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

Gomax

United Kingdom|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://gomaxltd.net/en/index1.html

Website

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Contact

support@gomaxltd.com
https://gomaxltd.net/en/index1.html
3 Queen Victoria St, London EC4N 4TQ U.K
The WikiFX Score of this broker is reduced because of too many complaints!

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

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Broker Information

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Company Name

Gomax

Company Abbreviation

Gomax

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-02-27
  • 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 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Resolved

Profit income tax must be paid before withdrawals can be made

Profit income tax must be paid before withdrawals are made, suspected of defrauding investors

2023-10-17 18:11
Unable to withdraw

Newcomer activity: deposit 100,000 US dollars and get 10,000 US dollars back

I met a person named Lin Xiansheng on Instagram, who induced me to download soontrad5 and taught me how to search for the GOMAX platform to do forex trades, how many points to buy, what points to use the platform, and how to withdraw money. I deposited 2 million Korean won in the beginning and made two deposits, making profits of 61.2 and 159.6 respectively. Then he taught me how to withdraw money. The second deposit was 20 million won, divided into two times, with profits of 2223 and 1950 respectively. Then he said that there is a new member event on the platform, so go to the customer service for consultation. The customer service asked me to deposit 100,000 US dollars and get a rebate of 10,000 US dollars. Since I didn’t have enough Korean won, I asked the customer service if I could deposit money in RMB, and he said yes. When I transferred money to the acceptor's card number, the bank directly froze my account. The next day, I received a call from a friend saying that the anti-fraud center called and asked me not to transfer money to that person. I went to withdraw my account balance, but was rejected. He said that the new member activity was not completed, and that I was threatened by customer service, and the police are currently handling it.

2023-10-31 00:23

    Gomax · Company Summary

    Gomax Review Summary
    Founded 2015
    Registered Country/Region United Kingdom
    Regulation NFA (general registration)
    Market Instruments CFDs, futures, index
    Demo Account Unavailable
    Leverage 1:100
    EUR/ USD Spreads 0.0 pips
    Trading Platforms SoonTrade5, BitgetGPX, and a web-based platform
    Customer Support Email, support@gomaxltd.com

    What is Gomax?

    Gomax, founded in 2015, is a regulated broker, overseen by NFA. In terms of trading conditions, Gomax provides spreads starting from 0.0 pip, enabling cost-effective trading. Moreover, Gomax offers a selection of trading platforms, including SoonTrade5, BitgetGPX, and a web-based platform, presenting traders with a variety of options to suit their individual preferences and requirements.

    Gomax's home page

    In the upcoming article, we will assess the broker's features from different angles, presenting you with concise and well-structured information. If you're interested, please continue reading. Towards the end, we will summarize the broker's characteristics for a quick and comprehensive understanding.

    Pros & Cons

    Pros Cons
    • Regulated by NFA
    • No demo accounts
    • A range of trading instruments
    • No social media presence
    • Competitive spreads
    • Limited communication channels
    • Multiple trading platforms and mobile apps

    Pros:

    - Regulated by the National Futures Association (NFA), providing a level of credibility and accountability.

    - Offers a range of trading instruments, allowing for diversification and flexibility in trading strategies.

    - Competitive spreads starting from 0.0 pip, potentially reducing trading costs.

    - Provides multiple trading platforms and mobile apps, offering convenience and accessibility to traders.

    Cons:

    - No demo accounts available, limiting the opportunity for traders to practice and test strategies in a risk-free environment.

    - No social media presence, potentially limiting informational updates and community engagement.

    - Limited communication channels, which may hinder prompt customer support or access to assistance when needed.

    Is Gomax Safe or Scam?

    Gomax holds a general registered National Futures Association (NFA) license, a highly regarded self-regulatory organization in the derivatives industry of the United States. It has a proven track record of several years and has garnered favorable feedback from numerous satisfied customers, establishing itself as a dependable and trustworthy broker.

    Nevertheless, it is acknowledged that all investments carry inherent risks. Traders are advised to take thorough research and exercise caution when making any investment decisions.

    general registered NFA license

    Market Instruments

    Gomax offers over 80 trading instruments across various asset classes to cater to different trading preferences. These instruments include Forex, Futures, and CFDs (Contracts for Difference).

    - Forex: Gomax provides access to the foreign exchange market, allowing traders to buy and sell currency pairs. This enables traders to speculate on the price movements of major global currencies, such as USD/EUR or GBP/JPY.

    - Futures: Gomax enables trading in futures contracts, which are standardized agreements to buy or sell an asset at a predetermined price and date in the future. Traders can trade on the price movements of commodities (such as oil or gold) and stock indices (such as the S&P 500).

