This is an archived reading from Sep 15, 2026. It is not the current one, and METAGOLD may have changed these documents since.Read the current report

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Contract reading

What METAGOLD legally published, but does not want you to read

Every clause below was published by METAGOLD itself, on its own website, on the day we read it. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. This is what they said on .

Contracting entity: METAGOLD LLC

sole discretionwithdrawalscomplaintskyc freezelanguage barrierbonus lockforum waiverhidden feejoint liabilitymarketing gap

MetaGold's contract is signed by two companies, in two countries, and never says which one is yours. Its deposit page says MetaGold charges no fee, while a Persian page shows a 4% fee on instant Rial deposits. Complaints must be written in English, you pay the translator, and the only appeal is the inbox that just rejected you. If a trade runs past your balance, MetaGold can demand the difference in cash.

Back to METAGOLD

Contract risk

Money at risk
8.7/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
13
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
31
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
27
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 31 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical13
Warning16
Notice2

section 20 of 20is where the deepest clause sits: the very end of the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical4%Fee you were not shown. Jump to the clause this comes from.A 4% deposit fee the contract never mentionsCritical1 working daysWithdrawal limit. Jump to the clause this comes from.One working day in English, no limit in PersianCritical2In the contract. Jump to the clause this comes from.Two companies sign, and neither is named as yoursCritical30 daysTime to complain. Jump to the clause this comes from.The only appeal is the inbox that just said no

What the documents say

31 clauses worth knowing about, worst first, each quoted from METAGOLD's own files

01

A 4% fee applies to every instant Rial deposit through MetaGold's online gateway. MetaGold's own deposit page says it charges no fee, and no contract you sign names the 4% anywhere.

Why this matters

Put in $1,000 through the instant gateway and $40 is gone before your first trade. You only find that number by opening a Persian tutorial page written about internet outages.

Exhibit 3CriticalHarder than usual4%

Withdrawal fees are determined based on your selected method and may vary depending on the network or banking system used.
Clause 5.9 in General Terms and Conditions, p.3
Read from the broker's site on Open the reference

Where it sits: section 7 of 20 in the General Terms and Conditions, 35% of the way through.

What it costsA $1,000 instant Rial deposit reaches your account as $960. The $40 buys you nothing.

02

MetaGold handles complaints in English only. If you write yours in Persian, MetaGold accepts it, but you pay every translation cost and the answer comes back to you in English.

Why this matters

You read a Persian site, deposit in Rial, and message a Persian support agent on Telegram. The moment something goes wrong the language changes, and the bill for that change is yours.

Exhibit 1CriticalRarely seen

Complaints must be submitted in English, being a language used by the Company to market its services or communicate with clients. If you provide your complaint in another language, we accept it, but all translation costs will be borne by complainant, and answer will be in English.
Clause Conditions for admissibility of complaints in Complaints Policy
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must handle a complaint in the language they sold in, at no cost to the client. MetaGold accepts your language and charges you for it.

METAGOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingBrokers normally accept complaints in any language they sell in. Here the Persian document is the one telling Persian speakers that English is the language MetaGold uses with clients.

  • Worse together with Exhibit 18Your identity papers and your complaint both have to be turned into English at your own cost before MetaGold acts on either.
03

MetaGold's English payment policy caps a withdrawal at one working day. Clause 3.7 of the Persian version says it may take more than one working day, and MetaGold's website says two to three.

Why this matters

You cannot hold MetaGold to a deadline when its own documents carry three. If your payment is late, the version written in your language is the one with no limit in it.

Exhibit 4CriticalRarely seen1 working days

Withdrawal instructions execution time depends on the currency, payment method and time of instruction receipt, but shall not exceed one working day from the instruction receipt.
Clause 3.7 in Transfer and Withdrawal Policy, p.3
Read from the broker's site on Open the reference

Our readingA translated contract normally repeats the same promise. Here one clause number carries a cap in English and drops it in Persian, and Persian is what the target audience reads.

  • Worse together with Exhibit 5A one working day cap means little beside a separate clause letting MetaGold hold the payment with no end date.
04

MetaGold warns that market conditions can leave you owing more than the balance in your account. It can then take the money from your account without asking, and ask you to pay in the rest.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You can finish a bad day owing MetaGold money you never deposited. No document promises negative balance protection, which is the rule that caps your loss at what you put in.

