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Goat4X is another broker whose aim is to steal from unsuspecting investors. Goat 4X claims to have their residence in Kosovo, which is not the case. It would be the first time we’ve heard a broker from Kosovo claiming to offer insane profit margins. From our investigation, we can show concrete proof that this is a scam. The company behind this platform is synonymous with other scams such as FX123. Continue reading this transparent GOAT4X Review for more details on the broker.
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Apart from their claim that they reside in Kosovo, there’s not much to go on. The broker has done a pretty good job with their website design. It’s no doubt that the design is aesthetically pleasing.
Even if that’s the case, our job is to ensure that any broker offers fair trading conditions. From our investigation, we can straight away tell you that GOAT4X is A SCAM. There’s no profiting from this brokerage firm.
Another red flag with the broker is the lack of transparency. We don’t get any information regarding who actually owns this platform. The information they have on their legal page shows a completely different story.
The broker is clearly hiding something from investors. And this is why we have to expose every dirty trick these scam artists use. Continue reading this informative post on one of the world’s leading scam platforms.
There are five trading assets on offer on this false trading platform. These assets include Commodities, Crypto, FX, Indices, and Stocks. There’s audacious leverage of 1:500, which is a ploy to lure investors.
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Most of the industry regulators have set 1:30 as the acceptable maximum leverage. Any other broker claiming a different scenario is putting your funds at risk. It’s best to stay away from the platform and start using industry-recommended brokers.
According to the Legal page, Trinket Support LLC is the company that owns this brokerage. Our investigation led us to a company whose residence in Hong Kong. The fact that they claim to reside in Kosovo is beyond us.
It’s another reason to suspect that the platform is anonymous. Investors should avoid joining any anonymous investing and trading websites. Most of these websites will take your money and block your accounts.
There’s a member who has already lost 39,000 Euros with the platform. Earl Thompson made the mistake of joining the broker due to the high leverage. He was under the assumption that he would profit immensely from the platform.
Little did he know that these are traps to ensure more investors deposit with Goat4x. After depositing, he’s now having a hard time trying to withdraw his balance. The broker has completely locked him out from accessing the account.
Despite the claim that the broker resides in Kosovo, domain details show otherwise. Details from domain checker tools show that the platform has its IP location in Singapore. These are clearly offshore brokers who will do or say anything to have you deposit with them.
The website is a year old and came into existence on April 27, 2020. It shows that the platform has been around for a while with no serious activity. We believe that this is a short-term website and will be sold later on.
Goat4X is not furnishing users with any information on their account types. We do know that the minimum deposit is $50, which is below the industry-recommended $250. And this is the best-case scenario for cheap is expensive.
The broker has purposely lowered the minimum deposit to attract newbies. Most newbies will go for a broker who offers a low minimum deposit. Once a hundred users deposit $50, none of them will receive their funds back.
Once you click on their chat tab, you are directed to their Instagram page. Note that the broker takes you to a private session. The Instagram platform is used to take advantage of one-on-one communication.
They have your address and can talk and send messages to you at any time. Once you ignore them, you get bombarded with emails or phone calls if you did give them your contacts. It’s best to protect your direct line from these scam artists.
These are the platforms you will see on this website. Although the broker claims to offer them, it’s not the case. They have just posted logos of the two platforms. You can get these platforms directly from their website.
Once you click on the platform’s link, you will notice that the link is broken. The broker is hiding the fact that they are using a custom-made platform. We have a problem with custom-made platforms as they offer no trading advantage to investors.
The broker does offer a demo account which isn’t really of much help. Once you open the demo account, you will notice that no trading takes place. It’s just a video showing how members are to trade once they open a real account.
Members don’t get a feel of the trading platform, which is the real intent of having a demo account. It would help if you stayed away from their live account as the demo video only shows profit wins. There are no losses which is not possible in any trading session.
Goat4X is not a legit brokerage firm as they hold no license from any governing authority. We have checked with all regulators in Europe, and none has their details. With more and more victims coming out, authorities will have no other option but to blacklist the broker.
That’s why you need to stay away from this ridiculous platform. Without a valid license, your investment is at risk of being void.
A legit broker will post their license and registration documents for all to see. There’s no indication that the broker has any documents to support their claim. And this means they have not deposited the minimum trading balance required to start a trading service.
Regulators demand that a broker deposit a sum of money for insurance. The money is to protect members from unforeseen circumstances such as bankruptcy or withdrawal.
There’s no safety of funds with a broker who holds no legal license. Once you deposit with the broker, the chances of withdrawing funds are slim. Investors should stay away from the platform as it’s a fraud.
Goat4X is a scam that everyone should avoid at all costs. The broker holds no license and has not undergone any regulation or supervision. Please stay away from them, or else risk losing your entire deposit.
We won’t be recommending an offshore broker who is completely anonymous. Stay away from the platform and use tested brokers.
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We wish everyone a happy and successful trading experience.
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