Below is a detailed analysis of Goldenburg Group Limited, a Cyprus-based broker operating under the website https://goldenburggroup.eu, based on the requested criteria. The analysis incorporates online complaint information, risk level assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion.

1. Broker Overview ¶

Goldenburg Group Limited is a Cyprus Investment Firm (CIF) licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF License number 242/14 since July 2014. The broker offers trading services in Forex, Contracts for Difference (CFDs) on commodities, indices, shares, and ETFs, primarily through platforms like MetaTrader 5 (MT5) and xStation. The company emphasizes client fund security, compliance with MiFID II, and participation in the Investor Compensation Fund. Its primary operational domains are www.goldenburggroup.eu and www.toptrader.eu.

2. Online Complaint Information ¶

Online complaints about Goldenburg Group are mixed, with some serious concerns raised by users and review platforms:

• User Complaints:
• Withdrawal Issues: Some user reports highlight difficulties with withdrawals, a common grievance in the brokerage industry that raises concerns about liquidity or operational integrity.
• Customer Support: Complaints about unresponsive or inadequate customer support have been noted, which can exacerbate issues like withdrawal delays.
• Trading Platform Concerns: While the MT5 and xStation platforms are generally well-regarded, isolated complaints mention platform freezes or trade rejections, though these are not widespread.
• Review Platforms:
• BrokersView: Notes user complaints about withdrawals and support, alongside a CySEC fine, suggesting caution despite regulation.
• Global Fraud Protection: Mentions the inactivity of Goldenburg’s eTrader brand and regulatory fines, questioning the broker’s reliability.
• BrokerChooser and Traders Union: These platforms flag entities with similar names (e.g., Goldberg Capital Group, Goldberg Management) as unsafe or potential scams, indicating possible brand confusion (see section on Brand Confusion).
• Assessment: Complaints are not as prevalent as with outright scam brokers, but issues with withdrawals and support are red flags. The broker’s regulatory status mitigates some concerns, but user experiences suggest operational challenges.

3. Risk Level Assessment ¶

Goldenburg Group’s risk level is moderate to high based on the following factors:

• High-Risk Instruments: The broker offers CFDs, which are complex instruments with a high risk of loss due to leverage. Goldenburg itself discloses that 81.34%–89.25% of retail investor accounts lose money when trading CFDs, aligning with industry norms but highlighting inherent risks.
• Regulatory Fines: CySEC imposed fines of €270,000 in 2021 and €400,000 in 2023 for violations including organizational shortcomings, inappropriate client assessments, conflicts of interest, and failure to notify regulators about key information documents (KIDs). These fines indicate compliance issues that elevate risk.
• User Complaints: As noted, withdrawal and support issues contribute to a higher perceived risk.
• Leverage: Leverage is regulated by ESMA (up to 1:20 for major indices, 1:10 for minor indices, 1:5 for stocks), which limits excessive risk but still poses significant loss potential for inexperienced traders.
• Voluntary License Suspension: BrokersView reports that Goldenburg’s CySEC license is under voluntary suspension, which could indicate operational or strategic issues, though no official CySEC confirmation is available. Conclusion: While regulated, the combination of fines, complaints, and potential license suspension suggests a moderate-to-high risk profile, particularly for retail traders unfamiliar with CFDs.

4. Website Security Tools ¶

The security of https://goldenburggroup.eu is assessed based on available information:

• SSL/TLS Encryption: The website uses HTTPS with a valid SSL certificate, ensuring encrypted data transmission. This is standard for financial websites.
• Cookies and Tracking: The site employs first- and third-party cookies, SDKs, pixels, and local storage to recognize users, customize services, and enhance security. Users can adjust cookie settings, indicating compliance with GDPR. However, extensive tracking could raise privacy concerns if not transparently managed.
• Fraud Prevention: The website claims to use cookies and device recognition to mitigate risk, prevent fraud, and ensure security, but no specific tools (e.g., two-factor authentication, IP whitelisting) are detailed.
• Server Information: The site runs on Apache/2.4.29 (Ubuntu) at port 443, a common and relatively secure configuration, though no advanced security features (e.g., DDoS protection) are explicitly mentioned. Assessment: The website meets basic security standards with HTTPS and cookie-based fraud prevention but lacks transparency about advanced security measures. Traders should ensure their accounts use strong passwords and, if available, two-factor authentication.

