Goat4x-Overview of Minimum Deposit, Spreads & Leverage

GENERAL INFORMATION

Goat4x is a trading name of TRINKET SUPPORT LLC, a company allegedly based in Kosovo, which itself is a problem.

Goat4x broker is not licensed anywhere, it does not provide us with an actual address and that is more than enough to avoid it. The only way to reach the broker is through that form – and who knows if it even replies. This is not only incredibly unprofessional, but inconvenient as well, as we do not know what regulatory body should even be responsible for issuing Goat4x a license.

According to the Legal page, Trinket Support LLC is the company that owns this brokerage. Our investigation led us to a company whose residence in Hong Kong. The fact that they claim to reside in Kosovo is beyond us.

MARKET INSTRUMENT

There are five trading assets on offer on this false trading platform. These assets include Commodities, Crypto, FX, Indices, and Stocks. Theres audacious leverage of 1:500, which is a ploy to lure investors.

ACCOUNT AND LEVERAGE

No details information about the types of accounts this broker offers, but all we can say is that, The broker does offer a demo account which isn‘t really of much help. Once you open the demo account, you will notice that no trading takes place. It’s just a video showing how members are to trade once they open a real account.

Goat4x states a minimum deposit of $50 is needed to open an account – this is not bad, but there are brokers out there, whose micro accounts cost way less – around $10 at most.

Goat4x provides a leverage of up to 1:500 – this is quite common among shady brokers and scammers – you see, trading with high leverage can be quite risky, which is a fact, recognized by most regulators around the world. Leverage of 1:500 is outright banned in most places – and the only brokers that offer them are unlicensed ones, looking to attract more clients

TRADING PLATFORM AVAILABLE

Goat4x provides MetaTrader4 and MetaTrader5, which is the only positive feature of this broker. Both platforms are considered the best in the retail FX market, but we dont recommend shady MT brokers like Goat4x.

DEPOSIT AND WITHDRAWAL

The minimum deposit with Goat4x is $50, and you can‘t open a real account unless you transfer the requested money. Typically, you fund the account after you’ve created it, but Goat4x is doing things upside down, which is annoying. On top of that, in their T&Cs, we saw them claiming that the minimum deposit is $10, so we have a discrepancy, which should be put down as a red flag.

Goat4x accepts only cryptocurrencies as funding methods– Bitcoin, Ethereum and USDT. That‘s worrying because it’s impossible to get a refund if you deposit cryptos. Those transfers are final, and its also unknown whom you are sending money to. At the same time, in the T&Cs, they claim that the only possible funding is via Wire Transfers, which is yet another discrepancy and more evidence of a scam.

CUSTOMER SERVICE

Once you click on their chat tab, you are directed to their Instagram page. Note that the broker takes you to a private session. The Instagram platform is used to take advantage of one-on-one communication.

They have your address and can talk and send messages to you at any time. Once you ignore them, you get bombarded with emails or phone calls if you did give them your contacts. Its best to protect your direct line from these scam artists.