GoFX

Disclaimer:The information provided on this site should not be distributed or used by any individual in any country or jurisdiction where such distribution would violate local laws or regulations.

Leverage 1:500
Minimum Deposit $50
Regulation ASIC, IFSC
Year Established 2017
Payment Methods Bank Transfer, Credit/Debit Cards, Skrill, Neteller, Bitcoin
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
MT4
MT5
Spreads Very Low
Average cost: EUR/USD 0.3 pips
Demo Account
Islamic Account
CopyTrading
ZuluTrade
Scalping Yes
Signals
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +44 123 4567
Address 45 Fitzroy St, London, W1T 6EB, United Kingdom
Rating ★★★★☆ 4.3
Website

Alternative Brokers

Article Content

Pros and Cons

Pros
  • High leverage options
  • Low minimum deposit
  • Extensive range of assets
  • Multiple trading platforms available
  • Very low spreads
Cons
  • Limited educational resources
  • No support for ZuluTrade
  • Regulation could be stronger
  • Customer support response times
  • No guaranteed stop-loss

Comprehensive Review of GoFX: A New Player in the Online Trading World

GoFX is a relatively new entrant to the online trading scene, established in 2017.

Despite its brief history, it has quickly garnered attention from traders worldwide, thanks to its competitive offerings and commitment to providing a robust trading environment.

As a broker, the firm caters to a diverse range of users, from beginners taking their first steps in the financial markets to seasoned professionals looking for advanced tools and features.

This comprehensive review delves into all aspects of its services, from account types and regulatory status to trading platforms, fees, and customer support.

The aim is to provide a detailed and informative resource for those considering GoFX as their trading partner, whether they are just starting or looking to switch brokers.

Create a Free Account

Background and Regulatory Overview

Company Overview

GoFX was founded in 2017, with its headquarters based in London, United Kingdom.

The company has quickly expanded its reach, offering services to traders around the globe.

The firm’s mission is to provide a user-friendly, efficient, and technologically advanced trading environment that can cater to the needs of both novices and experts.

Its growth and popularity can be attributed to its commitment to offering competitive trading conditions, a wide range of financial instruments, and high-quality customer service.

GoFX aims to differentiate itself in a crowded market by providing a blend of cutting-edge technology, reliable customer support, and educational resources, though the latter could benefit from expansion.

Regulatory Status

When evaluating a broker, regulatory oversight is one of the most critical factors to consider.

It ensures that the company operates within a framework designed to protect clients’ interests, offering a level of security and trustworthiness.

GoFX is regulated by two entities:

  • ASIC (Australian Securities and Investments Commission): ASIC is known for its stringent regulatory standards, ensuring that brokers under its jurisdiction adhere to rigorous financial and operational requirements. This includes maintaining segregated accounts, providing regular financial reporting, and ensuring transparency in operations.
  • IFSC (International Financial Services Commission): Based in Belize, the IFSC offers a lower level of regulatory oversight compared to ASIC. However, it still imposes requirements on firms to maintain funds in segregated accounts and to operate transparently and fairly.

The dual regulation by ASIC and IFSC gives the company a solid regulatory foundation, although some traders might prefer companies with oversight from more robust regulators like the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC).

The presence of ASIC regulation, however, does add a significant layer of credibility, making this broker a reliable option.

Account Types

GoFX offers 4 account types designed to cater to different trading needs and levels of experience.

Understanding the features and benefits of each account type is crucial for selecting the one that best suits your trading strategy and goals.

Standard Account

The Standard Account is tailored for beginners or those who prefer to trade with lower capital.

It is the most accessible account type offered, with a minimum deposit requirement of just $50.

This account provides access to all the trading instruments and offers competitive spreads starting from as low as 0.3 pips on major currency pairs.

Key Features:

  • Leverage: Up to 1:500
  • Spreads: Variable, starting from 0.3 pips
  • Commission: None
  • Trading Platforms: MT4, MT5
  • Minimum Deposit: $50

The Standard Account is designed for those who are just starting in trading and want to gain experience without risking significant amounts of capital.

The absence of commission fees and the relatively low minimum deposit make this account type particularly attractive to beginners.

