Bitfargo is an offshore broker and it is an unreliable one. Please read Bitfargo review before investing. The broker is not regulated by any of the known regulatory authorities in the jurisdiction. Nexus LLC, a firm founded in Saint Vincent and the Grenadines in May 2021, owns BitFargo. Not only is this an offshore country, but it is the only one with no actual regulatory oversight.
This broker offers operations in many asset classes and provides investment services in many countries throughout the globe without having a proper license from any of the known regulators like SEC, ASIC, FCA, BaFin, CNMV, CySEC, etc. On investigating online we found that there are many negative Bitfargo reviews and complaints on different broking forums. This is a red flag, for Bitfargo broker can be possible scam/fraud. Your investments/funds may not be secured if you are trading with this broker.
Bitfargo Review: Probable scam activities of fraud/scam broker
Described briefly below are some of the possible scam/fraud activities of Bitfargo broker and hence we do not advise you to work with this broker.
- The terms and conditions of Bitfargo broker are such, that it makes withdrawal impossible. Even it is not possible to bonus. The rules and regulations condition are kept purposefully in such a way to defraud traders/investors.
- The broker calls you umpteen times to invest more and more amounts in the account.
- Claims made through the website are untrue and are virtually not possible to achieve, execute or discharge.
- Returns on investments (ROI) promised by Bitfargo broker on his website are nearly impossible to achieve.
- Risk warnings while trading is not declared/disclosed on the webpage or would be disclosed in very small fonts at some corner of the page which is hardly readable/noticeable.
- The broker is active in the initial period; later on, he may not communicate with you or avoid replying altogether. He may change the URL or company’s name without notifying traders.
- The broker may be operating from those countries where regulation rules are lenient or vague. More often than not these countries are heaven for scam brokers.
- In the initial period, the broker will show you that you are making huge gains/profits but as soon as you submit a withdrawal request, your trades start making losses. Or they will point out some of their illegitimate rules of withdrawals whereby it will be impossible to withdraw.
Negative Bitfargo review and complaints
On surfing the internet or social media sites you will find many negative Bitfargo reviews and complaints of withdrawals of Bitfargo broker. We also examined and scrutinized Bitfargo broker online and other scam features, and hence included this broker in our list of scam brokers 2022.
Bitfargo Review: What the reviews and complaints of Bitfargo broker are in general?
After reading many Bitfargo reviews and complaints from the broker we concluded that account holders are frustrated and are unable to withdraw their funds. The broker has cheated on them and is not fulfilling his promise. There is no transparency in the broker’s operation. Bitfargo broker is now no longer communicating with them through any channels. Have blocked or suspended the account.
Bitfargo Review: How to get your stolen/lost money back from Bitfargo broker?
The best route to recover your stolen/lost money from Bitfargo scam is Scams Report.
Scams Report has a committed team of experts from different fields. The combined team has years of experience and expertise dealing with fraud/scam broking companies. The Scams Report provides free consultation to those victims who have filled out a free consultation form and submitted it to us. We help you build up a solid case against the scammers without leaving any escape route for them, to regain your funds.
Many investors/traders feel that it is impossible to get their money back from these fraud/scam brokers. Let me assure you there is nothing like impossible. Many victims feel they are alone, be assured you are not alone; the scam broker has scammed many innocent investors and disappeared into thin air. He has scammed people in the past, is presently scamming, and will continue his activity in the future. Even the most cautious traders/investors make mistakes and fall into the booby trap laid by the scammers.
Precaution is better than cure. Before investing, stay alert, read reviews on different channels, after it is your hard-earned money. Happy investing/trading.
We have more than 10 years of experience in the field of fund recovery services from all types of scams like Forex trading scams, Binary Trading Scams, Cryptocurrency scams, Online Scams, Investment Scams and all other financial scams. Scamsreport is a genuine recovery organization and deploy all modern methods to help the victims of scams.
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