Against the background of traditional assets profitable for investment, the attention of investors is attracted by cryptocurrencies, rapidly growing in value. This is the main reason for those wishing to expand their opportunities on the platforms of financial markets and increase their income. However, on the other hand, apart from traders, this topic has attracted the attention of internet scammers. Financial swindlers focused on the ignorance, lack of proper experience of the general public who wanted to become investors. As a result, within the previous couple of years a great number of fraudulent projects appeared in the network, acting under the mask of reliable brokers offering services of exchange intermediaries.
In reality there are no real brokerage services on such sites – skilled swindlers only deceive people by means of bright and promising advertisements. It happens that sites of some fake brokers are so qualitative, and conditions are so plausible, that even experienced investors are caught in the net. But it is rather an exception to the rule. The vast majority of these project sites are cheap and of low quality. In fact, in addition to the real trading platform, traders deposit their capital on a fake site: swindlers provide fake statistics and tweak the program so that their clients’ money by any means ends up in their pockets.
A project called Voytegon, located online at voytegon.com, is a prime example of the implementation of such fraudulent ideas. As soon as the user’s personal information, which he voluntarily shares when registering on such a site, gets into the fraudsters’ database, the experienced scammers will immediately start working with him as a potential investor. They will convince him that they are always there for him, they will help him and will deal with complicated aspects of investing that the trader does not understand. All this bribes inexperienced traders, however, it should be known that clients of projects like Voytegon never get a real profit and the invested money can be immediately kissed goodbye.
Confirmation of these assertions is the first acquaintance with the Voytegon website.
The main page is an advertisement that is not supported by facts. The terms and conditions are filled with clauses that are attractive only in appearance, but make the attempt to withdraw funds from the client account impossible. This refers to the high requirements for the minimum volume of trades, high commissions, which are often hidden, up to 20% or even higher of the amount. Projects like Voytegon even have weak trading software and fake trades, the presence of wide spreads and extreme leverage.
Providing fake contacts – addresses, phone numbers, lack of licenses and feedback as soon as the client decides to apply for withdrawal.
Voytegon is absolutely not a reliable partner in exchange operations and definitely not a legitimate broker. Our detailed review will explain in detail why you should avoid cooperation with this company and why it can be called a threat to traders’ capital.
Types of trading accounts offered by Voytegon
There are a total of seven pricing plans offered on the Voytegon website.
However, in fact, traders who have decided to cooperate with Voytegon may choose from eight types of plans. There are seven types of trading accounts – Bronze, Silver, Gold, Platinum, Diamond, Premium and Vip.
And also the option of the Islamic account without swaps.
There are enough red flags in this section. Of course this section is not very informative. If it is dedicated to the types of trading accounts, why is there no specific data here, such as the amount of leverage, information about swaps. It only says that there is a “regular” spread for the Islamic account. For example, the currency pair EUR / USD trading platform shows a spread of 0.7 points, which in theory could be called a very competitive level. However, this is not the reason why real trading is available with Voytegon.
And of course, it is the size of the minimum deposit. The lowest entry fee for the Voytegon trading platform is €10,000. The platform has a wide range of minimum deposits between trading account types – €25,000, €50,000, €100,000, €250,000, €500,000, €100,000,000.
If we compare it with many legal brokers, the minimum deposits of their plans do not exceed €100 or US dollars.
Information about leverage can be found in a special section, which is listed in the Top of the site. Voytegon offers leverage up to 1:200.
Such figure indicates the high risks for the trader, because in addition to the possibility of obtaining a larger profit, it increases the risk of instant and large losses
For example, regulated brokers work with lower values, mainly up to 1:50 because for retail traders all leading regulators limit leverage.
Voytegon Trading conditions
If you believe the Voytegon website, there are plenty of benefits for traders.
The creators of Voytegon mention various promotions, bonuses and loyalty programs. However, experienced traders know that every leading financial regulator forbids brokers to use such practices.
The Terms and Conditions section states the existence of commissions and service fees, which are charged by the broker for working on the trading platform, namely, for withdrawals or deposits, trading or other inquiries.
The problem is that the website does not show specific amounts or detailed conditions on fees and commissions.
Information about the conditions strongly suggests that Voytegon is an illegal forex broker, although it tries to assure users of the opposite.
The main message that the creators of Voytegon are trying to convey on their main page – the opportunity to join a reliable, modern trading platform, namely – choose from two of the two most popular solutions in the industry – MetaTrader 4 and MT5.
However, only registered users find out that Voytegon does not provide the industry standard version of MetaTrader – clients see a dubious analogue of the popular web platform with a limited range of options, basic options are not enough, and the advanced features of MT4 and MT5 are definitely not enough.
Deposits and withdrawals are available through credit/debit cards Visa and MasterCard, bank transfers.
The problem is that there is no choice of payment method in the funds depositing menu. The program requires you to enter your address and zip code. It is likely that the people who run Voytegon change their account deposit details every time.
For example, legal brokers have a wide range of transparent payment methods for their clients.
It is known that any additional deposit should not be less than €250.
All above mentioned is the typical practice of financial scammers in the sphere of online trading.
In contrast to the sites of legitimate brokers, the homepage of the Voytegon website has no detailed information about the company, its owners or managers, no indication of its legal status and no reference to the regulators monitoring its activity.
There are only two phone numbers, an email address and a contact form in the contacts section.
There is also no other information in the About section or in the footer.
A broker that doesn’t mention registration documents most likely doesn’t have a license.
The phone numbers indicate the UK phone code, which is also used by some British offshore zones. This is most likely our case. In any case, let’s give Voytegon a chance to clear its name and ask the appropriate regulator for information about the licensing of the Voytegon project.
This project was not licensed in the UK. So this is a typical scammer. The website of Voytegon does not even have the name or address of the legal entity.
Since we do not know when the company began operating, using the resource checks domain names WhoIs see when was registered their main site – the site.
It turns out that the project is less than a year old, the registration is dated June 21, 2021.
Not only is voytegon.com and the Voytegon project it’s based on undocumented, they’re trying to warn users against meeting many fraudsters. It’s a typical reverse psychology trick designed to get Voytegon out of the zone of suspicion. It’s a technique that scammers love to use.
Moreover, the Voytegon site bears a striking resemblance to the online scammers TradeBaionics and Oriontero.
It’s possible that many more sites have been created using the same pattern.
Voytegon Reviews online
In almost half a year there are too few reviews about Voytegon broker online. In general, they are ordered articles with praise that are easy to distinguish from reviews written by real users.
However, we have managed to find real reviews that fully correspond to the facts we found out in the process of preparing this detailed review.
The broker does not inspire confidence and tries to look better than it really is.
Safety and security of funds with Voytegon
Traders’ capitals are in great danger when they get to know Voytegon. It is impossible to keep the deposited sums and even more to make money with an unregulated broker.
Voytegon is a fake project and has absolutely nothing to do with real online brokers. The information given on the website of Voytegon should not be trusted at all. Like most scammers, they are prone to threats when traders start demanding their money.
Scammers easily cheat traders with no experience, so don’t give them a chance to steal your capital. For the sake of capital preservation, it is better not to get involved with Voytegon, which operates without licenses and hides its addresses.