GoTechFx Review

Is GoTechFx Scam or Legit Broker?

No, it is not safe to trade with GoTechFx. GoTechFx is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority and is located in the Marshall Islands. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

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

What is GoTechFx?

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 a British code, which should make traders think the broker has something to do with the UK and maybe regulations 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."

GoTechFx Review Conclusion

We advise all investors and traders to avoid GoTechFx and other brokers from the Marshall Islands. It is not safe to sign with unregulated or offshore brokers, as often such brokers turn out to be scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets.

GoTechFx Update

Our research revealed that the GoTechFx website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.