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GOFX 2024 Review: Is It Reliable?

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GOFX Overviews


GOFX is a premier trading company known for its robust platforms and wide range of trading options. By offering a seamless experience for traders of all levels, GOFX has carved out its own niche in the financial world. This article covers it all, giving you an in-depth look into the world of GOFX.

GOFX 2024 Review: Is It Reliable?

GOFX is an online forex broker that has been operating since 2020, which is less than 5 years of operation. It is considered a new broker in the financial industry, but it seems to have quite a high competitive potential and is regulated by a reliable financial institution. With an attractive and interesting website and information on the website, as well as various offers, we will review GOFX for the various strengths of the broker further below.

Facts About GOFX
  • Online Forex Brokers
  • In operation since 2020
  • Controlled

Is GOFX Safe? Broker Regulations


GOFX is licensed by financial regulators, giving traders and investors confidence in its safety.

TouchStone Markets Limited, a subsidiary of GOFX Group, is a Securities Dealer registered in Seychelles with registration number 8426370-1 and duly authorised by the Financial Services Authority (FSA) with license number SD118 (check at https://fsaseychelles.sc/ ). The registered office of TouchStone Markets Limited is at Suite C, Orion Mall, Palm Street, Mahe Island, Seychelles.

GOFX GROUP and GOFX Online Trading Platform are operated by GOFX LIMITED, an international broker licensed for securities and CFDs by the Financial Conduct Authority on behalf of MWALI International Services Authority (Comoros) with license number T2023205, registered address PB 1257 Bonovo Road, Fomboni, Comoros, KM (check on the website MWALI INTERNATIONAL SERVICES AUTHORITY ).

Registered Address Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines
Physical Office Address: Office 1, Room 5, Second Floor, Olivier Maradan Building, Victoria, Mahé, Seychelles +971562382909
Physical address: Telepeniou 3A, Office No.002 2235, Latsia, Cyprus +357 22010591

  • Financial Services Authority (FSA) License Number SD118
  • Financial Regulatory Commission, on behalf of MWALI International Services Authority (Comoros), License No. T2023205.

What Can I Trade with GOFX?


GOFX offers trading in over 1,200 assets, including Forex, CFDs, Stocks, Indices, Energies, Precious Metals and Cryptocurrencies. Details of each asset can be found on the website.

Forex
Foreign Exchange Market or Forex is the exchange of foreign currencies and sets the exchange rate for all currencies. It is the largest financial market in the world and is widely popular among traders.
Stock CFDs
Share CFDs allow you to trade on the value of a company’s shares without actually owning the underlying shares. Selling shares in traditional stock trading is a relatively complicated process, but with CFDs you can sell easily because you can buy to take advantage of when the market moves down.
Index CFDs
An index is an important economic indicator that is calculated statistically to track changes in something that is being measured or to indicate interesting situations, such as manufacturing index, employment index, service sector index, etc. An index is considered a diversification for traders who focus on diversifying their investments.
CFDs on precious metals
Known as safe haven assets, these precious metals are instruments that are expected to maintain or increase in value during times of market volatility. For example, gold is considered a store of value because it has historically maintained its value over time.
Energy CFDs
The energy sector is highly volatile and is affected by a variety of political and environmental factors. This constant price movement makes energy an excellent instrument for day traders looking for fast-moving movements. By trading energy CFDs,
Cryptocurrency
Cryptocurrency is a digital asset designed to be a medium of exchange, an alternative form of money, and a virtual currency that is not controlled by a central authority and works through a blockchain system, which is a public transaction database.
  • Forex
  • CFD Stocks
  • CFD Index
  • Energy CFD
  • CFDs on precious metals
  • Cryptocurrency

How to Trade with GOFX?


GOFX offers the MetaTrader 4 (MT4) platform, the world’s leading trading platform used by traders worldwide to trade Forex and other financial instruments on the financial markets. With its unique features, MT4 is considered the standard online trading platform, providing an excellent trading experience. The advantage of MetaTrader 4 (MT4) is that you can trade on MetaTrader without requoting or distorting orders, with a wide range of leverage and support for multiple platforms. You can download MetaTrader4 (MT4) from the GOFX website, choosing the platform you want to use for Windows, iOS and Android.

Although MetaTrader 4 (MT4) has the advantage of being universal and standardized, it is still quite limited for brokers in terms of platform choice. For some traders, more than one platform is available.

How Can I Open GOFX Account? A Simple Tutorial


The method of opening an account with GOFX is no different from other brokers. Start by going to the official website of the broker, click on the Register button on the top right corner of the website, which will take you to the registration page, and click on Register again.

Then fill in your personal information in the fields as shown in the image.

  • name
  • surname
  • Email
  • Country of residence
  • telephone number

Then press Next to complete the registration process.

