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The WikiFX Score of this broker is reduced because of too many complaints!

GO4REX

Seychelles|5-10 years|
Retail Forex License|High potential risk|Offshore Regulated|

https://www.go4rex.com

Website

Rating Index

Influence

Influence

B

Influence index NO.1

Mexico 7.40

Surpassed 68.20% brokers

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Contact

+442038078564
support@go4rex.com
https://www.go4rex.com
FXCapital Ltd Suite C, Orion Mall Palm Street, Victoria Mahe, Seychelles
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+442038078564

Broker Information

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Company Name

FX Capital Ltd

Company Abbreviation

GO4REX

Platform registered country and region

Seychelles

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-05-18
  • The number of the complaints received by WikiFX have reached 43 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

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Pyramid scheme complaint
Expose
Unable to Withdraw

Scam. Unable to withdrawal.

Go4rex is a scam, they take advantage of someone who deposited 2,700 dollars and what happens when they tell me that I have to deposit 4,000 dollars more to be able to withdraw my capital. And that they cannot refund the money because they do not do it. But the investment entity said that they do not have access to my account. But they closed operations that I had open. Please help with this. I lent to be able to earn thinking that this platform would help me and it is not like that. I only want at least what I deposit.

2024-04-25 09:31
Unable to Withdraw

I AM NOT ALLOWED WITHDRAWALS. BY UNVERIFIED ACCOUNT

Due to false news in which they said that the President of Ecuador was investing in digital platforms, looking for the address that the President supposedly managed, a go4rex advisor contacted me to start my investment. On January 5, 2024 I made the minimum deposit of $100; Then several advisors began calling me to teach me how the platform works and to pressure me to invest additional securities. After several attempts I agreed to invest $1,000.00 in two payments of $500.00 each. When I asked them that I did not have access to some functions they told me that the account was not verified and that someone would call me to verify it, as several days passed, I wrote to support @go4rex.com to verify my account and allow me to make a small withdrawal to make sure I can do so. They have not answered my email or called me. The deposits of $100.00 and the two deposits of $500.00 (Total 1,100.00) are reflected in the account with other additional values. The problem is that they do not verify my account, and therefore, they do not allow me to withdraw a single cent. I hope you can help me recover those funds. You will know how to tell me what steps I should follow. I attach the deposits made. Sincerely, José RamosQuito. Ecuador

2024-01-13 04:22
Unable to Withdraw

I can't withdraw my money from this platform.

I deposited 700 dollars now, then I received a call and they told me that I had to invest 4000 dollars, which I am not going to deposit since there is balance in my account, all I need is to withdraw what I've invested at least. Time passed and I did not have any response, after this, I requested the total cancellation of my account on this platform and they continue to call me to deposit more money that I don't have to complete some processes on the platform and I did not have any answers either. I don't get any answer. I send them emails, and ask them to call me but I don't have any response. Deposits were made through these means.

