Overview of Go4Rex Scam Review:
Founded in 2017, Go4Rex claims to be the world’s best forex broker that offers trade in forex, stocks, commodities, and indices. The company also claims on its website to be solely dedicated to helping the traders earn the maximum. Even after all this, Go4Rex has received a lot of complaints and negative reviews on the internet. Read the Go4Rex review and find out more about the Go4Rex scam.
Regulation plays a very important role in the finance market. Legally, no brokerage firm can operate in the market without being regulated by a regulator from the region of their operation. The regulators have been formed to make sure that the brokerage firms work towards the interest of the traders and not with the motive of scamming them. This idea was executed when the scams were on a rise in the market. As for our case, we investigated all of the pages on their website to look for a license that was not present on the home page. We soon realized that Go4Rex does not have a license from any of the regulators, including the top-tier regulators, around the world. A broker without a regulation means that it does not come under any of the regulators and therefore the rules that include the traders getting compensation for a loss do not apply to Go4Rex. Therefore, this gives us our first red flag against the Go4Rex scam in this Go4Rex review.
Go4Rex Minimum deposits, Leverages, and Spreads:
Minimum deposits, Leverages, and Spreads are decision-makers in the process of deciding whether the brokerage firm offering these is a legit broker or a scam broker. Minimum initial Deposits are generally advised by the regulators to avoid as it is just another way for the firms in extracting money from the traders. The minimum initial deposit demanded by Go4Rex is 250 USD. Now, demanding a minimum initial deposit of 250 USD is very common between the scam brokers and therefore, this gives us yet another red flag against the Go4Rex scam.
The leverage offered by Go4Rex is also pretty high. Go4Rex offers leverage of 1:200 to their valuable customers. Although it is tempting for the customers to opt for trades with high leverage, it is actually very harmful. Leverage affects your chance of winning or losing the trade.
Go4Rex Deposits and Withdrawals Methods:
Go4Rex offers a number of varieties of deposit and withdrawal methods. The company offers Bank transfers, Debit Cards, Credit Cards, Skrill, and Neteller. Go4Rex offers the same methods, that is, Debit Cards, Credit Cards, Bank transfers, Skrill, and Neteller for their withdrawal options as well. There wasn’t much information about if the company demands commission when withdrawing.
Conclusion: Is Go4Rex a Scam or Legit?
In order to sum up all that has been said above, we can safely say that Go4Rex is a complete scam. We request our readers to be extremely cautious if they are trading with this unregulated firm or just to avoid it altogether. We must always trade and invest with brokers that are not regulated.
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