5. WHOIS Lookup ¶

A WHOIS lookup for goldenburggroup.eu provides the following insights:

• Domain Name: goldenburggroup.eu
• Registrar: Likely a European registrar (exact details unavailable due to GDPR restrictions on public WHOIS data).
• Registration Date: The domain has been active for several years, consistent with the broker’s establishment in 2014.
• Registrant: Likely Goldenburg Group Limited, based in Limassol, Cyprus, though GDPR obscures personal details.
• Status: Active, with no indication of domain expiration or suspension. Assessment: The domain aligns with the broker’s operational history and Cyprus base. No immediate red flags arise from the WHOIS data, but limited transparency due to GDPR is typical for EU domains.

6. IP and Hosting Analysis ¶

• IP Address: The IP for goldenburggroup.eu is not explicitly provided in the sources, but the server is identified as running Apache/2.4.29 on Ubuntu, hosted at port 443.
• Hosting Provider: Likely a European provider, given the .eu domain and Cyprus base, but specific details are unavailable.
• Geolocation: The server is presumably hosted in or near Cyprus, aligning with the broker’s headquarters at 46 Ayiou Athanasiou Avenue, Interlink Hermes Plaza, Office 101, Ayios Athanasios, 4102 Limassol, Cyprus.
• Security: No reports of hosting-related vulnerabilities, but the lack of detailed hosting information limits assessment. Assessment: Hosting appears stable and geographically consistent with the broker’s operations. Traders should verify the site’s authenticity (e.g., via HTTPS and domain name) to avoid phishing risks.

7. Social Media Presence ¶

Goldenburg Group maintains a limited but active social media presence:

• LinkedIn: The broker has two LinkedIn profiles:
• Goldenburg Group Limited: 427 followers, last updated in 2022, emphasizing CySEC regulation and trading opportunities.
• GoldenBurg Group: 391 followers, more active, with posts about events like the Vision Forex Forum and International Environment Day.
• Other Platforms: No significant presence on Twitter/X, Facebook, or Instagram is noted, which is unusual for a broker targeting retail clients.
• Content: Posts focus on regulatory compliance, trading platforms, and industry events, with risk warnings included (e.g., CFD loss statistics). Assessment: The LinkedIn presence is professional but limited, and the lack of broader social media engagement may limit transparency and client interaction. The dual LinkedIn profiles (Goldenburg vs. GoldenBurg) could cause minor confusion.

8. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge:

• Regulatory Fines:
• 2021 (€270,000): For violations of organizational requirements, client appropriateness assessments, tied agent obligations, and CFD marketing rules.
• 2023 (€400,000): For failing to ensure employee competence, notify Slovenian regulators, include required KID information, and manage conflicts of interest.
• These fines suggest persistent compliance issues, undermining trust.
• Voluntary License Suspension: The reported suspension of Goldenburg’s CySEC license (unconfirmed by CySEC) is a significant concern, as it could indicate operational or financial difficulties.
• User Complaints: Withdrawal delays and poor support are recurring issues, common among less reliable brokers.
• Brand Confusion: Similar-sounding entities (e.g., Goldberg Capital Group, Goldberg Management) are flagged as scams, potentially harming Goldenburg’s reputation (see Brand Confusion section).
• Tied Agent Terminations: The termination of tied agents like Corinth Capital M.E.P.E in Greece (2021) and agreements with entities like QUAENTAS s.r.o and Fors Magna, S.L. suggest instability in partnerships.
• High CFD Risk: The broker’s focus on CFDs, with high loss rates (81.34%–89.25%), is a structural risk, though not unique to Goldenburg. Assessment: The combination of fines, potential license suspension, and complaints constitutes significant red flags. While not indicative of a scam, these issues suggest caution.

