Fargo Investor Review: Investors Beware of This Online Fraud

There’s one thing this faux brokerage is certainly right about: “Choosing the right trading platform can make all the difference in your trading journey”. Now the fact that they desperately try to pass as a legitimate business is something else entirely.

Read our Fargo Investor review to learn what to avoid when deciding what platform to invest with and what you can do to recover funds stolen by swindlers.

 Complete Anonymity

As soon as you start investigating this broker’s background, you’ll hit a dead-end. There is no information about their owning company or who runs the website. Since there are zero details concerning the firm’s headquarters, registration and location, we couldn’t consult with any business registers.

The company is most likely not registered as a legal entity. The scheme only exists online and operates via the website we’re reviewing. This is the first red flag we encountered on the site, and it makes us unable to recommend this brokerage for any kind of investing.

Warnings Clarify the Confusion

If there ever existed any doubt about the Fargo Investor scam, the regulatory warnings have cleared it. Several prominent regulatory bodies have published alerts concerning this firm’s fraudulent business.

It seems that this unscrupulous platform is particularly focused on defrauding Canadian investors, since they’ve been first blacklisted in this country. ASC, FCNB and CSA have already flagged the platform as a scam and IOSCO has reposted some of these warnings.

Insidious Strategy at Work

Online fraudsters rarely rely on the website itself to attract any clients. Instead, they employ so-called boiler room agents. The agents work in a scam call center, and make first contact with the victim by calling them directly.

Schemers will, as was the case with Mega26, claim to be financial professionals and pitch a lucrative investment opportunity. Their goal is to get as much money as they can, so they will be coming back to ask for more.

Through a series of manipulative actions, they will make their marks believe they are actually earning a lot of money. Unfortunately, the profits are completely fake, and are used only to start an up-front fee scam.

Reputation Built On Lies

Similar to the XTrader scheme, Fargo Investor reviews on TrustPilot are mostly written by review seller networks. The company has claimed their profile, but hasn’t posted their details, and does not reply to negative comments.

The fraudulent group is trying to cover up its bad reputation by posting two positive comments for each negative one. If you read the negative testimonials, you’ll see that the clients are complaining about the exact fraudulent behavior we’ve already explained.

Beware of Fake Recovery Services

We have noticed that the testimonials on numerous platforms, including Reviews.io, contain ads for fake recovery rooms. You can spot them by the uncanny way they are written.

This is because the charlatans are trying to fool the automatic spam and advertisement detection. Comments that say, “Look at my profile picture for details” or use strange spelling or punctuation of websites or company names are other fraudsters in disguise!

Newly Purchased Domain

The fargoinvestor.com domain was first created only in April 2024, which makes it a pretty recent platform. The lease of the domain is only for a single year. Much of the website traffic originates from these areas:

• Canada
• Germany
• United Kingdom

Cybercriminals build their websites to last only a few years before shutting them down and disappearing. Don’t let them get away with your money – contact our recovery experts today!

Types of Trading Accounts

Fargo Investor account types are arranged in tiers. They are structured this way so that the boiler room agents can ask for more money:

• Beginner’s Choice – $250
• Silver Shield – $10,000
• Golden Opportunity – $25,000
• Platinum Privilege – $100,000
• Fargo VIP – $250,000
• Elite Tier – $250,000
• Luxury Living At Your Fingertips – $500,000
• The Ultimate VIP Experience – $1,000,000

Site visitors aren’t able to create an account by themselves. They can only leave their contact information, so that the swindlers can call them back at a later time.

Barely Functional Trading Room

Most con artists offer some pretense of actual trading to keep their victims complacent. No matter how good the app’s quality, though, remember that unlicensed firms have no real market access.

In this case, the Fargo Investor platform is a ramshackle WebTrader that doubles as a client dashboard. The software is not impressive, as it only features a chart, asset selector, and buy/sell orders.

Range of Supported Instruments

To maintain the pretense of any Fargo Investor trading activity, the cons have made these asset groups available:

• Forex – EUR/USD, USD/JPY, NOK/SEK
• Cryptocurrencies – BTC, LTC, ETH, XRP
• Stocks – Goodyear, Hasbro, Ford
• Commodities – Brent, Rice, Gold
• Indices – S&P 500, IBEX, Nikkei
• ETFs – VanEck, iShares, GlobalX

Bear in mind that the app is barely working as it is. This means that some of the listed instruments won’t load properly when selected.

Obfuscated Fees and Commission

Very little, if anything, is discussed about the trading parameters. The Terms and Conditions document mentions leverage, commissions, fees, swaps, taxes, premiums, and other costs, but never gives any tangible numbers.

Only the account inactivity fee is explicitly stated as $49 each 60 days. Of course, the client has to comply with paying all of these hidden costs before the account creation will be approved in the first place.

Withdrawals Aren’t Released

The website does contain Fargo Investor withdrawal and bonus policies, but these are just for show. None of the information therein makes any legal or financial sense, and the papers serve only to confuse the traders further.

Per these, the only accepted payment and payout channels are cryptocurrency transfers. Still, the site advertises bank cards and wires. In truth, the cons won’t shy away from money no matter how they receive it.

What You Can Do to Get Your Money Back

All in all – is Fargo Investor legit? Most certainly not. Not only is the company completely unauthorized to provide any service, but we have found numerous regulator warnings.

All of the platform’s design particularities point towards the fact that we’re dealing with a fraudster. While the invested money was stolen, it did not actually disappear. With the help of our recovery experts you can get it back, so consider booking a free consultation as soon as possible.

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