GoTechFX (Gotechfx.com) is a CFDs, Crypto Currency and Forex scam broker to hit the lucrative trading world. Go Tech FX is claiming to provide 24/7 Forex trading which is one of the many red flags we spotted. How can GoTech FX be offering Forex trading during the weekends when markets are closed? Read this entire review and find out the real truth regarding this scam broker. Here’s the true 411.
Scammers have a knack of creating websites that appear real and hence, easily entices the eye. This is what scammers are after, to make sure they grab your full attention. Don’t let the website easily fool you, there’s more than meets the eye. Here, we will show you the tricks used by these scammers to lure unsuspecting investors to sign up. Make sure you read this whole review and WARN anyone else who tries to sign up with GOTECHFX.
Professional scammers will create claims and promises that will make people want to sign up. Most of these promises include a one in a lifetime opportunity to make real money. These claims and promises are purely meant to trap you into this pyramid scheme. What these scammers want is to get your hard earned money. By depositing money with GoTechFX, you will be crying all the way from your bank. You have been warned!
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GoTechFX is owned by GO T Limited, this is according to the disclaimer at the footer of their homepage. It also goes ahead and states that this company is located in Marshall Islands. With their own worlds, they admit that GO TECH FX is indeed an offshore brokerage firm. Offshore brokers are notoriously known for flaunting set industry rules and regulations. That’s why you should never sign up with an offshore broker.
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Have you realized that this broker fails to mention real names of the people behind GoTechFX? Who is the CEO or CFO of GO T Limited or the real founders? Anonymity is a dangerous character to associate yourself with. These scammers don’t want their real names to be known for obvious reasons. GoTechFX is a scam and these scammers don’t want any backlash from authorities or victims.
To our knowledge, this broker is not licensed or regulated by any relevant regulatory body. It means that we are dealing with an unauthorized broker which is troublesome, to say the least. This broker can easily pack their bags and leave without giving members any notice. And that’s what GoTechFX wants to do, to get as many people to sign up before closing shop. This is a classic scam move which we are warning newbie investors about.
According to the disclaimer at the bottom of the homepage, 97891 is supposedly their registration number. Folks, what these scammers fail to mention is who actually registered them. Scammers will do or say anything to make their products and services appear legit. Just because they have posted a random number, doesn’t mean that they are legit. These are some of the known tricks that scammers are using today.
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These scammers have gone a step further by rigging their demo account. Yes, the demo account is rigged in your favor. What these scammers have done is make sure that the demo account will make over 90% winning trades. This is done in the hope that users will believe the same results will be mirrored on a real account. And thus, once users see that they are making over 90% winning trades, they open a real account.
And this is where the trap is set. Once you open a real account, you will have to deposit real money with these scammers. Depositing money with this people is the last thing you would want to do. These scammers have not allowed anyone to withdraw money using their platform. As we said earlier, these scammers simply want users to sign up with them. Once they get your money, it’s the last you will ever hear from them.
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GoTechFX offers two types of trading platform, Activ8 platform and MT4 trading platform. To test their compatibility, we decided to download their platform and see how it works. Download stalled at 50% which is really bad news for traders. This means that their platform is unstable and totally dangerous.
An unstable platform will leave users vulnerable to cyber-attacks. Unstable platforms are breeding grounds for hackers looking to steal credit card information. That’s not all; hackers take advantage of unstable platforms and steal personal data. Unstable platforms are a security nightmare for any trader. Stay away from unstable platforms.
Funds are never safe with a broker who is anonymous and not licensed. To begin with, this broker does not reveal their banking partner. Where do they bank money deposited by users? Did you know that members could be depositing money straight to the owner’s personal bank account? That’s one of the many scary thing that we discovered with GoTechFX. And now you have another solid reason not to sign up with GO TECH FX.
This broker does not segregate accounts. It means that the broker in question is pooling funds deposited by users in one account. To be honest, this is a very risky practice that leaves users at a high risk of losing money. Another disturbing feature with GoTechFX is that they don’t participate in a compensatory scheme. Once the broker loses your money, you will never be compensated by Go Tech FX.
With a broker who claims to be a leading Forex professional, you would expect they have a live chat team. Only thing that users are asked to do is to leave a message and they will contact you. How do they expect users to contact them with important questions that need quick answers? With this day and age, one would expect that brokers have a dedicated support team.
As we earlier said, there’s a reason why this broker wants to remain anonymous. It’s because pretty soon, they will close down their shop. Lack of proper communication channels is evidence they want to remain anonymous. Least they would have done is offer bot services to answer simple questions. Even this is out of the picture.
GoTechFX is a scam that is waiting to pounce on unsuspecting Forex investors. Make sure mark all their emails as Spam and never click on any links sent by these scammers. Some of the links contain malware meant to steal personal data. Warn your friends and relatives from signing up with GoTechFX.
Only option that we are left with is to add GoTechFX to our broker scam blacklist. They should shut down their whole operation and ensure that investors remain safe. Now you know better than to sign up with this shady Forex broker.
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Finally, we wish you all the best in your Forex trading experience.
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