Overview of GOING INTERNATIONAL
Going International, established in 2020 and based in Hong Kong, operates as an unregulated entity within the financial sector, raising concerns about its legitimacy and compliance. Despite its unregulated status, the platform offers an array of market instruments, including Forex, Stocks, Commodities, Options, and more, catering to diverse trading preferences. The platform specifically provides an All-in-one account type, with a minimum deposit requirement of $100, making it accessible to traders with varying capital sizes. The maximum leverage offered reaches up to 1:500, allowing traders to amplify their positions compared to their initial investment, potentially enhancing profit opportunities.
Going International prides itself on competitive spreads, commencing from low values, offering traders favorable pricing for executing trades. The platform operates solely on the MT4 trading platform, known for its user-friendly interface and comprehensive charting tools. However, the platform's educational resources are notably lacking, with a dearth of comprehensive materials such as detailed guides or tutorials, potentially impeding new users' learning experiences.
Is GOING INTERNATIONAL legit or a scam？
Going International Financial Group Limited, operates without regulated licenses from the Securities and Futures Commission of Hong Kong (SFC), marking as a suspicious clone within the financial sector. Claiming to deal in futures contracts, this institution lacks proper authorization or oversight from the regulatory body, indicating non-compliance with established financial regulations.
The institution holds License No. BPS863, purportedly effective from December 30, 2020. However, critical contact details like email addresses or phone numbers associated with the licensed institution are absent, raising significant doubts about its authenticity and compliance.
Pros and Cons
Pros:
1.Diverse Trading Assets: The platform offers a wide range of trading assets, encompassing various markets like Forex, Stocks, Commodities, Options, and more. This diversity allows traders to explore different markets and create diversified portfolios according to their preferences and strategies.
2. High Leverage Options: Going International provides high leverage options, allowing traders to amplify their positions compared to their initial investment. This feature potentially enhances profit potential but necessitates cautious risk management due to increased exposure.
3. Competitive Spreads: The platform boasts competitive spreads, starting from low values, offering traders favorable pricing for executing trades. Narrower spreads contribute to cost efficiency in trading activities.
4. User-Friendly Platform: Going International presents a user-friendly trading platform, likely equipped with a straightforward interface, comprehensive charting tools, and technical indicators. A user-friendly platform streamlines trading activities and provides ease of navigation for traders at various skill levels.
Cons:
1.Unregulated (Suspicious Clone): Going International operates without regulatory oversight, raising concerns about its legitimacy or adherence to established financial regulations. This unregulated status might create uncertainty or mistrust among potential users.
2. Lack of Educational Resources: The platform lacks comprehensive educational materials, such as detailed guides, video tutorials, or live webinars. This absence impedes new users' learning curve, potentially leading to errors and losses due to inadequate guidance.
3. Limited Customer Support: Going International might offer limited customer support channels, potentially affecting users' access to timely assistance or guidance. Limited support options might impact issue resolution or hinder seamless user experiences.
Market Instruments
Going International reportedly offers an array of trading assets spanning Forex, CFDs, Stocks, ETFs (Exchange-Traded Funds), Options, and Futures.
Forex: Traders can likely access various currency pairs within the Forex market, involving major pairs like EUR/USD, GBP/USD, USD/JPY, along with minor and exotic pairs, enabling speculation on currency fluctuations.
CFDs (Contracts for Difference): These derivative products might include indices, commodities, stocks, or cryptocurrencies, allowing traders to speculate on price movements without owning the underlying assets.
Stocks: The platform might offer access to shares of publicly traded companies across various stock markets, enabling users to invest in individual companies' performance.
ETFs (Exchange-Traded Funds): Traders might have the opportunity to invest in diversified portfolios mirroring market indices, sectors, or commodities, traded on exchanges similar to stocks.
Options: The platform potentially facilitates options trading, providing traders the right (but not the obligation) to buy or sell an asset at a predetermined price within a specified period.
Futures: Traders may engage in futures contracts, agreements to buy or sell an asset at a predetermined price and date in the future, allowing speculation on price movements without owning the asset itself.
These diverse trading assets offer users multiple opportunities to create diversified portfolios, capitalize on market movements, and engage in various trading strategies based on their preferences and risk tolerance.
Account Types
Going International offers an All-in-one account type designed to cater to a diverse range of traders. This account presents a leverage of up to 1:500, enabling users to amplify their positions relative to their initial investment. The variable spreads, commencing from 0.8 pips, may attract traders seeking precise pricing in their trading endeavors.
However, there's a commission structure in place, starting from USD $7 per round turn lot, potentially appealing to those prioritizing transparent cost structures over wider spreads. With a minimum deposit requirement of USD $100, this account type is accessible to traders with varying capital sizes. Withdrawals processed within 24 hours add convenience and efficiency to users' financial transactions. The provision of a demo account offers a risk-free environment for practice and strategy testing.
How to Open an Account？
Here are six straightforward steps to guide you through opening an account with Going International:
1.Visit the Website: Access the official website of Going International through your preferred web browser.
2. Account Registration: Look for the “Sign Up” or “Register” option on the website's homepage. Click on it to begin the registration process. Provide essential details such as your full name, email address, country of residence, and phone number. Create a secure password for your account.
3. Choose Account Type: Select the desired account type, such as the All-in-one account, based on your trading preferences and needs. Review the account specifications, including leverage, spreads, commissions, and minimum deposit requirements, to align with your trading strategy.
