TFXGO (Tfxgo.com) is a CFDs and Forex broker scam that’s waiting to steal your hard earned money. Tfxgo is a fraudulent broker who is claiming to have the most reliable trading platform since 2015. A dealer in CFDs, Crypto Currency and Forex, we simply cannot open an account without conducting an investigation. Commodities, Indexes and Stocks are also their tools of trade. Read this detailed and honest review of TFXGO.
As with most Forex scams that we have seen, this is no different. They have used the same bag of tricks as with other scam products in the market. Only difference is how TFXGO has managed to fool many with their website. Once you visit their website, you will realize that they have a well-designed website. That’s what these scammers are after, to make the first impression count. How do they do this?
To begin with, they have created a user-friendly website that’s easy to navigate. They have also used captivating images to make the website appear real. However, don’t be fooled by the content and images on this website. There’s more than meets the eye with TFXGO and this is what we will expose. Make sure to read this entire review as we will expose all the dirty tricks used by this broker.
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It’s not clear who actually owns this website which brings us to our first notable red flag. According to the disclaimer at the footer of the homepage, this website is RECOGNIZED by CHFB Limited. What we did was conduct a search using this website, companies house, to try and get TFXGO. As we expected, this companies checker has no results bearing anything close to TFXGO. This statement can be easily verified by you, the reader.
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Another disturbing factor with this broker is that they fail to issue names of owners. No one knows the real owners of this brokerage house. Who is the CEO or CFO of TFXGO? Failure to produce this vital information leads us to believe we are dealing with a hoax Forex broker. That’s not all; this broker is posting fake details about ownership on their own homepage. What more are they hiding from us, any more fake content?
TFXGO is not licensed or regulated anywhere on the face of the planet. This means that they have posted fake credentials at the footer of their homepage. Disclaimer at the bottom of the homepage clearly reads that this broker has a registration number. 11618059 is the number posted on the disclaimer. Folks, this is another fake detail posted just to try and make their platform appear legit.
Why haven’t they posted copies of their registration certificates and documents? A real broker will post certificates and documents to prove authenticity and transparency. Failure by this broker to produce these certificates is proof we are dealing with a fake broker. TFXGO is not licensed to conduct any Forex transactions on behalf of any third parties. Don’t sign up with an unlicensed broker as this will mean you are not protected by the laws.
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According to the platform page, this broker uses MT4 trading platform to conduct Forex trading. And this is where we faced our next red flag. This platform did not complete download as it stalled at 12%. Any expert will tell you to stay away from an unstable platform.
Unstable platforms are bad news for any trader as they leave users open to cyber-attacks. Hackers find unstable platforms easy breeding grounds to steal personal data as well as credit card information. Once hackers gain access to your credit card details, your bank account will be depleted in minutes. That’s why we are strongly against the use of this platform due to huge safety concerns.
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TFXGO offers three different account types to users. These account types include Gold, platinum and diamond. With Gold account, members are required to make a minimum deposit of 10,000 Pounds to start trading. Platinum account on the other hand demands a minimum deposit of 25,000 pounds. With Diamond account holders, users are required to make a minimum deposit of 50,000 pounds.
Gold account does not have a direct line to a persona account manager which is unusual. With a user making such a huge depository amount, they should have a personal account manager. This account lacks detailed event analysis, educational programs and expedited withdrawals. How can they expect users to sign up with accounts that have these restrictions? This broker simply wants users to sign up and close down shop later.
Funds are never safe with a broker who has fake credentials. Security of funds is not guaranteed with brokers who are not licensed by regulatory bodies. Why has this broker failed to disclose where they bank money deposited by users? Folks, this broker is omitting these crucial details for a reason. They simply don’t have the capacity to conduct a legitimate Forex trading exercise on their platform.
Accounts here are not segregated by this broker. This means that they are pooling funds in one account which is very risky. In case of bankruptcy or insolvency, members will lose all their money at once. This broker does not participate in a compensatory scheme. It means you shouldn’t expect any compensation from them. Did you know that members could be depositing money to owner’s personal bank account?
There may be a chat support box on each page but it doesn’t work. This broker will ask for your email when conducting the chat, once you give them, that’s it! Message pops up that your message has been sent and support team will contact you soon. This means that their live chat doesn’t work at all! Why would they claim to have a chat service that doesn’t work?
What this means is that we are dealing with a Forex broker who doesn’t want to be contacted. This is a classic scammer’s move where the scam is to get information on users and send sign up emails later. They don’t want face backlash from authorities and victims. Best thing to do is to stay away from this broker and sign up with a legit broker. A broker who is not available at all times is not worth your time.
TFXGO is a scam that waits to pounce on users who don’t know much about Forex trading. From the level of anonymity to fake registration claims, this is another Forex scam. Make sure to mark all their emails as Spam and never click on any links sent by them. Technical team has linked these links to malicious malware that steals personal data. Stay far away from this shameful Forex product.
TFXGO is a ruthless broker that simply wants to run away with your money. Only option we have is to add this broker to our scam blacklist. We just hope authorities will investigate and shut their whole operation down. This is the only way to guarantee newbie traders and investors are safe from this scam.
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Finally, we wish you all the best in Forex trading.
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