menu
Got Money FX is an Australian derivatives and foreign exchange trader based in Brisbane, Australia.
Got Money FX provides a wide range of services and products specialized in derivatives and foreign exchange trading. Through partner networks, Got Money FX clients can receive education in futures, options, commodities and foreign exchange trading.
Got Money partners with brokers like AVA FX, Mirus Futures and Futures Path.
Got Money FX holds Australian Financial Services License No. 411323 and also offers ASIC licensing services and support for individuals or companies wishing to obtain an ASIC license or become an authorized representative.
Got Money FX has partnered with specialized brokerage firms to provide clients with access to a range of different markets. Clients can trade derivatives, foreign exchange, CFDs, options and futures with the broker's preferred partners.
Fund security
Got Money FX is licensed by Australia's sole regulator. ASIC monitors all activities of the financial market, as well as businesses and companies in Australia. The regulator has the right to audit any money transfer, regardless of whether they are commercial, investment or social. ASIC has repeatedly brought unscrupulous brokers to the surface. The regulator can influence the broker with fines or a ban on conducting financial activities, and even for life. Nevertheless, the level of confidence in ASICs is average. In the worst case, the regulator will not return the money to traders, will not have time to collect it from fraudsters, and will not prevent fraud. Therefore, if you are ready to invest large sums, we advise you to pay attention to brokers who work under the clear guidance of more stringent regulators, such as CySEC.
Trading conditions
Got Money FX provides data on spreads from its company and partner companies. Traders can see the spreads offered in the picture below.
It is worth noting that the 1.4 pip spread on EUR / USD is considered very profitable in the market.
Got Money FX offers traders to open an individual trading account, a joint trading account, a trust account. But the amount of the deposit is not announced, for this you need to contact the manager.
Available leverage is up to 1: 400.
Funding methods are also unknown, as well as the trading platform on which the broker trades.
Support service
The broker asks traders to contact support during business hours, but does not indicate opening hours. For communication, an e-mail address is specified, there is also a "call us" button, but the current phone number is not indicated. The only way to communicate is email. This is not enough. Modern brokers, in addition to phone and mail, also offer Skype support, and some even Viber or Whats app.
Criticism of traders
It was not easy to find any reviews about the company - as if they were being cleaned up. There are reviews on the network in which traders call GMFX a fraudulent company that does not pay money to its clients.
Pros:
regulated broker; the broker offers Forex advisors and a demo account.
Minuses:
the broker does not provide complete information about its trading services, for example, the size of the deposit or commission; support advises only via email.
GOTMONEY_FX is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
GOTMONEY_FX profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
.Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker or crypto exchnage.
In order to leave a review about the company, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. GOTMONEY_FX received a score of 1 of 5 on our resource.