2024-01-31 04:49
Unable to Withdraw

They won't let me withdraw

I invested 100 dollars, then the manager called me, telling me that I could make investments and earn a lot of money, he told me to invest 1000 dollars in PEMEX, which I told him I only had 800 dollars, and he told me not to worry. that they would give me a bonus so that I could start working and generating money, I deposited 900 dollars on November 29, and then he told me that by making that investment, we would be working in five days with the first withdrawal and so on, Then, due to my work duties, he called me on several occasions to tell me to invest 5 million dollars in bitcoin or gold, but I told him no that he would expect me to go more slowly, several days passed and he called me about my account. I was already making a lot of profits, so I could make my first withdrawal and I said yes, but he told me that I had to give 2000 thousand dollars to pay the swap, which he explained to me was a tax that the market asks for, and if not I do it, I will lose both my investment and my profit, I told him that I only had 1000 dollars that I did not have the 2000 thousand dollars, to which he told me not to worry that he would ask his boss to give me the other 1000 so that I I could make my first withdrawal, I deposited the thousand dollars and he mentioned that he would work on my retirement, he called me again to mention that they did not authorize him the 1000 dollars that, since it is a tax, has to be paid by the investor who obtained them because why? They were going on vacation and I was not going to be able to make the withdrawal, I got the 1000 dollars and deposited them, and he told me that he was already working on my withdrawal and that the accounting people would call me to verify my bank account information to make the deposit. That day happened and they didn't call me until the next day. They called me to verify the information and the person who called me told me that the deposit couldn't be made that day because since it was Saturday the bank wasn't working, which would be until Tuesday. that Monday was a holiday, Tuesday arrived and they called me that since it was a holiday the day before, they couldn't make the deposit, and they would call me the next day, which they didn't call me, I called my manager and he didn't answer me that whole week. Afterward, I received a deposit of 100 dollars which was not the total amount agreed upon, and they deported me 7000 thousand dollars, I insisted on calling and he answered me and told me that he would contact the accounting department to see what had happened, Two days later she called me and told me that they had already made the deposit of what I had requested for the 100 dollars when it was 7000 thousand, and she mentioned to me that I want to make a larger withdrawal and I said yes and she mentioned to me I was going to work on it and I asked him how long it would take for the deposit to be ready and he told me that it took 2 to 3 hours because my account was already registered, 2, 3, 4 hours passed and that whole day without any results from the deposit. I was calling my manager and he didn't answer me, I looked for the accounting number and he answered me and told me that she was calling me because she had an investor on the line, but then I realized that when I entered My investment account of 8 thousand dollars in 1 minute raises the account to 11 thousand dollars, and well, it seemed strange to me because the profit doesn't increase like that all of a sudden, and so I left it, I didn't give it any importance, when she After three hours she calls me and tells me that I'm sorry for the delay but that I was already going to my withdrawal she tells me to wait in line and after 7 minutes of waiting she tells me that I won't be able to make the withdrawal because I have to make a deposit of 3000 thousand dollars to be able to make my withdrawal, because my account has had a profit of 150% and that I had to pay that profit to which I mention that I do not have that money and he tells me then well I'm done here and I'll return it his account to his manager so that he can explain to him, the manager called me an hour later to explain to me that my account had been upgraded to silver and that was why I had to pay those 3 thousand dollars, I told him that I did not have them and that I no longer I would deposit more money because he had told me on Friday, December 22 that I could now make a withdrawal of 7 thousand dollars, which they had not given me except 100 dollars and he told me that that time it was to register my account. bank, I told him that I would not deposit any more money and that I did not have him to resolve the first thing he had told me, he told me that he would meet with the accounting department to see what they were going to support me with but this has already been three days and no He calls me and doesn't even answer me. I send the deposits and my go4rex account. I hope I can recover my money of 2,800 dollars because they already deported me 100 dollars I want to get my money back, thank you.

2024-01-11 13:58

    GO4REX · Company Summary

    Go4Rex Basic Information
    Registered Country/Area Seychelles
    Regulation Seychelles Financial Services Commission
    Minimum Deposit $250 (Variable on account type)
    Maximum Leverage 1:500 (Variable on account type)
    Spreads Variable (Depends on trading instrument)
    Trading Platforms GO4REX desktop version and mobile version
    Tradable Assets Stocks, Indices, Forex, Commodities, Cryptocurrencies
    Account Types Basic, Bronze, Silver, Gold, Platinum
    Customer Support Email, Telephone, Contact Form
    Payment Methods Online banking, Wire transfer, Credit card, NETELLER, Skrill, Bitcoin, etc.
    Educational Tools Video Courses, eBooks and Asset Index

    General Information

    GO4REX is a Seychelles-registered financial services provider, established in 2018, offering more than 1,000 financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. GO4REX is owned and operated by FX Capital Ltd which is regulated by the Financial Services Authority (FSA) in the Republic of the Seychelles under license number SD023. Traders can engage in trading stocks, indices, forex, commodities, and cryptocurrencies, offering diverse opportunities for investment and speculation. The broker offers a comprehensive selection of over 1,000 global assets, allowing traders to diversify their portfolios and take advantage of market movements. With the GO4REX desktop and mobile trading platforms, traders can stay connected and execute trades efficiently, benefiting from real-time charts and data display.

    The broker offers different account types, such as Basic, Bronze, Silver, Gold, and Platinum, with varying minimum deposit requirements and commission structures. Traders can choose the account type that best suits their trading preferences and goals.

    To support traders' growth and development, Go4Rex provides educational resources, including video courses, eBooks, and an asset index, allowing traders to enhance their trading knowledge and skills. Additionally, customer support is available through email, telephone, and a contact form, but it is a drawback that the platform dont offer online chat.

    Is Go4Rex legit or a scam?