However, it is important to understand that higher leverage, while offering the potential for greater returns, also comes with increased risk.

Professional Account

The Professional Account is geared toward more experienced users who require tighter spreads and are willing to trade in larger volumes.

This account type requires a minimum deposit of $1,000, reflecting its target market of seasoned traders.

Key Features:

  • Leverage: Up to 1:500
  • Spreads: Variable, starting from 0.1 pips
  • Commission: Yes, depending on the instrument traded
  • Trading Platforms: MT4, MT5
  • Minimum Deposit: $1,000

The Professional Account offers some of the tightest spreads available, with the possibility of spreads starting from 0.1 pips.

While this account does charge commissions on trades, the lower spreads can often offset these costs, particularly for high-frequency traders who execute large volumes of trades.

This account is ideal for customers who are more comfortable with the risks associated with high leverage and who require access to advanced trading tools.

Islamic Account

GoFX also offers an Islamic Account, which is designed to comply with Sharia law by eliminating swap fees.

This account is available for both Standard and Professional account holders, allowing everybody to benefit from the same trading conditions without incurring interest charges on overnight positions.

Key Features:

  • Leverage: Up to 1:500
  • Spreads: Same as the selected account type
  • Commission: Same as the selected account type
  • Trading Platforms: MT4, MT5
  • Minimum Deposit: Same as the selected account type

The Islamic Account is an excellent option for people who follow Islamic finance principles, ensuring that they can participate in the financial markets without compromising their religious beliefs.

The trading conditions are identical to those of the Standard or Professional Accounts, depending on the client’s selection, ensuring a level playing field.

Comparative Table of Account Types

FeatureStandard AccountProfessional AccountIslamic Account
LeverageUp to 1:500Up to 1:500Up to 1:500
SpreadsFrom 0.3 pipsFrom 0.1 pipsSame as selected account
CommissionNoneYes, varies by instrumentSame as selected account
Minimum Deposit$50$1,000Same as selected account
PlatformsMT4, MT5MT4, MT5MT4, MT5
Create a demo Account

Trading Platforms

The trading platform is the primary interface through which traders interact with the financial markets, making it a critical component of any broker’s offering.

GoFX supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

MetaTrader 4 (MT4)

MT4 has long been the gold standard in Forex trading platforms, known for its user-friendly interface, robust functionality, and extensive range of tools for technical analysis.

Key Features:

  • User Interface: MT4 is designed with simplicity in mind, making it accessible to users of all experience levels. The platform’s interface is intuitive, with easy navigation between charts, tools, and trading functionalities.
  • Technical Analysis: The platform offers over 30 built-in technical indicators and a range of charting tools, allowing traders to perform in-depth technical analysis. MT4 supports up to nine timeframes per instrument, providing flexibility in market analysis.
  • Automated Trading: MT4 supports automated trading through the use of Expert Advisors (EA). These allow traders to automate their strategies, executing trades based on predefined conditions without the need for manual intervention.
  • Order Execution: MT4 provides fast and reliable order execution, which is crucial in the fast-paced Forex market.
  • Customization: The platform allows for a high degree of customization, enabling individuals to tailor the interface, chart setups, and indicator parameters to their specific needs.

MetaTrader 5 (MT5)

MT5 is the next-generation platform that builds upon the foundation laid by MT4, offering enhanced features and functionality.

While it retains much of what made MT4 popular, it also introduces new tools and improvements that cater to more sophisticated traders.

Key Features:

  • User Interface: MT5 offers a more advanced and feature-rich interface compared to MT4. While it may involve a steeper learning curve, it provides additional tools and functionalities for users who require more sophisticated analysis.
  • Technical Analysis: MT5 includes an expanded set of 38 technical indicators and 44 analytical objects. It also supports 21 timeframes and an unlimited number of charts, offering more depth in technical analysis.
  • Market Depth: A significant enhancement in MT5 is the addition of market depth, which provides more detailed insight into the liquidity available at different price levels.
  • Order Types: MT5 introduces additional order types, such as Buy Stop Limit and Sell Stop Limit, offering greater flexibility in trade execution.
  • Trading Instruments: While MT4 primarily focuses on Forex trading, MT5 supports a broader range of financial instruments, including stocks, commodities, and futures, making it a more versatile platform.

