GOFX Forex Broker

Gofx Forex Broker - Complete Information Guide

1. Broker Overview

　　Gofx, officially known as Gofx Limited, was established in 2020. The company is headquartered in Saint Vincent and the Grenadines, with operations also linked to the Seychelles Financial Services Authority (FSA). Gofx operates as a private entity, focusing primarily on retail forex trading and providing services to individual traders. Its target market includes a diverse clientele, particularly in Southeast Asia and regions where access to forex trading is expanding.

　　Since its inception, Gofx has aimed to provide a platform that caters to both novice and experienced traders. The broker has made significant strides in establishing itself within the competitive forex market, leveraging technology to enhance the trading experience. Over the years, Gofx has introduced various trading instruments and account types, contributing to its growth and reputation.

　　Gofx operates under the umbrella of Touchstone Markets Limited, which further strengthens its operational framework. The broker primarily functions as a retail forex and CFD provider, allowing clients to trade a variety of financial instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies.

2. Regulatory and Compliance Information

　　Gofx is regulated by the Seychelles Financial Services Authority (FSA), holding the license number SD118. The regulatory framework provided by the FSA allows Gofx to offer its services to a global audience. However, its essential to note that the FSA is considered an offshore regulatory body, which may not provide the same level of investor protection as top-tier authorities such as the FCA in the UK or ASIC in Australia.

　　The broker has implemented a Know Your Customer (KYC) policy to ensure compliance with anti-money laundering (AML) regulations. This includes verifying the identities of clients before they can engage in trading activities. Gofx also maintains a policy for the segregation of client funds, ensuring that traders' deposits are held separately from the companys operational funds. Furthermore, Gofx is a member of an investor compensation fund, which provides additional security for traders in the event of insolvency.

3. Trading Products and Services

　　Gofx offers a wide range of trading products, including over 1200 trading instruments across various asset classes. The broker provides access to:

• Forex: Gofx supports trading in more than 25 major and minor currency pairs, including popular pairs like EUR/USD and GBP/USD.
• CFDs: Clients can trade CFDs on commodities, stock indices, and cryptocurrencies. This includes precious metals like gold and silver, energy products such as oil and natural gas, and a selection of global stock indices.
• Special Products: Gofx also offers unique trading opportunities through CFDs on cryptocurrencies like Bitcoin and Ethereum, providing access to the rapidly evolving digital asset market.

　　The broker frequently updates its product offerings to align with market trends and client demand, ensuring that traders have access to a diverse range of instruments.

4. Trading Platforms and Technology

　　Gofx provides its clients with the MetaTrader 4 (MT4) trading platform, which is widely recognized for its robust features and user-friendly interface. The MT4 platform is available for various devices, including desktops and mobile devices (iOS and Android).

　　Additionally, Gofx does not currently offer a proprietary trading platform but has integrated MT4 to ensure a seamless trading experience. The broker supports automated trading through Expert Advisors (EAs) and offers a web-based trading platform for those who prefer not to download software.

　　The trading execution mode is primarily ECN, which allows for direct market access and competitive pricing. Gofx operates its servers in secure locations to enhance trading performance and reliability. Furthermore, the broker supports API access for automated trading solutions, catering to the needs of algorithmic traders.

5. Account Types and Trading Conditions

　　Gofx offers five distinct account types tailored to meet the needs of various traders:

• Go Mini Account: Minimum deposit of $1, with spreads starting from 1 pip and leverage up to 1:3000.
• Go Standard Account: Similar to the Mini account but with higher leverage options and spreads starting from 1 pip.
• Go Low Spread Account: Designed for scalpers, this account offers spreads starting from 0.6 pips and leverage up to 1:999.
• Go Pro Account: Aimed at professional traders, this account type has a minimum deposit of $1, spreads from 0.2 pips, and a commission of $3.50 per lot.
• Go Inter Account: Focused on institutional clients, this account requires a minimum deposit of $1 and offers raw spreads with leverage capped at 1:100.

　　All accounts allow for a minimum trade size of 0.01 lots, and Gofx also provides swap-free accounts for traders who require Islamic trading conditions.

6. Fund Management

　　Gofx supports several deposit methods, including bank transfers, credit/debit cards, and e-wallets. The minimum deposit requirement across all account types is $1, making it accessible for new traders.

　　Deposits are processed quickly, typically within a few hours, while withdrawals may take 1-2 business days to process. Gofx does not charge fees for deposits, but some withdrawal methods may incur small processing fees after the first withdrawal each month.

　　The broker emphasizes the importance of client fund security, ensuring that all funds are kept in segregated accounts to protect against operational risks.

7. Customer Support and Educational Resources

　　Gofx offers a variety of customer support channels, including:

• Live Chat: Available 24/7 for immediate assistance.
• Email Support: Responses typically within 24 hours.
• Phone Support: Toll-free numbers for major regions.
• Social Media: Active presence on platforms like Facebook and Twitter.

　　The broker provides educational resources through its Gofx Trading Academy, which includes video tutorials, webinars, and downloadable guides tailored to different trading levels. Gofx also offers market analysis services, including daily reports and economic calendars to keep traders informed.

8. Regional Coverage and Restrictions

　　Gofx primarily serves clients in Southeast Asia and regions where forex trading is gaining popularity. While the broker has established a presence in various markets, it does not accept clients from certain countries, including the USA, Canada, and several others due to regulatory restrictions.

　　The broker has localized its services to cater to the specific needs of its target markets, providing multilingual support and adapting its offerings to align with regional trading practices.

　　In conclusion, the Gofx broker presents a compelling option for traders seeking a diverse range of trading instruments and a user-friendly platform. However, potential clients should carefully consider the regulatory environment and the associated risks before engaging with the broker.