GoTechFx Review Is Gotechfx.com Scam or Legit Broker

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GoTechFx Review: Is Gotechfx.com Scam or Legit Broker?

GoTechFX Review: Scam or Legit Broker? gotechfx.com is a forex and cfd broker that offers trading in a huge range of assets spanning commodities, indices, stocks, currency pairs and cryptocurrencies. They have their address at trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Islands MH 96960 and they are owned and operated by Go T limited, with the following registration number- 97891,

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GOTECHFX TRADING PLATFORM

This broker uses Metatrader4 platform and a web based platform.

DEPOSIT AND WITHDRAWAL METHODS

We were unable to discover the payment methods accepted by this broker but we believe it accepts major cards like Master Card and standard Visa. The minimum withdrawal deposit is $250.

Is GOTECHFX LICENSED?

NO! GotechFx broker is not licensed, though they claim so. The truth is that no regulatory body is acting as a watchdog overseeing that they comply with best practices in the financial market.

SUPPORT

This broker offers support to its traders, they could be reached through phone calls or emails, whichever you prefer.

CONCLUSION

GoTechFx is an unregulated broker, this is a source of major concern. We are convinced that gotechfx.com is run by a bunch of scammers, this is why they are anonymous and also don’t accept payment in Skrill. The way these scammers work is simple- First, they make Marshall Island their location because it is very liberal laws regarding the registering of companies.After sharing your personal information, you will begin receiving calls from brokers, compelling you to invest with them and win big. After hearing their sale pitches, you become convinced to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit. That is not how to become a broker. Not how real brokers work.

When trading forex, cfd and cryptocurrency we always recommend you use a regulated broker that is licensed to trade financial instruments.

COMPARE WITH A TRUSTED BROKER

eTORO

ETORO has registered addresses in London United Kingdom, Tel Aviv, Limassol, Australia and USA. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. eTORO has the best social trading platform in the forex industry where you could copy the trades of successful traders. You could also earn additionally if your trades are copied. ETORO is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, NBRB in Belarus and ASIC in Australia, which makes client funds safe. They accept traders worldwide.. visit their official website

GoTechFx Review

GoTechFx

Reason to avoid: Offshore license

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Listed Date: June 18, 2020

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Beware GoTechFx is a Non-Regulated broker. It is NOT SAFE to trade.

  • Our Review
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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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