9. Website Content Analysis ¶

The content on https://goldenburggroup.eu is professional but reveals certain characteristics:

• Claims and Promises:
• Emphasizes “best trading opportunities” in Forex, CFDs, and other instruments, which is standard marketing but can oversell potential returns.
• Highlights client fund security under MiFID II and CySEC regulations, including Investor Compensation Fund participation, which is credible.
• Risk Disclosures:
• Clearly states CFD risks, including loss statistics (81.34%–89.25% of retail accounts lose money), aligning with regulatory requirements.
• Provides risk disclosure reports (2014–2020) and execution quality summaries (2017–2020), enhancing transparency.
• Platform Information:
• Promotes MT5 and xStation as user-friendly for beginners and advanced traders, with no evidence of proprietary platform manipulation.
• Mentions leverage limits set by ESMA, ensuring regulatory compliance.
• Regulatory Information:
• Clearly displays CySEC license (242/14) and compliance with MiFID II, ESMA, and Cyprus Investment Services Law.
• Warns about fraudulent entities misusing its name, advising users to verify licensing with CySEC.
• Language and Accessibility:
• Available in multiple languages (e.g., Czech, English), targeting a broad European audience.
• Cookie consent interface complies with GDPR, though extensive tracking may concern privacy-conscious users. Assessment: The website is transparent about risks, regulation, and platforms, with no overt signs of deceptive marketing. However, generic claims of “best opportunities” and extensive tracking warrant scrutiny.

10. Regulatory Status ¶

Goldenburg Group’s regulatory status is a critical factor:

• CySEC Regulation:
• Licensed as a CIF (242/14) since July 2014, subject to CySEC oversight, MiFID II, and ESMA regulations.
• Participates in the Investor Compensation Fund, offering up to €20,000 per client in case of insolvency.
• Governed by Cyprus Investment Services and Activities Law (87(I)/2017) and EU regulations.
• Fines and Violations:
• 2019 (€170,000): For non-compliance with Investment Services Law (details unspecified).
• 2021 (€270,000): For organizational issues, client assessment failures, tied agent mismanagement, and CFD marketing violations.
• 2023 (€400,000): For employee competence, KID notification failures, and conflict of interest mismanagement.
• These fines indicate recurring compliance issues, though settlements suggest cooperation with CySEC.
• Voluntary Suspension:
• BrokersView claims the CySEC license is under voluntary suspension, but CySEC’s website (www.cysec.gov.cy) does not confirm this as of April 2025. Traders should verify directly with CySEC.
• Other Jurisdictions:
• Authorized to operate in the EEA under MiFID II passporting but not in non-EEA jurisdictions without additional licenses, limiting global reach.
• Listed by the Bank of Lithuania as a financial brokerage firm providing services in Lithuania without a branch. Assessment: CySEC regulation provides a baseline of legitimacy, but repeated fines and potential license suspension raise concerns. Traders should confirm the license status directly with CySEC before engaging.

11. User Precautions ¶

To mitigate risks when dealing with Goldenburg Group, users should:

• Verify License: Check CySEC’s website (www.cysec.gov.cy) to confirm the broker’s license status (242/14) and ensure it is active.
• Start with a Demo Account: Use the risk-free demo account on MT5 to test the platform and trading conditions without financial exposure.
• Monitor Withdrawals: Test withdrawals with small amounts to ensure reliability before committing significant funds.
• Read Agreements: Carefully review user agreements, trading conditions, and risk disclosures to understand fees, leverage, and bonus terms.
• Avoid High Leverage: Stick to lower leverage (e.g., 1:5 or 1:10) to minimize loss potential, especially for beginners.
• Secure Accounts: Use strong passwords and enable two-factor authentication if available. Be cautious of phishing attempts mimicking the official site.
• Report Issues: If withdrawal or support issues arise, file a complaint with CySEC or seek legal/chargeback assistance promptly.
• Check for Impostors: Verify the broker’s identity (e.g., via official domains goldenburggroup.eu or toptrader.eu) to avoid fraudulent entities.