Comparative Table of Trading Platforms

FeatureMetaTrader 4 (MT4)MetaTrader 5 (MT5)
User InterfaceSimple and intuitiveAdvanced and feature-rich
Technical Indicators30+38+
Timeframes921
Charting ToolsBasic to intermediateAdvanced
Automated TradingYes (EAs)Yes (EA)
Order TypesMarket, Limit, StopMarket, Limit, Stop, Stop Limit
Market DepthNoYes
Supported InstrumentsPrimarily ForexForex, Stocks, Commodities, Futures

Both MT4 and MT5 are available on desktop, web, and mobile, ensuring that investors can access their accounts and manage their trades from anywhere in the world.

The choice between MT4 and MT5 ultimately depends on the user’s needs: MT4 is better suited for those focused on Forex trading and looking for simplicity, while MT5 is ideal for those who require more advanced features and access to a broader range of markets.

Trading Instruments

One of its key strengths is its wide range of trading instruments, which allows traders to diversify their portfolios and explore various markets.

The broker offers access to multiple asset classes, including Forex, indices, shares, commodities, and cryptocurrencies.

Forex

Forex trading is at the core of their offerings.

This broker provides access to over 60 currency pairs, including major, minor, and exotic pairs, ensuring that people have ample opportunities to capitalize on the fluctuations in global currency markets.

Key Forex Pairs:

  • Major Pairs: The most liquid and widely traded pairs, including EUR/USD, GBP/USD, and USD/JPY. These pairs typically have the tightest spreads due to their high liquidity.
  • Minor Pairs: These include less liquid pairs like EUR/GBP and AUD/NZD. While they offer fewer trading opportunities than the majors, they can still be profitable for traders who understand the market dynamics.
  • Exotic Pairs: Exotic pairs, such as USD/ZAR (US Dollar/South African Rand) and EUR/TRY (Euro/Turkish Lira), offer higher volatility and potentially larger profit margins but come with higher spreads and greater risk.

Indices

For those interested in trading stock indices, it offers more than 60 global indices.

Trading indices allows speculating on the performance of entire stock markets rather than individual companies, making it an excellent way to gain exposure to broader economic trends.

Key Indices:

  • Major Indices: GoFX provides access to popular indices such as the S&P 500, NASDAQ 100, FTSE 100, and DAX 30. These indices represent some of the most significant economies in the world, offering insight into broader market trends.
  • Regional Indices: The broker also offers regional indices from Asia, Europe, and the Americas, allowing investors to diversify their portfolios further and take advantage of global economic movements.

Shares

GoFX allows investing in individual shares of some of the world’s leading companies.

This option is ideal for those who want to gain exposure to specific companies and benefit from their price movements.

Key Markets:

  • US Stocks: Major American companies such as Apple, Google, Amazon, and Tesla are available for trading, providing opportunities to trade some of the most dynamic and influential companies globally.
  • European Stocks: GoFX also offers stocks from leading European companies, providing a broader range of trading options.
  • Asian Stocks: The inclusion of stocks from Asian markets allows traders to tap into some fastest-growing economies.

Commodities

Commodity trading offers a different kind of trading opportunity, often used as a hedge against inflation or to diversify a portfolio.

GoFX provides access to both hard and soft commodities.

Key Commodities:

  • Hard Commodities: This category includes metals like Gold and Silver, as well as energy commodities such as Crude Oil. These commodities are often considered safe-haven assets, especially in times of economic uncertainty.
  • Soft Commodities: Soft commodities, such as Coffee, Wheat, and Sugar, provide opportunities in agricultural markets, which can be influenced by factors like weather conditions and global demand.

Cryptocurrencies

Cryptocurrencies have become increasingly popular recently, and it offers several digital currencies for trading.

Its competitive spreads and 24/7 trading availability make it an attractive option for those interested in this volatile market.

Key Cryptocurrencies:

  • Major Cryptocurrencies: GoFX offers trading on leading digital currencies such as Bitcoin, Ethereum, Ripple, and Litecoin. These are the most widely traded cryptocurrencies and are known for their high volatility.
  • Altcoins: In addition to the major cryptocurrencies, it also provides a selection of altcoins, allowing investors to diversify their crypto portfolios.

