Name of Broker – Fergofx
Website – www.fergofx.com
Regulated By – None
Warning Issued By – Financial Conduct Authority (FCA)
Introduction
Fergofx is an online CFD and forex broker. The website claims it is regulated by FCA. Their goal is to with best and absolute trading experience. They claim to have the best encryption and state-of-the-art client portal. It promises the investor funds are safe in their hands. From their liquidity provider, they obtain the best price due to the latest bridging technologies. Read the full Fergofx review to know more about this broker.
They claim their payment system is super-fast thereby allowing speed debiting and crediting of accounts. The checks for opening an account are quick and the investor can trade promptly.
They have a mobile version also which allows you to trade via mobile from anywhere in the world. In this moving market, you can react instantly which helps you maximize the opportunity you get.
The website claims that they are headquartered in the middle of London. They offer you to trade in CFDs, forex, metals, gold, and commodities.
An easily navigable client portal gives full account management and 24×7 support.
Their website displays FCA registration number 13074692. They claim that they are regulated and authorized by FCA.
Their registered office is at 79 The Uplands, Rogerstone, Newport, Wales, NP10 9FE. They do not provide their services in the USA, Belgium, or for that matter any other country outside the UK.
Fergofx considers the security and safety of investor funds as a top priority. It has effective protection due to leading data encryption technology. They have a strict supervision mechanism in place. They have segregated retail client accounts. They claim to be a member of FSCS. Whereby, the claimants can be compensated for GBP 85,000 per person.
Account types
They have four accounts types, namely Professional, Premium, Edge, and Standard accounts. Except for the Professional account, all other account funds are protected under FSCS.
Trading products are available on the site.
Fergofx, on its platform, offers clients to trade in Forex, Commodities, Precious Metals, Crude Oil, Indices, Cryptocurrencies, CFD (Bitcoin, Ethereum, Litecoin, and Ripple). You can also trade in shares CFD.
Analysis
They provide technical analysis, market news, economic calendar, and quarterly market outlook.
Client’s education program
They conduct a webinar for the betterment of their clients. They also host seminars on different topics related to trading. They host financial events regularly. They have a Forex education center whereby they inform their clients of the finer points of trading forex. They also have Web TV for investors.
What does FCA say regarding Fergofx?
Fergofx is not authorized by FCA. It is targeting the UK public. Details provided by FCA are given here. The address of the firm is 79, The Uplands, Rogerstone, Newport, WALES, NP10 9FE. Telephone number: 13186181745. Email IDs: support@fergofx.com, and complaints@fergofx.com.
Be aware of Fergofx scam
It is an open lie that they are regulated by FCA. Fergofx offers trading in CFDs in cryptocurrency, which is banned by FCA. The maximum allowed leverage ratio is 1:30, but Fergofx offers 1:400. There are a lot of scam brokers that untruthfully claim to be operating from the UK. They are doing so because the Great Britain forex market is one of the most popular ones. The British forex market provides protection against price manipulation, negative balance, and more to retail traders. FCA has blacklisted Fergofx. What Fergofx claims to be a trading platform is not a trading platform at all. Whosoever with knowledge can coolly figure it out that it is not a trading platform but a Fergofx scam? Better to trade on a reliable platform like MetaTrader 4 or 5.
Fergofx scam has not put up any legal documents on its site. There are no client agreement documents on the site nor is there the presence of terms and conditions. In terms and conditions, important matters like swaps, transaction charges, refund procedures, dormant account fees, etc. are mentioned.
Is scammed money recovery possible from Fergofx?
The straightforward answer is “NO”. Because Fergofx has mentioned many modes by which it accepts money, actually it accepts the only cryptocurrency. And payments in cryptocurrency are virtually irreversible. It is the main reason why scammers prefer accepting money in cryptocurrency. It is better to stick to the conventional method of payment through Mastercard or VISA card. You have a chance to file a chargeback if you funded your account with a card payment and anything goes wrong.
Do review the latest frauds on scam broker 2022 so that it helps you to avoid scam brokers.
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