To fully open an account, the broker will ask you to verify your identity, where you will need to submit KYC documents and wait for the verification results to deposit funds and start trading.

  • Go to the official website
  • Click Apply for membership
  • Fill in personal information: First name, Last name, Email, Country of residence, Phone number.
  • Verify identity
  • Make a deposit
  • Start trading

GOFX Charts and Analysis


In terms of resources for learning about trading, GOFX can be said to have quite a lot to offer. If you look at the knowledge base in the top bar of the website, there are analysis, articles, and also a seminars tab, which we will discuss together in the knowledge resources. Some topics have separate information, which makes it easy for investors and new traders to find information about trading.

The analysis is divided into each topic as follows:

Global Economic News

Collect all the economic news around the world so that investors can follow the news closely.

Gold price today

It is a daily gold price report, suitable for traders who like to trade gold or precious metals.

Daily economic figures announcement report

Daily economic figures report so you don’t miss any important information.

Daily analysis

It is an analysis of news that affects gold on a daily basis.

Economic calendar

Updates to the important global economic calendar on a weekly basis to see the overall movement.

The article also has several sub-topics, including:

Popular articles GOFX

This article will cover general knowledge about Forex such as market opening and closing times, things you need to know about Forex.

Fundamentals of technical analysis

In this section is an analysis using various tools and indicators to learn technical trading.

Cryptocurrency Coin Index

This section will provide you with information about cryptocurrency.

Another essential part is the seminars that provide knowledge on trading, investing, generating income, and automatic trading. The seminars are organized continuously.

There is also a GOTA investment training institute for those interested in learning for free.

Overall, the knowledge base of this broker is quite diverse, which is an advantage for traders to do more research to improve their trading efficiency.

GOFX Account Types


Trading account is another factor that affects choosing a broker because each account type has a different format according to the trader’s style. GOFX has 5 types of accounts: GO MINI account, GO STANDARD account, GO LOW Spread account, GO PRO account, GO INTER account.

GO MINI ACCOUNT

Trading account for beginners Low risk, high profits Starting deposit $ 1 Minimum spread 1 Pip Order volume 0.01 – 100 Lot Leverage 1 : 500

GO STANDARD ACCOUNT

Standard trading account with the best trading conditions for you. Minimum deposit $ 1. Minimum spread 1 Pip. Order volume 0.01 – 50 Lot. Leverage 1 : 3000.

GO LOW Spread Account

Low cost trading account for traders who like short-term speculation. Minimum deposit $ 1, minimum spread 0.6 Pips, order volume 0.01 – 50 Lots, leverage 1: 1000

GO PRO Account

Professional trading account Fastest order execution with ECN technology Minimum deposit $ 1 Minimum spread 0.2 Pips Order volume 0.01 – 50 Lot Leverage 1 : 100 Starting commission $ 3.5 / Lot

GO INTER account

Open global investment for traders interested in trading foreign stocks. Minimum deposit $ 1. Spread based on market. Order volume starts at 1 Lot. Leverage 1: 100.

Do I Have Negative Balance Protection with This Broker?


The importance of brokers in having a negative balance protection policy is an important factor for traders. For GOFX, we have asked the support team, who stated that in the event that a customer trades in the wrong direction until the balance is negative, the system will automatically rebalance after the customer refreshes the website, meaning that the broker has a protection policy.

GOFX Deposits and Withdrawals


GOFX deposit and withdrawal methods can be done via FundPay, which can be done via the website . Customers can view the steps on how to deposit and how to withdraw money in the help section.

There are 2 ways to deposit money via FundPay: deposit in the form of QR Payment and Mobile Banking as shown in the image below.

Withdrawals via FundPay have the following withdrawal methods:

1. You can make a withdrawal after successfully completing “Verify Phone Number” and “Verify Identity (e-KYC)”.
2. You need to “Upload your Bookbank Document” for your receiving account and for your investment security.

As shown in the picture below

Support Service for Customer


In terms of help, GOFX has several customer support systems and interestingly, there are articles about guides and how to use them, from how to register, how to open a real account and demo account, how to deposit and withdraw, how to verify your identity & upload documents, Bookbank, using MT4, using Copy Trade, not to mention social media that has all channels, including Facebook, Line, IG, Twitter. There is also a 24-hour live chat. You can check the Help on the website or ask for more information at Line Official: @GOFX

Prohibited Countries: Where Can I Not Trade with this Broker?


GOFX does not provide services to residents of the United States, Mauritius, Japan, Canada, Haiti, Suriname, Democratic Republic of Korea, Puerto Rico, Brazil, territories of Cyprus, and Hong Kong. Below is the information that the broker lists its website restrictions.

