Anchgo Limited review – 5 things you should know about anchgo-fx.net

Anchgo Limited review – 5 things you should know about anchgo-fx.net

Rating: 1

Beware! Anchgo Limited is an offshore broker! Your investment may be at risk.

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Anchgo Limited’s interface seems familiar to us, and we realized soon enough that we have seen this same website structure with other suspicious brokers, all of which turned out at some point to be scams. Now, the reasons for this have been revealed in the review, but as a starting point the website is a good indicator of what direction Anchgo Limited has chosen to take. Read the review to uncover the real face of Anchgo Limited.

As a start, we were no able to create an account, because the broker never finished reviewing our account application. That is, it never did so on purpose, because we are more than sure that it passed their gaze at some point. It’s just that it never stroke it as an account application of anyone willing to invest.

And so, we were left to the mercy of the website, and just so you know what we talk about next is absolutely unproven trading information.

The website claims that the leverage is capped at 1:500, and the available financial instruments are forex currency pairs, precious metals, and crude oil. There has been no mention of any spread values. The trading information is not reliable, and not to mention that the firm is one-sided on the issue, meaning there is no real guarantee that it reveals the truth.

ANCHGO LIMITED REGULATION AND SAFETY OF FUNDS

The main legal detail here, and the only one for that matter, is a supposed address in the UK. When we see this we know that it’s game over.

A UK address suggests that the broker at hand holds a license form the local FCA, otherwise the address would be illegal. As is the case here.

Anchgo Limited does not hold a license from the FCA, and as a result, there is no legal notion here. Moreover, the UL address is a lie. It is very difficult to operate in the UK an illicit FX business; the authorities will very easily trade down the scheme.

There are no further details here. Anchgo Limited is obviously a scam and a risk to all! Do not invest here.

Always aim to invest in regulated brokers, and not illicit ones. It may not be easy to distinguish them from one another, but there is a way to make the process much easier. The crucial point is to check the legitimacy of the broker’s regulatory or registration claim. If nothing’s there, you close the site and move on to any European, UK, US, or Australian broker, or any other with a legal status. Being regulated is not just encompassed in a simple permission to offer FX trading service. It comes with a ton of responsibilities, most of which are concerned with the way the broker treats its users. Misconduct on the side of the broker either results in financial penalties or in total closures of the brokerage website in question.

ANCHGO LIMITED TRADING SOFTWARE

We have seen hundreds of brokers that do exactly as Anchgo Limited has done in its trading platform claims.

There is a promoted MT5 that has not been proven to exists at all. There is no download link, nor any direct access link to it. Moreover, without an account we cannot know what goes on for registered users.

With brokers like this one, it’s mainly a matter of false platform promotion; the user area probably holds some very shady web trader that barely functions.

ANCHGO LIMITED DEPOSIT/WITHDRAW METHODS AND FEES

We truly don’t understand why some unregulated brokers are so stubborn as to now reveal any payment details. This move, as we see it, is counterproductive to the scam, not that we support any of this. But any way you look at it, not including payment details is not a well though off move.

Anchgo Limited has done exactly that. There are absolutely no payment details at all, and the broker seems to keep them all only to registered users.

We suppose that this decision has been made on purpose, on the pretext that rookie  users – the broker’s main target audience – won’t notice the difference.

Usually, most unregulated brokers offer crypto based payment methods becasue they are untraceable methods, and most easy to steal deposits through. Other than that, bank transfer are also pretty reliable tools of theft.

Whatever you find about Anchgo Limited, just be sure not to invest nor register for that matter. This broker is a full scam.

HOW DOES THE SCAM WORK

Scammers use a couple of tricks that make up a big scheme that has not changed since its inception, meaning that it’s fairly easy to avoid it.

The fraud starts when the broker contacts the user, who has unknowingly provided his or her contact details in the past through some seemingly innocent channel.

Communicating with the broker might seem like a pleasant experience as the other side sweettalks its way to your wallet. The reason why most frauds target non-trading audiences is because they are more susceptible to this kind of verbal manipulation. Otherwise, users might start receiving emails with unbelievable good investment deals, none of which are actually lucrative.

The tipping point is the first deposit that scammers are so eager to sell. After this first investment, the user has fallen into the clutches of the fraudster. Either he will be pushed to invest more by false promises of further “profit”, or the client will want to get back his initial deposit, a request to which he is told that further investments are needed.

On whichever side of the coin you the user is, she will most likely never be able to withdrawal. All withdrawal requests will be denied for a plethora of equally ludicrous reasons.

WHAT TO DO IF SCAMMED

Once scammed, your safest bet is a chargeback. Contact your credit or debit card company and move on from there. It’s good to know that MasterCard and VISA have a chargeback period of 540 days.

Bank investments are more difficult to reimburse but not impossible. Most banks have some sort of strategy for dealing with lost capital, so the client’s best bet is to contact her corresponding bank and proceed from there according to the bank’s plan of action. We also recommend that users change their bank account username and password if defrauded.

As for crypto investments, it is unfortunate to say but there is no real way of getting lost money back through these channels. All crypto investments are untraceable, and there is no telling where the investor’s funds will end up.

Don’t trust recovery agents or agencies. These are either independent scammer looking to charge users “service fees”, or extensions of illicit broker schemes.

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