Is GoTechFx a scam or legit broker?

No, it is not safe to trade with GoTechFx. TurboForex is owned by Go T Limited, which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as TurboForex, Swissinv24 and more.

According to the website, GoTechFx is a forex broker, dedicated to providing its clients with tailor-made trading solutions, including Metatrader 4, regardless of prior knowledge or experience. The company provides a contact phone number with British code, which should make traders think the broker has something to do with the UK and maybe regulation there. However, GoTechFx is not authorized in the UK or in any other country.

In fact, the broker has recently been blacklisted by Austrian Financial Market Authority:

“Go T limited (GoTechFx) is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.”

We advise all investors and traders to avoid GoTechFx and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and Plus500.

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One response to “GoTechFx”

  1. Comment AreaSono cascata su gotechfx e sono rimasta solennemente fregata!!!!! avessi letto prima i vostri consigli…..mi hanno sperperato tutti i soldi in poco tempo con acquisti e vendite assurde e senza senso

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