Voytegon forex broker that deceives traders, sells their data and drives them into a negative balance
By The Forex Review - 11 / February / 22 789
Dominick Bell
Broker Voytegon, operating in the UK, is a scammer with a bad reputation.
When we go to the official website of Voytegon - Voytegon.com, we will read that the company under study provides brokerage services for working on the Forex financial market in Britain. In addition, Voytegon provides programs for trading activities.
Our employees explored the Voytegon website, got acquainted with the working conditions, tried to get demo access to the software, studied the existence of official documents, the place of registration of the company.
With the help of the information received, we will find out: Voytegon - a divorce or not?
In addition, we will tell you how not to get caught in the networks of scammers, about their methods of operations. We will give you all the information you need to keep your finances safe.
Voytegon is located in an offshore country
The first call indicating that Voytegon are criminals is the registration region. According to the documents, the organization is registered in the Marshall Islands, which is already suspicious, since Voytegon.com operates in the UK. Offshore regions are popular with scammers due to the lack of laws and controls.
Moreover, this region does not have the rights to work on Forex.
Also, when our experts tried to find the real address, information about the owners and management of Voytegon.com, they could not find anything.
This already indicates that Voytegon.com is a shadow broker, cooperation with which can result in significant financial losses.
Could not find information about the owners of Voytegon.com
After analyzing the site, our experts could not find reliable data about the organizers of the Voytegon company. No physical or legal address, no phone numbers or other methods to get in touch.
Basically, this means that acting directors are trying to hide information about themselves in order to evade accountability for actions. And even if one of the Voytegon employees can be caught, this will all end, and the actual directors of the criminal firm will remain at large.
Voytegon official website - Voytegon is less than 30 days old
The official website Voytegon.com talks about many years of experience in Forex.
The main way to study any web site is to obtain information about the domain. Most often, they fix the period of existence of the domain, the contact information of the owner.
In our case, the Voytegon domain name exists for less than thirty days, and all information about the legal entity or individual that owns it is hidden. Another proof that Voytegon management is trying to preserve anonymity.
This desire can be accepted, but not when it comes to a financial company working as an intermediary between a client and the Forex financial market.
At the same time, Voytegon.com themselves assure users that they have been trading effectively on Forex for many years.
Voytegon does not have a trial period
It is a common practice for online brokers to give clients a test version of their software so that they can familiarize themselves with the interface, try out their skills in Forex operations with fake money.
Unfortunately, on the official website of Voytegon, we could not find data on the demo period, the opportunity to try out the software.
Most likely, the owners of the Voytegon organization are simply not going to provide users with demo access to their software, since someone is able to begin to suspect something is amiss.
Broker Voytegon operates with a negative balance
Official firms that operate in the Forex market do not use a negative balance in their work. By law, the user of an Internet broker is not able to spend more than what is currently on the balance sheet. In cases where the account goes into a negative value, the loan must be repaid not by the trader, but by the company that provided its services.
Therefore, registered brokers do not use a negative account in their work.
Nevertheless, Voytegon offers its customers work with a negative account, that is, on credit.
Why is this needed?
In order to drive the client into a minus and pay off the debt from him. This is one of the most common methods of deception used by financial bandits.
In the event that this has already happened, you need to know that deceivers do not have the opportunity to receive finance under British law. Any methods of pressure on users are considered illegal. The most that criminals are capable of is calling, sending messages with demands.
You cannot cooperate with Voytegon, as any agreements will turn into new losses.
Voytegon operate with a leverage of 1 to 400 or more
At this point, it's clear that Voytegon are scammers. However, let's point out one more fact, namely the presence of too high leverage.
Leverage is the ratio of funds of clients and online brokers when making a transaction. This allows large transactions to be carried out by users who do not have access to large amounts.
In order to protect Forex clients, in developed countries, the current legislation requires the use of leverage with a maximum ratio of 1 to 30, sometimes 50.
At the same time, Voytegon uses a leverage of one to 400 for Forex operations.
A similar ratio is legalized in Switzerland, since organizations registered in this state enjoy considerable confidence. But Voytegon is not issued in this state.
In fact, Voytegon is not authorized to trade in the Forex financial market with such a credit ratio, due to the high risk to clients. So, this is used only to force the client to give more funds, but also to drive him into loans.
Local branches of Voytegon
It is considered solid for any financial company to have local branches in civilized countries, even if the activity is carried out only in Britain. So Voytegon informs that in addition to many awards, they have local divisions in Britain, Australia and other developed countries, and also about a lot of qualified specialists.
It is easy to check the existence of these subdivisions. After all, there are specialized organizations that regulate the work of online brokers. In England, this is FCA, and for example, Australia - ASIC.