Exhibit 8CriticalHarder than usual

Furthermore, market conditions may result in losses exceeding the remaining balance in the Client’s Trading Account.
Clause 4 in Risk Disclosure Statement, p.1
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA, CySEC or under ESMA rules must give retail clients negative balance protection, so a loss can never exceed the money in the account. MetaGold's documents promise no such cap.

METAGOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 9A debt to MetaGold can also arrive through the gold loan, where a shortfall turns into cash owed in three business days.
05

MetaGold's regulation page says client money is kept apart from company money. The same page then says idle balances sit in MetaGold's own international bank accounts, and no legal document mentions segregation at all.

Why this matters

Money in a company's own bank account is the company's to lose if the company fails. The promise that protects you appears on a marketing page and in none of the 27 documents you actually agree to.

Exhibit 11CriticalHarder than usual

the Company reserves the right to withhold or seize any funds under its control belonging to the client
Clause Money laundering, 3 in Client Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA, CySEC or ASIC must hold client money in segregated client accounts at an approved bank, reconcile it and set the arrangement out in the client agreement. MetaGold's client agreement says nothing about segregation.

METAGOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

06

Your contract is with METAGOLD LLC in Georgia and/or METAGOLD LTD in the Comoros. Governing law is the country where the company is registered, and the contract never says which of the two companies is yours.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

To sue, you first have to work out who you contracted with and in which country. MetaGold's own regulation page says only the Comoros company holds a licence, while the Georgian company runs the website you deposit through.

Exhibit 10CriticalRarely seen2

1) METAGOLD LLC, a company duly incorporated in Georgia, authorized by the Ministry of Justice of Georgia with reference number 404651248, being a brokerage company, and/or
Clause Opening paragraph in Client Agreement, p.1
Read from the broker's site on Open the reference

Our readingMulti entity brokers normally allocate clients to one entity by country of residence and say so. Joining two companies with and/or leaves the counterparty undecided at the moment you need it named.

MetaGold's deadline for paying you depends on which language you read

Clause 3.7 caps a withdrawal at one working day in English, allows more than one working day in Persian, and MetaGold's website says two to three. A separate clause lets MetaGold delay any payment for sanctions or banking problems with no end date. Deposits are frozen for 72 hours, and requests are only processed inside an eight hour weekday window.

Exit conditions4 clauses flagged

MetaGold can delay your withdrawal until a banking problem, a payment network problem or a sanctions problem is resolved. Nothing says how long that may take, or what happens if it never resolves.

Why this matters

Sanctions are not a rare event for a broker running Rial deposits through Iranian banking. A clause written for an emergency can cover your account on an ordinary day, and it carries no deadline.

Exhibit 5CriticalHarder than usual

In exceptional circumstances, such as banking issues, sanctions, or disruptions in the payment network, the Company reserves the right to delay withdrawals until the obstacle is resolved and will notify the client via email.
Clause 6.5 in Transfer and Withdrawal Policy, p.4
Read from the broker's site on Open the reference

MetaGold lends against gold you buy through its own service. If the gold does not cover the loan, you must pay the rest in cash within three business days or face legal action.

Why this matters

A falling gold price turns a loan you never paid interest on into a cash demand with a three day clock. Miss it and MetaGold restricts the account, suspends services and goes to a lawyer.

Exhibit 9CriticalRarely seen3 working days

If the value of the held commodity collateral is not sufficient to fully settle the loan principal, the Client undertakes to settle the remaining debt within a maximum of three (3) business days through direct deposit.
Clause 11.3.1 in Comprehensive Trading Loan Policy Based on Commodities, p.6
Read from the broker's site on Open the reference

Buried at section 37 of 40 in the Comprehensive Trading Loan Policy Based on Commodities, 93% of the way through.

