GOFX Review 2025
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Updated:
Reason to avoid: Offshore
Listed Date: December 22, 2023
Top 3 Forex Brokers
Beware GOFX is a Non-Regulated Broker. It is NOT SAFE to trade
Advertising Disclosure
Updated:
Reason to avoid: Offshore
Listed Date: December 22, 2023
Beware GOFX is a Non-Regulated Broker. It is NOT SAFE to trade
GOFX cannot be regarded as a reliable option for engaging in Forex trading. The company is registered in St. Vincent and the Grenadines (25865BC2020) and holds a license issued by the Seychelles Financial Services Authority (FSA).
🏢 Registered in | Seychelles Financial Services Authority |
🗺️ Type of License | Offshore |
🛡️ Is GOFX safe to trade? | No |
🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Established in 2020, GOFX offers trading in six different asset classes: forex CFDs, precious metal CFDs, stock CFDs, energy CFDs, index CFDs and cryptocurrencies. The company provides multiple account options, access to the market's popular investment platform (MT4), high leverage rates, etc.
Upon further research, we revealed more information about GOFX and estimated its level of security. Here are important points we were able to find:
Drawing upon a decade of experience in the Forex trading industry, our research has uncovered substantial concerns regarding the reliability and adherence to regulatory standards of GOFX. Consequently, we are unable to give GOFX a favorable ranking.
Ranking | GOFX | Trading 212 | BlackBull Markets |
---|---|---|---|
Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Education | Trading Conditions |
Given the safety concerns associated with GOFX, we strongly advise considering alternative options that offer more rigorous regulations and enhanced trading conditions. Below, we have assembled a list of reputable brokers with secure trading environments for your consideration:
There is not much information about GOFX withdrawals and deposit terms. The broker offers limited funding methods, including Bank Transfers, Debit and Credit cards, and Skrill.
GOFX provides a selection of five distinct account options: GO Mini, GO Standard, GO Low-Spread, GO Pro, and GO Inter. Each account type requires a minimum deposit of $1.
Based on the information we've collected about GOFX, there are significant concerns regarding the broker's trustworthiness and credibility. Even though the broker offers attractive features and services, its registration in an offshore jurisdiction raises substantial doubts, and traders should exercise caution when dealing with it.
We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also aligned with top-tier regulations which is considered a safe choice to trade, including FP Markets, HFM, or FXGT.
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