Gold Fund Dealer, working beneath the registered identify GFund
Applied sciences within the UAE, has introduced its everlasting closure. The agency, which
commenced operations 5 months in the past, encountered a number of challenges resulting in
this choice.
Launch Delays Immediate Investor Withdrawal
The corporate initially deliberate to launch on August 15.
Nonetheless, the launch was delayed resulting from points with their net designer, and
issues with their expertise supplier. These delays resulted within the
withdrawal of a serious investor.
Regardless of these setbacks, Gold Fund Dealer proceeded with the
launch. The agency distributed roughly 150 accounts by way of giveaways however
has since generated solely $600 in gross sales from analysis accounts.
Whats up everybody,It is a very robust dialog to have. We been working in goldfundtrader for five months now ! UPS and down ! We now have a number of expertise earlier than with this business !Massive investor was prepared to supply funding of 250k usd for 50% of stake in gold fund…
— Gold Fund Dealer (@goldfundtrader) September 12, 2024
Money Circulate Points Power Closure
Of the 160 accounts created, 158 had been acquired by way of
giveaways. The agency studies 90 lively accounts with no funded accounts or
pending payouts. The full lively analysis dimension is beneath $1 million.
Resulting from money circulation points and a scarcity of liquidity, the agency
has determined to stop operations. The founders said that they selected to not
interact in unethical practices to keep up the enterprise. Gold Fund Dealer has
explored potential acquisition presents from different proprietary buying and selling companies however
didn’t safe any agreements.
This text was written by Tareq Sikder at www.financemagnates.com.
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