GO4REX is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and cryptocurrencies. However, there are a number of red flags that suggest that GO4REX is a scam broker.
Company Overview
GO4REX is a relatively new broker, having been founded in 2021. The company is headquartered in St. Vincent and the Grenadines, which is a known offshore financial center. GO4REX does not have any licenses or regulations from any reputable financial authorities.
Does GO4REX Have Any License?
No, GO4REX does not have any licenses or regulations from any reputable financial authorities. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves traders with no recourse if they lose money or are scammed.
Is GO4REX Regulated By Any Authority?
No, GO4REX is not regulated by any authority. This is another major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves traders with no recourse if they lose money or are scammed.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is user-friendly.
- There are a variety of trading instruments available.
Cons:
- The broker is not regulated.
- There are a number of negative reviews online.
- The withdrawal process is slow and difficult.
How Does GO4REX Reach To Their Prey?
GO4REX uses a variety of methods to reach their prey, including:
- Cold calling
- Spam emails
- Social media
- Online ads
The brokers will often pose as legitimate financial advisors and offer their services to unsuspecting victims. They may also make false promises of high profits or guaranteed returns.
Technical Details
Minimum Deposit:
The minimum deposit for a GO4REX account is $250.
Trading Platform:
GO4REX uses the MetaTrader 4 trading platform. This is a popular and well-respected platform that is used by traders all over the world.
Spread:
The spreads offered by GO4REX are average.
Leverages:
The maximum leverage offered by GO4REX is 1:500. This is a high leverage that can magnify profits and losses.
Packages and Products They Offer
GO4REX offers a variety of trading accounts, including:
- Basic
- Bronze
- Silver
- Gold
- Platinum
The standard account has a minimum deposit of $250. The VIP account has a minimum deposit of $5000. The demo account is free to use.
Withdrawal and Deposit Method
GO4REX offers a variety of withdrawal and deposit methods, including:
- Credit cards
- Debit cards
- Bank transfers
- Bitcoin
The withdrawal process is slow and difficult. Traders often have to wait several weeks to get their money.
What Do Their Previous Traders Say?
There are a number of negative reviews about GO4REX online. Traders have complained about the slow withdrawal process, the high fees, and the lack of customer support.
Summing Up- Why Should Not You Trust GO4REX
There are a number of reasons why you should not trust GO4REX. The broker is not regulated, there are a number of negative reviews online, and the withdrawal process is slow and difficult.
If you are looking for a legitimate forex broker, I recommend that you avoid GO4REX.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to GO4REX or any other scam broker, you may be able to recover your funds with the help of a recovery service. These services specialize in tracing and recovering lost funds.
I recommend that you contact a recovery service as soon as possible. The sooner you act, the better your chances of recovering your funds.
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Final Thoughts
GO4REX is a scam broker that should be avoided. If you are considering trading with this broker, I urge you to reconsider. There are many legitimate brokers out there that offer better services and are more likely to protect your money.
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