    Go4Rex is regulated by the Seychelles Financial Services Commission (FSA) with license number SD023. The SFSC oversees financial activities in Seychelles, ensuring client fund protection, risk management, and ethical conduct. Go4Rex follows robust Know Your Customer (KYC) procedures, maintains segregated client accounts, and promotes risk transparency to provide a regulated trading experience.

    regulation

    Pros and Cons

    Go4Rex platform has its own set of pros and cons. On the positive side, it is regulated by the Seychelles Financial Services Commission, providing a level of security and regulatory oversight. The platform offers multiple deposit and withdrawal channels, a wide range of trading instruments, high leverage options, and abundant educational resources to enhance traders' knowledge. However, a notable drawback is the absence of live chat support, which may inconvenience traders in obtaining prompt assistance. Additionally, traders should be mindful of transaction fees associated with using the platform. It is important for traders to carefully consider these pros and cons and make informed decisions based on their individual trading needs and objectives.

    Pros Cons
    Regulated by Seychelles Financial Services Commission Transaction fees apply
    Multiple deposit and withdrawal channels No live chat
    Wide range of trading instruments
    High leverage options
    Educational resources available

    Go4Rex platform has its own set of pros and cons. On the positive side, it is regulated by the Seychelles Financial Services Commission, providing a level of security and regulatory oversight. The platform offers multiple deposit and withdrawal channels, a wide range of trading instruments, high leverage options, and abundant educational resources to enhance traders' knowledge. However, a notable drawback is the absence of live chat support, which may inconvenience traders in obtaining prompt assistance. Additionally, traders should be mindful of transaction fees associated with using the platform. It is important for traders to carefully consider these pros and cons and make informed decisions based on their individual trading needs and objectives.

    Market Instruments

    GO4REX 's offering includes some popular financial tradable instruments, such as Forex currency pairs, indices, stocks, commodities, and cryptocurrencies.

    Go4Rex is a brokerage firm, providing a diverse range of market instruments, catering to the needs and preferences of its traders.

    One of the key offerings of Go4Rex is its stock trading instruments. Traders can engage in buying and selling shares of publicly listed companies, allowing them to invest in well-established corporations and potentially benefit from their growth and profitability. In addition to stocks, Go4Rex offers a wide range of indices as trading instruments. Indices represent a basket of stocks from a specific market or sector, providing traders with a way to track the overall performance of a particular segment of the market.

    market-instruments

    Forex, or foreign exchange, is another prominent trading instrument provided by Go4Rex. The forex market allows traders to speculate on the fluctuations in currency pairs, providing opportunities for profit from the exchange rate movements between different countries' currencies.

    market-instruments

    Commodities trading is another option offered by Go4Rex. Traders can participate in the commodities market by buying and selling various physical goods, such as gold, silver, oil, natural gas, agricultural products, and more. Commodities can serve as a hedge against inflation or provide opportunities for speculative trading based on supply and demand dynamics.

    market-instruments

    Lastly, Go4Rex recognizes the growing popularity of cryptocurrencies and offers them as trading instruments. Cryptocurrencies, such as Bitcoin, Ethereum, and others, have gained significant attention in recent years. With Go4Rex, traders can engage in cryptocurrency trading, speculating on the price movements of these digital assets and potentially benefiting from the volatility and growth of the cryptocurrency market.

    market-instruments

    Minimum Deposit

    To meet different traders' trading needs and experience, GO4REX offers five different types of accounts: Basic (minimum deposit of $250), Bronze (minimum deposit of $1,000), Silver (minimum deposit of $2,500), Gold (minimum deposit of $10,000), and Platinum (minimum deposit of $25,000).

    The Basic account requires a minimum deposit of $250 and provides access to a range of trading instruments, including forex, commodities, indices, and major shares. The commission fee for this account is set at the standard rate.

    The Bronze account, with a minimum deposit of $1,000, offers traders commission discounts of up to 15%. In addition to the instruments available in the Basic account, Bronze account enjoy same available instruments as Basic account.

    The Silver account, requiring a minimum deposit of $2,500, provides even greater benefits. Traders with a Silver account can enjoy commission discounts of up to 65%. Alongside the instruments offered in the Bronze account, Silver account holders have the opportunity to trade US and ES shares, expanding their trading opportunities.

    The Gold account, with a minimum deposit of $10,000, offers substantial advantages. Traders with a Gold account can benefit from commission discounts of up to 75%. In addition to forex, commodities, indices, and US and ES shares, Gold account holders can also trade cryptocurrencies, diversifying their investment portfolio.

