GOFX
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 |
Promotions/Bonus
Minimum deposit is $5. 30% bonus points on deposit amount, up to $100 for standard accounts only.
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