Comparative Table of Trading Instruments

Instrument TypeExamplesTrading HoursLeverage
ForexEUR/USD, GBP/USD, USD/JPY24/5Up to 1:500
IndicesS&P 500, NASDAQ 100, FTSE 100Market-dependentUp to 1:200
SharesApple, Amazon, TeslaMarket hours of respective exchangeUp to 1:20
CommoditiesGold, Silver, Crude OilVariesUp to 1:100
CryptocurrenciesBitcoin, Ethereum, Ripple24/7Up to 1:10

Fees and Spreads

Understanding the fee structure is essential, as fees can significantly impact trading profitability.

GoFX is known for its competitive fee structure, particularly regarding spreads and commissions.

Spreads

Spreads are variable, meaning they can fluctuate based on market conditions.

This is standard practice in the industry, but it’s essential to know what to expect. Below is a breakdown of the typical spreads offered:

InstrumentStandard AccountProfessional Account
EUR/USDFrom 0.3 pipsFrom 0.1 pips
GBP/USDFrom 0.5 pipsFrom 0.3 pips
GoldFrom 0.25 pipsFrom 0.15 pips
BitcoinFrom 0.2%From 0.15%

The Standard Account offers competitive spreads that are lower than many other brokers in the industry.

However, for those who require the tightest spreads available, the Professional Account offers even lower spreads, albeit with the introduction of commission fees.

Commissions

Unlike the Standard Account, which operates on a spread-only model, the Professional Account may involve commission fees, depending on the instrument traded.

This fee structure is common among brokers who offer very tight spreads, as the commission helps cover their operational expenses.

Key Points:

  • Forex: Typically, a commission of $3 per lot traded is applied in the Professional Account.
  • Shares: Commission rates for trading shares vary depending on the market and the specific stock.
  • Commodities and Cryptocurrencies: These often have their costs embedded within the spread, so no additional commission is charged.

Other Fees

  • Deposit and Withdrawal Fees: One of its notable features is that it does not charge any fees for deposits or withdrawals. This is a significant advantage, as these fees can add up over time with other brokers.
  • Inactivity Fee: The firm charges an inactivity fee if there is no trading activity on an account for 12 consecutive months. This fee is typically around $10 per month and is deducted from the account balance.
  • Swap Fees: Swap fees, also known as rollover fees, are charged on positions held overnight. These fees vary depending on the instrument and current market rates. For Islamic Accounts, these swap fees are waived.

Comparative Table of Fees

Fee TypeStandard AccountProfessional Account
SpreadFrom 0.3 pipsFrom 0.1 pips
CommissionNoneYes, varies by instrument
Deposit FeeNoneNone
Withdrawal FeeNoneNone
Inactivity Fee$10/month after 12 months$10/month after 12 months
Swap FeeYesYes (waived for Islamic Accounts)

Leverage

Leverage is a double-edged sword in trading; it can magnify both gains and losses.

GoFX offers leverage of up to 1:500, which is relatively high and appealing to people looking to maximize their trading potential with a smaller capital base.

Leverage by Account Type

  • Standard Account: Users in the Standard Account can access leverage of up to 1:500, which is relatively high and allows for significant position sizing with a small initial investment.
  • Professional Account: Similar to the Standard Account, the Professional Account also offers leverage of up to 1:500, enabling experienced market participants to maximize their potential gains.
  • Islamic Account: Leverage levels are the same as the selected account type, with up to 1:500 available.

High leverage can be appealing, particularly to those with limited capital who wish to amplify their potential returns.

However, it also increases exposure to market volatility and can lead to substantial losses if not managed carefully.

Leverage by Instrument

Leverage ratios vary depending on the instrument being traded:

  • Forex: Up to 1:500, providing ample leverage for currency trading, which is typically less volatile than other markets.
  • Indices: Up to 1:200, reflecting the slightly lower volatility compared to Forex, but still offering significant leverage.
  • Shares: Up to 1:20, due to the higher risk associated with individual stocks.
  • Commodities: Up to 1:100, offering substantial leverage for trading volatile markets like Gold and Oil.
  • Cryptocurrencies: Up to 1:10, reflecting the high volatility and risk inherent in trading digital currencies.

