FOGO Review: Is It Legit or a Scam?
FOGO, claiming to be operated by FOGO GLOBAL LIMITED, presents itself as a legitimate trading platform offering a variety of investment products, including Forex, Stocks, Commodities, Crypto, and more. However, a deeper investigation into FOGO’s claims raises questions about its legitimacy and regulatory status.
Known Websites: https://fogoforex.com/
Domain Age:
- Name FOGOFOREX.COM
- Registry Domain ID 2876728824_DOMAIN_COM-VRSN
- Registered On 2024-04-29T13:45:16Z
- Expires On 2025-04-29T13:45:16Z
- Updated On 2024-04-29T13:48:18Z
Overview of FOGO
FOGO GLOBAL LIMITED is said to be headquartered in the UK and regulated by the US Money Services Business (MSB). As a broker, it advertises that it gives traders access to international markets. While the MSB registration does exist, it only covers currency exchange activities and does not authorize FOGO to operate as a forex trading broker or offer financial derivatives. Furthermore, there are significant doubts regarding FOGO’s authenticity because it is not subject to UK Financial Conduct Authority (FCA) regulation.
Is FOGO Legit or a Scam?
Despite its claims of regulation, FOGO is not officially licensed to offer trading services, particularly in financial derivatives. The absence of proper regulation and authorization from recognized financial bodies like the FCA makes FOGO a risky platform for investors. Investors’ money is not legally protected in the absence of regulatory control, making them susceptible to possible losses.
In conclusion, FOGO is not a legitimate trading platform and is not authorized to operate in the UK or many other jurisdictions. Investors should exercise caution and avoid using FOGO for trading, as the lack of regulation makes it unsafe to trust with funds.
Scams Report Reviewed FOGO
Scams Report, a trusted platform for exposing fraudulent activities, has analyzed FOGO and found reasons for concern. We specialize in identifying brokers that exhibit red flags commonly associated with scams, such as unclear regulation, questionable practices, or hidden policies.
Scams Report also supports victims of online scams like forex trading scams, cryptocurrency schemes, social media schemes, and internet dating scams, offering free consultation and guidance on fund recovery.
If you’ve faced challenges with Fogoforex.com or any other broker, our experts are ready to help you take the first step toward reclaiming your funds.
COMPLAINT NOW AND GET FREE CONSULTATION HERE
Our Social Pages