GOFX LIMITED and TouchStone Markets Limited do not direct the Website and Services to persons in any country where use of the Website and Services would be contrary to local law or regulation. When accessing this Website from a country where access to this Website is prohibited or not, it is the user’s responsibility to ensure that the use of the Website or Services complies with local laws or regulations. GOFX LIMITED and TouchStone Markets Limited make no representation that the information on this Website is appropriate for all legal jurisdictions.

Special Offers for Customers


In terms of promotions and special offers, GOFX is quite generous and will appeal to traders looking for a good deal when opening an account, as the broker has many campaigns, and each offer is interesting, such as GO SWAP-FREE, NON-FARM PAYROLLS DAY, GO New Customer, Loyalty Bonus Program, GO Birthday, GOFX DOUBLE BONUS, as well as other promotions that have already passed, which we will not mention much about.

GO New Customer

GO New Customer is a promotion for new account opening customers and first deposit. By depositing a minimum of 200 USD, receive 100 USD for free and join the Free Signal group by following the conditions set by the broker. For new customers, it is quite interesting.

GO SWAP-FREE

GO SWAP-FREE is a promotion for customers who do not want to pay swap fees. It is suitable for traders who like to open positions overnight because the swap fee is a fee for holding positions overnight, which comes from the difference in interest rates of the central banks in the country that owns the currency we will trade. It can have both + and – values, with a minimum deposit of 1,000 USD and can be used with Standard and Low-Spread accounts.

GO Birthday

GO Birthday is a special promotion for Standard account customers, where those born in that month will receive a free 100 USD bonus credit and 200 Go Points to redeem for prizes in the Loyalty Program, with a minimum deposit of 555 USD.

GOFX DOUBLE BONUS

GOFX DOUBLE BONUS Clients can choose to open this promotional account to receive a 2-tier deposit bonus, up to $5,000. The first deposit bonus is 50% up to $500, the second is 20% up to $4,500. That is, when you make your first deposit, you will receive an additional 50% bonus, and when you make your second deposit or more, you will receive an additional 20% bonus, up to a maximum of $4,500. You can see more details here.

Loyalty Bonus Program

Loyalty Bonus Program is a point accumulation program that can be exchanged for rewards. Every trade will receive Go Points immediately and will be leveled up based on the points accumulation, which will be calculated from the trading volume and the loyalty status of the trader.

NON-FARM PAYROLLS DAY

NON-FARM PAYROLLS DAY is a promotion that offers a 30% credit bonus every first week of the month. This is a special promotion to welcome NON-FARM PAYROLLS Day. You can receive a credit bonus of up to 100 USD for GO-STANDARD accounts only. Just deposit a minimum of 5 USD.

There are also other offers such as GOFX Trade World Cup and Surprise Trade, which have already ended their campaigns, but they are still available. You can check out more offers here.

You can see that this broker focuses on marketing to attract customers because promotions play an important role in influencing customers’ decisions, which this broker is considered to do quite well.

GOFX Review Conclusion


GOFX is a regulated forex broker that offers trading in over 1,200+ assets, a wide range of account types to suit clients’ needs, and a unique website with an engaging and informative website. It also offers a variety of promotions and special offers, educational articles, and an investment school. Although there is only one platform available at the moment, it is compatible with all devices, making this broker quite unique and reliable.

Summary and Key Takeaways


GOFX is an online forex broker that offers trading in a variety of assets. It has a standard and popular trading platform, a variety of accounts suitable for both beginners and experienced traders, and offers many attractive promotions for traders.

  • Forex CFD Brokers
  • Controlled
  • There are 5 types of accounts.
  • MT4 platform
  • There are institutions that teach investment for free.
  • There are many promotions.

FAQs


Is GOFX a good broker?

GOFX is a new broker, but it is considered a good broker to watch because it is regulated by a reputable financial authority and provides relatively open information.

Does GOFX have a Copy Trade system?

GOFX has a Copy Trade system, which you can see how to use in the help article.

Is GOFX suitable for beginners?

GOFX is suitable for beginners for many reasons, including standard trading software like MT4, a wide range of educational materials including trading academies, and account types to suit every need.

About Author


cropped-Naree-Suriyawan

Naree Suriyawan

Naree Suriyawan, a native of Bangkok, Thailand, embarked on her educational journey at Chulalongkorn University, earning her Bachelor's degree in Business Administration. She continued her pursuit of knowledge by completing a Master's degree in International Finance at Thammasat University. Naree's professional career began at Bangkok Financial Group, where she delved into the intricacies of finance, gaining valuable experience in risk management and investment analysis. She later moved on to work with top-tier Thai corporations, including Siam Investment Consortium, specializing in market research and international business development. With a wealth of experience in the Thai business world, Naree now shares her knowledge and ...

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GOFX 2024 Review: Is It Reliable?
GOFX 2024 Review: Is It Reliable?
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