetagold.com/

Company Name: METAGOLD LLC (Georgia), METAGOLD LTD (Mwali, Comoros Union)

Year Founded: 2022

Jurisdiction: Georgia; Mwali (Moheli), Comoros Union

Legal Status: Licensed by MISA No. BFX2025136

Minimum Deposit: 100 USD

Leverage: 1:400

Available Assets: Forex, CFDs on cryptocurrencies, commodities, stocks, indices

Trading Platforms: MetaTrader 5, MetaGold App for Android

Account Types: Standard, Elite, ECN, Crypto

Deposit/Withdrawal Methods: Perfect Money, Crypto

How to Register on the Website

To see all the features that MetaGold offers to traders, we first opened an account with the broker. This caused no difficulties: filling out and submitting the registration form took less than a minute. The form requires the following fields to be completed:

• First and last name.
• Date of birth.
• Gender.
• Email address.
• Phone number.
• Country and city of residence.
• Password for authorization (entered twice).

In addition, the user is required to read and accept the provisions of a single document — Terms & Conditions. After submitting the form, one can either proceed with personal data verification or postpone this step until submitting the first withdrawal request (full KYC verification is not required at an earlier stage).

It should be noted that this approach is not standard for licensed companies. Most regulators require, at a minimum, consent to the Privacy Policy, and in most cases clients are also required to accept the Risk Disclosure, KYC, and AML Policies. It is possible that MISA (Mwali International Services Authority), whose license the platform refers to, does not impose such requirements, or that the company simply ignores them.

Interestingly, the MetaGold client dashboard compares favorably with what most brokers offer today, even those holding offshore licenses. It implements absolutely all the functions described on the official website. Moreover, traders can use advanced security tools such as Google Authenticator, Anti-Phishing Code, and device authorization control.

The only thing we frankly did not like was the automatic launch of the online chat on any page of the website that remains open for a certain period of time. The chat window takes up the entire page space, and eventually this not only interferes with browsing but becomes genuinely annoying.

MetaGold Trading Instruments and Platforms

Let us say right away: the broker does not offer the most extensive list of tradable assets. In total, it includes around 400 instruments, among them:

• 50+ currency pairs.
• 117 CFDs on stocks from various markets (US, European, and Asian). What criteria the broker used to select them is not entirely clear to us, as we did not find some very interesting and, most importantly, profitable tickers on the list.
• 13 CFDs on stock indices.
• CFDs on precious metals (paired with USD and GBP), as well as copper, oil (Brent and WTI), and natural gas.
• CFDs on cryptocurrencies, including Bitcoin and 131 altcoins.

Overall, MetaGold’s offering is sufficient for the majority of traders. However, for example, those who prefer conservative trading would likely want to see contracts on US Treasuries, corporate bonds, and debt securities issued in other countries. Many market participants also show strong interest in CFDs on exchange-traded funds (ETFs), yet, as we can see, the broker ignores these demands.

Even within digital asset CFDs, many crypto trading enthusiasts may be disappointed. First, the company offers only USD pairs, whereas many traders prefer, for instance, altcoin/BTC (Bitcoin) or altcoin/ETH (Ethereum) pairs. Second, the list looks rather static, with no new tokens being added that could potentially multiply a deposit dozens or even hundreds of times. Of course, this significantly reduces traders’ risks, but it also limits not only the possibility of large profits, but even basic crypto asset diversification.

At least MetaGold has no issues with trading software. Official registration allowed the company to acquire one of the best and most widely known terminals in the industry — MetaTrader 5. This platform needs no further introduction, and its advantages and disadvantages are familiar to almost everyone, so we see no reason to dwell on it.

In addition to MT5, the broker offers a mobile application for Android. We took a look at this product and could not understand why developer time, effort, and company funds were spent on its creation. Based on what we saw, the terminal does not implement any standout features that would clearly distinguish it from MetaQuotes’ mobile platforms. Moreover, this app is not uploaded to the Google Play and is distributed only by downloading an APK file, which is questionable from a security standpoint.

Account Types Offered

MetaGold’s trading conditions deserve special attention. When publishing them, the broker used a rather smart approach by placing tables on several pages with transaction parameters for different trading assets, which almost fully reflect the contract specifications. These include:

• Trading hours.
• Long/Short swap rates.
• Maximum leverage.
• Spreads and commissions.

All of this looks quite good at first glance; however, we would like to advise the broker to clearly indicate units of measurement in the table columns. For example, swap values are easy to understand (they are shown in points, as explained in the column header), but spreads and commissions raise questions.

Only after carefully reviewing all the information on the website did we conclude that these values are quoted in US dollars per standard lot. While commissions became clear fairly quickly, spreads immediately caused confusion. For instance, for the EUR/USD pair (the table can be found on the Spreads & Fees or Forex pages in the Markets section), a spread of 9.00 is indicated, which translates into 0.9 pips for the Standard account. However, in the account types table we see information stating that spreads start from 0.3 pips. At the same time, it is customary to present the benchmark spread using the most liquid and least volatile pair — namely, EUR/USD. Does this mean that the information provided by MetaGold on different pages does not match? And if so, can the published trading conditions be trusted at all?

By the way, to obtain a complete picture of trading parameters, contract specification tables alone are not sufficient. Some characteristics are listed by the company only in the account types section.

