Forex GOFX Trading Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.5

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.7

Business 1.0

Risk Control 1.3

Software 2.0

Regulatory 1.5

Terminal Snapshot

GOFX Trading Conditions

Registered Region Indonesia

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email N/A

Contact Number (+62) 21 3002 7788

Website gofx.co.id

Balanced Review

Pros & Cons

Pros

Access to diverse trading instruments including forex and commodities
Multiple trading platforms available: MT5 and Cerebro ECN Matching Engine
Demo account for practice trading without financial risk
Competitive spreads ranging from 0 to 40 pips
Various customer support channels including email, live chat, and phone

Cons

Not regulated by any recognized financial authority
Limited trading instruments (no indices, stocks, or cryptocurrencies)
High spreads ranging from 0 to 40 pips
Limited information on trading fees
Potential withdrawal issues reported by users

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	GOFX	CFForex	Mahadana	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Indonesia	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.5/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does GOFX Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Demo Account	Beginner traders	Practice trading without financial risk	Ideal for testing strategies and familiarizing with the platform

Account Opening Process

To open an account with GOFX, potential clients are required to submit personal, employment, and financial information. The process includes verifying identity through documentation such as an ID and proof of address. Clients have the flexibility to upgrade their accounts, such as transitioning to a professional account in the future, depending on their trading needs and activity.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies (0 – 40)	Not specified	Spreads may vary based on market conditions
Commodities (Gold, Crude Oil, Palm Oil, Tin)	Varies	Not specified	Competitive spreads available
Indices	N/A	N/A	Not offered
Stocks	N/A	N/A	Not offered
Cryptocurrencies	N/A	N/A	Not offered

Other Fees

GOFX may charge various fees related to trading and account maintenance. These include deposit and withdrawal fees, inactivity fees, platform usage fees (if applicable), overnight interest (swap rates), and currency conversion fees. It is important for clients to review these potential costs to understand their overall trading expenses.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

GOFX User Reviews

2.5

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Andi Prabowo

Jakarta

★ ★ ★ ★ ★

I faced significant issues with withdrawals. After trading for a while, I tried to withdraw my funds, but the process was delayed and complicated. Customer support was not very helpful in resolving my issue. This experience has made me cautious about trading with GOFX.

Siti Nurhaliza

Bandung

★ ★ ★ ★ ★

GOFX offers a robust trading platform, particularly with MT5. I appreciate the demo account feature, which helped me practice without financial risk. The spreads are competitive, and overall, my trading experience has been quite positive.

Budi Santoso

Surabaya

★ ★ ★ ★ ★

I had a terrible experience with GOFX. My withdrawal requests were constantly denied without clear reasons. The lack of regulation makes me feel unsafe trading here, and I would not recommend this broker to anyone.

Tina Amelia

Medan

★ ★ ★ ★ ★

GOFX has some good aspects, like the variety of commodities available for trading. However, the lack of regulatory oversight is a major concern. I had a decent experience with customer support, but I’m wary about the overall security of my funds.

Indonesia Market