GOFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-01-26 23:56

Abstract：TouchStone Markets Limited, a Securities Dealer, is a subsidiary of GOFX Group. The tradable instruments include forex, precious metals, indexes, stocks, and energy. The broker also provides five accounts with a maximum leverage of 1:3000. The minimum spread is from 0.2 pips. GOFX is risky due to its offshore regulated status, high leverage, and bad reviews about difficulty withdrawing money.

GOFX Review Summary
Founded	1998-11-11
Registered Country/Region	Seychelles
Regulation	Offshore regulated
Market Instruments	Forex/Precious metals/Index/Stocks/Energy
Demo Account	❌
Leverage	Up to 1:3000
Spread	From 0.2 pips
Trading Platform	MT4/MT5(Windows/MAC/IOS/Android)
Min Deposit	$1
Customer Support	Phone: +971 562382909

GOFX Information

　　TouchStone Markets Limited, a Securities Dealer, is a subsidiary of GOFX Group. The tradable instruments include forex, precious metals, indexes, stocks, and energy. The broker also provides five accounts with a maximum leverage of 1:3000. The minimum spread is from 0.2 pips. GOFX is risky due to its offshore regulated status, high leverage, and bad reviews about difficulty withdrawing money.

Pros and Cons

Pros	Cons
Various tradable instruments	Offshore regulated
24/7 customer support	High max leverage
MT4/MT5 available	Some negative comments
Spread from 0.2 pips	Demo account unavailable
MT4/MT5 available

Is GOFX Legit?

　　FSA regulates GOFX with license number SD118 and License Type Retail Forex License. However, the 'offshore regulated' current status is not as safe as the regulated one.

What Can I Trade on GOFX?

　　GOFX offers various market instruments, including CFD on forex, precious metals, indices, stocks, and energy.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Stocks	✔
Cryptocurrencies	✔
Precious Metals	✔
Shares	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　GOFX has five account types: Go-mini, Go-standard, Go-low spread, Go-pro, and Go-inter. Traders who want low spreads and leverage can choose a Go-Pro account.

Account Type	Go-Mini	Go-Standard	Go-Low Spread	Go-Pro	Go-Inter
Minimum deposit	$1	$1	$1	$1	$1
Leverage	Up to 1:500	Up to 1:3000	Up to 1:500	Up to 1:100	Up to 1:100
Stop Out	✔	✔	✔	✔	✔
Spread	From 1 pip	From 1 pip	From 0.6 pips	From 0.2 pips	Depend on the market
Order Quantity	0.01-100 Lot	0.01-50 Lot	0.01-50 Lot	0.01-50 Lot	Start at 1 Lot

GOFX Fees

　　The spread is from 0.2 pips. The Go-Pro account commission requires $3.5/lot. The lower the spread, the faster the liquidity.

Leverage

　　The maximum leverage is 1:3000 meaning that profits and losses are magnified 3000 times.

Trading Platform

　　GOFX cooperates with the authoritative MT4 and MT5 trading platforms, which are available in Windows, MAC, IOS, or Android. Junior traders prefer MT4 over MT5. While traders with rich experience are more suitable for using MT5. Both MT4 and MT5 provide various trading strategies and implement EA systems.

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Windows/IOS/Android	Junior traders
MT5	✔	Windows/MAC/IOS/Android	Experienced traders