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You might be being targeted by a con artist as you read this. In this day and age, where the most recent technology is always available at our fingertips, we frequently take the internet for granted and prefer to ignore its negative impacts.

In recent times, we have had a lot of complaints about a fraudulent platform called Ualgo, it has been brought to our attention that there’s a fraudulent scheme going on there with the aim to steal from investors. The IOSCO and FCA  also confirmed in their publication that  Ualgo is a scam platform. Just to clear any doubts,  Ualgo is a SCAM.

If you have been scammed and you are looking for ways to recover your money from Ualgo, visit the The Capital Co (www.thecapitalco.net) website at www.thecapitalco.net.

The Capital Co (www.thecapitalco.net) provides international financial fraud investigative measures aimed at helping victims of financial scams recover their money. The Capital Co (www.thecapitalco.net) was founded to protect and help victims of investment scams with the assistance of sophisticated asset recovery specialists globally

Scams have a specific yet typical method of locating their victims, whether it be by having the victims click on random links included in emails or download attachments, take a random quiz that pops up an advertisement and requests personal information, or receive a cold call touting the endless benefits of opening an account with a particular brokerage firm.
Scammers tempt their victims with alluring deals and discounts with the potential to lead them into a financial trap. Before creating an account with a broker, there are a few key characteristics you should look for. We will share these with our readers in this section. Keep in mind that no one has a claim to your money.
With four different account types, competitive spreads, and a web-based trading platform called Sirix, Ualgo is positioned as a trustworthy broker who offers a wide range of trading instruments, such as forex pairs and CFDs on stocks, commodities, precious metals, indices, and crypto coins.

Additionally, they advise complete adherence to EU financial services legislation, which sounds great—if only there were a good reason to believe them. Do not make any deposits with Ualgo until you have read the following evaluation since they are yet another unregulated offshore broker with very little credibility.

Ualgo is it real?

Because they lack a valid forex license, Ualgo is not a legitimate broker. Therefore, it would be far wiser to look at our list of trustworthy, UK-regulated brokers.

UMedia LLC, an offshore business with St. Vincent and the Grenadines as its basis, is the owner and operator of Ualgo. Unfortunately, UMedia LLC is not governed by any recognized financial organization, such as the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, or the Cyprus Securities and Exchange Commission (CySEC). As a result, they cannot be trusted.

Otherwise, St. Vincent and the Grenadines makes it quite simple to set up an offshore corporation, and since the local government there doesn’t oversee the forex industry, many dubious brokers and outright crooks do operate from there.

Furthermore, Ualgo does assert that they completely adhere to the European Markets in Financial Instruments Directive (MIFID II), but there is no reason for us to believe them given that offshore brokers and integrity are inherently contradictory ideas.
Regulation and Ualgo:
As you are all aware, one of the most crucial things to look for while looking for a brokerage firm is the regulation. The regulations put up hurdles to ensure that scammers stay away from the business due to the rising entrance of scammers into the market. They introduced the licenses to facilitate this.

A corporation must pass a number of exams before it can obtain a license. These tests are not straightforward, despite what they might seem like. If a business does not have a license, it is NOT AUTHORIZED and is not suitable for trading.

Can I profit from Ualgo?

No, an unregulated, offshore broker will just try to con you; you cannot make money with them. Instead, look at our list of regulated brokers in the EU.

Since they are not legally required to abide by any regulatory requirements, unregulated brokers can easily create their own standards. The inactivity policy at Ualgo is an effective illustration of this.

According to Ualgo, you may be assessed a 5% administrative fee or 25 EUR, whichever is higher, if you have not traded for a specific amount of time (without specifying how long), or if you have not traded enough in accordance with the broker’s “determined standards,” or if your funds do not cover some minimum required amount. Just have a look. No legitimate broker would ever include something like this in its Terms and Conditions; it is utterly absurd.

It is also inappropriate for Ualgo to reserve the right to charge you more money at any time and without warning. Examine this as well.

In addition, Ualgo freely acknowledges that they serve as the opposing party to your trades, acting as market makers, while simultaneously assuring you that you would receive “professional assistance from their advisers” who will be discussing their methods with you. Look it over:

An excellent illustration of a conflict of interest is this. Any advice that Ualgo’s experts may provide you will undoubtedly be aimed to make you lose everything for their own profit since they clearly profit from their clients’ losses.

Last but not least, Ualgo shows a special slide with supposed withdrawals, giving the impression that you are ready to make a lot of money using their platform.

No trustworthy broker would act in that manner. In fact, brokers that are governed by EU and UK regulations are required to publish a warning with the precise percentage of traders who lose money on their platforms—a percentage that almost never goes below 70% to 75%.

What is the Ualgo minimum deposit amount?

Since taking big amounts as the minimum deposit is not recommended by the regulations, trustworthy brokers typically ask for extremely small amounts as the minimum deposit. However, scam brokers frequently follow the custom of demanding enormous minimum deposits because their primary goal is to defraud the trader of as much money as they can before they become alarmed.

The typical amount requested by trustworthy brokers ranges from $5 to $10.Ualgo allows trading with micro lots and accepts deposits starting at $100. However, since they are anything but legitimate, we may also recommend that you look through our list of brokers who also offer micro accounts.

Otherwise, Ualgo offers four account types—Bronze, Gold, Platinum, and Diamond—without specifying the minimum deposit amounts for any of them.

What kind of leverage is offered at Ualgo?

Leverage is yet another typical aspect that a potential client should look for while researching brokers online. Levers are supplied in tiny amounts because they directly bear the danger.
We found that the default leverage on the broker’s trading platform was up to 1:100. However, as the broker has zero repute, we can also publish our list of brokers who provide leverage up to 1:500 here.

What trading platforms does Ualgo offer?

Sirix, a well-liked platform with an intuitive user interface and access to sophisticated market indicators and charting tools, is offered by Ualgo. However, because Ualgo is an unregulated broker, we can also provide connections to brokers who support MetaTrader4, MetaTrader5, and cTrader, three of the most robust and adaptable trading platforms available right now.

You can also look at Ualgo’s Sirix platform from this point on.

What forms of payment are accepted by Ualgo?

Bank wire transfers and credit card and debit card payments are both accepted by Ualgo. However, as this is an unlicensed, offshore broker with low reliability, you can also check our list of brokers that also accept credit cards here.

To recover your money from Ualgo, consult the asset recovery experts at The Capital Co (www.thecapitalco.net), with an excellent record in fund recovery, your case won’t be an exception. Contact The Capital Co (www.thecapitalco.net) now.