GoDoFX Review: Is Godofx.com Legit or Not?

GoDoFX Review
  • Contact Details
  • Regulation
0.5

Summary

GoDoFX is not on the list of legal companies in Mauritius. After checking in Financial Service Commission database, we found them missing in the database. The regulators play a big role in protecting the investment of traders. Avoid this offshore firm.

GoDoFX is a dirty venture that is operating as it, please. Their name is intriguing and memorable, but we assure you that nothing is awaiting you in this broker. Once they are done defrauding investors, the scheme will exit the market. 

GoDoFX Review, GoDoFX Company

The broker claims that it is exceptional and unlike their competitors. The company is built on trust. Their main focus is the success of traders. You can try out their demo account to acquaint yourself with the trading activities. 

GoDoFX offer forex, metals, oil, indices, US, and EU stocks. Other countries’ stocks are also available. The venture has over 50 trading pairs. Their spread is zero pips. Forex is the main asset of the scheme. 

The firm hav over 10 accounts available for traders. They guarantee that the trading conditions are also desirable. There is no need to panic for those unfamiliar with trading, as the platform assures. It wil hold your hand. 

The reputation of this venture is pathetic. Therefore, you should not believe that they have the best interest. The company is not licensed; it is collecting money from traders without minding the law. 

GoDoFX.com Review

GoDoFX features a license of GOO LTD. Kindly note that these two enterprises are completely different. The entity does not have a parent company. It is a clone firm that is unregulated.

The actual locale of the broker is infamous for all the wrong reasons. Faking their regulatory status is a serious offense. Who knows what the scheme is hiding. You must know the skills and educational background of the individuals handling your funds. 

However, GoDoFX does not see the need to crediting its team. The entity is anonymous, and this is a loophole. The suspicious venture also leaves out their banking information. We suspect that funds are not segregate in top tier 1 banks.

The company registration that took place in May 2020  them not being exposed for a long time may be why the venture decided to come back online. The domain name expires in May 2022.

Trade with the best forex trading brokers that are trustworthy. The company’s main goal is the success of its customers. There is a mutual agreement between both parties. 

Trading Conditions

The venture advertises a spread of 1.2 pips and a leverage of 1:100. They allow hedging, and there is no commission. The company has an MT4, and client can use their phone to trade. The fact that the firm has a MetaTrader should not be enough reason to deposit funds. Their reputation is at stake.

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GoDoFX has a bonus account, but it is best to stay away from these lucrative. The requirements that you have to meet are undesirable. The venture is also targetting Muslims in UAE.

GoDoFX.com Review, GoDoFX.com Trading Conditions

You must trade a minimum lot of 20 to be able to cash out $100. It means that you must trade $2 million for you to cash out as each lot equates to 100,000 units. The company does not intend on releasing your money.

Avoid lucrative offers like these. The financial bodies do not allow investment schemes to have such offers. The venture is using the bonus to trap more victims in their website.

Withdrawal and Deposit

The minimum amount that you can deposit at GoDoFX is $100. The payment can be made via Skrill, MasterCard, Visa, Neteller, or SBI. Despite stating there are no commissions, GoDoFX subjects investors to a commission of 10 EUR if they cash out anything less than 20 EUR. It also applies to bank withdrawal.

The wire transfers have a commission of 100 EUR, and it could be less. They fail to feature the withdrawal requirements. You can lose a lot of money in the name of charges. The broker is unreliable, and you can expect anything.

GoDoFX Contact Detail

You can reach the broker via email or phone. They have two office addresses, one in Dubai and the other one in Mauritius. Unfortunately, scammers are not unwise to expose their shady area of operation. 

The material that the venture avails show this is a St Vincent and the Grenadines broker. Most of the platforms found here do not survive long in the market. Watch out for your funds. 

This is an offshore platform that is targeting citizens of these countries. It will help if you exercise caution. Do not be deceived by the false info that GoDoFX is using to get the attention of traders.

The company wil stop picking up your calls when times get hard. The venture is also capable of shutting its system down. This being said, find a regulated firm that has high-security protocol and efficient support.

Regulation Status of GoDoFX 

The venture requires investors to adhere to the rules of their regulatory body. Therefore,  they should confirm whether the agencies permit them to invest with GoDoFX. This is a shady requirement. This is because the broker should adhere to the rules of financial watchdogs in every country it accepts traders. 

The scheme must also deposit a handsome amount of funds in their name as working capital. The firm must also report its daily activities to the agency. It helps in ensuring funds are not misused.

Moreover, GoDoFX is not on the list of legal companies in Mauritius. After checking in Financial Service Commission database, we found them missing in the database. The regulators play a big role in protecting the investment of traders.

One wrong move could lead to you losing all your money. Stick to legit ventures grants you fund safety. In case of insolvency, you can get compensation. There is also negative balance protection.

GoDoFX Client Feedback

GoDoFX has positive review in TrustPilot. We do not regard the statements left behind. This is because the reviewers are anonymous. There is also no proof of payment. Finally, the monitor of this website is not strict. Even people that have not used products or services can fake their experience. 

The information suggests that the entity has desirable trading conditions. Sadly, the data that we have gathered proves that the venture has no intention of realizing clients’ funds. They also praise the speed of executing the trade. 

The MT4 is the best software, but the safety of your funds should come first. The team is also professional, and customers can contact the scheme in case of any issue. Shady companies have proven over the past that their clients’ needs are not their worry. They may never respond.

GoDoFX also processes withdrawals instantly. A desperate situation calls for tough measures. Scammers are focused on getting their money from victims. They even end up featuring false testimonials and advertising heavily on social media. 

Final Verdict

GoDoFX is a bogus company. They are claiming to be regulated, but after checking them out, the firm is lying. The venture location is an offshore area. Therefore, their timeline in the market may be short.

The trading conditions are also unrealistic. Issue a chargeback using a Credit or Debit card. The venture will only leave you high and dry. The sham firm does not have a trading history. 

Here is a list of famous forex trading brokers. These are companies with the best leverage and spread for investors. They also do not push investors to risky measures that can lead to high losses.

 

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