GoldFX Trading (Goldfxtrading.com) is another scam broker based in Cambodia that has popped up in the Forex world. From what we’ve established, this company is apparently partnering with GDMFX. If you don’t know, this is a New Zealand based Forex broker. It should be noted that we have a problem with both these brokers. Read through this detailed review and get to find out why we have blacklisted GoldFX Trading.
Never use unregulated brokers and we have proof that GoldFX Trading is without a doubt, unregulated. Not only is this scam broker offering Forex, but claims to be a CFD broker. We have concrete proof that proves GoldFX trading is nothing but a scam. You should stay away from it especially if you were thinking of opening an account.
According to the official website, GoldFX Trading gains access to the markets using MetaTrader4. This is one of the most notable and preferred trading platforms the market offers. According to GoldFX Trading, this platform helps execute fast and has both web and mobile usages. One of the red flags we first noticed is when we downloaded the platform. Once you go to the download page, the page has been branded with a different company’s name. Isn’t this weird?
These scammers are promising users heaven and at the same time, giving hell. Yes, you will be easily enticed by the trading instruments GoldFX Trading offers. Trading instruments these scam brokers offer include Swedish Krona, Copper, Turkish Lira, gold, silver, and some indices. Folks, all these trading instruments are simply a ploy to rake you in. Read more on GoldFX Trading to find out the whole truth.
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GoldFX Trading is charging around 500 EUR for a basic account. Honestly, this is double what standard and honest brokers offer. Note that this is the initial deposit and you will also be asked to cough more money for trading.
This is another red flag that we had to mention. High initial deposit that is unacceptable. These scammers are insulting the Forex trading world and they should be shut down immediately. We urge the responsible institutions to look into this matter and shut the whole operation down.
This is one of the most crooked scams we have ever seen. It has multiple location addresses which makes it difficult to pinpoint the true address. On the contact page, you will see that the contact details are based in London. Remember that on the homepage, they claimed to be based in Cambodia.
Wouldn’t you except the contact details to be in Cambodia? Why the sudden change in contact information? Simple, they don’t want to get caught. They don’t want victims and relevant authorities to ever find them out. This is the simplest logic we could deduce.
One of the latest tricks scammers have been using is partnering with already deregistered brokerage companies. It happens that new company partners with an already existing company due to utilities. Yes, they want to use GDMFX utilities and here the problem of registration starts. Our main problem is this mother company which is based in New Zealand. It’s NOT REGISTERED with the Financial Markets Authority.
Isn’t this strange that a brokerage firm does not follow the rules and regulations set by industry’s institutions? What’s more interesting is that GoldFX trading is registered and regulated in Cambodia. We reached out to financial institutions of Cambodia and they have never heard it. A public register is available in Cambodia and does not show any registration details of GoldFX Trading.
Instead of dealing with unregistered forex brokers, the safest way is to sign up with approved and regulated brokers. Your money is safe, you deal with professional Forex brokers and never miss a chance to win real profits. With tested and trusted forex brokers, your money is always safe.
Dealing with unregulated brokers means you have a high chance of losing all your money, at once! Registered forex brokers have an advantage in that they follow strict guidelines and oversight.
This fake brokerage firm is accepting MasterCard, Visa and wire transfer. Here’s the trick though, you are only allowed to deposit. Once you deposit with GoldFX Trading, you will never get the chance to withdraw your money. Yes, these scammers refuse to let anyone withdraw their hard earned money.
We have received numerous complaints from members who signed up and deposited with Gold FX Trading. Once they deposited and started trading, any withdrawal requests were canceled or postponed. Why would they refuse members to withdraw their funds? It’s simple, they are scammers whose main aim is to steal money from unsuspecting Forex investors.
Here, we will reveal the tricks used by these brokers to scam innocent victims of their hard earned cash. They first send you a promotional video with a guy claiming to make it big with GoldFX Trading. All you have to do is join this trading platform by simply registering with them. Once you give them your phone number and email, you open yourself to calls from brokers.
After being urged to deposit 500EUR as initial sign up fee, they will ask for another $250. They refer the second deposit as investment money for your account. Once you deposit, you will start seeing your account making only successful trades. Remember that they claim that wins with this product are guaranteed.
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Later on, you will receive a call from an account manager urging you to invest more money. Seeing that your account is making only successful trades, most people deposit over $10,000. This is when the real trouble begins. You will never be able to get back your money. Some people have tried contacting GoldFX for weeks now with no answers. This is why we are urging our readers to stay away from this product!
No sane broker can guarantee consistent profit margins unless they are scammers. Why? Forex market, just like any financial market, is volatile. Prices change from time to time and thus makes it harder to guarantee consistent profits. This is one trickery scammers are using to attract potential Forex investors.
Sadly, a lot of folks have fallen victim to this scam. If you are one of them, we are truly sorry. The best thing you can do is file a chargeback with your credit card provider. If you had given your bank details, ensure you cancel your card and change your passwords. Make sure you change your online banking password too. Unless you block your credit card, these scammers will take all your money.
Do not at any time trust the so-called recovery agencies. They are scammers themselves. What they do is ask for a down payment in order to trace your money. Once you make the payment, you will never hear from them again. They simply don’t have the capacity to trace back your lost money.
GoldFX Trading IS A SCAM! We have produced concrete proof suggesting that this fake forex broker is out to get your money. The best thing you should do is ignore any email sent to join this crappy forex brokerage firm.
Being seasoned Forex brokers, we hate to see that people are being taken advantage of by scammers. This and proof we have is the reason why we have decided to blacklist GoldFX Trading.
Instead of dealing with Fake Forex Brokers, only deal with recommended and trusted brokers. Your money will always be safe not forgetting getting a chance to make REAL MONEY with tested brokers. Stay safe when trading with Forex.
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