So, the company offers clients four account types:

• Standard — leverage up to 1:400, spreads from 0.3 pips, commissions of $2, and zero swaps for Forex pairs and gold. Minimum deposit: $100.
• ECN — the same conditions, but with zero commissions and a starting deposit from $500.
• Elite — leverage up to 1:300, commissions of $4, and spreads from 0.1 pips. Requires a deposit of $2,000.
• Crypto — designed for those who wish to trade the most popular crypto assets (132 cryptocurrencies paired with USD) within the Forex market. Minimum deposit: $500, maximum leverage 1:50; commissions, spreads, and swaps are listed in the relevant table.

For all accounts except Elite, the Stop Out level is 15%; for Elite accounts, it is 10%. Minimum and maximum trade volumes are not specified.

Overall, the trading conditions are detailed enough for a trader to assess both potential profitability and risk levels even before opening an account with the company. That said, we note that the combination of maximum leverage and Stop Out levels looks highly unattractive: the level of risk exceeds acceptable limits even for professional traders. Perhaps the firm is betting on users being attracted by its trading robot with automated risk management. In our view, however, it does not reduce the probability of a complete deposit loss in the first trades, which, under such trading conditions, is close to 100%.

Deposits and Withdrawals

On the page dedicated to account funding and withdrawals, MetaGold presents several methods for non-trading operations:

• Bank transfers.
• Debit/credit cards.
• Perfect Money system.
• Cryptocurrencies.

For all methods, minimum transaction amounts are indicated (equivalent to $100), and fees are zero for most options.

We would say that this page is completely useless, and the information it contains does not correspond to reality. In the client dashboard, monetary operations are only available via the Perfect Money system (which is now owned by Binance) or in cryptocurrencies.

In fact, both methods are essentially cryptopayments, with all the associated consequences: lack of transparency, insecurity, and violations of AML provisions. Perhaps the regulator overlooks this, but we do not consider such an approach honest or appropriate for a licensed broker.

MetaGold Legal Status: Legitimate or Not?

Overall, the broker’s offerings are unlikely to attract experienced traders. At the same time, many of the conditions may seem acceptable to beginners, despite numerous scam-like practices in the company’s operations. The answer to why the firm conducts its business this way can be found in official records about it.

The website states that the platform operates under its trade name through two companies:

• METAGOLD LLC, registered in Georgia.
• METAGOLD LTD, registered on the autonomous island of Mwali (Moheli), Comoros Union.

For the first company, a registration number is provided, and the project creators claim that it was issued by the authority that authorized and regulates the company’s activities — the Ministry of Justice. We checked the Georgian business registry and received the following result.

Indeed, there is an entry for METAGOLD LLC, registered in October 2022. However, the number mentioned by the broker on the website is merely a registration number and has nothing to do with the authorization of a brokerage service provider or the regulation of its professional activities.

Moreover, it is not related to the Ministry of Justice. The only regulator that licenses Forex/CFD brokers, monitors their compliance with the law, and oversees the protection of clients’ rights and interests is the National Bank of Georgia (NBG), according to the country’s laws on the Securities Market and on Licenses and Permits. NBG records contain no information about any licenses issued to the company, so the attempt to present it as a legally operating brokerage is nothing more than a story.

The situation is slightly different with the second company mentioned above. We obtained information about it from the official website of the Mwali International Services Authority (MISA).

The check showed that METAGOLD LTD was issued license No. BFX2025136 on November 14, 2025. It is also confirmed that the broker — or more precisely, its official website https://fxmetagold.com/ — belongs to this company.

Thus, formally, the project is legal (we would say semi-legal) and even operates, at least in some jurisdictions, within the law. However, in reality, the situation is far less reassuring:

• The popularity of MISA licenses is well-known: low cost and minimal restrictions. This is why hundreds of brokers have obtained them, more than half of which are already scams.
• The regulator imposes minimal requirements on how a company interacts with clients. For example, it does not set a maximum leverage limit, nor does it prohibit the use of bonuses, etc.
• In practice, MISA does not protect clients’ interests, as it does not define acceptable risk levels at all.
• The license issued by this authority is recognized almost nowhere. Even the Central Bank of the Comoros refers to MISA as a self-styled regulator and considers its permissions for brokerage activities invalid. Because the terms of such documents contradict the requirements of the vast majority of reputable regulators, the latter consider providing brokerage services under such licenses to be illegal.

Thus, one company operates without a license, while the other relies on a permit that carries practically no legal weight. Are you sure this is a licensed project? We are not. 

Company History

On the other hand, there are no issues with MetaGold’s history. The company itself was registered in Georgia, as we mentioned earlier, back in 2022. According to WHOIS data, the active domain fxmetagold.com appeared in February 2023.

Moreover, snapshots from the Web Archive show that the broker’s official website has been operating since that time. The only remark we can make is that until November 2025, the platform operated entirely without a license or regulation, meaning it was effectively providing services illegally in any jurisdiction. 

Fxmetagold.com Online Reputation

Interestingly, there are almost no user reviews of the company online. However, it is well-known on specialized trading and investment portals, such as WikiFX. Experts consider the firm far from impressive (scoring 2.5 out of 10) due to its use of a trash license. Users are warned to exercise caution when choosing MetaGold for trading.

The Final Take

Based on this MetaGold review, it is impossible to conclude definitively that the broker is a scam. The company has official registration in Georgia and even a license from MISA. However, the value of this license is extremely low, and the trading conditions on the platform are far from ideal. For these reasons, we assess the risk of cooperation with this company as high. Experts on specialized portals share a similar, and even harsher, view of the project.

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