Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighHolds only a Dubai commercial trade licence (no. 1084512); no financial-markets regulator oversees its deposit-taking gold accounts, and the licence could not be confirmed on a public register. No fabricated or borrowed financial licence, so not top of scale.
Identity & transparency
3/10 · LowFull public disclosure of legal entity, licence number, phone, email and a Deira gold-souk office that is independently confirmed as a staffed physical shop; minor gaps are the unverifiable licence and a broken trading-terms link.
Withdrawals & conduct
5/10 · ModerateA recurring minority of fund-integrity complaints (paid orders or refunds not honoured, company then unreachable) across two platforms, with one hostile company reply, but outweighed by many confirmed successful purchases; pattern is real yet unconfirmed as systematic.
Reputation
5/10 · ModerateNet-positive across platforms (about 4.1 stars on mapping reviews, 3.8 on Trustpilot) with specific satisfied-buyer accounts, but a persistent one-star minority alleging non-delivery or non-refund and unprofessional responses; no regulator warnings.
Website claims
5/10 · ModerateAdvertises a 'guarantee [of] profit generation', which no gold investment can honestly promise, and the specific bullion-trading terms are not accessible; however it does not claim any financial licence it lacks and product and price claims check out.
Operational history
3/10 · LowWeb presence verified to at least December 2019 (about seven years); the company incorporation date could not be dated on a public register, so the figure rests on the domain leg, and longevity claimed beyond that is unverified.
Who they are
A quick desk file on the company behind the brand.
- Brand: GOLDTRADE (Gold Trade)
- Legal entity: RKV Gold Trade LLC
- Registered: 217, Sheikha Building, Al Ras, Deira, Dubai, United Arab Emirates
- Website: goldtrade.ae
- Only licence: Dubai Department of Economy and Tourism commercial trade licence no. 1084512 (a business permit, not financial regulation)
- Offers: physical gold, silver, platinum and palladium bars and coins with delivery, a bullion trading account, a monthly gold savings plan, and gold price fixing for jewellers
- Not offered: no financial-markets regulator (no UAE SCA, DFSA, VARA, FCA, ASIC or CySEC), no forex pairs, no CFDs and no MetaTrader; funding is by bank transfer or cheque, not card or crypto on the deposit page
- Age claim: presents itself as long established with 'multi-generational' gold experience; the website is verifiable back to about 2019
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Dubai Department of Economy and Tourism (DET)
Why we reached this verdict
How the evidence adds up.
We rate GOLDTRADE high risk and unverified for these reasons:
- It is not a forex or CFD broker. It is a physical precious-metals dealer and gold-savings provider. Its mapping-service listing is categorised as a gold dealer, and its pages sell real bars with doorstep delivery.
- No financial regulation protects client money. Its only licence is a Dubai commercial trade licence. No financial-markets regulator supervises the 'bullion' and 'savings' accounts that hold client funds and metal, and the terms of use describe an 'investment platform' with 'positions', 'margin' and 'stop-loss' while not clearly stating that client gold is allocated or protected if the firm fails.
- The company could not be confirmed on a public register. The UAE does not publish an open company-register search, so trade licence 1084512 cannot be independently verified. A staffed shop at the registered Deira address is, however, independently confirmed.
- A minority of customers report money not returned. On two separate review platforms, different customers describe a paid order or a promised refund that never arrived, after which the company became unreachable, and one public company reply was openly hostile. This is a real but unconfirmed pattern, and most buyers report successful purchases and buy-backs.
- It advertises a 'guarantee [of] profit generation'. No gold investment can honestly promise guaranteed profit, and the detailed bullion-trading terms a client must accept are not reachable on the site.
Note on operating history: the 6.8-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1GOLDTRADE is a physical precious-metals dealer selling gold, silver and platinum bars with delivery and a bullion account, not a forex or CFD broker; the About page names the operating entity RKV Gold Trade LLC.
E2The only licence stated is Dubai Department of Economy and Tourism commercial trade licence no. 1084512, a business permit rather than financial-markets regulation; no financial regulator supervises the client accounts.
E3A mapping-service business listing for Gold Trade (RKV Gold Trade LLC) is categorised as a gold dealer at 217 Sheikha Building, Al Ras, Deira, with business hours, photographs, street view and owner posts, confirming a real staffed physical presence.
E4The goldtrade.ae website is recorded online from at least 21 December 2019, giving roughly seven years of confirmed operating presence.
ModerateWeb archive (earliest capture)E5Separate customers on two platforms report a paid order or a promised refund that never arrived and the company then unreachable: a Trustpilot review (January 2025) describes a non-delivered order and a card dispute, and a mapping-service review describes a refund promised in four days that never came.
E6A public company reply to a one-star complaint was openly hostile, telling the reviewer the company would not deal with them even if they called a hundred more times, which signals poor complaint handling.
ModerateGoogle Maps owner responseE7The About page states the company can confidently 'guarantee profit generation' for individual and corporate gold investors, a claim no gold investment can honestly make.
ModerateGOLDTRADE website (About page)E8The terms of use reference an 'investment platform' with 'positions', 'margin' and 'stop-loss' and allow the company to liquidate accounts, do not clearly state that client gold is allocated or segregated before a delivery request, and place disputes under Dubai Courts.
ModerateGOLDTRADE website (Terms of Use)E9Multiple reviewers across platforms report genuine repeat purchases, on-time delivery and selling gold back for profit, including a buyer who posted a photo of a one-ounce bar bought from the company.
E10A sweep of regulator warning lists and general sources returned no warning, alert, enforcement action or fraud record naming goldtrade.ae or RKV Gold Trade LLC; an FCA warning for a similarly named 'Gold Trading Yorkshire' is a different firm.
