Tango Trading Review – Can The tangotrading.co Broker Steal Your Funds?

Is Tango Trading a Scam Broker?

Tango Trading claims it is based in Mexico, but is guided by New York State laws. This is quite strange, as the broker also stated that the brokerage is not regulated in the US. They seem to be primarily targeting clients from Central or South America.

Tango Trading claims to be licensed in St. Vincent and Grenadines. This is clear evidence that we are dealing fraudulently with a broker. No forex trading company can be regulated in this country. St. Vincent and the Grenadines’ local financial authority does not regulate forex traders and does not enforce any forex trading laws. Local brokers are free to answer no one and are not required to fulfill any basic requirements to prove their financial stability and reliability. This is why most brokers in this country are scammers, unless they are part of an international company. We also could not find the English version of the site.

Instead, we recommend that you use a licensed broker in the UK or EU. These brokers must follow many procedures and be fair to clients. These brokers must:

• To prove financial stability, they must maintain an operational capital of at least EUR730 000. However, this number can be much higher.
• Participate in compensation programs that protect clients. If your broker goes bankrupt you can claim up to PS85 000 in UK and EUR20 000 in EU.
• Keep client money in separate accounts so that brokers cannot use them for their own financial operations.
• Regularly report to authorities.
• Protect Negative Balance.

A regulated broker can make trading safer and more transparent than if you trade with an unregulated broker. Don’t let scammers steal your money.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Tango Trading Trading Assets

Tango Trading does not provide a trading platform. We are unable to verify that they offer access to all types of trading assets and financial markets. You would not have the opportunity to trade if you open an account with Tango Trading.

Tango Trading: Maximum Leverage, Deposit and Withdrawal

Tango Trading didn’t provide us access to a trading platform so we can’t say what kind of leverage they offer or if it is relevant. We are referring to the fact that leverage is only relevant if the broker provides access to the financial markets . This is not the case in this instance. Tango Trading did not mention the subject, so we can’t say more.

Always trade only with the amount of leverage that you are comfortable using.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – RightFX, Foxane, AzaForex.

Since the broker wouldn’t allow us to do anything in their client section, we were not allowed to deposit with Tango Trading. On their website, however, they do mention two possible payment options – the less-known Columbian electronic payment system Cobru and FairPay or MoonPay, which are both crypto exchanges. This means that the broker prefers cryptocurrency payments, which is not surprising.

Scammers often urge clients to invest in crypto. These transactions are anonymous and irreversible, which is why they are so popular with scammers. This is because you won’t be able trace or chargeback your payment, which is precisely what scammers are after. This payment option should only be used if you’re 100% certain you can trust the person you are depositing with.

Tango Trading requires a $250 minimum deposit to open a basic trading account. While this is acceptable, it would be too high for most brokers. Many brokerages are offering accounts starting at $100.

Tango Trading: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Tango Trading. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Tango Trading!