4. Submit Verification Documents: Complete the account verification process by uploading scanned copies or photos of identification documents, such as a passport or driver's license, and proof of address, like a utility bill or bank statement. This step is essential for account authentication and compliance.
5. Deposit Funds: After your account is verified, proceed to fund your account. Going International typically supports various deposit methods like credit/debit cards, bank transfers, or e-wallets. Choose the most suitable method and follow the instructions to deposit funds into your trading account.
6. Start Trading: Once your account is funded, access the trading platform provided by Going International, such as MetaTrader 4 or MetaTrader 5, using the login credentials you created during registration. Explore the available tools, select your preferred trading assets, and begin executing trades based on your trading strategy and analysis.
Leverage
Going International offers a maximum leverage of up to 1:500 for its All-in-one account type. This leverage ratio enables traders to control positions larger than their initial investment amount. With a leverage of 1:500, traders can potentially amplify their exposure to the market, allowing for increased profit potential from successful trades.
However, it's important to note that while higher leverage can magnify profits, it also escalates the risk of substantial losses, especially if not managed effectively. Traders need to exercise caution and implement robust risk management strategies when utilizing high leverage to mitigate potential downsides in their trading activities.
Spreads & Commissions
Going International applies varying spreads and commission structures across its account types, notably the All-in-one account. This account type features variable spreads starting from 0.8 pips, offering traders a competitive pricing model for their trades. However, there's a commission fee attached, starting from USD $7 per round turn lot. The commission-based structure might appeal to traders prioritizing transparency over wider spreads, especially those engaging in larger trade volumes or seeking precise pricing.
Comparatively, the fee structure of the All-in-one account, with its combination of variable spreads and commissions, suits traders with a preference for tailored cost structures. For users conducting larger trade sizes or those seeking an account with clear and transparent costs, the commission-based model might be advantageous.
Trading Platform
Going International utilizes the MetaTrader 4 (MT4) trading platform, a widely recognized and commonly used platform within the financial industry. MT4 offers traders a user-friendly interface with comprehensive charting tools, technical indicators, and analysis features. The platform supports automated trading through Expert Advisors (EAs) and allows for customization with various plugins and algorithmic trading strategies.
MT4 is known for its stability and reliability, providing traders with efficient trade execution and real-time market data. However, while MT4 is a robust platform, it may lack some of the more advanced functionalities found in newer trading platforms. Despite this, its popularity and widespread usage make it a preferred choice for many traders due to its reliability and familiar interface. Going International offers this platform to facilitate trading activities, providing users with access to a dependable and established trading environment.
Deposit & Withdrawal
Going International offers a variety of convenient payment methods to fund your trading account. These include:
Credit/Debit Cards: Major credit and debit cards are accepted, such as Visa, Mastercard, and Maestro. Deposits are processed instantly and incur no fees.
Bank Transfers: Local bank transfers are accepted for Hong Kong residents. Processing time can take 1-3 business days. Fees may be applicable depending on your bank.
International Bank Transfers: International bank transfers are accepted for non-Hong Kong residents. Processing time can take 3-5 business days. Fees may be applicable depending on your bank.
Minimum Deposit：The minimum deposit required to open a standard account at Going International is USD $100. This is a relatively low minimum deposit compared to other brokers, making it accessible to new traders.
Customer Support
Going International provides customer support via email at info@goingmerry.group and through their company phone at +852 2866 0633. The support is available to address inquiries, offer assistance, and resolve concerns related to trading activities. This multi-channel support system ensures accessibility for users seeking guidance or clarification.
However, the specific responsiveness and resolution timeframe for queries may vary, impacting the overall efficiency of issue resolution. Traders are encouraged to provide detailed information in their communications to expedite support. While the email and phone options offer direct avenues for assistance, the absence of additional support channels might limit immediate or real-time assistance for users.
Educational Resources
Going International faces a notable deficiency in educational materials, posing challenges for new users striving to navigate the platform and delve into cryptocurrency trading. Critical resources like a comprehensive user guide, video tutorials, live webinars, and insightful blogs are notably absent.
This dearth of educational support hampers the learning curve for newcomers, potentially resulting in errors and financial losses. The inadequate guidance may deter these users from actively participating in trading activities due to the steep learning curve and the risks associated with insufficient knowledge and support.
Conclusion
Going International presents a trading platform with notable strengths and significant limitations. On the positive side, the platform offers a diverse array of trading assets, high leverage options, competitive spreads, and a user-friendly interface. This diversity in assets allows for portfolio diversification, while high leverage options and competitive spreads enhance trading opportunities. The user-friendly interface fosters a seamless trading experience for users at different skill levels.
However, these advantages are counterbalanced by critical disadvantages. The platform operates without regulatory oversight, raising concerns about its legitimacy and compliance. The absence of educational resources impedes new users' learning curve, potentially leading to errors and losses, while limited customer support channels might impact issue resolution and user assistance.
FAQs
Q: What trading assets does Going International offer？
A: Going International provides access to diverse assets like Forex, Stocks, Commodities, Options, and more.
Q: Is Going International regulated？
A: No, Going International operates without regulatory oversight, raising concerns about its legitimacy.
Q: Does Going International offer educational resources？
A: No, the platform lacks comprehensive educational materials, hindering new users' learning experiences.
Q: What is the leverage offered by Going International？
A: Going International provides high leverage options, up to 1:500 for traders.
Q: How's the customer support at Going International？
A: Customer support may be limited, available through email and a company phone number, impacting immediate assistance.
Q: Are demo accounts available on Going International？
A: There's no mention of a demo account, suggesting its absence on the platform.