Deposit and Withdrawal Options

Depositing and withdrawing funds should be a straightforward process, and this broker provides multiple options to ensure convenience.

Deposit Methods

  • Bank Transfer: Traditional and secure, but may take several days to process.
  • Credit/Debit Cards: Instant deposits with Visa and MasterCard are supported.
  • E-Wallets: Skrill and Neteller offer fast and secure transactions.
  • Cryptocurrencies: Bitcoin deposits are supported, appealing to those who prefer digital currencies.

Withdrawal Methods

  • Bank Transfer: Typically takes 2-5 business days to process.
  • Credit/Debit Cards: Usually processed within 1-3 business days.
  • E-Wallets: Skrill and Neteller withdrawals are processed within 24 hours.
  • Cryptocurrencies: Bitcoin withdrawals are processed within 24 hours.

Processing Times and Fees

One of the key advantages is that the broker does not charge fees for deposits or withdrawals, which is not always the case with other firms.

However, traders should be aware that their bank or payment provider may charge fees, particularly for currency conversions or international transfers.

Customer Support

The quality of customer support can make or break a trading experience, particularly for new customers who may need assistance navigating the platform or understanding the nuances of trading.

GoFX offers several channels of customer support to ensure that clients can get the help they need when they need it.

Support Channels

The company offers several channels for customer support:

  • Email Support: Available 24/7, with response times typically within 24 hours.
  • Phone Support: Available during business hours (GMT), with dedicated lines for different regions.
  • Live Chat: Instant support via the website, available 24/5.
  • Social Media: The firm is active on platforms like Facebook and Twitter, where they also offer support.

Response Times

While the availability of multiple support channels is a plus, some traders have reported slower response times, particularly via email.

Live chat and phone support tend to offer quicker responses, making them the preferred options for urgent queries.

Quality of Support

Overall, the quality of support provided is satisfactory.

The support team is knowledgeable and capable of handling a wide range of inquiries, from technical difficulties to account-related questions.

However, the support team could benefit from additional training to reduce response times, particularly during peak hours.

Trading Conditions

Trading conditions are designed to accommodate a wide range of trading strategies, from day trading to long-term investing.

The broker offers competitive spreads, high leverage, and fast execution, making it a viable option for people with different styles and objectives.

Order Execution

Order execution speed is a critical factor in trading, especially in fast-moving markets.

GoFX offers market execution with no re-quotes, ensuring that traders get the best available price at the time of execution.

Their servers are located close to major liquidity providers, which helps reduce latency and improve execution times.

Trading Hours

  • Forex: 24 hours a day, 5 days a week
  • Indices: Typically follow the trading hours of their respective markets
  • Shares: Follow the trading hours of their respective exchanges
  • Commodities: Varies depending on the commodity
  • Cryptocurrencies: 24/7 trading

The ability to trade cryptocurrencies 24/7 is particularly appealing to traders who want to capitalize on the volatile nature of the crypto markets.

Comparative Table of Trading Conditions

ConditionForexIndicesSharesCommoditiesCryptocurrencies
Trading Hours24/5Market-dependentMarket-dependentVaries24/7
LeverageUp to 1:500Up to 1:200Up to 1:20Up to 1:100Up to 1:10
SpreadsFrom 0.1 pipsFrom 0.5 pipsFrom 0.2 pipsFrom 0.25 pipsFrom 0.2%
Order ExecutionMarketMarketMarketMarketMarket

Education and Research

Education and research tools are essential for individuals who want to expand their skills and make informed trading decisions.

While GoFX offers a solid platform and trading conditions, its educational resources are partially limited.

Educational Resources

The company provides a basic range of educational materials, including:

  • Video Tutorials: Covering the basics of trading and platform usage.
  • Webinars: Occasional webinars on market analysis and trading strategies.
  • Glossary: A comprehensive glossary of trading terms.
  • Platform Guides: Detailed guides on how to use MT4 and MT5.

While these resources are helpful, they are relatively limited in scope.

Traders looking for in-depth education may need to supplement their learning with external resources.

