TANGO TRADING Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Our company often does business with Mexico, and one of my colleagues recommended the platform TANGO TRADING to me. I found that although it does not offer MT4 or MT5, their own platform is surprisingly easy to use and plays an important role in my trading process. All in all, I think this company is worth a try.
Tango Trading has garnered significant attention in the forex brokerage community, but much of it is negative. This broker has been flagged as unregulated and potentially fraudulent, with numerous sources labeling it a scam. Investors are advised to exercise extreme caution when considering this platform, particularly given its claims of regulation in dubious jurisdictions.
Note: The discrepancies in the information regarding Tango Trading's operations across different regions raise concerns about its legitimacy. Therefore, it is crucial to conduct thorough research and remain vigilant.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trustworthiness | 1 |
| User Experience | 2 |
We rate brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data.
Founded in 2022, Tango Trading claims to be an international online trading platform based in Saint Vincent and the Grenadines, but investigations reveal that it lacks any valid regulatory oversight. The broker operates without a recognized license, which raises significant concerns about the safety of investors' funds. Tango Trading does not offer popular trading platforms like MT4 or MT5, opting instead for a less-known web-based platform. The broker claims to provide access to various asset classes, including forex, CFDs, and cryptocurrencies, but the lack of transparency and user testimonials makes these claims questionable.
Tango Trading operates as an unregulated entity, with no oversight from reputable financial authorities. According to various sources, it falsely claims regulation in Saint Vincent and the Grenadines, a jurisdiction that does not license forex brokers. This lack of regulation poses a significant risk to traders, as there is no recourse for fund recovery or protection against fraud.
The broker accepts deposits primarily in cryptocurrencies, which is a common tactic among fraudulent platforms to evade accountability. The minimum deposit required to open an account is $250, which is relatively high compared to other brokers that offer accounts for as little as $5. Withdrawal requests may face delays and are often met with excessive fees or outright refusals.
Tango Trading advertises bonuses of up to 30% on initial deposits, but such offers typically come with stringent and often unrealistic trading volume requirements. These conditions are rarely disclosed upfront, leading to potential issues when attempting to withdraw funds.
While Tango Trading claims to offer a wide range of tradable assets, including forex pairs, stocks, indices, and cryptocurrencies, the absence of a functional trading platform raises doubts about the actual availability of these instruments. Many users have reported that they were unable to execute trades, rendering the advertised offerings moot.
Details about spreads, fees, and commissions are largely absent from Tango Trading's promotional materials. This lack of transparency is a significant red flag. Established brokers typically provide clear information regarding their pricing structures, while Tango Trading appears to obscure these details, potentially leading to hidden costs.
Information regarding leverage is also not disclosed, which is concerning for traders who rely on this feature to enhance their trading positions. Without access to a functional trading platform, it is impossible to ascertain what leverage options are available, if any.
Tango Trading does not support popular trading platforms like MT4 or MT5, which are industry standards. Instead, it offers a proprietary web-based platform that lacks many features traders expect, such as advanced charting tools and technical analysis capabilities.
Tango Trading does not accept clients from the United States, Canada, Japan, Turkey, and Belgium, which may indicate its attempts to avoid regulatory scrutiny in these jurisdictions. This limitation further complicates its credibility as a global trading platform.
Customer support is extremely limited, with no dedicated help desk available. Users have reported difficulties in reaching the support team, and many have experienced unresponsive communication channels. This lack of reliable support is a significant drawback for any broker.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The minimum deposit requirement of $250 is steep for a broker with such a poor reputation. The lack of account types and transparency about fees only adds to the negative experience.
Tools and Resources: The absence of a robust trading platform and educational resources limits traders' ability to make informed decisions.
Customer Service and Support: The lack of a dedicated support team and unresponsive communication channels severely impacts the overall user experience.
Trading Setup (Experience): Users report significant difficulties with the trading setup, including the inability to access a functional platform, which is a critical aspect of trading.
Trustworthiness: Given its unregulated status and numerous warnings from various sources, Tango Trading is deemed highly untrustworthy.
User Experience: Overall, the user experience is marred by the lack of transparency, poor customer service, and the inability to execute trades effectively.
In conclusion, the Tango Trading review paints a concerning picture of this broker. With a lack of regulation, transparency, and reliable customer support, potential investors are strongly advised to look elsewhere for their trading needs. The risks associated with engaging with an unregulated broker far outweigh any potential benefits.
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