    For experienced and high-volume traders, the Platinum account offers exclusive features. With a minimum deposit of $25,000, Platinum account holders can enjoy commission discounts of up to 85%. This account type provides access to a wide range of instruments, including forex, commodities, indices, US and ES shares, cryptocurrencies, ETF US, and premium stocks.

    account-types

    GO4REX Leverage

    The leverage offered by Go4Rex varies depending on the chosen account type. The Basic, Bronze, and Silver accounts provide traders with a leverage of 1:200, offering increased trading power and flexibility. The Gold account offers a higher leverage of 1:300, allowing traders to amplify their positions even further. For those seeking the highest leverage available, the Platinum account provides a leverage of 1:500, enabling traders to maximize their trading potential. It's important for traders to consider their risk tolerance and trading strategies when selecting an account type and leverage ratio that best suits their individual needs.

    leverage

    Spreads & Commissions

    The broker charges fixed spreads as commission for all trading products offered. Forex main spreads: 4.5 pips for EURUSD, 4.7 pips for GBPUSD, and 5.3 pips for USDCAD. Major spreads on commodities: 2.1 pips on spot gold, 0.04 pips on spot silver, and 0.12 pips on WTI crude oil. Major spreads for indices: 5 pips for Nasdaq Composite, 3 pips for S&P 500, and 18 pips for Hang Seng 50. Major spreads for cryptocurrencies: Bitcoin spreads are 115, Litecoin is 2.4.

    Forex:

    EURUSD: 4.5 pips

    GBPUSD: 4.7 pips

    USDCAD: 5.3 pips

    Commodities:

    Spot gold: 2.1 pips

    Spot silver: 0.04 pips

    WTI crude oil: 0.12 pips

    Indices:

    Nasdaq Composite: 5 pips

    S&P 500: 3 pips

    Hang Seng 50: 18 pips

    Cryptocurrencies:

    Bitcoin: 115 pips

    Litecoin: 2.4 pips

    It's important to note that these spreads may vary due to market conditions. Traders are advised to stay updated with the latest spread information provided by Go4Rex to effectively manage their trading strategies and expenses.

    Go4Rex implements commission fees that are tailored to the different account types available. The Basic account operates with standard commission rates, while the Bronze account offers a 15% discount on commissions. Traders who opt for the Silver account can enjoy a generous commission discount of up to 65%, providing substantial cost savings. For those with a Gold account, the commission discount increases to 75%, enabling traders to further reduce their trading expenses. The Platinum account offers the highest commission discount of up to 85%, providing significant savings for high-volume traders. These varying commission fees cater to traders of different experience levels and trading volumes, allowing them to select an account type that suits their specific requirements and trading preferences.

    GO4REX Trading Platform

    GO4REX offers traders a GO4REX desktop version and mobile version trading platform. The GO4REX desktop trading platform balances simplicity and sophistication, enabling traders to access over 1,000 global assets from the global forex, stock, and commodity markets as well as a range of major indices to trade, with one-click order execution, real-time charts, and real-time data display. The GO4REX iOS and Android platforms provide traders with the freedom and flexibility needed to trade effectively, and traders can trade freely at any time and from any location.

    trading-platform

    Deposit & Withdrawal

    GO4REX welcomes several flexible deposit and withdrawal methods, mainly online banking, wire transfer, credit card, NETELLER, Skrill, Bitcoin, etc. The minimum withdrawal amount is $100 for wire transfers and $50 for all other methods. The first withdrawal is free for traders with platinum accounts, and a 3.5% service fee is charged for all other accounts. The maximum service fee for a single withdrawal is capped at $3,500. Service fees for wire withdrawals will be charged to the beneficiary. Additionally, the commissions of wire withdrawals will be charged to the beneficiary.

    image.png

    Customer Support

    The Go4REX customer support can be reached through several contact channels, including email, telephone, as well as a contact form. However, live chat support is not available, though it is the quickest way to get responded. Besides, there is also a “FQA” section designed for most common answers.

    Educational Resources

    Go4Rex offers a variety of educational resources to enhance traders' knowledge and experience. They provide video courses covering topics such as forex, CFDs, and cryptocurrencies, allowing traders to learn at their own pace. The platform also offers a range of eBooks that delve into various trading subjects, offering valuable insights and practical tips. Additionally, Go4Rex provides an asset index that gives traders a comprehensive overview of tradable instruments and their characteristics. These educational resources aim to help traders stay informed about market trends, learn effective trading strategies, and make informed decisions. Whether traders are beginners or experienced professionals, Go4Rex's educational resources are designed to improve their trading skills and achieve their financial goals.

