gomarketsforex.com is a CFD broker with a domain registered on July 31, 2024. It primarily offers trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies to retail and institutional clients. This broker does not provide services to jurisdictions where doing so would violate local laws or regulations.
Corporate Registration and Regulatory Status
Public information from the gomarketsforex.com website shows it operates under the trade name "GO Markets." The company is headquartered in Denver, USA, and is one of the top 50 largest financial services companies in the United States. Additionally, the broker claims to be regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA), with MSB ID: 31000263262302 and NFA ID: 0561418.
Upon investigation, the FinCEN website shows that MSB ID: 31000263262302 corresponds to "SMART GLOBAL." The NFA does not list any company with NFA ID: 0561418. Moreover, the broker uses the trade name and logo of GO Markets without authorization.
Additionally, the website design and content of gomarketsforex.com are identical to those of fraudulent broker sites like stockfxmarkets.com, Gold Harbor Finance, trustwalletltd.com, prudential-ltd.com, fxdecodefxs, and ogm-fx.
Therefore, gomarketsforex.com is in actuality a scam broker site that lacks any corporate entity or regulatory oversight.
Trading Instruments
gomarketsforex.com offers financial derivative tools including forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Up to dozens of major forex currency pairs including EUR/USD, USD/CAD, GBP/USD, and USD/JPY.
- Precious Metals: Various spot metal trades including gold (XAUUSD) and silver (XAGUSD).
- Crude Oil: U.S. crude oil (UsOIL).
- Indices: Nikkei Index (N225), German Index (GER30), S&P 500 Index (US500).
- Cryptocurrencies: Dozens of major digital currency pairs including Bitcoin (BTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD).
Account Opening Process
To open an account on gomarketsforex.com: go to the broker’s website, click "Open Account" at the top right corner, enter your name, email address, and set a password, upload ID proof, and submit the form. The account will be successfully registered after submission.
Trading Account Information
The gomarketsforex.com website only discloses information on spreads, trading leverage, and contract sizes. It does not reveal details on account types, trading commissions, minimum/maximum trade volumes, maximum positions/order sizes, margin levels, or minimum price precision.
- Base Currency: USD
- Spread: Floating spread, starting from 1 pip
- Trading Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
gomarketsforex.com claims to offer the MT5 trading platform for both desktop and mobile. However, the MT5 platform does not list gomarketsforex.com under its brokers.
Deposits and Withdrawals
gomarketsforex.com does not clearly specify supported deposit and withdrawal methods, fees, or minimum amounts on its website.
Conclusion
Traderknows reminds investors that gomarketsforex.com fraudulently uses the name and logo of the broker GO Markets to mislead investors. The website is actually a scam broker with no company entity or regulatory oversight. Additionally, the only contact method provided by gomarketsforex.com is through email. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