Because of this, the official company is required to have official papers from these or other organizations that will confirm their authorized right to provide trading services in the Forex financial market, indicate the degree of responsibility.
However, after examining specialized websites, our experts could not find them. Which once again confirms the fears.
For registration on Voytegon.com, you must transfer personal data
As we reported earlier, Voytegon does not have a trial period and, accordingly, in order to gain access, you must immediately transfer the minimum deposit to Voytegon scammers. In addition, it is possible to create a Voytegon.com personal account only after passing identity verification.
This means that Voytegon requires its users to submit data such as:
- Information about an individual;
- Information about the permanent place of residence (scans of utility bills);
- Information about qualifications, place of work, length of service.
Also, during the first transfer, fraudsters are able to access personal account data.
As a result, this information may enable scammers to make a loan to a deceived user, or to carry out other illegal operations.
Since registration on the official website of Voytegon.com requires sending confidential data, we did not get access to the Voytegon personal account or the software for working on the Forex market.
Real reviews about Voytegon
An extremely important step in exposing Voytegon is the study of feedback from traders.
The analysis of the search results allowed us to obtain the following data:
- Most of the Voytegon reviews on the internet are fake. These are the same type of positive reviews and comments of a paid nature;
- All real reviews and comments about Voytegon are negative. Our specialists were not able to identify reviews from former users of Voytegon.com, which would mention a serious profit, effective trading.
- Negative reviews and comments are related to illegal activities, stealing finances, creating debt.
Therefore, real reviews of Voytegon report that the broker in question is a scammer.
Voytegon contact details and white papers
Analyzing the data on Voytegon.com, our experts have found a lot of dubious digital official papers that can be easily done with the help of a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If an Internet broker is not associated with regulatory organizations, then its users simply have nowhere to turn for help.
On the "Contacts" page, we saw a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the web about fraudulent activities associated with the phone number listed on Voytegon.com.
Withdrawing money from Voytegon.com
Are you going to make money with the help of a Forex broker? Make sure you can take money from him.
After analyzing the trading agreement on the official website of Voytegon, our specialists did not find any information available on how to withdraw funds. Our experts also identified a description of the fees for account inactivity, but there was no data on the size. Since criminals do not act in the official field, it will not be possible to cancel these fines.
Because of this, if a trader stops working with Voytegon, they can start calling and sending messages demanding payment of a fine.
How does Voytegon operate?
Arouses suspicions and the method of searching for new users, which uses Voytegon.
Fake social media profiles are used for advertising, in which fake bloggers report how they instantly managed to make a profit working on the Forex financial market with the help of Voytegon. Fakes expose expensive cars and jewelry, trips to resorts and other indicators of a prosperous life.
Non-existent people promise a rapid income for which you do not need to study or make a lot of effort.
If a potential trader gets in touch with the criminals, Voytegon employees confirm the possibility of a quick profit, and in addition about some unique features of their programs that allow you to immediately earn a serious profit.
After that, various tricks are used to get the maximum amount of investment from the user. For example, a client can arrange a fake profit in order to provoke him to give even more money.
If work on Forex turns out to be unprofitable, a company representative will offer to transfer more in order to compensate for the losses.
Voytegon managers work according to guidelines that have been developed by experienced deceivers. Fraudsters study user data in order to act on weak points and get more deposits.
One way or another, all this will come to one of two options:
- When you are about to withdraw investments before you find yourself in the red, you will be charged fees, forbidden to use the money invested, and will do everything to force you to pay more;
- If you allow bandits to drive the balance into debt, there will be threats, criminals will extort to repay the fictitious loan.
Another way to make a profit for Voytegon can be the sale of your personal data to third-party organizations. Probably, as a result, comprehensive information about you can be purchased for a moderate amount of money on some anonymous Telegram channel on the shadow Internet.
It is likely that because of this, all sorts of bandits, sellers, etc. will begin to write to you more often. It is also worth waiting for calls from Voytegon colleagues who will offer a “return” of lost investments, of course, for a reward.
Since Voytegon does not operate in the legal field and preserves anonymity, they cannot be forced to answer under the law in England. The organizers of the shadow firm are diligently hiding and in the best case, the legitimate authorities will be able to figure out one of the "managers".
Should you trust Voytegon?
It is forbidden!
Only if you are going to give the bandits money, then it is better to transfer them to a good deed.
Let us briefly list the evidence indicating that Voytegon are swindlers:
- No official registration;
- No demo period;
- No information about the owners of the company;
- The phone number is seen in illegal transactions;
- Negative score;
- Leverage greater than one to 50;
- Negative reviews;
- False information on the website.
Our Voytegon review is over. It is clear that Voytegon are criminals.
For your safety, we have compiled a blacklist of brokers.