Our readingRetail brokers rarely lend against a commodity the client bought from the same broker, at a price the same broker sets. The collateral, the loan and the valuation all sit with MetaGold.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Balance falls to 5% of the loanMetaGold tells you the account is short.11.1.1
Within 48 hoursYou must fund the account with at least half the loan amount.11.1.1
Collateral soldMetaGold sells your held gold at that moment's market rate to clear the debt.11.2.3
Gold does not cover itYou pay the remaining debt in cash within three business days.11.3.1
You do not payMetaGold restricts the account, suspends services and pursues legal action.11.3.2

You can borrow up to 70% of your commodity's value, and the whole holding is then frozen. While the loan runs, none of it can be withdrawn, converted or transferred, and any withdrawal settles the loan.

Why this matters

The 30% you did not borrow against is locked with the rest. Taking any money out triggers settlement, so your gold is sold at that day's price whether you wanted that or not.

Exhibit 15WarningRarely seen70%

The maximum amount requested shall be up to 70% of the total current USD value of the asset(s).
Clause 4.2.2 in Comprehensive Trading Loan Policy Based on Commodities, p.3
Read from the broker's site on Open the reference

Where it sits: section 14 of 40 in the Comprehensive Trading Loan Policy Based on Commodities, 35% of the way through.

Our readingA margin lender normally holds collateral in proportion to the loan. Holding 100% against a 70% advance leaves the surplus locked up for nothing in return.

Money you deposit in ordinary currency cannot be withdrawn for up to 72 hours, which is three days. Withdrawal requests are only processed between 06:30 and 14:30 GMT, Monday to Friday.

Why this matters

Deposit on a Thursday evening and your money is locked past the weekend. Nothing at all is processed on Saturday, whatever the market is doing.

Exhibit 16WarningHarder than usual3 days

For fiat currencies deposits, withdrawals from the account will not be possible for up to 72 hours upon deposit.
Clause 5.6 in General Terms and Conditions, p.3
Read from the broker's site on Open the reference

Where it sits: section 6 of 20 in the General Terms and Conditions, 30% of the way through.

MetaGold can cancel the trade, seize the balance and calculate what you owe

MetaGold can cancel any trade it calls irrational, unusual or suspicious, and none of those three words is defined. If it decides your activity was unlawful it can seize the funds it holds and set the size of your liability itself. The risk disclosure warns that losses can exceed your balance, and no document promises negative balance protection.

Profit at risk2 clauses flagged

MetaGold can cancel any trade it decides is irrational, unusual or suspicious. The contract never defines those three words, and the decision is MetaGold's alone.

Why this matters

A profitable run can be undone after the fact because someone at MetaGold found it unusual. Arbitrage is named as a violation that leads to suspension and legal action.

Exhibit 6CriticalHarder than usual

In the event of detecting irrational, unusual, or suspicious trades, MetaGold reserves the right to cancel such trades at its sole discretion.
Clause 6.10 in General Terms and Conditions, p.4
Read from the broker's site on Open the reference

Where it sits: section 9 of 20 in the General Terms and Conditions, 45% of the way through.

If MetaGold decides your activity is unlawful, it can seize any of your money it holds. The loss you then owe is calculated by MetaGold, using its own figures.

Why this matters

One company acts as the accuser, the judge and the accountant. Your balance can be taken and the size of the claim against you is set by the party taking it.

Exhibit 7CriticalHarder than usual

In such case, the Company reserves the right to withhold or seize any funds under its control belonging to the client. The client shall be liable for any legal, reputational, or financial losses incurred by the Company as a result of such unlawful actions, as determined and calculated by the Company
Clause Money laundering, 3 in Client Agreement
Read from the broker's site on Open the reference

Every route to challenge MetaGold ends inside MetaGold

MetaGold will only handle your complaint in English, and you pay the translation cost even though it sold to you in Persian. The final appeal goes back to the same inbox that rejected you, and no independent body is named anywhere. If you complain in public, MetaGold reserves the right to disclose what it holds about you.

Access to justice4 clauses flagged

If MetaGold's answer to your complaint does not satisfy you, the policy tells you to email the same address again and ask for escalation. No outside body is named in any MetaGold document.

Why this matters

Your final appeal is read by the team that already turned you down. After 30 days the process is finished, and the contract leaves you a court in Georgia or the Comoros.

