Bitfargo trading scam: thousands of investors ripped off

Home » Bitfargo trading scam: thousands of investors ripped off

The prospect of quick and easy money has already lured millions of investors into a financial trap. Bitfargo scam is also based exactly on this principle. The broker promises a simple and effective investment and lures investors with fantastic returns. However, the mood changes at the latest when investors want to withdraw these from the trading account. Numerous traders speak of deliberate withholding of payouts and lack of communication with the broker. A lot of things point to a deliberate Bitfargo scam!

This is how the Bitfargo scam works
This is not the first time the fraud alarm has been sounded in financial trading. Time and again, companies pop up that lure investors with promising returns and ultimately make off with investors’ money. The broker Bitfargo also smells of such fraud. More and more often, investors complain that the broker does not make any payouts. It seems that the Bitfargo rip-off is a methodical approach.

Traders report that they initially made smaller deposits, which apparently generated profits. The deposits were gradually increased until the broker encouraged the traders to make even higher deposits. If they wanted to make withdrawals from the account, contact with the broker sometimes breaks off completely or becomes significantly more complicated. Individual investors also report that Bitfargo requires possible taxes and fees before the withdrawal is possibly carried out.

Broker without license and imprint
The fear with Bitfargo fraud is that investors have never really invested in the financial markets. Again and again brokers were mentioned in the consumer protection news in the past, which merely feigned an investment to their investors. Prices and profits were not real. Bitfargo is also likely to have taken this path, especially since several aspects of the broker point to a dubious mode of operation. For example, the provider does not have a license. It is therefore a broker that operates without official control. This opens every door for a Bitfargo scam. Moreover, it is particularly suspicious that the broker’s website does not list a contact person or an imprint.

Bitfargo rip-off: What victims can do
At this point, investing with Bitfargo can only be advised against. Anyone who fears to have become a victim of the Bitfargo scam should first try to make a withdrawal from the trading account. If this is possible, the amount should at best be “pushed” to another broker, and the account at Bitfargo should be closed. Suitable and reputable brokers can be found in the trading comparison. All brokers listed there have the license of a regulatory authority and at the same time are actively committed to protecting the deposits of all investors. Even if the broker is in trouble, various safeguards usually ensure the protection of the investment amount. If Bitfargo refuses to pay out, the only option is to go to a lawyer. However, it is difficult to estimate the chances of the money being returned.

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