VigoFX Review: Vigofx.com Can you really trust them?

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VigoFX Review
  • Regulation
  • Fund Safety
  • Customer Support
0.5

Summary

VigoFX is a company that lacks all aspects of being trusted. The entity does not have a trading history in the market. It was established in January 2021. The company aspires to be in the market for only a period of one year.

VigoFX is a company that claims it is operating as per the law. Unfortunately, this is false and this is a dangerous scam in the market. Moreover, the company existed before until it received a warning from the FCA.

The platform does not have the intention of earning investors passive income. The entity will not be in the industry for long. They will eventually leave once there are no more signing up with them. The broker will leave you high and dry if you buy their financial narrative.

VigoFX is an offshore investment scheme. The problem with these kinds of companies is that they do not follow any strict rules. You might think you found a gold mine but the reality is you are dealing with fraudulent brokers.

VigoFX Review, VigoFX Company

The company does not have a trading history. Moreover, we also do not the background of the people managing the funds of investors. Investors need to know the qualification of the financial officers and the managers handling their money.

In most cases, fraudulent entities do not have trading activities taking place. They only set up a website and start defrauding novice traders. You won’t find an expert trader wasting their time in a losing system.

VigoFX.com Review

VigoFX is an investment company that is operating as it, please. The entity does not have anything positive to offer investors. The content on their website is meant to lure you into giving them funds.

Instead of risking your funds in such a manner, we would suggest you trade only with legit forex trading companies in the world. These are some of the best entities that are dedicated to serving their clients’ needs.

The market has multiple investment companies. The problem is all of them claim to be the best and it becomes hard for the investors to draw a line. Novice traders are usually the ones that get a hard time picking a trading partner.

This is because of the lack the relevant skills and knowledge of selecting the best entity. However, you do not need rocket science to know that an investment company is a waste of your time. Invest with platforms that have a MetaTrader, offer a leverage cap that is as per the financial body’s limit, and have a good reputation in the market.

Avoid companies that promise you lucrative offers. They only want to attract you into their system. Their only interest is to get money from you. Research on a venture before giving them access to your funds.

Withdrawal and Deposits

VigoFX allegedly accepts funds via MasterCard and Visa. The least amount that you can deposit at this entity is 150 Euro. The company process withdrawal via bank transfer. The minimal amount that you can cash out is $100.

We do not know if the entity is charging fees since this info is not featured. The withdrawal data is insufficient and lurking. The entity is also using a basic trading platform. It does not have multiple features like the MT4.

The entity is offering leverage of 1:200 which is very high. It opens high risks to investors. The EURUSD currency pair provides a spread of 0.6 pips. You should not join this entity based on the offer that it provides.

Contact Details

VigoFX is being operated by a company known as VIGO AND LLC. The corporate is located at St Vincent and the Grenadines. The reason why most of the entities choose to be based here is to avoid complying with strict guidelines of financial watchdog.

However, during our research, we discovered that the entity is also being managed by BIM LLC. The big problem is that these two corporates are not regulated by the government. Investing with this entity will expose you to several risks.

You can expect unprofessional customer support services from the broker. Scammers have no intention of serving their clients apart from their greedy needs. You need to be careful once you come across an entity that is not reputable.

VigoFX location is also unknown. Therefore, traders cannot visit their offices once a need arises. Invest with the best reliable and genuine companies that care about their customers’ needs. You will earn real-time returns without exposing yourself to several risks.

Legit brokers provide multiple methods that you can use to contact them. Their support team is also friendly and responds fast. You also have the assurance that your query will be processed in a professional and timely manner.

Regulation and Registration

BIM LLC is a notorious scam that is managing VigoFX. The corporate earlier this year received a warning from the FCA. Once an operation is marked as unreliable and untrustworthy is a clear sign that you should trust them.

It is the requirement of the law that every investment firm that is selling financial products, or services, or advertising must acquire a license before commencing their activities. The entity is targeting investors from the United Kingdom yet it has not met the necessary requirements.

VigoFX should deposit an amount of 730K Euro as its initial capital to be able to trade legally. Sadly, since this is a scam it has no intention of clearing its name. The fund usually acts as compensation to investors once the broker faces bankruptcy.

Moreover, traders are also protected against negative account balances. Trading with a platform that has a license document brings peace of mind. You will trade knowing that your money is safe. Additionally, you have the assurance that the entity will not change their terms and conditions like it, please.

You are protected and you also have the assurance that the platform will not exit the market without notice. The investment company also segregates funds into separate accounts. Additionally, they also must report their daily activities to the authority.

The Domain Insight

VigoFX is a company that lacks all aspects of being trusted. The entity does not have a trading history in the market. It was established in January 2021. The company aspires to be in the market for only a period of one year.

It is registered privately. Therefore, the information regarding the founder is hidden from the members of the public. Investing with this entity exposes you to multiple risks. You will have nowhere to run to once they decide to close down their business.

Furthermore, VigoFX has a low alexa global ranking. The people that are visiting the website are not many. Moreover, their audience geography remains a mystery. The company has several loopholes.

Final Verdict

The investment company is a notorious scheme that is not worth anyone’s time. The platform is being managed by an organization that is already blacklisted. Additionally, there is no customer support team.

How will you resolve any problem that you encounter at VigoFX? Who will help you recover your money once this entity exits the market? These are some of the questions that you should be asking yourself before entrusting your money with a shady broker.

There are several genuine and trustworthy forex trading companies that have been operating for years. These are the best brokers that you should be dealing with. You need to focus and put your priorities first. The security of your money should be your main concern.

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