Company Profile
Company Profile
Review summary
Note:GoTrading's official website:http://www.gotradingco.com/index.html is currently inaccessible normally.
| Aspect | Information |
| Company Name | GoTrading |
| Registered Country/Area | China |
| Founded Year | 2002 |
| Regulation | Unregulated |
| Account Types | Standard,ECN,Islammic AccountMinimum Deposit:$100,$5000,$10000Spreads:2 pips for Standard and Islamic Accounts |
| Trading Platform | MT5 |
| Customer Support | Email:Support@Gotradingco.Com |
GoTrading Information
Established in 2002 with headquarters in China, GoTrading is an unregistered broker offering Standard, ECN, and Islamic accounts among other types. Standard and Islamic accounts have 2 pips spread; the minimum deposits for these accounts are $100, $5000, and $10000 respectively. The broker emails clients via Support@Gotradingco.Com and employs the MT5 trading system.
Is GoTrading Legit or a Scam？
GoTrading is an uncontrolled broker since it runs free from any legal control. This lack of control implies that there is no outside power guaranteeing the company's adherence to financial criteria or safeguarding of investor interests, thereby endangering traders' major risk.
Downsides of GoTrading
Since the broker functions without any regulatory authority, investment risk is raised since no outside body ensures adherence to financial rules and customer interests.
The platform has attracted a lot of complaints on issues including forced liquidations, halted withdrawals, and bad trading advise, therefore indicating significant client unhappiness and maybe misbehaviour.
Though many ordinary traders might not be able to pay the quite high minimum deposit requirements for ECN and Islamic accounts, $5000 and $10000 respectively.
Account Types
GoTrading provides three different types of accounts:
1.Standard Account: Requires a minimum deposit of $100 and offers spreads of 2 pips.
2.ECN Account requires a minimum deposit of $5000.
3.The Islamic Account requires a minimum deposit of $10,000 and offers spreads of 2 pips.
Negative GoTrading Reviews on WikiFX
An essential comment part in WikiFX is exposure.
Before trading on unofficial platforms, we recommend users to check this part. It shows material and evaluate dangers. Please kindly visit our website for details.
GoTrading has 19 exposures on WikiFX. I will introduce 2 of them.
Exposure.1 Fraud
| Classification | Forced losses |
| Date | April 7th,2020 |
| Post Country | Hong Kong,China |
The client claimed that they were misled on WhatsApp, manipulated into gradually increasing their investments in order to make withdrawals, and finally incurred financial losses due to incomplete work.Multiple alternatives are at one's disposal:
https://www.wikifx.com/en/comments/detail/202004271622979680.html
Exposure.2 Withdrawal issues
| Classification | Withdrawal issues |
| Date | April 25th,2020 |
| Post Country | Hong Kong,China |
The client said they were driven to trade owing to market instability, which cost 350 thousand RMB; they were unable to withdraw money as the accountable parties vanished.You might visit:
https://www.wikifx.com/en/comments/detail/202004256232268290.html
Conclusion
GoTrading, China's unregistered broker, receives multiple allegations about forced losses and withdrawal issues. Trading with this broker puts you in risk without openness and control. Users should choose open policies governed brokers for better trading.
FX1917247976
Hong Kong
On Li Guoqiang’s recommendation, I placed about 30 lots EMHI.T and NATI.X. I profited $17110 but the platform closed my position compulsorily, causing $13200 losses. Then he told me to add 15 lots. After doing so, all my fund was gone within 5 minutes. The remaining $1600 or so was unable to be withdrawn.
Exposure
FX3004504155
Hong Kong
I deposited 200 thousand RMB and traded EMHI.T and NATI.X with the guidance of Li Guoqiang. But the remaining 150 thousand yuan is unavailable. The customer service has blocked me.
Exposure
风和日丽842
Hong Kong
Due to the market volatility, Li Guoqiang induced us to trade EMHI.T and NATI.X. After scamming me out of 350 thousand RMB, both Li and service Xiao Qin disappeared. Though I have called the police, no one dealt with it. I am furious.
