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GOTMONEY_FX

GOTMONEY_FX
About company:

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 brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker GOTMONEY_FX makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for 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 virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. 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 brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of GOTMONEY_FX ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about GOTMONEY_FX on the website 4ex.review ?

    In order to leave a review about the broker, 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.

  • 3. Can we assume the broker GOTMONEY_FX decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers 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 broker. GOTMONEY_FX received a score of 1 of 5 on our resource.

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