    - CFDs: Gomax also offers CFD trading, which allows traders to speculate on the price movements of various financial instruments without owning the underlying asset. With CFDs, traders can trade on the price fluctuations of stocks, indices, commodities, cryptocurrencies, and more.

    Market Instruments

    Leverage

    Gomax offers a maximum leverage of 1:100. It isa tool that allows traders to control larger positions in the market with a smaller amount of capital. For example, with 1:100 leverage, a trader can control a position that is 100 times larger than their initial investment.

    Leverage can be beneficial for traders as it amplifies potential profits. With a smaller amount of capital, traders have the opportunity to access larger market positions and potentially earn higher returns. However, while leverage may offer the potential for higher returns, it also comes with increased risk. ial to consider the accompanying risks and to approach leverage judiciously.

    Spreads

    Gomax offers competitive spreads starting from 0.0 pip. The spread is the difference between the bid and ask price of a financial instrument and represents the cost of trading. A lower spread indicates tighter pricing and can be advantageous for traders as it reduces the cost of entering and exiting trades.

    By offering spreads from 0.0 pip, Gomax aims to provide traders with highly competitive pricing and efficient trading conditions. This allows traders to potentially maximize their profits by reducing the impact of transaction costs on their trades.

    Trading Platforms

    Gomax offers its clients many trading platforms, including SoonTrade5, BitgetGPX, and a web-based platform. These platforms are designed to provide a high-quality and convenient trading experience for users.

    • SoonTrade5

    SoonTrade5 is a professional application specifically tailored for optical stores. It serves as a purchasing and sales management tool, allowing users to efficiently manage their inventory and streamline their business operations. The platform offers a simple and understandable interface, ensuring a good user experience. Users can access SoonTrade5 at any time and from anywhere, as it is available online 24/7.

    SoonTrade5
    • BitgetGPX

    BitgetGPX, on the other hand, is an app designed to cater to the needs of traders. It focuses on creating a better user experience and offers convenient functions to help users solve their trading problems. The platform is committed to continuous improvement and optimization based on user feedback. Users are encouraged to provide suggestions and opinions through email or comments, which will be considered for future updates.

    BitgetGPX
    • Web-Based Trading Platform

    Additionally, Gomax also provides a web-based trading platform, which offers flexibility and accessibility for traders. This platform allows users to access their trading accounts through a web browser, eliminating the need for downloading and installing separate applications.

    Web-Based Trading Platform

    Customer Service

    Customers can visit their office or get in touch with customer service line using the information provided below:

    Email: support@gomaxltd.com

    Address: 3 Queen Victoria St, London EC4N 4TQ U.K

    contact details

    Conclusion

    In conclusion, Gomax is a regulated broker overseen by NFA. Gomax offers a wide range of trading instruments across various asset classes, including Forex, Futures, and CFDs. Additionally, Gomax offers multiple trading platforms, including SoonTrade5, BitgetGPX, and a web-based platform, catering to different trading preferences and ensuring flexibility and accessibility for traders.

    However, it's important to note that like all investments, there are risks involved, and traders should carefully consider their options before trading.

    Frequently Asked Questions (FAQs)

    Q 1: Is Gomax regulated?
    A 1: Yes. It is regulated by NFA (general registration).
    Q 2: How can I contact the customer support team at Gomax?
    A 2: You can contact via email, support@gomaxltd.com.
    Q 3: Does Gomax offer demo accounts?
    A 3: No.
    Q 4: Does Gomax offer the industry leading MT4 & MT5?
    A 4: No. Instead, it offers SoonTrade5, BitgetGPX, and a web-based platform.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    User Reviews

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    EÐÐÏэ.
    more than one year
    They promised me low spreads like it was a grand feast. But once I settled in for my two-week trading stint, all I tasted were big spreads, like 12.5 pips on the eur/jpy pair, and trading execution speeds slower than molasses in January. Honestly, I felt duped.
    2024-02-06 18:30
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    Dreams come True
    more than one year
    Hey folks, just gotta share my take on Gomax. It's a bit like a trading wonderland with over 80 instruments to play with – Forex, Futures, and CFDs. Picture this: trading currencies like USD/EUR, dabbling in futures contracts for oil or gold, and speculating on stocks and cryptocurrencies without owning them. It's a ride, for sure. If you're into exploring the trading universe, Gomax has the options. Just remember, it's a rollercoaster out here, so trade smart!
    2023-12-05 14:24
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    0
    0
    Bcctaion
    more than one year
    Time to spill the beans on Gomax! Those spreads starting from 0.0 pips? A trader's dream. Platforms – SoonTrade5, BitgetGPX, and the web-based one – give you options, but here's the curveball – no demo accounts. For someone like me who likes to play it safe before diving in, that's a miss. Now, the NFA regulation adds a layer of trust, which is cool. It's a bit of a trade-off, folks – choose wisely!
    2023-12-04 18:57
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