Read our Migo Trade review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a migotrade.net review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Migo Trade is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Migo Trade in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Migo Trade Review Conclusions
Making the Migo Trade review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Migo Trade review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
there are only 4 sites that have written about migotrade. exposedmagazine.co.uk which isn’t trading journal,
and other 3 “trading” journals where all of them have like 150 articles, the look amateurish and probably no one ever watched.
when i didnt answer they called 5 times. that some serious customer support… of course it isnt, no one online ever cares about you enough that they would try to call you 5 times. only scammer that wants your money would put such efford
I fell for their scam too. And I asked help from you sending an email just now. I hope you’ll answer.
Everyone who read this MIGOTRADE is a scam, don’t fell for it.
Scam company who cold call.
caiied me claiming to be old friend so i just kept them talking for over two hours afterall they were paying for the call, then i just hung up, they havn’t called back since, i wonder why? is it because i blocked their number. o dear
MIGO TRADE BROKER THEY ARE A SCAM BROKER SO AVOID THEM WHEN THEY PHONE YOU DISCONNECT THE CALL IMMEDIATELY FROM IRELAND
I too am a person who thy have scammed as well i have asked for my cash to be returned but they will not reply to my request and they phones now have been canceled from the mother comperny femmarking and are taking theses to the courts
Migotrade keeps calling me as well, about 12 times now, even though I repeatedly request them to stop calling every time. Latest numbers:
2021 Jan 18 +31621778348
2021 Jan 13 +31681937462
2021 Jan 12 +31620650366
When asking what they can do to stop calling me and when telling them I consider their calls harassment by now, they (sounding even proudly) say ‘will call you tomorrow!’ and hang up.
This ‘group’ cold called me. I’m in UK. One ‘assistant’ put me through to an ‘account manager’ who tried to engage me. They used a cell phone: 07520 092112. That is a UK number. I was out walking and told them I would look up the website when I got home. The chap on the phone got cross saying he wanted to talk me through the website. When I told him I could read a website without help he simply put the phone down. I’m glad I found these comments online to confirm my suspicions. Thank you.
Got a scam call from a Birmingham UK number +441216237988 on 29th January 2021, asking me to log in to their platform to deposit some 200 bucks. I entertained the caller for one good hour getting that person to Google search for their company reviews on the internet about their scamming !!
MIGOTRADE so prefinjeni prevaranti. Tudi mene so uspeli pokrasti. Prosim širite to negativno kampanijo čim hitreje in čim širše, da bo čim manj novih oškodovancev….
They called me yesterday, I strung them along for 3 hours plus. It was tiring but so much fun. I think they have just called again, but asked them to call back as I am in a meeting
MigoTrade is a scam guys, dont fall from them, the guy pushes you too much to put your money and get into the service with them. They can be very annoying and act unprofessional when you deny buying the service. Never believe on anyone who promises to double your money.
I got involved with migotrade in August 2020. I put the minimum in and then told him i wanted him to make me a profit before i would invest any more.He started like a train and i went from a balance of £250 to around £5000 by Dec. 4th. 53 trades with 53 wins. I was more than happy but then he put me into oil and gas and the losses started to come, not many losses but the losses i had were big and now i’m down to £1500 with a total loss of £3300. I am now trying to get my £1500 back but they won’t answer my messages so it looks like it’s going to be a long fight. Any advice would be appreciated.([email protected]) Don’t get involved.
They called me like 40x in last two months so i deicided to take that call. They offered mi protection shield but i would have to invest 118€ immediatley. They gave me their “succes coach” that was extremely pushh. At first the man talk with american english then started with russian accent. So after 20 minutes of conversation i hanged up. Of course i did not invest.
SCAM! They even call you back. Check this link, they fabricated a full fraud Forbes article:
https://singaroundtheworld.com/the-info-you-need-about-traveling/?fbclid=IwAR0qlBB-IewBd0eWhkBSBEodlyxW63DG8RT_o1szezrdZXaPSajUiChiA6Y
They have a yoputube channel where they try to say its a legit trader:
https://www.youtube.com/watch?v=pmORVyqzT6g
They delete every comment…. 🙂
Migotrade is just to lose money. I lost everything after only two weeks, although I did everything on the recommendation of a mentor. Don’t invest anything, scam !!!!
I am struggling to get mine back wi Migotrade. Never again will I be so stupid as to put money into them.
