Ualgo Review

Read our Ualgo review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an 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 Ualgo 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.

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 Ualgo 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.

Ualgo Review Conclusions

Making the Ualgo 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 Ualgo 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]
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

Ualgo Review
ualgo-review-ualgo-com-scamRead our Ualgo review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an review. Who are they? After taking a look at their website, it shows that they do not fall under any regulating agency....


  1. Ualgo is very bad company every thing is written above is 100% true I lost 11000$ and still my money in them website and I can’t get it back .
    They promised me they will give me back my money but I didn’t get any thing back .
    I need help.

  2. Ayman … Ualgo is very bad company every thing is written above is 100% true I lost 10000$ and still my money in them website and I can’t get it back .
    They promised me they will give me back my money but I didn’t get any thing back .
    I need help.

  3. This is very bad company. Where is my money.
    I missed 4000
    Mona and Salma kontakt with us. Everyone they will transfer more money. Iam recorded all calls through us.

  4. Everything written about them is 100% true , they are a fraud company.
    They stole all my money, the agent was working with me her name is salma she talk too much and lies too much.

  5. Scam of all times! I have their names, numbers, and an e-mail.
    +44 7488 871049 – this one is for UK
    +32 2 320 29 72 – this is for Belgium
    +32 2 320 29 74 – this is for Belgium
    Name Lukas Vinko as Senior Account Manager, [email protected]
    They thought i was stupid to give them money throw an account that is suspicious!
    I hope they be arrested soon, they are having lots of money this way!

  6. agree, Scam!!!
    they called in Finland from these numbers:
    +358405847873 (0405847873)
    +358505744853 (0505744853)
    One of them was named Viktor.

  7. I’ve also been called with 06-12065732 / +31612065732.
    +31 is dutch, but they speak english, so that was a red flag for me.
    Dus pas op medenederlanders is dus oplichting!!

  8. I was called by their managers yesterday. I´m in Czech Republic. The incoming number appeared +420 797 845 977 (which is Czech prefix) The lady spoke to me in English. Later another guy presentated himself as Antonio Fredricks “senior account manager” [email protected] (English speaking with some accent)- he sent me an email as well. He told me he is physically located in Zurich – after my request where the company has its official place. He gave me another man who s name is Michael if I remember. Then the call was cut. Again I had calls from +32 2 681 03 12 (Belgium). They didn´t want to leave me finish the call etc. I find it suspicious.

  9. They call me to with this number
    +31 6 23 90 26 35 and
    +32 2 681 02 95
    Tried to scam me but was very suspicious. I made my research first . He told me his name is Michael and he told me they are located in Zurich. I asked him where he got my name. He said he saw it when I registered on Amazon. We should do something against them. Very bad people

  10. @ Brenda – so similar to my experience. Also Michael. Antonio told me the same thing about Zurich. Upon my request since I found weird how/where they got my cellphone number. Where are you from? Seems this scam goes now across Europe 🙂

    @Ismail – I was not scammed. SO I can´t say. In fact they did nothing to me. Juste very suspicious. In your place… well what you can do – go with your local police department and ask if/ how they can help you no? But I guess it will be hard for police to track such a “company” the adress they have on their site doesn´t exist. There is not such a street name in the swiss town they mention. If they are in Zurich – who knows, believe or not. They called me from numbers that are Czech Republic (my country), from Belgium, from Cyprus. Other guys here mention even other places. Sure they got some “virtual” numbers no? Bye, Tomas

  11. Hello, I did not give them any money. They called me from phone number in the Czech republic +420773509611. I have account because I wanted to know about them more. Are they Arabic? Suspicious.

  12. I received a call from +32 2 681 02 95. I am a full-time trader and I never heard about them. That already made me cautious. When they ask who I am trading with and I mentioned FTMO, they don’t know who that is. Every broker should know who FTMO is. Alarm bells go off. He then directed me to the website. When typing the name ualgo, I just see scam alerts appear all over the google search. I then ask him if I can open a demo account first (trying to test him). He insisted that I open an actual account immediately. I then challenged him that I want to see how they execute orders, respect take profit levels, what the spread is, etc. No trader will just open a live account. He insisted and was pushing me to open a live account directly. I cut the conversation short, told him that they are scammers and I put the phone down. STAY AWAY, THEY AFTER YOUR HARD EARN MONEY.

  13. Ualgo very bad company until now they not transfer my money back almost 17000 usd I tried to withdraw no use please help us to refund our money back the broker name Salma


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