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/10

GOFX

Indonesia|2-5 years|
White label MT5|Regional Brokers|High potential risk|

http://gofx.co.id/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
ICDX-Demo MT5
Server Location Indonesia

Contact

(+62) 21 3002 7788
http://gofx.co.id/
Prajurit KKO Usman dan Harun No.16, RT.2/RW.1, Senen Jakarta, Indonesia 10410
https://www.facebook.com/ICDXgroup/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

(+62) 21 3002 7788

Broker Information

More

Company Name

GOFX

Company Abbreviation

GOFX

Platform registered country and region

Indonesia

Company website
Twitter
Facebook
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-06-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

GOFX · WikiFX Survey

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GOFX · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

ICDX Review Summary in 10 Points
Founded 2009
Registered Country/Region Indonesia
Regulation Not regulated
Market Instruments Gold, Crude Oil, Forex, Palm Oil, Tin
Demo Account Not specified
Leverage Not specified
EUR/USD Spread Not specified
Trading Platforms MT5, EPACT-CD
Minimum Deposit Not specified
Customer Support Email, Phone, Request form

What is ICDX?

ICDX, used to name as GOFX, short for Indonesia Commodity & Derivative Exchange, is a global brokerage firm based in Indonesia. It offers trading services in various market instruments, including Gold, Crude Oil, Forex, Palm Oil, Tin. However, it is important to note ICDX currently has no valid regulation from recognized financial regulatory authority.

ICDX's home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Wide range of trading instruments across multiple asset classes • Not regulated
• Rich educational resources for traders of all levels • Limited info on deposit/withdrawal
• MT5 trading platform • Reports of unable to withdraw and scam
• Multiple customer service support options

ICDX Alternative Brokers

There are many alternative brokers to ICDX depending on the specific needs and preferences of the trader. Some popular options include:

  • Swissquote - Swissquote is a reputable broker with a wide range of financial instruments, advanced trading platforms, and strong regulatory oversight, making it a reliable choice for traders seeking a comprehensive trading experience.

  • Plus500- Plus500 is a user-friendly broker offering a simple and intuitive trading platform, competitive spreads, and a wide selection of CFD instruments, making it suitable for traders looking for a straightforward trading experience.

  • FXPro- FXPro is a trusted broker known for its competitive pricing, fast execution, and a wide range of trading platforms, making it a preferred choice for both beginner and experienced traders seeking diverse trading opportunities.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is ICDX Safe or Scam?

ICDX claims to be regulated by local government and institutions, but it does not currently have a valid regulation from a recognized financial regulatory authority. It's important to note that while local regulations can exist, they may not provide the same level of oversight and investor protection as reputable international regulatory bodies. However, the lack of regulation from well-established authorities can raise concerns about the transparency, accountability, and compliance practices of ICDX. This can increase the risks associated with trading, including the potential for fraudulent activities or the inability to seek legal recourse in case of issues or disputes. It is advisable to conduct thorough research and due diligence before engaging with any financial platform to safeguard your funds and ensure a safe trading experience.

Besides of this, reports of users unable to withdraw funds and scam raises concerns about the company's reliability and customer support.

Market Instruments

ICDX provides a wide range of market instruments, allowing its users to access and trade various assets. With a diverse selection of market instruments available, users can diversify their portfolios and take advantage of different trading opportunities. Here are some of the key market instruments offered by ICDX:

One of the prominent trading instruments available on ICDX is gold. Gold, known as a safe-haven asset, attracts traders due to its global recognition and value as a precious metal. Traders can engage in gold trading on ICDX, taking advantage of price movements and fluctuations driven by factors such as economic conditions, geopolitical events, and investor sentiment.

gold

Another significant trading instrument offered by ICDX is crude oil. Crude oil is a vital global commodity, and its trading holds immense importance in the energy market. Traders can speculate on crude oil prices and leverage opportunities presented by supply and demand dynamics, geopolitical factors, and changes in global oil production and consumption patterns.

crude oil

ICDX also provides a platform for forex trading, offering a wide range of currency pairs for traders to participate in the foreign exchange market. The forex market offers opportunities to profit from fluctuations in exchange rates between different currencies. Traders can take advantage of various economic indicators and central bank policies to make informed trading decisions in the dynamic forex market.

FX

Traders can engage in palm oil trading, taking advantage of price movements driven by factors such as global demand, weather conditions, and supply chain dynamics. With its widespread use in the food industry and as a renewable energy source, palm oil holds significant market importance.

palm oil

Furthermore, ICDX facilitates trading in tin, an important industrial metal with applications in various sectors such as electronics, construction, and manufacturing. As a versatile metal, tin finds applications in various industries, including electronics, automotive, and packaging.

Tin

Trading Platforms

ICDX offers its clients access to two trading platforms: MetaTrader 5 (MT5) and EPACT-CD.

