Taco Forex Review: Signs That TacoForex.Com Is a Fraud
Taco Forex is another scam broker with a nicely designed site. Yes, the site looks legit until you realize that it is missing a bunch of data that is crucial when it comes to investing. This company states on its webpage that it has twenty years of experience in its business, which is not true.
Digging through the site, we saw that it was a scam. The company is owned by GTaco Forex Company which is allegedly registered at 401 Kilburn High Road, London, England, NW6 7QE. Just another scam broker.
We found this out after finding it blacklisted by the Financial Conduct Authority (FCA) in the UK. If you are interested in the details of the scam, read the article to the end.
Be sure to be careful and watch out where you invest your money, the chances of getting scammed are increasing, considering how many scam brokers there are in the market.
|Headquarters||401 Kilburn High Road, London, England, NW6 7QE|
License and Safety of Funds at Taco Forex
Taco Forex has already been exposed as a scam. You can see this in the notice issued by the FCA as a warning that Taco Forex is an illicit broker. So the rewards that the Taco Forex company talks about on the site do not exist. Besides the FCA, CONSOB has also issued a warning against them.
Taco Forex is an unregulated company that operates outside the prescribed laws. This means that no matter how good Taco Forex offers its clients, it is negligible compared to these facts.
It is worth mentioning here that the scam broker claims to be part of StoneX Group Inc. which is a completely legitimate company, but this is another lie fed to us by Taco Forex in an attempt to make themselves look more important in the world of finance.
Given that the regulatory body FCA has already warned the public with its publication that Taco Forex is an unauthorized broker, there is no need to discuss this matter further, but just be on the safe side, we’ll dive a little deeper.
Taco Forex Trade Trading Platform
From the information on the Taco Forex website regarding the trading platform, this broker says that it offers its users a web trader built into the website and MetaTrader5.
As for MetaTrader5, this software is the industry standard and it is popular among traders around the world. But there is no MT5 download link on the site.
This means that this information is more like an advertisement that should instill confidence in potential users. When it comes to the web trader that was built into the site, we didn’t manage to see it.
We can also ask ourselves whether this company has any trading platform at all. Given that this is an unregulated broker, you should not invest with him even if he has the highest quality trading platforms currently available.
What Trading Instrument is Available at Taco Forex?
From trading instruments, this company offers its users trading in currency pairs Forex, indices, stocks, commodities, and cryptocurrencies. No matter how colorful their trading offer seems, don’t forget that there are a handful of licensed brokers with an even bigger offer.
No matter how tempting the conditions for trading you come across on the this company website, don’t forget that it is a scam. Conveniences initially offered by fraudulent brokers are often later charged with huge fees so high that they make it impossible for users to make a refund request.
Taco Forex Deposit and Withdrawal
Although Taco Forex has flooded its site with useless information, there is not a single word about payment and withdrawal methods. It doesn’t even mention the minimum deposit, funding methods, fees, or anything else related to the alleged trading catches.
Brokers who do not provide clear, precise, and transparent information about this part of the business, which concerns the clients the most, are more often than not fraudsters.
If this broker asks you to pay in cryptocurrencies via an e-wallet, do not agree to it, because this type of transaction is difficult to track and it is almost impossible to get the money back.
If you paid money via VISA or Mastercard card, you have the right to a refund up to 540 days after payment.
It often happens that such fraudulent companies set unfavorable conditions for their users, such as high fees and bonuses that must have a certain number of turnovers together with the deposit, thus making it impossible for the client to withdraw. Be careful where you invest your money.
How Does This Scam Operate?
When we talk about the scam carried out by this broker it is simple. Probably the only money they have invested is the money needed to build the site. Since everything else is fake. The site is filled with enticing information and false promises that have the function of attracting users.
After users get overwhelmed with scattered information, create an account, and pay a deposit, the Broker has succeeded in the scam. Everything the company will do next is to prevent you from withdrawing funds or to block or delete your account.
Taco Forex Summary
After all the research, it is clear that this broker should be completely shut down. Since we are unable to do this, we advise you to bypass them. No matter how good the offer seems to you when it comes to an unregulated broker, everything falls apart.
Nothing else, beyond that, should play a role in deciding whether to do business with them or not. It is clear that you can only be robbed and played with them. We hope that we have shed some light on the scam being run by Taco Forex and helped you make a decision not to do business with scammers. You saved your money.
FAQs About Taco Forex Broker
Is my Money Safe with Taco Forex?
Taco Forex is blacklisted by the FCA, which warns that it is a scam. Your money at Taco Forex is not safe.
Does Taco Forex Offer a Demo Account?
Taco Forex does not have a Demo Account option.
How Secure Is Taco Forex?
Taco Forex is not a regulated company and cannot guarantee the safety of its users.