Name of Broker – UALGO
Website – ualgo.com
Regulated By – Unregulated, Blacklisted
Warning Issued By – National Securities Market Commission (Spain)
UALGO is the entity that runs the online trading platform. Ualgo claims to be a genuine website, and it increases your trading strategy by providing excellent trading conditions. But they hide their true identity as the names of their CEO and CFO are not mentioned in the company details. We also don’t see the number of their employees. It is a faceless investment platform, and there is no direct contact with the investor which indicates that this platform is not safe, and it better move to avoid or stay away from them. It faces warnings from CNMV, FCA, and FMA, and this warning shows that it is an invalid or unauthorized platform. If you want to avoid these scams, read the review on Ualgo Review.
Is UALGO valid?
No, Ualgo is not a valid broker because it does not hold a valid license. It is a warning for you to avoid investing with them. If you are investing with them means, you are not protected, and your money will never get back. So be aware of this forex scam broker and invest with only those who have a valid license.
UALGO regulation status
The regulation status is the most important point for a broker to provide trading and investment service. Ualgo has an unregulated status because each country provides a regulated license to its brokers. It is a clear indication that this broker is involved in a scam. Regulatory authorities like ASIC, FCA, CNMV, and FINMA do not provide any license to Ualgo, and it is an indication that the broker is not too good for you to invest money with them.
Complaints and public review against UALGO
The most important point is to check complaints or public reviews on online review sites. Low ratings and negative public reviews indicate that the broker does not have a good image among investors. A number of complaints and negative Ualgo reviews have been found on various online review sites.
Is Investment with UALGO safe?
If a broker asks you to invest in a high deposit means your investment is not protected, and the broker is involved in forex scams or any other scam. A genuine broker never offers to invest in a high deposit. Ualgo is not a safe or valid broker as it offers you to invest a huge amount. It is a major red flag to not invest in this broker and invest money in a genuine broker.
Final thoughts
All Scams Reports advise the investor to avoid investing money with a Ualgo broker. They don’t have any regulated license and involving in a Forex scam. All such points show that this broker is involved in suspicious activity, and your investment is at high risk.
If you are a victim of Ualgo scam, the All Scam Reports Team helps you out with this situation of Fund Recovery. Fill out a small complaint form, and we will help with a free consultation. Also, if you like to trade, please do it carefully. All Scams Reports helps you to find a regulated and trustworthy broker.