GO4REX Forex Broker
Basic Information
Seychelles
5-10 years Regulated in Seychelles Retail Forex License Suspicious Scope of Business High potential risk Offshore RegulatedCompany profile
Rating Index
Gold
VIP
Go4rex Forex Broker - Complete Information Guide
1. Broker Overview
Go4rex, officially known as FX Capital Ltd, was established in 2018. The brokerage is headquartered in Seychelles, specifically at Suite C, Orion Mall, Palm Street, Victoria, Mahe. As a private entity, Go4rex operates primarily in the retail forex market, catering to individual traders seeking diverse trading opportunities.
The company has developed a reputation for providing a wide range of trading services, including forex, commodities, indices, and cryptocurrencies. Over the years, Go4rex has focused on expanding its offerings and enhancing its trading platform to meet the needs of its clients. The firm aims to provide a user-friendly trading environment, ensuring that both novice and experienced traders can navigate the markets efficiently.
Go4rex operates under the regulatory framework of the Seychelles Financial Services Authority (FSA), holding license number SD 023. This enables the broker to offer its services legally while adhering to the local regulatory standards. The companys business model is primarily focused on retail forex trading, providing clients with access to various financial instruments and trading strategies.
2. Regulation and Compliance Information
Go4rex is regulated by the Seychelles Financial Services Authority (FSA), which oversees financial services in the region. The regulatory license number is SD 023. This license allows Go4rex to operate within the Seychelles jurisdiction, although it is important to note that the regulatory framework in Seychelles does not offer the same level of investor protection as more established jurisdictions like the UK or Australia.
The regulatory license is valid for the duration that the broker complies with the FSA's requirements, which include maintaining transparency and ethical conduct in its operations. Go4rex implements a Know Your Customer (KYC) policy to verify the identity of its clients and adheres to Anti-Money Laundering (AML) regulations to prevent illicit activities.
Client funds are kept in segregated accounts, ensuring that they are protected from the broker's operational funds. However, it is essential for clients to be aware that there is no investor compensation scheme in place, which is a common feature in more robust regulatory environments.
3. Trading Products and Services
Go4rex offers a diverse range of trading products, including:
- Forex Currency Pairs: The broker provides access to numerous forex pairs, including major, minor, and exotic currencies.
- CFD Products: Traders can engage in Contracts for Difference (CFDs) across various asset classes, including:
- Indices: Major global indices such as the S&P 500 and NASDAQ.
- Commodities: Trading options include gold, silver, oil, and agricultural products.
- Stocks: Access to shares of prominent companies is available.
- Cryptocurrencies: Go4rex supports trading in popular cryptocurrencies such as Bitcoin and Ethereum.
The broker continuously updates its product offerings to meet market demand, ensuring that traders have access to the latest financial instruments. Go4rex primarily serves retail clients, providing them with the tools and resources necessary for effective trading.
4. Trading Platforms and Technology
Go4rex offers a proprietary web-based trading platform that is designed for ease of use and accessibility. Additionally, the broker supports MetaTrader 4 (MT4), a widely recognized trading platform known for its advanced charting capabilities and automated trading features.
The web-based platform allows traders to access their accounts from any device with an internet connection, including desktops, tablets, and smartphones. The platform provides:
- Real-Time Data: Traders can access live market data and execute trades quickly.
- User-Friendly Interface: The intuitive design ensures that both new and experienced traders can navigate the platform with ease.
- Execution Modes: Go4rex employs a market-making model, which allows for immediate order execution.
API access is also available for traders interested in automated trading solutions, enabling them to integrate their trading strategies seamlessly.
5. Account Types and Trading Conditions
Go4rex offers several account types to cater to different trading needs, including:
- Basic Account: Requires a minimum deposit of $250, with standard spreads and no commission fees.
- Bronze Account: Requires a minimum deposit of $1,000, offering reduced commissions.
- Silver Account: Requires a minimum deposit of $2,500, providing further commission discounts.
- Gold Account: Requires a minimum deposit of $10,000, with additional trading benefits.
- Platinum Account: Requires a minimum deposit of $25,000, offering the lowest commission rates and highest leverage.
Leverage ratios vary by account type, with options ranging from 1:200 to 1:500. The minimum trade size is typically 0.01 lots, allowing for flexibility in trading strategies. Go4rex implements overnight fees, which are charged for positions held beyond the trading day.
6. Fund Management
Go4rex supports various deposit methods, including:
- Bank Transfers
- Credit/Debit Cards
- E-Wallets (such as Skrill and Neteller)
- Cryptocurrencies
The minimum deposit requirement varies by account type, starting from $250 for the basic account. Deposits are processed quickly, typically within 1-2 business days, while withdrawals may take 3-5 business days to complete.
Withdrawal methods include the same options as deposits, and fees may apply depending on the chosen method. For example, the first withdrawal for platinum account holders is free, while others may incur a 3.5% service fee.
7. Customer Support and Educational Resources
Go4rex provides customer support through multiple channels, including:
- Phone Support
- Contact Form on the Website
However, live chat support is not currently available, which may limit immediate assistance for traders. The support team is operational during business hours and covers various time zones.
The broker offers a range of educational resources to enhance traders' knowledge, including:
- Webinars
- Tutorials
- E-Books
- Market Analysis Services
These resources are designed to help traders make informed decisions and improve their trading skills.
8. Regional Coverage and Restrictions
Go4rex primarily serves clients in various regions worldwide, with a focus on retail traders. The broker has established a presence in multiple countries, providing localized support and services.
However, certain countries may face restrictions, and Go4rex does not accept clients from regions with stringent regulatory requirements. It is advisable for potential clients to verify their eligibility before opening an account.
In summary, Go4rex offers a comprehensive trading platform with a wide range of products and services, catering to the needs of retail traders. While it is regulated by the Seychelles FSA, potential clients should conduct thorough research and consider the associated risks when choosing to trade with this broker. The Go4rex broker aims to provide a reliable trading experience, but traders should remain vigilant and informed about their trading environment.
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Latest Reviews
FX3664682525
Mexico
I started investing with Go4rex in 2022 with the promise of an investment return plus earnings in a maximum of 6 months. To this day, I have not received my funds and require your help to resolve this situation.
Exposure
07-01
Olga Palacios
Colombia
I opened an account with Go4Rex in January 2021 and was assigned an advisor who continuously pushed for higher deposits, gave misleading investment advice, and manipulated my trading activity. Despite being a beginner, I was guided into high-risk positions and pressured to deposit funds under the pretext of recovering losses or unlocking bonuses. Repeated attempts to withdraw funds were met with conditions that required further deposits. When I refused, positions were closed without notice, bonuses were revoked, and communication became evasive. The final blow came when the platform was blocked, and all communication ceased. Go4Rex, operated by FX Capital Ltd in Seychelles, acted without regard for regulatory standards, interfered in my decision-making, and misled me repeatedly, causing a total loss of almost $60,000.
Exposure
06-01
FX3664682525
Mexico
I've been investing in Go4rex for 3 years, supposed to be for 6 months, I haven't recovered the invested capital, I need help to resolve this.
Exposure
07-03