EUTradego Review – Vanishing Act Leaving Victims in the Dust

Leaving a trail of victims in its wake has earned the EuTradego scam more than a few public warnings issued by influential financial authorities. 

This EuTradego review is a shocking exposé of financial deceit that took place on a domain that’s now out of function. Whether it’s the regulators intervention that caused the domain to go blank or the fraudsters decided to vanish, those who suffered the most were the investors themselves. 

Is EuTradergo a Legitimate Forex Trading Broker?

EuTradergo is an unregulated trading brokerage. That much is clear. The company doesn’t list the official owner or the legal jurisdiction, meaning raising a question about the regulation is pointless. However, we tried to find some proof of legitimacy.

We found nothing after searching through the registers of FCA, ASIC, BaFin, and other significant authorities. It means that EuTradergo is not legit, and your money is at risk.

The company claims to operate from the UK but is not registered with the local authority. In addition, it doesn’t comply with ESMA in terms of leverage limit. According to the EU watchdog, the leverage cannot exceed 1:30 for retail traders. And yet, EuTradergo is offering 1:200 to 1:500, clearly violating all the regulations.

EuTradergo Warnings From the Regulators

This unscrupulous entity, known for defrauding unsuspecting individuals, has now either vanished into thin air or faced the inevitable shutdown, rendering the EuTradergo website inaccessible. Prior to this expected outcome, there were a bunch of public alerts, published and reposted by various authorities, mostly those that operate in the EEA. 

The first to warn the public about the dangers lurking on this shady site was FCA. This warning was shortly after publishing reposted by IOSCO, FI, FINANSTILSYNET, CNMV, A-TVP, and CONSOB. German BaFin decided to conduct their own investigation that resulted in the same conclusion – the firm was blacklisted as an anonymous sham that targeted Forex newcomers. 

Victims are now left struggling with the EuTradego withdrawals, so we advise anyone facing this issue to contact our recovery service. 

Customer Reviews Lacking

Despite the claims about being popular and much preferred by the majority of active Forex investors, the firm managed to operate from the shadows. 

The cons left no trace of their activities on the most prominent review platforms such as Trustpilot, Trustedrevie and Sitejabber where only one review was ever posted and it was a 1-star one. Closer examination reveals a striking absence of any ratings on any of these widely recognized review websites or less popular ones. 

This could be a deliberate effort to maintain a low profile or the website was simply so unknown and unpopular that it was very rarely frequented.

EuTradergo Scam Victims – Where They Come From?

The EuTradergo website was registered through NameCheap on the 16th of February, 2023. The brokerage places ads, enticing traders to provide their phone and email. Then, broker employees can start their hunt for the victims.

The majority of those who this brokerage defrauds come from:

• Germany,
• Austria,
• UK,
• Switzerland.

Once you are hooked, getting your money back will be nearly impossible. Be cautious of unregulated Forex brokers.

Trading Platforms and Accounts – Is the Offer Good?

We’ve covered some basics, so you wouldn’t have to. Let’s see what kind of platforms and accounts you can get if you hand money to this broker. Small tip, don’t expect too much.

EuTradergo WebTrader

Once you create an account, EuTradergo login to the platform is done through WebTrader. You can select the software and be prompted to enter your account details. However, we have to warn you that you will remain disappointed. This software has no advanced functionalities but only basic things like trading history and pending orders.

This is why we always advise our readers to go with legitimate brokers offering MetaTrader or cTrader. Both MT4 and MT5 have millions of users thanks to customizability and various add-ons for better market research.

On top, each of these offers a mobile app for Android and iOS. The WebTrader doesn’t.

Account Types Choice

You can find four different accounts on the website:

• Standard – $5,000
• Silver – $25,000
• Gold – $50,000
• VIP – Invitation only

Despite this list, the FAQ section indicates that the minimum deposit is $250. However, we assume that you will have no benefits until you upgrade to a Standard account.

Once you join the “accounts” league, the leverage will increase from 1:200 to 1:500, while you can also get help with market research, a senior market analyst, and the business plan. It’s on you to decide if these mere perks are worth risking so much money.

Trading Terms – Leverage and Fees

If you trust the web page, starting spread is 1.5 pips. However, without a Demo account, we’re unable to confirm it.

As per leverage, it’s against all the laws in the EU and the US. The EU is following the ESMA directive that sets a limit of 1:30 for retail traders due to high risks. For the same reason, the US NFA set a limit of 1:50. On the other hand, EuTradergo is offering from 1:200 to 1:500, proving they cannot be based in the UK and cannot be licensed.

EuTradergo Withdrawal – How to Get Your Money Back?

Since we all trade to earn money and get it from the trading account to our bank, this is one of the most important questions. According to FAQ, a withdrawal can be made after you submit all the necessary documents and verify your account. And this would be fair enough if it was so simple.

According to reviews we found, this brokerage doesn’t approve payout requests. In fact, they delay you and give you all the different excuses. In some cases, account managers can even ask you to cover alleged taxes and payout fees. Of course, you won’t get your money back even after you do it.

The company says it accepts debit/credit cards, wire transfers, and popular e-wallets. However, as explained, you might have lots of problems getting your money back regardless of the payment option.

EuTradergo Support – Can They Help Me?

If you’re having any trouble with your account, you can try to contact the EuTradergo support team. However, the only means of communication is the web form. Practically, you can submit your request and wait for someone from the company to get in touch.

There’s no EuTradergo phone, email, or any other, more convenient way. Your ticket can easily be forgotten and you may never get the needed assistance.

What to Do If I Was Scammed By EuTradergo Broker?

If you find yourself scammed by EuTradergo or a similar trading brokerage, let us know immediately. Our chargeback experts will look into your case and find a way to assist. Getting your money back is possible as long as you can present sufficient evidence.

Our recovery specialists have been working on cases like these every day for ages. We know how to find a way around scammers’ excuses. Book your free, non-obligatory consultation now, and let’s begin!