Exhibit 2CriticalHarder than usual30 days

If you are not satisfied with the response to your complaint, you have the option to escalate it further by contacting us through the same email address provided earlier and requesting for escalation.
Clause Further Escalation in Complaints Policy
Read from the broker's site on Open the reference
Our own capture of fxmetagold.com, taken on Sep 15, 2026The claim, on Persian regulation page, internal controls sectionVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

FCA firms must point clients to the Financial Ombudsman Service and CySEC firms to the Financial Ombudsman of Cyprus, both independent of the firm. MetaGold's escalation route is its own complaints inbox.

METAGOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 20Every appeal stays inside MetaGold, and taking the dispute public lets MetaGold disclose what it holds on you.

If you raise a complaint against MetaGold anywhere public, MetaGold reserves the right to disclose the information it holds about you to review the situation.

Why this matters

Posting on a review site or in a trading group can cost you your privacy. The clause sits in the confidentiality section, which is where you would look for the opposite promise.

Exhibit 13CriticalRarely seen

In the event of the client making a request against the Company via publicly available resources, the Company reserves the right to disclose obtained information about the client to fully and objectively review the situation
Clause Confidentiality, 4 in Client Agreement
Read from the broker's site on Open the reference

Our readingConfidentiality clauses normally carve out courts and regulators. A carve out triggered by the client speaking publicly turns the privacy promise into a deterrent against complaining.

Whatever MetaGold does wrong, its maximum liability is the charges, fees and commissions you paid it in the 12 months before the incident. Indirect losses are excluded entirely.

Why this matters

If a MetaGold error costs you $20,000, your claim is limited to the fees you happened to pay that year. On an account MetaGold describes as commission free, that number can be very small.

Exhibit 25WarningHarder than usual

The Company's maximum liability is limited to the total charges, fees or commissions generated for its services from the affected Client in the 12 months preceding the incident
Clause 6.3 in Transfer and Withdrawal Policy, p.4
Read from the broker's site on Open the reference

What it costsPay $300 in fees over a year and lose $20,000 through a MetaGold error, and the cap on your claim is $300.

If money leaves your account without your authority, you must tell MetaGold no later than one month after the debit date. Miss it and the right to have it corrected is gone.

Why this matters

A payment you never made has to be spotted and reported inside a month. The deadline runs from the debit date, not from the day you noticed it.

Exhibit 26WarningHarder than usual

A Client shall obtain rectification of an unauthorized or incorrectly executed withdrawal transfers from the trading account with the Company if a Client notifies the Company without undue delay on becoming aware of any such transaction giving rise to a claim, and no later than one months after the debit date.
Clause 6.1 in Transfer and Withdrawal Policy, p.4
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA that handle payments must give a customer at least 13 months to report an unauthorised transaction. MetaGold gives one month.

METAGOLD is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

MetaGold guarantees three things on its site that its documents do not

MetaGold guarantees full compensation for negative slippage, while its risk disclosure says a stop loss guarantees nothing of the sort. It promises support at any time, and its terms close support all day Saturday. It says client funds are kept separate from company funds, then says idle balances sit in MetaGold's own international bank accounts.

Promise against contract2 clauses flagged

MetaGold guarantees in English and Persian that any loss from negative slippage is fully compensated. The risk disclosure says the opposite: a stop loss does not guarantee your loss stops where you set it.

Why this matters

The guarantee that made you open the account appears on a marketing page and in none of the documents you sign. When the market gaps, the contract is the one that counts.

Exhibit 12CriticalHarder than usual

When placing limit orders such as stop-loss does not guarantee that losses will be limited to the specified amounts, as certain market conditions or some external factors may disrupt the execution of such orders.
Clause 9 in Risk Disclosure Statement, p.1
Read from the broker's site on Open the reference

MetaGold promises support at any time, anywhere, in English and in Persian. Its terms give support hours of 04:30 to 20:30 GMT on weekdays, closed all Saturday and starting at 16:30 GMT on Sunday.

Why this matters

Withdrawals over $100 need a support agent to act, and crypto markets trade on Saturday. The support you were promised is unavailable on the day nothing else is processed either.

