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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.

Trading Conditions

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:

  1. Student from €250 – Minimum trade size 0.01, Spread 3, Consultation once a week, 1 training session “How to use trading indicators”.
  2. Standard from €5,000 – Minimum trade size 0.1, Spread 2, Consultation 2 times a week, 3 trainings on “How to use trading indicators”.
  3. Islamic from €10,000 – Minimum trade size 0.5, Spread 3, No hidden interest, commissions, or penalties.
  4. Investor from €100,000 – Minimum trade size 0.5, Spread 1.7, Dealer Mode, two weeks of “How to use trading indicators” training.
  5. Fogarts VIP from €500,000 – Minimum trade size 1, Spread 1.7, PAMM account, Dealer Mode, Consultations 4 times a week, Personalized trading strategies.
  6. 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 may deny you access to its services at any time and is not liable for any losses you may incur due to technical failures. The broker may block your account permanently without prior notice or explanation.

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

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 is a fraudulent company?

Do your own research and never believe those who promise you easy money.


Jurisdiction: No
License: No license
Leverage: 1:5
Broker type: DD
Demo account: No
Affiliate program: Referral
Minimum deposit: 275$
Trading platform: WebTrader
Assets: Forex, CFD

11 reviews about Fogarts

  1. Traff
    November 22
    This is a fake site
    This is a scam in its purest form: the broker has no registration, no traders, no reputation - this is a classic scam. As for reviews, the company claims that it has a rating of 4.7 out of 5 on the authoritative Trustpilot platform based on 1651 reviews, but in fact there are only 4 reviews!!! and all of them are for October 2023, I read all 4 and saw that they are written in the style of advertising, which is in the release of services on the site..... Not a single review contains confirmation of any transaction and there is not even a description of the real story. On Italian sites I found 2 more reviews in a similar style, and on English sites I didn't see any reviews, there were only articles with a warning that this broker is a scam. Everything here is very cheap and fake, just look at the site and its performance, you can see that it probably costs 30 euros😀 But seriously, it is very disturbing the activity of these kind of companies, because if they open, it means that someone invests time, money, and effort in them, and they do not just grow on the forex market like grass in our forest. Some traders come to this scam and try to trade there, and this someone is probably a young inexperienced guy or girl who does not even know the Trustpilot resource, and for them this scam will be the first "broker", to which they will not have a critical attitude, and they will lose there, perhaps, their last money, and perhaps even borrowed money. As a result, scammers multiply, and those who should keep an eye on them - sleep. A very sad situation.
  2. Kripple
    November 22
    Swindlers and scammers!
    I sent a withdrawal request 3 weeks ago, but the broker did not return me anything. I lost about 8 thousand euros. No one answers my email inquiries, and the operators just disappeared, it would be better even if they answered rudely, but there is nothing and I think that fraudsters just don't serve clients anymore. I checked the work of my personal cabinet and it functions on my phone, everything is fine there, but there is no money. Another scam. I'm just disgusted to realize that I was scammed...If you don't want problems - don't contact this scam!!!
  3. nyrk
    November 18
    The service is just terrible!!! In terms of withdrawal!
    I have an application for withdrawal of $28,000 hanging. My order is considered for a month! Support answers: wait a few more business days!!! And I do not hear anything else. A few weeks have passed and the fogarts robot is still emailing me! I have provided all the necessary documents! Support is just stalling and that's it, it's been a MONTH already!
    I am very disappointed with the broker.
  4. anopino
    November 10
    This broker may well leave you without money
    I was surprised to see that when depositing money into the account the client is charged a commission for the right to use the site (I do not remember where else I met such a thing). The functionality of the trading terminal is quite good, but the extremely slow execution of orders clearly does not inspire much confidence, I suspect that there is a certain fraud (this happens with amounts over 500 dollars, as a rule). Withdrawal of money from the account is the last quest, the money will have to wait 5-6 days in the best case, in the worst case will have to wait 7-10 days. The withdrawal fee is high - 3.5 percent. I do not recommend it
  5. Aga
    October 21
    Especially cynical scam
    Yes, you will meet such brazen scammers not often at all. Of course, I was looking for a reliable, reputable, proven broker. According to reviews, fogarts was the optimal solution - excellent conditions for newcomers, and it is also quite suitable for inexperienced traders, although I was not quite a beginner at the time of account registration (one year of trading experience). I have registered and worked on many brokerage sites and decided to try fogarts. I got a call from my acquaintance, their partner, he left the phone number of the manager, and offered to invest in this service, I decided that this is an interest in clients, not in their money. But as it turned out, this company is an ordinary scam, 90% of transactions ended with my losses for a variety of reasons (from the side of the broker), obviously I was deliberately led to such a result. I lost about 2 thousand euros in a month and I will never come here again.
  6. star
    October 20
    Horrible firm, tech support is terrible
    Broker blocked my account for no reason, with money on deposit of $784 and the administration ignores my requests for 2 months. The company fogarts I do not advise anyone, if you do not want to lose money as I did :(
  7. oldtime
    October 20
    I would not recommend this terminal to anyone
    The platform reminds me of some fraudulent scheme, the broker takes a very long time to connect you with a financial analyst, and when it does, it is of little use. Several times I traded on fogarts and almost always lost money. By the way, the profit was 2 times about 100 euros, but the funds are withdrawn terribly long, first you need to deal with tech support for a long time, that is, to fight for your own honestly earned money. Also the commission for the withdrawal of funds is just huge - as much as 60% turns out! I was charged €30 for withdrawing 50 euros!!!
  8. FastStart
    October 15
    It is possible that you are an incompetent trader
    Friends, the broker does not affect your decisions in any way. Whether to buy or sell something, whether to take leverage for a big game - it's all purely your decision. What attracted me to fogarts is that it doesn't bore me with promotional offers. As a sales manager (in the past) I understand people very well when they are annoyed by excessive advertising :) If the broker is planning any changes, there is a newsletter to notify clients. Or you can look for information and news on the website or contact your manager directly. The personal cabinet is simple and clear on this site. It is convenient for me to watch analytics. I do not have any problems with reporting. And in order for your account to be "not drained", you do not need to trade without training, and you need to constantly learn, watch the content of bloggers, and study those articles published by the broker. You think you are the smartest and do not listen to the advice of experienced traders, and then the broker is to blame for all your losses. Sometimes I find it interesting to read such reviews when people complain that they lost something on fogarts...In general, nowadays all brokers are almost the same in terms of commissions and trading conditions. Cooperation with a particular one is conditioned most likely by various trifles that a specific brokerage firm has. But on the other hand, I didn't find anything interesting in Fogart's service.
  9. radon
    October 8
    The rates here are reasonable
    One of the biggest advantages of this broker was the ease of use. It didn't take me much time or effort to get started with their platform, and I found it really intuitive. I also liked that their rates are pretty reasonable. They don't charge for things like the first transaction or making a deposit, so it's nice to not have to worry about those costs when I'm trying to save money on my trades.
  10. inik
    October 6
    I fell for a bogus offer
    I deposited €450 and the broker drained it in 2 weeks. I found out from my experience that the company's commissions are huge, the site is inconvenient, technical support doesn't work, and trades don't close the first time. For beginners, they offer an assistant who doesn't help but only persuades them to deposit more money into the account. Fogarts is not a broker, but a false broker. Cooperating with it is bad for your wallet.
  11. Bala
    October 2
    Is this really a scam?
    I am in Italy, on my PC does not work, the provider writes that it is a malicious site and I will get viruses, it is impossible for me to log in to my account, the terminal does not work :(

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