GoMarketFX.com Review: Regulatory Status and Trading Conditions

[Evgeny Lebedev]

Regulatory Status and Licensing

GoMarketFX.com claims to be a regulated broker, citing a license number (312/16) purportedly issued by the Cyprus Securities and Exchange Commission (CySEC). However, this license number actually belongs to a different, legitimate entity. CySEC has issued a warning stating that GoMarketFX.com is not authorized to provide investment services or perform investment activities.

The domain GoMarketFX.com was registered in January 2025, and the website appears to mimic the branding and regulatory information of a legitimate broker. This suggests that GoMarketFX.com is operating without proper authorization and may be attempting to deceive investors by presenting itself as a regulated entity.
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Trading Conditions and Specifications

GoMarketFX.com offers trading in various financial instruments, including forex, commodities, indices, and cryptocurrencies. The broker advertises tight spreads and leverage up to 1:500. However, specific details about account types, minimum deposit requirements, and trading fees are not transparently disclosed on the website. The lack of clear information on trading conditions makes it difficult for potential clients to assess the broker's offerings and compare them with industry standards.

Technological Infrastructure and Platforms

The broker provides access to a web-based trading platform, referred to as "WebTrader." While the platform is described as user-friendly and suitable for both beginners and experienced traders, there is limited information about its features, security measures, and compatibility with other trading tools. The absence of detailed technical specifications and third-party platform integrations may limit the trading experience for clients seeking advanced functionalities.

Financial Operations (Deposits and Withdrawals)

GoMarketFX.com supports deposits and withdrawals via credit cards and Bitcoin transfers. The broker requires clients to complete a verification process, including the submission of identification documents, before processing withdrawals. Notably, withdrawals to credit cards are limited to the amount of the initial deposit, excluding profits and bonuses, which must be withdrawn via wire transfer. Clients have reported difficulties in withdrawing funds, with some alleging that their accounts were blocked after refusing to pay additional fees. Such practices raise red flags about the broker's financial operations and commitment to client fund security.

Reputation Analysis and Customer Support

GoMarketFX.com has received mixed reviews from clients. While some users praise the platform's user interface and customer support responsiveness, others report negative experiences, including withdrawal issues and account access problems. The broker offers customer support via email, Telegram, and Facebook, claiming 24/7 availability. However, the effectiveness and reliability of these support channels remain questionable, given the reported client grievances.

Conclusion about GoMarketFX.com
 
GoMarketFX.com exhibits multiple high-risk indicators: lack of regulation, vague trading conditions, unreliable withdrawal procedures, and a questionable reputation. These are textbook signs of a potentially fraudulent brokerage operation

Investors are strongly advised to avoid any financial engagement with GoMarketFX.com