Goat4x

Note: Goat4x's official website: https://goat4x.com/ is currently inaccessible normally.

Goat4x Information

Goat4x's domain was registered in Jun 2020 and the broker is said to locate in Kosovo and offers trading services in forex, commodities, shares and indices. Minimum deposit is $50 and leverage is up to 1:500. Trades can be executed on the advanced MT4/5 platforms.

Its website is now inaccessible, which is quite absurd for any broker who want to maintain customers. Worsely, operation without valid regulation from authority bodies further exacerbates its trustworthiness and reliability. And there's even a piece of WikiFX exposure about withdrawal issues. Thus it's wise enough for you to stay away from such a possible scam broker.

Regulatory Status

Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of Goat4x, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.

Downsides of Goat4x

Unavailable website: Goat4x's website cannot be opened currently, which indicates possibility of cease of operation.

Regulatory concerns: The broker operates without valid regulation by any financial institutions, meanig that it might not comply to industry standards. This heightens trading risks with them.

Limited customer support channels: Goat4x can only be reached via email, which will undoubtly delay customer response and decrease communication efficiency.

Limited transparency on trading conditions: Goat4x does not disclose any information about account details and commissions, which are essential benchmarks for clients to learn about their trading costs in advance.

WikiFX exposure: A user reported withdrawal difficulties with this broker, indicating that the broker is poor-performed on withdrawals and operation.

Long list of restricted countries: The broker does not provide services to dozens of countries, limiting its global reach and restricts investor activities.

What Can I Trade on Goat4x?

Goat4x offers trading in mainly four asset classes:

Forex (Foreign Exchange) refers to the global marketplace where currencies are traded against each other, with traders speculating on the value changes between different currency pairs.

Commodities are raw materials or primary agricultural products that can be bought and sold, such as gold, oil, or wheat, often traded on specialized exchanges.

Indices represent a statistical measure of the performance of a group of assets, typically stocks, within a particular market or sector, used to track overall market trends.

Shares are units of ownership in a company, allowing investors to participate in its profits and voting rights, typically traded on stock exchanges.

Account Type/Fees

Goat4x does disclose any account details, the only thing we know from limited resources is that the broker requires a minimum deposit of $50 and offers a spread of 1.7 pips for the major pair EUR/USD. But regarding the details about spread and commissions, there's not even a piece of word can be found.

Leverage

Goat4x offers leverage of up to 500x, which means you can control position 100 times of your initial capital.

However, you should always be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.

Trading Platform

Surprisingly, Goat4x enables traders to execute trades on the world-renowned MetaTrader 4 and 5 platforms, which are widely used around the globe for its advanced features and functions such as charting tools, analysis resources, market updates, etc. This is the only spotlight of this broker so far.

Deposit and Withdrawal

Goat4x only accepts payments through cryptocurrencies, including Bitcoin, Ethereum and USDT, which is such a typical practice of scam or fraud brokers, since crypto payments are anonymous and cannot be refunded.

Fees

Goat4x charges an inactivity of $10 per month for dormant accounts that are inactive within 6 months.