They are mobbing me, i politely ask them 10times to stop calling me and delete my phone. But they wont stop, i dont know what to do
They are compete SCAM !
I made an inital investment €210, then read about them here, and tried to return my money, but unsuccefully.
Don’t fall for them! They will never stop calling you, it is mobbing..but they don’t give you your money back. Following advice here I asked my Bank for the cashback…waiting
They are total scam! I have put just inital payment of 210€, but could not get them back.
Following advice here trying to do charge back over my Bank…and, yes, although I wanted my money back almost immadiately they didnt stop calling me…from all kinds of numbers…mobbing
Disaster..would never go into such a scam anymore..been scammed and insulted as well many times with Migotrade agents..
PREVARANTI! Klasika. Uplati malo, pokažu kako se uspješno ulaže i dobiva, a onda traže da uložiš puno, jer s puno uloženog možeš i zaraditi puno. Kada sam odbila uložiti više od početnog, nastupilo je vikanje, vrijeđanje, što sam prekinula. Broker se smirio, a ja sam počela sama ulagati i dobivati, nakon čega su me blokirali. Više ne mogu na stranicu. Zatražila sam, po njihovoj proceduri, povrat ostatka novca 2 puta, ali do danas nema povrata, a ni odgovora. Nisam iznenađena, računala sam i s gubitkom, uložila sam onoliko koliko sam si mogla priuštiti gubitka, ali, istina, mogla sam ih potrošiti pametnije. Svaka škola se plaća, na sreću, moja nije bila preskupa.
FRAUDSTERS! Classic. Pay a little, they show how to successfully invest and get, and then they ask you to invest a lot, because with a lot invested you can earn a lot. When I refused to invest more than the initial one, there was shouting, insulting, which I stopped. The broker calmed down and I started investing and gaining on my own, after which they blocked me. I can’t go to the page anymore. I requested, according to their procedure, a refund of the rest of the money 2 times, but to date there has been no refund and no response. I’m not surprised, I counted on the loss, I invested as much as I could afford to lose, but, true, I could spend them smarter. Every school is paid, fortunately, mine was not too expensive.
Have been scamed harrassed by Migotrade. Deposited 200 euros, initially. They refused to give a refund.
Just yesterday Afternoon, 19th of July 2021, I was called four times :
The numbers showed different countries, but it is always same voice.
Norway
Ireland
Romania
Southern Moravia.
Blocked the numbers, but they allways seem to come up with different sim cards.
Total croocks.
Migotrade, so najslabši na svetovnem trgu.
ko rabijo denar te kličejo, obljubljajo zvezde v oblakih(miljone)
potem pa delajo da vedno vse izgubiš.
Pa še pologi niso v redu, so me z moje banke klicali, da je to vse ena velika prevara.
PAZITE SE JIH.
Najveći lopovi koliko su ljudi već prevarili jer ovo što rade je međunarodni kriminal i sve te kriminalce kao što su Justin Andersen,Edmund, Antonio,i sve ostale treba uhvatit putem Interpola i sa njima na dugotrajnu zatvorsku kaznu.
Do not trust them. They have a lot of fake stories that lead you to financial ruin.
Thy just take the money and never return it.If you make a profit make sure the profit disappears.
Universal credit and Migo Trader are both a scam online trading company. I dealt with /antonio Bianco of universal trade and he convinced to me trade with them and later one fine morning I had lost and he convenienced me to deposit more and more and then again the website changed to Migo trader and then on 27th February 2022, they blocked from all telephones and online trading site and since then I am unable to trace them. Somebody tell me what to do as I want report them every where so that they do not cheat women who are my age 72.
I have all documentary evidence to prove my transaction and some authorities need to action against them.
Prevaranti sa vrhunski obučenim brokerima za lažno trgovanje!Ne mogu im ući u trag,jer je webtrader migotrade skinut sa interneta
(1/5)
Vrhunski obučeni prevaranti!
Nakon što su me prevarili,skinuli su WebtraderMigotrade.net sa interneta!
Tražio sam odgovor od brokera i slao mailove na njihovu mail adresu i na suportMigotrade sa upitima što se događa,ali se nisu javljali !!!
Migotrade is the biggest scan company I have came across. I been trading to trace them, just disappeared in thin early with all my money.
The Account Manager was Antonio Bianco. Furst operation with Universal Market and changed to Migotrader. Can someone help please. Thanks