Research Tools

Research tools are more robust, catering to users who need up-to-date market information and analysis.

  • Economic Calendar: A standard feature that tracks important economic events and their potential impact on the markets.
  • Market News: Daily updates on key market events and trends.
  • Technical Analysis: Regular technical analysis reports on major currency pairs, indices, and commodities.

These tools are valuable for those who want to stay informed about market developments and make data-driven trading decisions.

Security and Data Protection

Security is a top priority for any online financial service, and the firm takes several measures to protect data and funds.

Data Encryption

GoFX uses advanced encryption technology to protect all data transmitted between its servers and clients.

This includes personal information, account details, and trading activities.

The company employs Secure Socket Layer (SSL) technology, which is standard in the industry.

Segregation of Funds

In compliance with regulatory requirements, it keeps client funds in segregated accounts.

This means that funds are kept separate from their operational funds, reducing the risk of misuse or loss of funds.

Negative Balance Protection

GoFX offers negative balance protection, ensuring that customers cannot lose more than their account balance.

This feature is particularly important for traders who use high leverage, as it provides an extra layer of financial security.

Account Opening Process

Opening an account is a straightforward process, designed to be as user-friendly as possible.

Step 1: Registration

The first step is to complete the online registration form, which requires basic personal information, such as your name, email address, and phone number.

You will also need to create a password and select your preferred account type.

Step 2: Verification

To comply with regulatory requirements, the company requires you to verify your identity and address.

This typically involves uploading a copy of your passport or driver’s license, along with a utility bill or bank statement showing your address.

The verification process usually takes 1-2 business days.

Step 3: Funding Your Account

Once your account is verified, you can fund it using one of the available deposit methods.

As mentioned earlier, GoFX does not charge any deposit fees, and funds are typically credited to your account within minutes, depending on the payment method.

Step 4: Start Trading

After your account is funded, you can start trading immediately.

You will have access to all the trading platforms and instruments, allowing you to begin building your portfolio.

Conclusion

GoFX is a versatile and competitive broker that offers a range of features suitable for both novice and experienced traders.

With its high leverage options, competitive spreads, and comprehensive selection of trading instruments, GoFX is well-positioned to meet the needs of various traders.

The broker’s support for both MT4 and MT5 platforms further enhances its appeal, providing flexibility and a wealth of trading tools.

However, it is not without its drawbacks.

The limited educational resources may be a disadvantage for beginners who require more comprehensive learning materials.

Additionally, while the company is regulated by ASIC and IFSC, some traders might prefer a trading firm with stronger regulatory oversight from bodies like the FCA or CySEC.

Overall, GoFX is a strong contender in the online trading space, particularly for those who value high leverage, low spreads, and a wide range of trading instruments.

As with any broker, potential clients should carefully consider their trading needs and objectives before opening an account.

Final Thoughts

In a crowded market of online brokers, GoFX manages to stand out through its competitive trading conditions and wide range of instruments.

While it may not offer the most comprehensive educational resources or the strongest regulatory oversight, it compensates with a user-friendly platform, many account types, and excellent trading conditions.

Whether you are just starting your trading journey or looking to switch brokers, GoFX is certainly worth considering.

As always, traders should conduct their due diligence and ensure that the trading firm they choose aligns with their trading style and financial goals.

Visit official website: www.gofx.com

FAQ

Is GoFX regulated?

Yes, the broker is regulated by the ASIC (Australian Securities and Investments Commission) and the IFSC (International Financial Services Commission), ensuring compliance with industry standards.

What is the minimum deposit requirement?

The minimum deposit requirement is $50, making it accessible for users with smaller capital.

What platforms are available for trading?

GoFX supports both MT4 and MT5 platforms, offering flexibility and a wide range of tools for traders.

Does it charge deposit or withdrawal fees?

No, GoFX does not charge any fees for deposits or withdrawals, which is a great advantage for clients.

Is GoFX suitable for scalping?

Yes, this broker supports scalping strategies and provides the necessary tools for traders who prefer this approach.

What are the spreads like?

GoFX offers very low spreads, with the average cost for EUR/USD being around 0.3 pips.

