Fergatex Review 2024: Unveiling the Story Behind Fergatex’s Success

The story behind this broker’s success isn’t at all impressive. Instead of working hard trying to achieve a good reputation, this firm decided to take a different path and scam investors for their money. Unfortunately, they’re not the only ones, as scam brokers just keep appearing in the trading world. 

But what is the truth hidden behind this brokerage company? Why did several authorities shut them down? And most importantly, where does it end? Keep reading our Fergatex review and learn about this brokerage and how it scammed investors. Additionally, check out ForexFury. 

About Fergatex

While there is no valid address for this brokerage, according to WHOIS, the domain is registered no other than in St. Vincent and the Grenadines. Regulatory requirements in St. Vincent are not strict and the majority of scammers come from there. But luckily for traders, many authorities noticed this broker. 

Besides several warnings and a lack of license, this notorious broker was surrounded by red flags. It had no shame in scamming as many investors as possible before it was closed. According to ScamAdviser, the registrar of the website is popular amongst scammers, which doesn’t surprise us at all. 

Legal Information

It’s no secret that this broker operated without a license. You can never be safe if you’re dealing with unregulated brokers because besides having a lot of opportunities to scam investors, there is always a possibility you will never be able to get your money back. 

That said, the majority of Fergatex’s traders come from Spain, which is why the CNMV was the first one to publish an investor alert. 

Soon after, multiple authorities such as IOSCO, CONSOB, AFM, and even the Financial Supervisory Authority (FI) followed and warned its investors about Fergatex. As soon as there’s even one financial authority warning, avoiding that broker will be in your best interest. 

Fergatex Features

The broker wasn’t very transparent in providing information about leverage, spreads, or any fees. Assets that were available for trading included the usual ones, which are Forex, indices, commodities, and of course, cryptocurrency. 

It’s reported by several traders that the platform was very laggy and it was almost impossible to trade on it. Additionally, the most interesting thing about this broker is the high returns promise, as they were advertising the usual get-rich stories. 

Scam brokers usually provide a variety of assets and tools to make it seem like they’re better than the competition, when in fact, that is just a facade to lure you in. The Fergatex platform was a suspicious web trader and it wasn’t appealing at all; nevertheless, many traders still fell prey to this scammer.

Traders Share Their Experiences

The Fergatex broker achieved an atrocious reputation for its short life. Instead of working toward being an actual brokerage, they were too busy trying to take away traders’ money. Which is probably why they’re a 2.8-star rated broker on Trustpilot. 

There are lots of 5-star comments, however, we are certain those are fabricated. But as you delve further, more than 60% of the comments are 1- and 2-star reviews, which only confirms our suspicions with this broker. 

According to several, if not all traders, as soon as you make any profits, withdrawing them is impossible. One trader was able to boost his account up to 95,000 euros, however, the money disappeared soon after. Instead of paying up, they deleted the money as if the trader never earned it. 

Payment Options and Process

Depositing your funds with scammers will be a very easy process. It will appear as a company committed to assisting its traders, however, that is far from the truth. As soon as you deposit your money, they will disappear along with it. 

Don’t even think about getting a Fergatex withdrawal. Even if you make profits, they will constantly delay the request and tell you fake stories, until eventually, they block your account and the profits you earned. We advise you to always use an internet credit or debit card because if something goes wrong, you can always file for a dispute. 

How Is the Scam Carried Out?

According to several Trustpilot reviews, they call off phony numbers, actively argue with you, and harass you constantly. They promise not to solicit for money, but an hour later they’re back on the phone offering you life-altering promotions that will cost you £10,000.

If you refuse, they will lower the amount to £5,000, saying that it’s a special opportunity you shouldn’t miss and the discount is time-limited and only for you. If you refuse that as well, they will keep lowering the amount until eventually you accept. 

Weighing the Pros and Cons

Can I Make Money While Trading Online?

If we had to summarize this Fergatex review into one word, it would be avoidance. There is nothing beneficial in trading with this brokerage and luckily for traders, it’s no longer possible. This notorious broker is closed, meaning there is one less scammer to worry about. 

Trading with brokers like Fergatex or All Capital Trade won’t get you far; instead, you will only lose your patience, time, and money. If you are tired of dealing with such companies, give us a call. A group of our experienced traders established AI.Fundevity, a potent analysis bot. 

It can process billions of data points quickly and effectively to provide you with insightful recommendations. It can analyze past statistics, market news, and many more. For a full potential, call us and try it for 14 days for free, with no commitment! 

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