Exhibit 27WarningHarder than usual

Saturday: Closed
Clause 14.3 in General Terms and Conditions, p.7
Read from the broker's site on Open the reference

Buried at section 20 of 20 in the General Terms and Conditions, 100% of the way through.

A 4% deposit fee lives outside the documents you sign

MetaGold charges 4% on instant Rial deposits, a number that appears on one Persian tutorial page and in none of its contracts. Its own deposit page says MetaGold charges no fee at all. The loan sold as free of interest and charges costs 0.5% converting in and 0.5% converting out.

Cost disclosure1 clause flagged

MetaGold's trading loan charges no interest and no fee. To get it you must first convert your dollars into gold or another commodity, and that conversion carries a 0.5% fee built into the rate.

Why this matters

You pay 0.5% going in and 0.5% coming out, on a loan sold as free. On $10,000 that is $100 in costs the loan policy says do not exist.

Exhibit 14WarningHarder than usual0.5%

The trading loan granted by MetaGold is free of any fees, interest, or service charges.
Clause 10.1.1 in Comprehensive Trading Loan Policy Based on Commodities, p.5
Read from the broker's site on Open the reference

Buried at section 27 of 40 in the Comprehensive Trading Loan Policy Based on Commodities, 68% of the way through.

What it costsConvert $10,000 into gold and the 0.5% spread costs $50. Settle the loan and convert back, and it costs $50 again.

The bonus disappears on any withdrawal, and similar trading can cancel it

Any withdrawal through MetaTrader removes the whole active bonus, even when you are taking out your own deposit. Trading that closely mirrors another client, in the same or the opposite direction, may be treated as abuse. MetaGold says it does not have to give you the reason for a suspension.

Bonus conditions2 clauses flagged

Your trading can be treated as a violation if it closely mirrors another client's trades, in the same or the opposite direction, within a short time. MetaGold does not have to tell you why it suspended a bonus.

Why this matters

Two traders following the same signal group can both be flagged. Trading the opposite way to someone else counts too, which is difficult to avoid on purpose.

Exhibit 21WarningHarder than usual

A client's trading volume may be considered a violation of general trading rules if it closely mirrors another client's trades in the same or opposite direction within a short timeframe.
Clause Trading Volume Requirements in Bonus and Promotion Terms
Read from the broker's site on Open the reference

Taking any money out through MetaTrader removes the active bonus in full, whether you withdraw profit or your own deposit. Profits already made with the bonus stay yours.

Why this matters

Withdrawing $50 of your own money can cost you the entire bonus balance. To activate a bonus at all you must ask an agent on WhatsApp or Telegram.

Exhibit 22WarningStandard wording

Any withdrawal (either of the principal or trading profits) made through Meta Trader will result in the complete removal of the active Bonus.
Clause 10.5.2 in General Terms and Conditions, p.6
Read from the broker's site on Open the reference

Buried at section 15 of 20 in the General Terms and Conditions, 75% of the way through.

One IP address, one account, and terms that change on upload

MetaGold allows one trading account per IP address and can close every account it links to a shared connection. Changes to the agreement take effect the moment MetaGold uploads them, and that upload counts as your acceptance. If the partner who introduced you breaches MetaGold's instructions, MetaGold can close your positions.

Account control3 clauses flagged

Only one trading account is allowed per IP address, and sharing a connection is banned. If MetaGold finds two, it can close every account involved at its own discretion.

Why this matters

Two people in one house share one connection. That alone is a breach, and the listed remedy includes closing all of the accounts, not just the newer one.

Exhibit 19WarningHarder than usual1

Opening and using more than one trading account with the same IP address at the same time is strictly prohibited. Each client may have only one trading account per unique IP address.
Clause Procedure of Opening of Trading Account, 1 in Client Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 21Two people on one connection break the IP rule, and their similar trades can then be called bonus abuse.

MetaGold can change the agreement whenever it decides to. Its only duty is to upload the new version, and that upload counts as your acceptance of the new rules.

Why this matters

You are bound by terms you were never sent. There is no notice period and no way to reject a change except closing the account.