ModerateRegulator warning-list and web sweepE11The savings account requires full identity verification (passport, visa, Emirates ID, proof of address) under anti-money-laundering rules and takes funds only through registered bank channels rather than crypto wallets, which is atypical of a scam.
The other side
The strongest case in this broker’s favour.
In fairness to GOLDTRADE:
- It is a real, physically present business in Dubai's historic gold market, with a staffed office, photographs and street-level presence, not a web-only shell.
- It sells genuine, recognised bullion brands such as PAMP Suisse, Valcambi and Emirates Gold at prices tied to the live spot market, and most reviewers say they received their gold and could sell it back.
- It has operated online since about 2019 and holds a valid Dubai commercial trade licence.
- It applies real identity checks (passport, Emirates ID, proof of address) and takes money only through registered bank channels, not crypto wallets, which is unusual for a scam.
- No regulator warning, enforcement action or fraud case names this company or its website.
- The gold savings plan is described realistically, with no fixed-return promise and open acknowledgement that the gold price moves up and down.
What would change this
What we would need to see to revise the verdict.
What would move this verdict up or down:
- Toward lower risk: authorisation by a financial-markets regulator (for example the UAE Securities and Commodities Authority), independent proof that client gold is allocated and insured, or public confirmation of trade licence 1084512 on an official register.
- Toward higher risk: a regulator warning naming goldtrade.ae, a cluster of fresh and consistent reports of refused withdrawals or undelivered gold, or any demand for an extra 'fee' or 'tax' before a client's money or metal is released.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
GOLDTRADE company and licence page
Where GOLDTRADE states its legal name RKV Gold Trade LLC and Dubai trade licence number 1084512
Trustpilot reviews for goldtrade.ae
Independent customer reviews of the website
Google Maps business listing
Confirms a physical gold-dealer shop at the Deira address, with photos and customer reviews
Bullion-dealer directory listing
Third-party bullion-dealer directory entry and ratings
Frequently asked questions
Quick answers about this broker’s safety.
Is GOLDTRADE a scam?
We found no proof that GOLDTRADE is a scam. It is a real Dubai gold dealer, RKV Gold Trade LLC, with a physical shop in the Deira gold market, and most customers report receiving their gold. However, it is unregulated as a financial business, so we rate it high risk for any money left in its accounts.
Is GOLDTRADE a fraud?
No regulator warning, enforcement action or fraud case names GOLDTRADE or goldtrade.ae, and we did not find evidence of fraud. A minority of customers do report a paid order or refund that was not honoured, so keep records and prefer small, delivered purchases.
Is GOLDTRADE a forex or CFD broker?
No. Despite being listed as a broker, GOLDTRADE is a physical precious-metals dealer. It sells gold, silver, platinum and palladium bars and coins and runs gold savings and trading accounts that settle in physical metal. It does not offer forex pairs, CFDs or MetaTrader.
Is GOLDTRADE regulated?
Not by any financial authority. Its only licence is a Dubai Department of Economy and Tourism commercial trade licence (number 1084512), which is a business permit. No financial regulator such as the UAE SCA, DFSA or VARA supervises the money and gold it holds for clients.
Can I withdraw my money or redeem my gold?
Many buyers report successful delivery and buy-back, but some say a paid order or a promised refund never arrived and the company then stopped replying. Because no regulator oversees the accounts, there is no financial-services route to force a payout if that happens.
Is my money safe with GOLDTRADE?
Money or un-redeemed gold left in a GOLDTRADE account is not protected by any financial regulator or deposit-protection scheme, and the terms do not clearly state that client gold is allocated and segregated. A delivered or collected physical bar you hold yourself carries far less counterparty risk.
Who owns GOLDTRADE?
The website is operated by RKV Gold Trade LLC, a company registered in Dubai, UAE, at 217 Sheikha Building, Al Ras, Deira. The public pages do not name the individual owners or directors.
How old is GOLDTRADE?
The goldtrade.ae website has been online since at least late 2019, about seven years. The firm presents itself as long established with 'multi-generational' gold experience, but an earlier founding date could not be independently confirmed.
What is the Dubai trade licence 1084512 worth to me?
It confirms the company is a registered Dubai business allowed to trade precious metals. It is not financial regulation: it does not vet how client funds are held, does not guarantee redemptions, and gives you no investor-protection rights.
Is GOLDTRADE a clone of another company?
No. We found no sign that GOLDTRADE impersonates another firm. It uses its own brand, domain and legal entity, and does not borrow another company's licence number or identity.
Is the gold real?
The products listed are recognised bullion brands such as PAMP Suisse, Valcambi and Emirates Gold, priced against the live spot market, and reviewers include buyers who received and later sold back real bars. We could not independently test any specific delivery.
What should I check before paying GOLDTRADE?
Prefer a small first order with immediate delivery or in-person collection in Dubai. Get any price, buy-back or redemption terms in writing, keep all receipts, and avoid leaving a large balance or un-redeemed gold in an account. For leveraged gold trading, use a broker licensed by a recognised regulator instead.
What we recommend
The practical takeaway from everything above.
If you are considering GOLDTRADE:
- Treat it as an unregulated gold dealer, not a supervised broker. Do not assume any financial-services protection for money or metal left in its accounts.
- If you buy, prefer a small, one-off purchase with immediate delivery or in-person collection over funding a long-term 'savings' or 'trading' balance.
- Keep every receipt and transfer confirmation, and get any buy-back or redemption promise in writing before you pay.
- For leveraged or speculative gold trading, use a broker licensed by a recognised regulator instead.
- For the platform record: this entity is a precious-metals dealer and should be reclassified out of the forex-broker category; its regulatory status remains unregulated.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 13, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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