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ArgoFX

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Operating status: SCAM

Website: https://global.argofx.com/

Broker violations and abnormal records
  • Dec 14, 2023 BrokersView has reviewed that ArgoFX is an unregulated broker

    ArgoFX presents itself as a trading platform offering access to a variety of trading assets, including forex pairs, commodities, and indices. However, it is an unregulated broker.

    ArgoFX refers to itself under different company names in its legal notices. 

    In its Terms and Conditions, it states that the website is operated by Swilt Group Limited, supposedly based in Seychelles. However, our search in the Seychelles Financial Services Authority (Seychelles FSA) registry yielded no results for this company, indicating that it is not licensed or regulated in Seychelles. This is a significant red flag. 

    Conversely, in its Risk Disclosure Notice, it identifies itself as ArgoFX LLC. Despite listing a UK phone number as its hotline, our search in the Financial Conduct Authority (FCA)'s register found no record of it.

    Considering these findings, ArgoFX poses risks of fraud and identity theft. Traders interacting with it will not be protected by any regulatory framework. We conclude that ArgoFX is a scam and strongly advise investors to avoid it.

    ArgoFX presents itself as a trading platform offering access to a variety of trading assets, including forex pairs, commodities, and indices. However, it is an unregulated broker.ArgoFX refers to itself under different company names in its legal notices. In its Terms and Conditions, it states that the website is operated by Swilt Group Limited, supposedly based in Seychelles. However, our search in the Seychelles Financial Services Authority (Seychelles FSA) registry yielded no results for this company, indicating that it is not licensed or regulated in Seychelles. This is a significant red flag. Conversely, in its Risk Disclosure Notice, it identifies itself as ArgoFX LLC. Despite listing a UK phone number as its hotline, our search in the Financial Conduct Authority (FCA)'s register found no record of it.Considering these findings, ArgoFX poses risks of fraud and identity theft. Traders interacting with it will not be protected by any regulatory framework. We conclude that ArgoFX is a scam and strongly advise investors to avoid it.

Related Complaints

Q&A

Which agency is regulating ArgoFX?

JP Rossi
Moldova
Dec 25, 2023
ANSWER ArgoFX appears to be not regulated by any financial authorities. ArgoFX's claims about its operators are vague. In its legal notices, it refers to two different companies, but neither of them are regulated. This absence of authorization is a significant scam indicator.Therefore, investors trading with ArgoFX are exposed to fraud and identity theft, without regulatory protections in place to safeguard their interests. To avoid such risks, it is advised to stay away from such unlicensed brokers and instead choose fully regulated ones.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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