Exhibit 20WarningHarder than usual

The only obligation of the Company will be to upload the updated documents, notices, policies and other documents on the Company’s website and inform of the changes. Simultaneous uploading to the site for the customer constitutes submission and acceptance of all new or amended rules of the agreements
Clause Financial Tools, 6 in Client Agreement
Read from the broker's site on Open the reference

If the partner who introduced you breaks MetaGold's instructions, MetaGold can close all or part of the positions of the clients that partner referred. MetaGold accepts no liability for losses caused by doing it.

Why this matters

Your trades can be closed for something a third party did, and you may never learn what it was. The partner agreement says MetaGold is not answerable for the losses that closure causes.

Exhibit 28WarningRarely seen

in case if the Company considers it reasonable, to close all or part of the Clients’ positions, referred by the Partner, if applicable. The Partner acknowledges and agrees that the Company shall not be liable for any losses or damages arising from such closure.
Clause 3.13 in Introducing Broker (IB) Agreement, p.3
Read from the broker's site on Open the reference

Our readingIntroducing broker agreements normally punish the partner by cutting commission. Extending the punishment to the referred client's open positions puts your money behind someone else's conduct.

Persian papers need a notarised English translation before MetaGold pays you

MetaGold requires a notarised English translation of any identity document not written in Latin characters, which for an Iranian client means all of them. Withdrawals over $100 also need identity verification plus a message to a personal agent on WhatsApp or Telegram. Biometric records are kept for at least 7 years after the account closes.

Verification3 clauses flagged

Any withdrawal over $100 is only processed after identity checks and after you notify your personal support agent on WhatsApp or Telegram.

Why this matters

Getting your own money out depends on one person answering a chat app. If that agent is unavailable, the contract gives you no other route and no deadline.

Exhibit 17WarningHarder than usual$100

Withdrawals exceeding USD 100 are only processed after final identity verification and notification to the personal support agent via WhatsApp or Telegram.
Clause 10.3.1 in General Terms and Conditions, p.6
Read from the broker's site on Open the reference

Buried at section 15 of 20 in the General Terms and Conditions, 75% of the way through.

Documents not written in Latin characters need a notarised English translation before MetaGold will verify you. For an Iranian client that means every identity document you own.

Why this matters

You pay a notary and a translator to open an account on a site that sold to you in Persian. Verification is also the gate on every withdrawal over $100.

Exhibit 18WarningHarder than usual

in case the documents are written in non-Latin characters: to avoid delays in the verification process, it is necessary to provide a notarized translation of the document in English
Clause Individual clients in AML / CTF Policy, p.2
Read from the broker's site on Open the reference

MetaGold collects your photo, video and voice as biometric data. Records are kept for at least 7 years after your account closes, and the privacy policy allows sharing personal data with marketing and advertising firms.

Why this matters

Closing the account does not end the storage. Your face and voice stay on file for years, and the list of third parties who may receive your data includes advertisers.

Exhibit 29NoticeHarder than usual

Those records are kept for a minimum of 7 years after the trading account is closed
Clause Registry maintenance in AML / CTF Policy, p.3
Read from the broker's site on Open the reference

Buried at section 17 of 22 in the AML / CTF Policy, 77% of the way through.

MetaGold's income is inside the price, and its server is the only price that counts

MetaGold adds a mark-up to the rates it takes from outside feeds and says that mark-up is its income, without naming a size anywhere. You must accept its quoted prices, and the risk disclosure says the prices on your own screen are not reliable. Its execution policy promises no order is rejected, then gives thirteen grounds for rejecting one.

Pricing and execution2 clauses flagged

MetaGold's execution policy says no order is rejected if you have margin, and that there are no requotes. The same document then lists thirteen grounds for refusing an order, the last being any other reason that may arise.

Why this matters

The promise and the exception live in one document, eight pages apart. The list that ends with any other reason is the one that governs when your order does not fill.

Exhibit 23WarningHarder than usual

No Orders are rejected, provided Client has sufficient margin in Client's trading account, and provided that the trade falls within certain requirements set when the Order request is submitted by Client.
Clause 3.4.1 c in Order Execution Policy
Read from the broker's site on Open the reference
  • Same clause as Exhibit 24The same policy that promises best execution also says MetaGold's income is a mark-up inside the price you get.

