Agoolim has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Capital IM Limited. We’ve received over 6 complaints against Agoolim.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Agoolim Regulated? Do They Have a License?
Unfortunately, the world of online trading and forex brokering is full of scammers, and Agoolim is a prime example. This essay goes into Agoolim’s fraudulent practices, demonstrating the importance of conducting rigorous research and fact-checking before investing with any broker.
Agoolim promotes itself as a professional forex broker, but it uses a variety of deceptive strategies to trick potential investors into thinking it is a licensed and regulated financial services provider. By closely researching Agoolim, we can acquire useful insights about how to recognize and avoid similar scams.
One of the most important features of any financial services provider is their regulatory status. Legitimate brokers are open about their operations, including the corporation behind them, their base of operations, the jurisdictions in which they are permitted, and the regulatory organizations that regulate their activities.
Agoolim claims to be headquartered in Cyprus and licensed by the Cyprus Securities and Exchange Commission. Furthermore, it claims to have authorization from financial authorities in the United Kingdom, Australia, and Dubai. A big red flag is the lack of a firm name associated with these stated licenses on their website. Even more problematic is the Client Agreement’s designation of Vanuatu—a well-known offshore state—as the appropriate jurisdiction.
When consumers click on the “Licenses” page, they are routed to websites that look like authentic authorities and display licenses in the name of Agoolim Ltd. These bogus websites are designed to appear official and even redirect viewers to real regulatory domains, giving the impression of credibility. However, direct inquiries in the actual regulators’ databases demonstrate that no such licensed company exists by the name Agoolim.
Agoolim’s principal website language is Russian, prompting a review by Russian financial authorities. This search turned up a warning for investors, showing that Agoolim is not a regulated financial services company.
Investing through a broker registered by the Australian Securities and Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), or an EU regulator such as CySEC has numerous advantages. This includes:
- Negative Balance Protection: Helps clients from losing more than their account balance.
- Guarantee Schemes: In the case of broker insolvency, these schemes provide up to €20,000 in the EU and £85,000 in the United Kingdom.
- Segregated Accounts: Ensures that customer monies are kept separate from the broker’s operating funds.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Agoolim might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Agoolim, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Agoolim
Agoolim has a simple web-based trading interface, which is popular among fraudulent brokers. Such platforms frequently employ rigged software to generate the illusion of investment and return. In contrast, authorized brokers provide strong trading software such as MetaTrader 4 (MT4) and MetaTrader 5, which are noted for their numerous features, customization options, and support for automated trading.
Minimum deposit requirements
Agoolim’s minimum deposit is $150, in line with industry standards. However, this sum could be utilized to start an account with a reputable, licensed broker that provides Micro and Cent accounts for inexperienced investors.
Agoolim only takes bitcoin deposits, which is a common characteristic of frauds due to the anonymity and irreversibility of these transactions. Legitimate brokers, on the other hand, offer a wide range of transparent payment options, including bank transfers, credit/debit cards, and well-known e-wallets such as PayPal, Skrill, and Neteller.
Agoolim claims to provide CFDs on a variety of assets, but there is no reason to believe these trades are credible. The software offers spreads that indicate additional commissions, but it does not provide detailed information on trading expenses.
Agoolim promotes leverage of up to 1:500, which is much higher than the limitations allowed in the jurisdictions where it claims to be licensed. Regulated brokers in the EU, UK, Australia, and Dubai typically limit retail customer leverage to 1:30.
While Agoolim does not define withdrawal terms, scams of this sort frequently include hidden fees and conditions that make it difficult to withdraw money. These traps are typically tied to bonus offers from the broker.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
Agoolim Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Agoolim Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Agoolim might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Agoolim reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Agoolim, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Agoolim enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Agoolim reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Agoolim.
You should always look out for consumer complaints. In the case of Agoolim, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Agoolim? You can share your complaint in the comment section or submit an anonymous tip.
Is Agoolim Legit Or a Scam?
Agoolim is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Agoolim can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Agoolim?
Anyone considering investing in financial instruments should thoroughly research the broker’s regulatory standing. Ensure that the broker is authorized and monitored by a respectable regulatory body. Avoid brokers like Agoolim who make fraudulent claims and operate without the necessary licensing.
- False assertions about regulation.
- Fake regulatory licenses.
- Financial authorities have blacklisted me.
- Only takes cryptocurrency payments.
- High-risk leverage ratios.
All the evidence suggests that Agoolim might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