Exposure
冰冰棒
Hong Kong
The teacher gave adverse recommendation in the livestreaming room,causing forced liquidation.
Exposure
天空构想广告张哥
Hong Kong
GoTrading is simply a scam platform, in which Li Guoqiang and Fan Xiaowen are definitely fake names. It blocked me. I have called the police.
Exposure
强强练手
Hong Kong
The so-called Li Guoqiang analyst took us to trade foreign funding. After depositing the fund, the withdrawal is unavailable.
Exposure
牛牛33593
Hong Kong
Having applied for the withdrawal on April 16th, I was blocked by the platform on WeChat. Please call the police as soon as possible.
Exposure
FX3004504155
Hong Kong
Due to the market volatility, teacher Li Guoqiang took us to trade EMHI.T and NATI.X. At first, there was a little profit and the withdrawal was feasible. When it came to 170 thousand yuan, the withdrawal became unavailable. The customer service gave no respond. What’s more, I couldn’t log in to my account.
Exposure
张晓东
Hong Kong
I was pulled into a WeChat inexplicably, in which teacher Li Guoqing taught on stock and then EMHI.T and NATI.X. It is a rip-off. Now the withdrawal is unavailable.
Exposure
FX1473398183
Hong Kong
I was pulled into a group, in which were all frauds. The teacher Li took us to trade in GoTrading . Having made a little profits, I suffered constant losses. The customer service kept holding off with grinding excuses. Then I couldn’t log in to my account, only to find all fund is doomed.
Exposure
牛牛33593
Hong Kong
The teacher Li Guoqiang took members to trade EMHI.T and NATI.X. When I applied for the withdrawal, both the assistant and the customer service deleted me. How to seize this gang of fraud?
Exposure
FX3004504155
Hong Kong
I traded NATI.X and EMHI.T on GoTrading , keeping making losses. There was only 1.07m dollars left. I wanted to withdraw fund, while it gave no access to it.
Exposure
FX3980870265
Hong Kong
I was accidentally pulled into a a WeChat group, in which teacher Li Guoqiang taught on stock trading, boasting an ambience of profit. Then, with the excuse of market volatility, he inveigled us to trade EMHI.T and NATI.X on MT5. I deposited 24.5 thousand dollars. But due to his adverse guidance, sometime there was only $3000 left in my account. When I recovered losses, I wanted withdraw the 16.8 thousand balance. But ROCKFORT gave no access to my balance and even banned my account.
Exposure
小二郎30459
Hong Kong
I couldn’t make withdrawals. The customer service is out of contact. My trading record was also deleted. The referrer who invited me has also deleted me. How can I take the money back?
Exposure
FX1186054992
Hong Kong
I joined the GoTrading on the recommendation of teacher Li Guoqiang, who made a brief introduction on Forex products(EMHI.T and NATI.X). After I deposited fund, only to find that this platform could manipulate on profit data. I have made the withdrawal for 3 times, while none of which is available. The customer service is out of contact. Don’t believe this gang of fraud! Li claimed to set up his private fund and divided the clients into different groups according to their fund. The first group: Above 1m with profit goal at 160%; The second group: 500 thousand to 1m with profit goal 120%; The third group: 200 to 500 thousand with profit goal 80%; The preparation group: Less than 200 thousand with profit goal 50%.
Exposure
FX1186054992
Hong Kong
The teacher sent the message into the group and inveigled us to follow the operation guidance. The timely funding process was promised, while the withdrawal is yet to be received for 3 times.
Exposure
__Co.YoaL
Hong Kong
GTG, cooperating with a stock group, inveigled clients to trade. After pointing out that the remittance screenshot was fake, I was blocked by them, as well my account closed.
Exposure
逗逗逗
Hong Kong
The platform froze clients’ accounts maliciously, giving no access to withdrawal.
Exposure
FX2719698844
Hong Kong
1.The platform deleted my account record maliciously. One can see from the pic 1 that it has cleared my trading data and profit for 4 to 5 times. 2. The pic 2 shows that the withdrawal is unavailable.
Exposure