Goeverups.com is a broker whose web address is listed by CYSEC among brokers that are not regulated and dangerous to trade with.
This is why we recommend choosing brokers that we have asked you to trade with (they can be found on our homepage).
And of course profitable trading goes hand in hand with these highly reliable trading and investing resources.
Goeverups claims that it has offices in Australia and Germany. This means that the broker is subject to the financial regulatory authorities of these two countries.
Unfortunately, the broker is not regulated but are lying by falsely claiming to be licensed by the Italian regulator, CONSOB.
If a broker can lie about their regulatory standing to gain your trust, it means they can and will lie almost about everything.
The only truths that this broker is presenting on their website is that:
1.They are an MT4 Forex broker
2.They provide a demo
3.They target beginners and experienced traders
4.Trading accounts can be opened in USD and EUR
5. Demo account is provided
6.They offer a wide variety of financial instruments including Forex, Stocks, Indices and Commodities (over 40k of them)
Despite offering this list of service and features, we still don’t trust them.
Goeverups.com background information
This broker’s website first appeared online in December 2020.
It is registered anonymously and of course their marketing materials didn’t tell us the name of the company that runs their website.
Traffic details show that the website is not receiving any significant traffic. Probably this broker does not even have any clients at the moment.
For those who end up in this broker’s traps as a result of not reading this review, the eventual scamming will happen.
We generally prefer brokers with a long track record of serving clients, not brokers who are just 3 months old.
Less efficient broker with unfair terms and conditions
Goeverups.com has written in their terms and conditions that withdrawals will take up to 5 days.
Nevertheless, we prefer brokers with instant withdrawals. Brokers that we’ve always recommended have reckoned that traders no longer want to wait.
Furthermore, Goeverups.com has mentioned that they will be deducting withdrawal processing fees but have not disclosed what what percentage these charges will cost us.
On the other hand, good brokers are transparent with their processing charges. On top of that, those that we’ve recommended here don’t pass withdrawal processing fees to their clients.
We’ve also looked into their account types and realized that they are charging spreads as well as commission at the same time.
Brokers should either make us pay spreads or commission but not both at the same time.
Goeverups is an untrustworthy broker meaning that some of the things they promise us are actually lies.
Their basic account type costs $250 in minimum deposit. But immediately after this, they are demanding $2,500 or more as minimum deposit.
This huge gap in minimum deposit requirement is often seen on websites of brokers who intend to scam traders.
Of course lack of a broker’s license is also something to worry about. Now that CYSEC has blacklisted them, it is not worth trading with Goeverups at all.