    Conclusion

    In conclusion, Go4Rex is a brokerage firm offering a diverse range of trading instruments, providing traders with access to global markets. The advantages of Go4Rex include a wide selection of trading assets, real-time data, and one-click order execution. And, the firm is regulated by the Seychelles Financial Services Commission. However, it is important to note that Go4Rex does not offer live chat support, which may inconvenience some traders seeking immediate assistance. Despite this drawback, Go4Rex provides educational resources and other customer support channels to assist traders in their journey.

    FAQs

    F: Is Go4Rex regulated?

    Q: Yes, Go4Rex is regulated by the Seychelles Financial Services Commission.

    F: What types of trading instruments are available on Go4Rex?

    Q: Go4Rex offers a variety of trading instruments, including stocks, indices, forex, commodities, and cryptocurrencies.

    F: What are the minimum deposit requirements for opening an account on Go4Rex?

    Q: The minimum deposit requirements vary depending on the account type, starting from $250 for the Basic account.

    F: What are the available deposit and withdrawal methods on Go4Rex?

    Q: Go4Rex supports various deposit and withdrawal methods, including online banking, wire transfer, credit card, NETELLER, Skrill, and Bitcoin.

    F: Are there any fees associated with deposits or withdrawals on Go4Rex?

    Q: Go4Rex does not charge any fees for deposits, but there may be fees for withdrawals depending on the chosen method.

    F: Does Go4Rex offer educational resources for traders?

    Q: Yes, Go4Rex provides educational resources such as video courses, eBooks, and an asset index to help traders enhance their knowledge and skills.

    F: How can I contact the customer support team at Go4Rex?

    Q: You can reach Go4Rex's customer support team through email, telephone, or by using the contact form available on their website.

    User Reviews

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    13

    Comments

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    Rosita7712
    3-6months
    This platform steals from you, in addition to all the money you can invest, your sleep, your peace of mind, you fight with banks, friends and family because you cannot pay the debts contracted with these scammers...
    2024-03-04 08:53
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    0
    0
    zito
    3-6months
    THEY ARE THIEVES, THEY STEAL MANY PEOPLE’S RESOURCES ON A DAILY BASIS. GO4REX. IT'S A DANGEROUS GANG AND THE FEDERAL POLICE DOES NOTHING.
    2023-12-25 20:31
    Reply
    0
    0
    rodrigo1243
    6-12months
    Hello, I'm from Chile. I was looking for an investment option and without having any knowledge of the world of brokers, a few days ago through a Facebook link an advertisement for Go4rex appeared to me. I naively decided to try the platform, guided by what it said, and made a minimum investment of $250. After that, trying to inform myself, I discovered all the bad comments and people who did not get their money back. I sent an email with the intention of closing the account and requesting my money back. The agent communicates with me and technically mentions that it was not possible that I did not close the trade that the account had generated profits and that to make a withdrawal of these you had to pay 19%, which is the IVA of my country corresponding to the profit that it had been generated. The page clearly shows a profit but at the time of withdrawal they mention that to do so you must pay more than 1000 dollars because those 250 that you invest become more than 4000 thousand dollars and to withdraw them you must close the position in the market and make the withdrawal is where they ask you for that 19% of that amount. and they tell you then you will lose your investment if you don't pay
    2023-09-05 22:36
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    FX1257448420
    more than one year
    My time with GO4REX was a very bad experience but the above made sure they didn't run away with my money. Please stay away and choose those regulated brokers.
    2023-02-27 16:19
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    4rexkill
    more than one year
    Go4rex operates in Latin America scamming all naive customers. Unregulated fake broker. Misleading advertising, 0% Recommended.
    2023-01-09 14:26
    1
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    FX1048710259
    more than one year
    Although this company offers more than 1,000 financial products, and in theory I can trade the financial products I like, I saw that they actually charge fees for withdrawals... The fees charged by those payment institutions have already made me uncomfortable Yes, the company charges extra. Why don't you charge me all my winnings once and for all?
    2022-11-27 10:00
    1
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    FX1043240710
    more than one year
    I saw a lot of good reviews about this broker on the Internet, and it seems to be very good, but the problem is that their official website can't be opened now, and I don't know what happened. I checked their regulatory information and found that the regulatory license they hold is also offshore.
    2022-11-24 10:22
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