12. Potential Brand Confusion ¶

Goldenburg Group faces significant risk of brand confusion due to similarly named entities flagged as scams:

• Goldberg Capital Group Ltd:
• BrokerChooser labels it as unsafe and untrustworthy, citing a lack of top-tier regulation.
• No clear connection to Goldenburg Group, but the similar name could mislead users.
• Goldberg Management:
• Traders Union warns that it is unregulated or registered offshore, with unreliable management information, advising against engagement.
• Likely unrelated to Goldenburg, but the name similarity poses a risk.
• Goldberg & Associate:
• BrokerChooser flags it as a scam, lacking top-tier regulation.
• Again, no direct link to Goldenburg, but the naming pattern increases confusion.
• Goldenburg’s Response:
• The broker acknowledges fraudulent entities misusing its name and reports suspicions to CySEC, which issues warnings. It advises users to verify licensing and avoid impostors.
• Operates only via approved domains (goldenburggroup.eu, toptrader.eu), distancing itself from unaffiliated sites. Assessment: The prevalence of scam brokers with similar names (Goldberg vs. Goldenburg) is a major risk, potentially damaging Goldenburg’s reputation and confusing clients. Traders must verify the exact domain and CySEC license to avoid scams.

13. Overall Assessment and Recommendations ¶

Summary:

• Strengths:
• CySEC-regulated with a valid CIF license (242/14) since 2014, ensuring some oversight and Investor Compensation Fund protection.
• Transparent risk disclosures and compliance with MiFID II/ESMA regulations.
• Offers reputable platforms (MT5, xStation) and a demo account.
• Professional website with clear regulatory information and fraud warnings.
• Weaknesses:
• Repeated CySEC fines (€170,000 in 2019, €270,000 in 2021, €400,000 in 2023) indicate compliance issues.
• User complaints about withdrawals and support suggest operational challenges.
• Potential voluntary license suspension raises uncertainty.
• Limited social media presence and brand confusion with scam entities (Goldberg Capital, etc.) harm credibility.
• High CFD loss rates (81.34%–89.25%) reflect significant trading risks. Risk Level: Moderate to High. While regulated, the broker’s fines, complaints, and potential license issues elevate risk, particularly for retail traders. Recommendations:
• For Traders:
• Approach with caution, starting with a demo account and small deposits.
• Verify license status with CySEC and use only official domains (goldenburggroup.eu, toptrader.eu).
• Be wary of high leverage and thoroughly review terms to avoid surprises.
• Monitor withdrawals closely and escalate issues to CySEC if needed.
• For Experienced Traders:
• May consider Goldenburg for its MT5/xStation platforms and EEA regulation, but only after confirming license status and testing withdrawals.
• Explore alternatives with stronger reputations (e.g., eToro, IG Group) to minimize risk.
• Avoid if:
• You are a beginner with limited CFD experience, given the high loss rates and operational concerns.
• You encounter withdrawal or support issues, as these are red flags of deeper problems. Final Note: Goldenburg Group is not a scam but falls short of being a top-tier broker due to compliance issues, user complaints, and brand confusion risks. Traders should prioritize due diligence, verify regulatory status, and consider safer alternatives with cleaner track records.

Sources:

• Goldenburg Group website: https://goldenburggroup.eu
• CySEC: https://www.cysec.gov.cy
• FX News Group: Fines in 2021 and 2023
• BrokersView: Complaints and license suspension
• Global Fraud Protection: eTrader review
• BrokerChooser: Goldberg Capital Group, Goldberg & Associate
• Traders Union: Goldberg Management
• LinkedIn: Goldenburg Group profiles
• Bank of Lithuania: EEA operations Disclaimer: This analysis is based on available information as of April 21, 2025, and does not constitute investment advice. Trading CFDs involves high risk, and users should conduct their own research and consult financial advisors before engaging with any broker.