The site is owned and operated by Fogarts LTD, registered in Singapore. According to the information, the broker positions itself as a globally licensed service provider. However, the firm does not show the IFSC license, which it allegedly received from the regulator. It is worth noting that the company does not disclose the names of its owners. Besides, the site has no legal address, phone number, or information about the project’s creation date. As for the domain, it was registered only in September 2023. In addition, the interface supports three languages – English, Spanish, and Italian.
Is it safe to trade on this platform? We will analyze the broker’s services and help you evaluate its reliability.
Fogarts offers the author’s platform, allegedly award-winning, but does not specify which ones. The company provides professional asset management services and gives clients access to more than 40 thousand trading instruments. You can deposit using bank transfer, credit/debit card, QIWI, Webmoney, or Bitcoin wallets. The company performs withdrawals within 15 business days, including 5 business days to process a request. The minimum withdrawal amount is $50. Your account will be charged a service fee of 3.5%, but not less than $30.00, and a withdrawal fee of €30 to €3,500. A monthly service fee of $50 is deducted from inactive accounts.
Fogarts portfolio includes 5 classic trading account types and 1 special one designed for those users who respect Islamic law. The differences between the account types are the minimum deposit amount and the number of services. The manager will help you decide which account to choose from the following options:
- Student from €250 – Minimum trade size 0.01, Spread 3, Consultation once a week, 1 training session “How to use trading indicators”.
- Standard from €5,000 – Minimum trade size 0.1, Spread 2, Consultation 2 times a week, 3 trainings on “How to use trading indicators”.
- Islamic from €10,000 – Minimum trade size 0.5, Spread 3, No hidden interest, commissions, or penalties.
- Investor from €100,000 – Minimum trade size 0.5, Spread 1.7, Dealer Mode, two weeks of “How to use trading indicators” training.
- Fogarts VIP from €500,000 – Minimum trade size 1, Spread 1.7, PAMM account, Dealer Mode, Consultations 4 times a week, Personalized trading strategies.
- Fogarts VIP Platinum from €1,000,000 – Minimum trade size 5, Spread 1, PAMM account, Dealer mode, 24/7 support of personal analyst, Personalized daily market analysis, Leverage for cryptocurrency trading 1:5.
The company guarantees the safety of clients’ funds through the Investment Protection Fund for all account types. Fogarts provides all traders with promotions and various bonus programs. The required trading volume for bonus withdrawal is calculated as the bonus amount multiplied by 50. The broker rewards participants of the referral program with a fixed amount for each referred client but does not specify its size.
Fogarts provides users with access to its collection of trading instructional videos. A ticker of currency pairs is located at the top of the site. The platform operates 24/5 except for holidays, from 00:01 GMT on Sunday to 23:59 GMT on Friday.
Would investing in Fogarts offer the best returns?
You are more likely to make losses than earn funds in cooperation with an anonymous organization. There is a very high risk of losing your investment on an unknown and unstable platform in unsafe CFD trading.
Does Fogarts carry out withdrawals?
It is unlikely that you will be allowed to handle such a task. We have thoroughly studied the documents of this broker and recommend to avoid this project. Real reviews about the company confirm that many clients were unable to withdraw their funds. We invite you to share your experience with this broker in the comments.
May I be scammed on fogarts.com?
Yes, there is a risk of scamming on this site. This company uses illegal methods of work, including falsification of information about the number of transactions and availability of licenses. Promises to customers of no commissions do not match the high rates of fees stated in the company's rules and regulations. Besides, there is a fresh domain and primitive interface design, which does not correspond to the status of the world leader in the Forex market indicated by the broker.
What's the best way to share my experience with Fogarts?
Fill out the form and we'll make sure your voice is heard.
How can I tell if fogarts.com is a fraudulent company?
Do your own research and never believe those who promise you easy money.