Recover Your Money From GoFX Scam: GoFX is a forex broker. GoFX is an upcoming forex broker with 25 currency pairs, CFDs, shares, commodities, energy, index, silver, bitcoin, gold and other cryptocurrencies for personal investment and trading options.
GoFX is situated in Saint Vincent and the Grenadines, a country in the Caribbean. SVG (Saint Vincent and the Grenadines) is an offshore zone where forex businesses are not regulated. And this means that there is no protection and zero guarantees on the security of clients’ funds. To be on the safer path it is better to consider GoFX as an unlicensed broker that can do whatever they deem fit with your funds because there is no regulatory body in place to question them.
From a trader’s perspective, this means that dealing with SVG-registered brokers is extremely risky because there are no guarantees for the security of funds and no authority to turn to if something goes wrong. And it usually does.
Recover Your Money From GoFX Scam
To protect yourself from scammers and the infamous volatility of the market, check where the broker is registered and if there is a regulatory body in place, most countries have a dedicated regulatory body in place and agencies in charge of the financial sector;
- The Cyprus Securities and Exchange Commission (CySEC)
- Commissione Nazionale per le Societa e la Borsa (CONSOB) for Italy
- The Financial Conduct Authority (FCA) – for the United kingdom
- The Australian Securities and Investments Commission (ASIC)
- The National Futures Association (NFA) – For the United States. And other financial regulators from Europe.
There is a long list of strict requirements brokers have to follow to be licensed, and most of these requirements are to ensure consumer protection in the market.
In Summary: Avoid going into business with GoFX because it is not a regulated broker. Many negative comments about traders losing their funds to the GoFX scam.
Scam Warning Signs to Look out for on Trading Platforms
- GoFX blocked your account, or you cannot log back into your account
- GoFX froze your account
- Money has been taken out from your account
- GoFX’s website has been taken down
- GoFX is not answering take your calls
- You noticed that GoFX took money out from your bank account without your permission.
- GoFX requests that you deposit more money into your account after losing a large sum of money.
How to recover funds lost to GoFX scam
You know by now that Gofx should be considered a scam due to its lack of license which further propels the firm’s fraudulent activities in the forex market. If you have already invested in the platform, you should go and submit a withdrawal request if you haven’t. The broker will likely place your withdrawal request on hold forever, you should contact the support centre about this through email or other communication methods made available.
Two things will likely happen; the broker will likely ignore you or they might tell you to make another deposit to be able to withdraw your funds, giving different absurd reasons for such request, they might say there is a withdrawal limit or that the fund is for the bank charges for the transfer. No matter the reason, you should never send money to them again, because this is another scheme to further scam you.
You should gather all necessary evidence to prove that you have been scammed by GoFX and file for a chargeback with your bank. A chargeback is a reversal of a credit card transaction. You have to structure a report that can convince your financial provider or Bank that you were scammed by the entity you transacted with. Filing for a chargeback is really tedious and we advise people without the financial know-how to find a Fund Recovery Expert or a Financial Adviser to help in the chargeback process. A good Fund Recovery Expert Knows what it takes to successfully convince the bank with evidence that you were scammed by GoFX.
There are a lot of case-specific variables involved that can differ from one case to the next. Some of the factors include the information and evidence you can provide, your bank’s policies, your deposit history, etc A Fund Recovery Expert can recognise which approach to follow in your case and other mechanisms that have to be in place for the chargeback to be successful.
Go to Duolabs today to hire the service of a reliable Fund Recovery Expert.
Duolabs is a platform with industry-standard Fund Recovery Expert to hire online, this can be seen in their success rate and transparency with clients doing operations. With over 300+ chargebacks files and a 96% success rate, you can trust Duolabs to make sure your chargeback is successful.
Recover Your Money From GoFX Scam