MetaGold adds a mark-up to the rates it takes from outside price feeds, and that mark-up is its income. You must accept MetaGold's quoted prices, and its own server is the only price treated as reliable.

Why this matters

The cost is inside the price, so you never see it charged. No document gives the size of the mark-up, and the prices on your own screen do not count as evidence.

Exhibit 24WarningHarder than usual

The Company adds a mark-up to the exchange rates from the third party reputable external resources (i.e. feed providers)
Clause 3.4.2 in Order Execution Policy
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose all costs and charges, including mark-ups built into a price, before a retail client trades. MetaGold names the mark-up but never its size.

METAGOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Iranian payment rails, Comoros licence, Georgian website operator

MetaGold settles ordinary currency withdrawals through PAYA, Iran's domestic transfer system, and runs a dedicated section for Iranian clients. The client agreement makes you responsible for all losses if you were not permitted to sign it. English governs the contract, and you agree you cannot object later on the grounds that you did not understand it.

Structure and reach2 clauses flagged

MetaGold settles ordinary currency withdrawals through PAYA, Iran's domestic transfer system, and runs a section of its site for Iranian clients. The client agreement makes you responsible for all losses if you were not allowed to sign it.

Why this matters

The contract assumes you checked whether you may legally trade here, and puts the cost of being wrong on you. Sanctions also appear as a reason MetaGold can hold your withdrawal with no deadline.

Exhibit 30WarningHarder than usual

Fiat currencies withdrawals are processed via the PAYA settlement system and by local banking regulations.
Clause 5.7 in General Terms and Conditions, p.3
Read from the broker's site on Open the reference

English is the governing language of your agreement, and you agree you cannot object later on the grounds that you did not understand it. The Persian download link for the partner agreement serves the English document.

Why this matters

You sign in Persian and argue in English. The clause closing off a language objection sits in the same document as the promise that translations are provided for your convenience.

Exhibit 31NoticeHarder than usual

After this Agreement execution, the client cannot object it based on cases such as not knowing or not understanding the terms and conditions of the Agreement (due to language proficiency or lack of legal information and other cases)
Clause Statements and warranties of the client, A.6 in Client Agreement
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page says MetaGold charges nothing while the contract says fees apply and never gives an amount.

Said in public, in Persian

کارمزد تراکنش‌ها مربوط به شبکه انتخابی است و متاگلد هیچ کارمزدی در این زمینه دریافت نمی‌کند.

Word for word in English: Transaction fees relate to the network you choose, and MetaGold does not charge any fee in this regard.

Persian deposit and withdrawal page, rules section

In the contract · clause 5.9

Withdrawal fees are determined based on your selected method and may vary depending on the network or banking system used.

02

The 4% appears in a Persian tutorial, while the payment policy that governs deposits never names any figure.

Said in public, in Persian

Online Payment Gateway (Instant): روش اول به صورت آنی و شامل 4% کارمزد هست.

Word for word in English: Online Payment Gateway (Instant): the first method is instant and includes a 4% fee.

Persian guide to depositing during internet restrictions

In the contract · clause 2.5

All costs related to depositing funds by the Client that can be charged by the payment providers will be borne by the Client.

03

The contract caps a withdrawal at one working day while MetaGold's own page says two to three.

Said in public, in Persian

2 الی 3 روز کاری

Word for word in English: 2 to 3 working days

Processing time for ordinary currency withdrawals

In the contract · clause 3.7

Withdrawal instructions execution time depends on the currency, payment method and time of instruction receipt, but shall not exceed one working day from the instruction receipt.

04

Segregation is promised on a marketing page and appears in none of the documents you agree to.

Said in public, in Persian

وجوه مشتریان در حساب‌های جداگانه از وجوه عملیاتی شرکت نگهداری می‌شود و برای هزینه‌های عملیاتی شرکت استفاده نمی‌گردد.

Word for word in English: Client funds are held in accounts separate from the company's operating funds and are not used for the company's operating expenses.

Persian regulation page, client fund segregation section

In the contract · clause Money laundering, 3

the Company reserves the right to withhold or seize any funds under its control belonging to the client

05

The same page that promises separation says idle client money sits in MetaGold's own bank accounts.

