GOFX Broker Scam or Legit – Full Regulation & Safety Breakdown

Is GOFX a Legit and Safe Broker? Expert Insights on Safety and Licensing

GOFX is a registered brokerage operating under the legal entity TouchStone Markets Limited, licensed by the Seychelles Financial Services Authority (FSA) with license number SD118. While the license confirms that the broker is officially registered, it is considered offshore and lacks the strict investor protections found in Tier-1 regulatory jurisdictions like the UK‘s FCA or Australia’s ASIC.

This makes GOFX a legally registered but offshore-regulated broker. Traders must understand that while it is not an outright scam, using an offshore-regulated platform involves higher counterparty risk and limited recourse in the event of disputes.

Common Questions About GOFX's Legitimacy and Safety

Is GOFX regulated by any Tier-1 authority like FCA or ASIC?

No. GOFX is only regulated by the FSA in Seychelles, which is an offshore regulator.

Is GOFX a scam?

There is no public evidence of fraudulent activity. However, it operates under an offshore license, so users should exercise caution and start with small deposits.

Can GOFX be trusted with large investments?

We advise against depositing large amounts with any offshore broker without first testing withdrawals and customer support responsiveness.

Does GOFX offer investor protection?

No. Seychelles FSA does not provide investor compensation schemes. Your funds are not covered like they would be under FCA or ASIC.

What are the risks of using an offshore-regulated broker?

You face limited legal protections, potential withdrawal delays, and higher risk in dispute resolution.

Has GOFX been blacklisted by any major regulators?

No official warnings or blacklists have been issued by major authorities as of now.

Who Regulates GOFX and What Does That Mean?

GOFX is regulated by the Seychelles FSA under an offshore license. While this allows the firm to operate legally, it does not offer the investor protection standards seen in top-tier jurisdictions.