Beware! Aragon-Trade.net is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
When a brokerage website opens with a long and suspicious bonus promotion, you know that you are about to deal with a deceiving broker. One way we know this is through sheer experience, but we also know that very few legit regulators tolerate bonus offerings, which can be incredibly misleading. Aragon-Trade.net Enter Aragon-Trade.net, yet another scammer entity that does what we just talked about; but it’s far worse than that. Read the review to find out.
The easy registration does not act as a good sign here as well. This just invites more users to invest and lose money, and that’s the reason why it’s so easy to register; the more users the higher the deposit count!
But this was not the worst part of the whole thing. The user area was designed in the typical unfinished and shady design, but that’s nothing compared to the complete lack of a software. No software means that there are no trading asse3ts available, no spreads applicable, and no leverages, no matter what the website claims
ARAGON-TRADE.NET REGULATION AND SAFETY OF FUNDS
Aragon-Trade.net proves here that it is the utmost ridiculous broker, with little to no shame at all. Because in order to state that you are a Swiss based broker is to basically assert that you are better than 95 percent of all other brokers in the industry. It this may be true for actual Swiss brokers, but definitely not for this one.
For one, every broker in Switzerland must hold a license from FINMA, one of the most demanding and scrupulous regulators in the world, definitely up there with the United States CFTC and NFA. FINMA is arguably the most rigorous regulator in the whole of Europe, which is home to the likes of the FCA, CySEC, and BaFin, so you know you are dealing with a serious regulator.
But the overseer has nothing to say about Aragon-Trade.net, and there is no legit reason why it should. Furthermore, there is no mention of FINMA anywhere on the site, so there you have another reason why not to trust Aragon-Trade.net.
For this broker is exceptionally unregulated, and a big risk to all investments, if there ever was one.
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.
ARAGON-TRADE.NET TRADING SOFTWARE
There is no software here; the more we review Aragon-Trade.net, the more it distances itself from the “broker” label. But it does not leave its clients empty handed, for here the replacement for a software is a set of investment plans:
These are utterly ridiculous claims, and very simple money-stealing schemes. There is no reason to believe that your next deposit at Aragon-Trade.net will be generating .3% of profit per hour, because there is no feasible or practical explanation of the origins of these funds. Once you invest this money you will lose it forever.
ARAGON-TRADE.NET DEPOSIT/WITHDRAW METHODS AND FEES
There are a total of 7 different crypto wallets in the user area, all to be directly invested in. The user has to copy the address and then directly send money to it, without any reciprocal proof that her funds will be reflected in the trading account. The broker accepts any payment, even as low as $1.
But we must remind users of the packages, where the minimum investment requirement is $1000. But still, the shadiness of the crypto wallet speaks of itself, so the $1 amount will be considered as a minimum requirement.
There are no withdrawal details whatsoever here. The broker has not revealed a single clause exposing even the bare minimum of conditions. We have no clue if there are fees, nor do we know for sure if Aragon-Trade.net allows for withdrawals. Taking its scammer nature, it probably does not. All investments here will be lost.
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.