Said in public, in Persian

حسابهای راکد و بدون عملیات ترید، نزد چند حساب بانکی بین المللی متاگلد از جمله بانک TBC گرجستان و دیگر حسابهای کشورهای دیگر نگهداری می‌گردد.

Word for word in English: Dormant accounts with no trading activity are held in several of MetaGold's international bank accounts, including TBC Bank of Georgia and other accounts in other countries.

Persian regulation page, two lines below the segregation promise

In the contract · clause Money laundering, 3

the Company reserves the right to withhold or seize any funds under its control belonging to the client

06

Slippage is guaranteed as fully compensated on the site and expressly not guaranteed in the risk disclosure.

Said in public, in English

MetaGold guarantees that any loss caused by negative slippage during market volatility will be fully compensated.

Why MetaGold panel, point 5, shown site wide

In the contract · clause 9

When placing limit orders such as stop-loss does not guarantee that losses will be limited to the specified amounts, as certain market conditions or some external factors may disrupt the execution of such orders.

07

Support is sold as available at any time and the terms close it for all of Saturday.

Said in public, in English

Access the Support team anytime, anywhere. Our multilingual team is always just a click away.

Why MetaGold panel, point 2, Round-the-Clock Support

In the contract · clause 14.3

Saturday: Closed

08

A transparent complaints route is promised, and the only escalation named is back to the same inbox.

Said in public, in Persian

رسیدگی به شکایات: مسیر رسمی ثبت شکایت از طریق ایمیل Compliance@fxmetagold.com تعریف شده و فرآیند رسیدگی شفاف و زمان‌بندی پاسخ‌دهی مشخص است.

Word for word in English: Complaint handling: the official route for filing a complaint is defined through the email Compliance@fxmetagold.com, and the handling process is transparent with a defined response schedule.

Persian regulation page, internal controls section

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fxmetagold.com

In the contract · clause Further Escalation

If you are not satisfied with the response to your complaint, you have the option to escalate it further by contacting us through the same email address provided earlier and requesting for escalation.

The documents this reading is based on

27 files, all published by METAGOLD. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording METAGOLD publishes.

How this reading was done

Every clause above was read out of a document METAGOLD publishes itself

This reading was published on .

Documents
16 of 27downloaded from the broker's site, and 16 read in full
Pages opened
23pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
EN vs FAthe language it advertises in, against the language it contracts in
Position measured
10clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

METAGOLD LLC

Two companies sign the same contract. METAGOLD LLC is registered in Georgia through the Ministry of Justice register, number 404651248, and the risk warning on every page says this company runs fxmetagold.com. METAGOLD LTD is registered in Mwali, Comoros, number HT01025110, and MetaGold's regulation page says this is the company holding brokerage licence BFX2025136. The client agreement joins the two with the words and/or, so it never says which one is yours. The partner agreement names only METAGOLD LLC.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

MetaGold publishes more than most brokers at this level, and publishes it twice. Thirteen legal documents exist in both English and Persian, including a complaints policy and an order execution policy many competitors never write. The risk disclosure runs to 24 clauses and states plainly that losses can exceed your balance instead of hiding it. The complaints policy commits to an answer on admissibility in one business day and a final response in five. Transfers between your own MetaGold accounts are free under clause 3.15. We found no dormancy fee, no inactivity charge and no account deletion clause anywhere, which is unusual and in your favour.

In the Persian PDFs, the letters of each word come out reversed when the text is copied. We have written the Persian clauses out here as they read on screen, with an English rendering beside each one. The complaints policy and the order execution policy were not in the document list we started with. We found both on MetaGold's own terms pages and read the English versions in full. We did not read the Persian bonus terms or the Persian order execution policy. MetaGold publishes four policies as Word files, which download instead of opening in a browser. No earlier copy of any document was available, so nothing here rests on an archive. We did not check the Arabic pages.

How to check any of this yourself

Every quote above links to the METAGOLD file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document METAGOLD publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge METAGOLD on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 15, 2026.

If you represent METAGOLD and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on METAGOLD. Whether its licence is real and current is a separate check on the broker profile.

Back to the METAGOLD profile