The online forex trading platform has seen a surge in demand with the recent increase in people’s interest in investing. Due to the high demand, many fraudulent companies have also emerged. One such company is Anchgo Limited, which has been reported by various traders to be a scam broker. In this article, we will give a detailed review of Anchgo Limited and its trading services.
Company Overview
| Broker Name | Anchgo Limited |
| Website | https://anchgogrouphk.com |
| Location | Room 2001, 20/F, Admiralty Centre, No.18 Harcourt Road, Hong Kong |
| Regulation | Not regulated |
| Warnings | Multiple |
Team
This broker claims to have a good team to help traders for making trading strategies. But, we did not find any information regarding the team member. Even if, they did not disclose any information about their account managers.
Services and Products
Anchgo Limited offers various trading options to its clients, including forex, commodities, and cryptocurrencies. However, traders need to deposit a minimum of $500 to start trading on this platform. Moreover, the company also claims to offer high-leverage trading, which could be a major risk for traders.
Trading Platform
The trading platform offered by Anchgo Limited is a web-based platform, which is not user-friendly. The platform lacks many essential features like charting tools, technical analysis tools, and market news updates. Due to the lack of essential features, traders may face difficulty while trading on this platform.
License and Regulation:
License Status
According to their website mentioned address, they are located in Hong Kong, but when we searched for the license from the Hong Kong authority, we did not find any license, Moreover, we find a warning issued by the Hong Kong financial regulatory body. We will show the details in the legal warning section.
Regulation Status
First, we showed that they don’t have any license from their own country. Then we tried to find other regulations from other regulatory organizations. But, the result was zero. They are not regulated or monitored by any organizations.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Should Not You Trust An Unlicensed Broker?
Choosing a licensed and regulated broker is essential for traders’ safety and security. If a broker is regulated, it means it has passed many compliance procedures and has agreed to follow specific guidelines set by the regulatory authority. On the other hand, unregulated brokers are not accountable to anyone, and any of their unethical practices can impose great risks on traders.
Legal Warnings Against Anchgo Limited:
Several regulatory bodies have published warnings against Anchgo Limited. We found Securities and Future Commission, Hong Kong issued a warning against this broker.
They mentioned that this broker is using false addresses and may use clone names to deceive traders.
Client Feedback About Anchgo Limited
About Their Trading
The trading services offered by Anchgo Limited are not up to industry standards. The lack of essential features on the platform, combined with the high commission charges, amplifies the risks to traders.
About Their Customer Service
Anchgo Limited’s customer service is not helpful, and clients’ queries go unanswered. This is a major issue for traders as prompt customer service is of utmost importance, especially in online trading.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a platform that specializes in investigating and uncovering fraudulent activities in the online forex trading industry. If you have been scammed by Anchgo Limited, you can report it to Reviewsadvice, we will evaluate the case and will provide you with a free consultation and service recommendations to help you in the recovery process.
Final Thought
You can see that Anchgo Limited is not a licensed and regulated broker, which should be a significant concern for traders. The lack of transparency about the company’s leadership and its services amplifies the risks to traders. Furthermore, the legal warnings against Anchgo Limited substantiate its unethical activities. We strongly advise traders to avoid Anchgo Limited and choose only licensed and regulated brokers.