Does GoFX offer Islamic accounts?

Yes, it provides Islamic accounts that comply with Sharia law, ensuring no interest is charged or earned.

References and Sources

    User Reviews

    “I started trading with GoFX about a year ago, and so far, it’s been a pretty smooth experience. The spreads are very competitive, especially on major pairs like EUR/USD. I also appreciate that there are no deposit or withdrawal fees, which adds up to quite a bit in savings. The MT5 platform works flawlessly, and I love the flexibility it offers. However, I did have a slight issue with customer support—response times could definitely be quicker. Overall, it’s a solid broker for anyone looking to trade Forex and other assets.”
    Anselm Marlowe
    “I’ve been trading on GoFX for about six months, and it’s been a positive experience overall. The broker offers a good range of assets, and I particularly enjoy trading cryptocurrencies, which have very low spreads. The platform is user-friendly, and I appreciate the detailed market analysis they provide. My only gripe is that their educational resources are quite limited. For a beginner like me, a few more tutorials or webinars would have been helpful. Still, I’m happy with the service, and the low deposit requirement makes it accessible for traders with smaller budgets.”
    Genevieve Laurent
    “GoFX has been my go-to broker for Forex trading. The spreads are some of the lowest I’ve seen, and the leverage options are great for maximizing potential returns. Setting up an account was straightforward, and the fact that they offer both MT4 and MT5 platforms is a big plus. The only downside I’ve encountered is that customer support isn’t as responsive as I would like. But apart from that, everything else has been great, especially for someone who trades on a tight schedule like me.”
    Caelan Whitlock
    “I switched to GoFX after using a few other trading firms, and I’ve noticed a significant difference in terms of spreads and platform reliability. The execution speed is fast, and I’ve never had any issues with slippage, which is crucial for my trading strategy. I also like that they don’t charge any fees for withdrawals, which is rare. On the downside, I think they could do better in terms of customer support—I’ve had to wait a bit longer for responses to some of my queries. But overall, I would recommend them to other traders.”
    Isolde MacKenna
    “I’ve been trading with GoFX for a few months now, and I’m quite impressed with their service. The platform is stable, and the spreads are extremely competitive, especially during peak trading hours. I also appreciate the range of payment methods they offer, including Bitcoin. The one area I think they could improve is the speed of their client support. I’ve had a couple of issues that took longer than expected to resolve. But other than that, my experience has been very positive, and I plan to continue trading with them.”
    Torsten Kline

    Article written, edited and reviewed by

    adam-rosen-brokfolio

    Adam Rosen

    Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.

    andrew-blumer-brokfolio

    Andrew Blumer

    Andrew Blumer is a finance pro who's got money matters down to a science.
    Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
    But hold on, there's more to this financial nerd.
    Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
    Oh, and did we mention? He's the manager of Brokfolio's website and an expert in online brokers. So, if you're diving into the world of trading, Andrew's your go-to guy.
    For more on his financial escapades, head over to his LinkedIn profile. Trust us, his journey is worth a read!

    emily-clark-brokfolio

    Emily Clark

    Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
    As our team grew, Emily's role blossomed big time. She became the go-to rockstar, an absolute must-have player in our squad, making our growth story rock.
    Emily's work ethic? Oh, it's like a caffeine-fueled engine, chugging away with laser-sharp precision. Seriously, without her juggling skills, our growth wouldn't have hit turbo mode.
    But here's the cool part – Emily isn't just words and commas. She's got this uncanny radar for brokers and trading know-how. It's like she's got insider info on these money-making worlds.
    Currently Emily's holding the senior editor crown, keeping tabs on content from our awesome team.

    Last updated: September 5, 2024

• Earn up to 5.2% interest on your GBP, USD and EUR uninvested funds.
• Invest in Stocks and ETFs without commissions.
• Largest stock exchange-listed broker.
• Regulated with +20 years in the market.
• Free deposits and withdrawals.
• Investment plans available.
• Earn up to 5.2% interest on your
GBP, USD and EUR uninvested funds.
• Invest in Stocks and ETFs
without commissions.
• Largest stock exchange-listed broker.
• Regulated with +20 years in the market.
• Free deposits and withdrawals.
• Investment plans available.