MetaTrader 5 (MT5) is widely recognized and popular among traders for their advanced features and functionality. Its a comprehensive trading platform that provides access to various financial markets, including forex, commodities, stocks, and indices. It offers an extensive range of technical analysis tools, charting capabilities, and customizable indicators, empowering traders to conduct in-depth market analysis. MT5 also supports automated trading through expert advisors (EAs) and allows traders to implement their own trading strategies or utilize pre-built algorithms.

MT5

The EPACT-CD platform is a web-based software system that will dematerialize physical commodities into an electronic proof of ownership (Electronic Warehouse Receipt) and integrate commodity trading participants on the exchange. The software is an attempt at standardizing how receipts are traded through rules and regulations that participants may follow when building the membership base of producers, warehouses, traders, banks, and collateral managers.

EPACT-CD

Overall, ICDXs trading platform is well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker Trading Platforms
ICDX MT5, EPACT-CD
Swissquote Advanced Trader
Plus500 Plus500 WebTrader
FXPro MetaTrader 4/5

Trading Tools

ICDX offers a range of trading tools to enhance the trading experience of its clients. Among these tools are:

Fundamental Analysis: ICDX provides access to fundamental analysis tools, which involve evaluating economic indicators, news events, and market trends to assess the intrinsic value of financial instruments. Fundamental analysis can help traders make informed decisions based on factors such as economic data, company performance, and geopolitical events.

Virtual Hosting (VPS): VPS allows traders to run their trading platforms and automated trading systems remotely on servers, ensuring stable and uninterrupted connectivity. This can be particularly useful for traders who rely on automated trading strategies or require a reliable and fast connection to the market.

Trading Signals & Copy Trading: Trading signals are generated by experienced traders or specialized software, providing insights and recommendations for potential trading opportunities. Copy trading allows traders to automatically replicate the trades of successful traders, leveraging their expertise and potentially profiting from their strategies.

Trading Tools

User Exposure on WikiFX

On our website, you can see that reports of users unable to withdraw funds and scam. Traders are encouraged to carefully review the available information. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Customer Service

ICDX provides multiple customer service options to assist its clients. Customers can reach out to ICDX through various channels to address their queries and concerns as below:

Call center:

P: +62 21 3002 7788

F: +62 21 3002 7789

Customer support email: info@icdexchange.com.

Address:

Gedung Midpoint Place, 22nd Floor,

Jl. H. Fachrudin No.26,

Kelurahan Kampung Bali, Kecamatan Tanah Abang, Jakarta Pusat.

ICDX also provides the option to contact them through a request form on their website. By filling out the request form, you can submit your inquiries, requests, or specific information that you need assistance with. Once submitted, the support team will review your request and respond to you accordingly.

Overall, ICDXs customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Customer Service
Pros Cons
• Accessibility • Quality and Expertise
• Multi-channel support

Note: These pros and cons are subjective and may vary depending on the individual's experience with ICDX customer service.

Education

ICDX offers a comprehensive range of educational resources to support traders in their journey.

“Learn with ICDX”: this section provides traders with a comprehensive set of educational knowledges about trading.

Video courses offer in-depth learning on various aspects of commodities trading. These courses cover topics such as market analysis, risk management, and trading strategies, providing traders with valuable insights and knowledge.

ICDX hosts webinars conducted by industry experts. These webinars deliver up-to-date market analysis, trading tips, and strategies, allowing traders to stay informed and make well-informed trading decisions.

The Community section serves as a platform for traders to connect, interact, and share their experiences. It fosters collaboration and knowledge exchange among traders, creating a supportive environment for learning and growth.

Education

Conclusion

According to available information, ICDX is a non-regulated Indonesia-based brokerage firm. While the firm has some experience in the industry and offers a range of market instruments such as Gold, Crude Oil, Forex, Palm Oil and Tin, it is important to consider certain factors such as lack of regulations that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from ICDX before making any investment decisions.

Frequently Asked Questions (FAQs)

Q 1: Is ICDX regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: Does ICDX offer the industry leading MT4 & MT5?
A 2: Yes. It offers MT5 platform.
Q 3: Is ICDX a good broker for beginners?
A 3: No. It is not a good choice for beginners. It does not currently have a valid regulation from a recognized financial regulatory authority, this raises concerns about the level of oversight and consumer protection offered by the broker.

User Reviews

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Comments

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Za847
6-12months
Illegal brokers, recommended to avoid. When something happens, no one can help.
2023-12-19 12:01
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0
0
amp266
more than one year
I haven't encountered the above problems yet. Your intent is that you can't come and get free stuff and then come to rant?
2023-02-08 16:53
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0
0
amp266
more than one year
I'm using this broker, I don't see any problems.
2023-02-08 16:50
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0
0
mos25
more than one year
I'm using this broker. Conditions, they say, right? Why not make a headline like that? I have traded this broker for almost 2 years now, no problem whatsoever.
2023-02-08 16:37
Reply
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