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FOGO

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Operating status: SCAM

Website: https://fogoforex.com

Broker violations and abnormal records
  • 2024-11-03 BrokersView has Reviewed that FOGO is an Unregulated Broker

    FOGO claims to be owned and operated by FOGO GLOBAL LIMITED headquartered in the UK, is a broker regulated by the the Money Services Business (MSB) of the United States, which offers a range of investment products to traders, including Forex, Stocks, Indices, Commodities, Crypto, Metals, Energy and more instruments for trading in global markets.

    Upon investigation, we found that FOGO GLOBAL LIMITED is registered with the US MSB, but the business of the MSB is only currency exchange, cannot license forex trading brokerage activities, and has no authorization for financial derivatives.

    And FOGO is not regulated and authorized by the United Kingdom Financial Conduct Authority (FCA).

    The truth is that FOGO is not regulated by any regulators. Letting it hold or control investors'money is unsafe, and the money can not be protected by any laws.

    FOGO is a scam.

    FOGO claims to be owned and operated by FOGO GLOBAL LIMITED headquartered in the UK, is a broker regulated by the the Money Services Business (MSB) of the United States, which offers a range of investment products to traders, including Forex, Stocks, Indices, Commodities, Crypto, Metals, Energy and more instruments for trading in global markets.Upon investigation, we found that FOGO GLOBAL LIMITED is registered with the US MSB, but the business of the MSB is only currency exchange, cannot license forex trading brokerage activities, and has no authorization for financial derivatives.And FOGO is not regulated and authorized by the United Kingdom Financial Conduct Authority (FCA).The truth is that FOGO is not regulated by any regulators. Letting it hold or control investors'money is unsafe, and the money can not be protected by any laws.FOGO is a scam.

Related Complaints

Q&A Complaints

Is this legit? fogoforex.com

Ilia Foo
Bulgaria
2024-11-06
ANSWER Dear Investor,We believe FOGO is a scam.The website appears to be hastily established, given its recent domain registration and use of a generic website template. The content of the site is untrustworthy, as it is template-based, generic, and lacks substance. While FOGO claims to have an MSB registration with the Financial Crime Enforcement Network (FINCEN), this registration does not equate to a license from a financial authority. Despite claiming to be based in the UK, FOGO is not registered with the Financial Conduct Authority (FCA).Therefore, we strongly suggest you avoid using FOGO to protect your funds and personal information. For a safer trading environment, it is recommended to opt for fully regulated brokers instead.
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