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GoTrading
China|5-10 years| http://www.gotradingco.com/index.html
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No valid regulatory information, please be aware of the risk!
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GoTrading Group Limited
GoTrading
China
Pyramid scheme complaint
Expose
Check whenever you want
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 19 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | 100USD |
| Minimum Spread | 2.0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | 5000USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | 10000USD |
| Minimum Spread | 2.0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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GoTrading · Company Summary
Note:GoTrading's official website:http://www.gotradingco.com/index.html is currently inaccessible normally.
| Aspect | Information |
| Company Name | GoTrading |
| Registered Country/Area | China |
| Founded Year | 2002 |
| Regulation | Unregulated |
| Account Types | Standard,ECN,Islammic AccountMinimum Deposit:$100,$5000,$10000Spreads:2 pips for Standard and Islamic Accounts |
| Trading Platform | MT5 |
| Customer Support | Email:Support@Gotradingco.Com |
GoTrading Information
Established in 2002 with headquarters in China, GoTrading is an unregistered broker offering Standard, ECN, and Islamic accounts among other types. Standard and Islamic accounts have 2 pips spread; the minimum deposits for these accounts are $100, $5000, and $10000 respectively. The broker emails clients via Support@Gotradingco.Com and employs the MT5 trading system.
Is GoTrading Legit or a Scam？
GoTrading is an uncontrolled broker since it runs free from any legal control. This lack of control implies that there is no outside power guaranteeing the company's adherence to financial criteria or safeguarding of investor interests, thereby endangering traders' major risk.
Downsides of GoTrading
Since the broker functions without any regulatory authority, investment risk is raised since no outside body ensures adherence to financial rules and customer interests.
The platform has attracted a lot of complaints on issues including forced liquidations, halted withdrawals, and bad trading advise, therefore indicating significant client unhappiness and maybe misbehaviour.
Though many ordinary traders might not be able to pay the quite high minimum deposit requirements for ECN and Islamic accounts, $5000 and $10000 respectively.
Account Types
GoTrading provides three different types of accounts:
1.Standard Account: Requires a minimum deposit of $100 and offers spreads of 2 pips.
2.ECN Account requires a minimum deposit of $5000.
3.The Islamic Account requires a minimum deposit of $10,000 and offers spreads of 2 pips.
Negative GoTrading Reviews on WikiFX
An essential comment part in WikiFX is exposure.
Before trading on unofficial platforms, we recommend users to check this part. It shows material and evaluate dangers. Please kindly visit our website for details.
GoTrading has 19 exposures on WikiFX. I will introduce 2 of them.
Exposure.1 Fraud
| Classification | Forced losses |
| Date | April 7th,2020 |
| Post Country | Hong Kong,China |
The client claimed that they were misled on WhatsApp, manipulated into gradually increasing their investments in order to make withdrawals, and finally incurred financial losses due to incomplete work.Multiple alternatives are at one's disposal:
https://www.wikifx.com/en/comments/detail/202004271622979680.html
Exposure.2 Withdrawal issues
| Classification | Withdrawal issues |
| Date | April 25th,2020 |
| Post Country | Hong Kong,China |
The client said they were driven to trade owing to market instability, which cost 350 thousand RMB; they were unable to withdraw money as the accountable parties vanished.You might visit:
https://www.wikifx.com/en/comments/detail/202004256232268290.html
Conclusion
GoTrading, China's unregistered broker, receives multiple allegations about forced losses and withdrawal issues. Trading with this broker puts you in risk without openness and control. Users should choose open policies governed brokers for better trading.
Review 19
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