TapFin has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Lagrand Group. We’ve received over 6 complaints against TapFin.
TapFin has received many warnings from financial regulators regarding its validity and lack of necessary authorization. The site has been criticized of being hazardous, possibly fraudulent, and lacking transparency. Complaints include inadequate customer service, late payments, and aggressive sales practices. Consumers should use extra caution while dealing with TapFin.
If you’ve lost money or have had a bad experience with TapFin, you can work with an investigative agency. They can provide you with the help you need:
Key Takeaways
Is TapFin Regulated? Do They Have a License?
Financial regulators have issued many warnings about TapFin, raising severe doubt on its authenticity and regulatory position. These warnings indicate that the platform may not be legally regulated or permitted to provide financial services in certain jurisdictions, which is a serious problem for consumers who may not have legal recourse in the event of a dispute or fraud.
A key concern raised is the security of investor monies on the platform. According to one source, investor funds on TapFin are judged hazardous, with the worrying statement: “Investors’ funds in this broker are unsafe and cannot be protected by any law.” This shows that the platform lacks adequate safeguards and protections for user assets, raising the possibility that cash will be lost without recourse.
Furthermore, TapFin claims to be registered in the United Kingdom, however this is strongly contested. The absence of clear and verified registration information is a major red flag for any financial services company. Proper license and registration are critical for ensuring that a company operates within the legal framework of its jurisdiction, and TapFin’s inability to give this information raises questions about its operations.
Furthermore, TapFin has been identified as a possible scam by a number of credible publications. One review states unequivocally that “TapFin is a scam,” while another gives the website a “medium-low trusting rank,” warning consumers to take cautious. These scam charges, combined with a lack of continuous reliability, raise more worries about the platform’s authenticity.
The lack of regulation or the presence of poor regulation is a huge red flag. It means TapFin 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 TapFin, 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 TapFin
There are also discrepancies in the reviews about TapFin. While some users praise its features and trading possibilities, others express concerns about its validity and safety. This inconsistency is troublesome because authentic and trustworthy platforms often receive more consistent and positive feedback.
TapFin’s lack of transparency on its operations, licensing, and safety procedures shows that company is not open about its methods. Given the difficulties surrounding TapFin, potential users should proceed with utmost caution when trading or investing. To avoid potential losses, conduct thorough study and engage with government financial regulators.
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.
Victims can get help from a specialized investigation agency that can look into the scam for them. Contact our recommended agency here.
TapFin 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.
TapFin 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 TapFin 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 TapFin 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 TapFin, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like TapFin enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “TapFin reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising TapFin.
You should always look out for consumer complaints. In the case of TapFin, 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 TapFin? You can share your complaint in the comment section or submit an anonymous tip.
Is TapFin Legit Or a Scam?
TapFin 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 TapFin 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 TapFin?
All the evidence suggests that TapFin might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
If you’ve experience in dealing with this company or a similar one, we recommend working with a trusted investigative agency. That way, you can get professional help and resources.
Frequently Asked Questions
Is TapFin a scam?
TapFin scammed me. What do I do now?
Where is TapFin Located?
Are there any TapFin complaints?
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. 
