Whenever the topic of online scams is mentioned, many people think of forex brokers and cryptocurrency scams. But you would be astonished by the number of people who lose money through the most legit-sounding investment platforms.
We always insist that the only way to protect yourself from a scam is to know how to spot the red flags.
If, by bad luck, you still get scammed or have been a victim of a scam, get a free consultation, and fight back for your money.
In this candid Eirgon review, we will open your eyes to the tactics that scammers use to hide their real intentions, which is to steal your money. We will show you the loopholes they use to scam unsuspecting investors and what you can do to avoid these traps.
Let’s get right into it.
Eirgon Review: What is Eirgon?
Eirgon is an investment platform that requires its users to invest their money for a fixed term and later get it back with profits.
We tried to get information about the company behind Eirgon, its registration, and possible regulation. But all we got is that it is owned by Eirgon S.R.O and based in Slovakia, Central Europe.
We could not get any information on its registration or regulation in the National Bank of Slovenia (NBS), which is the financial regulatory body of Slovakia.
There is no minimum limit to the amount you can invest. But as a first-time investor, we were offered a fixed term of six months at an interest rate of 4% per annum.
Eirgon’s Sketchy Website
One of the methods scammers use is ensuring that there is minimum information on the platform that can compromise their mission. They understand that experienced online investors know how to read between the lines. And to prevent this, they provide few details about the company.
The first thing that caught our attention about Eirgon, and not in a positive way, is their website. The homepage has grammatical errors such as spelling ‘term’ as ‘therm’ and ‘debtor’ as ‘debitor’.
Also, very limited information is provided. Each feature about the platform is followed by a one-liner that does not provide adequate details about what to expect.
The overall design of the website is shoddy. Very little effort was put in its creation, showing a lack of professionalism.
The same mistakes are on every other page of the website, and this should be enough to keep you from investing your hard-earned money on this platform.
The Flimsy Business Model Eirgon Uses
What Eirgon expects from its customers is to invest funds for a fixed period. And at the lapse of the set time, they get their investment plus interest back. You don’t hold an asset of any form.
Eirgon uses your money to make its investments, but you get no say in the type of investments or the level of risk. Eirgon gets to do whatever it wills with your money, at your expense.
If you make a withdrawal before the payout date, you lose all the interest earned.
We could conclude this Eirgon review at this point, but more red flags prove it is a scam.
A Major Red Flag: Eirgon’s Poor Customer Service
The only way to contact customer care is through a contact form. There is no email address or telephone number.
The lack of proper methods to contact customer service is a typical characteristic of scammers. It makes it impossible to quickly resolve problems that could make you lose money.
We thought that its FAQ page would offer the fast solutions that clients may need, but again, all we got was disappointment. Eirgon does not have an FAQ page.
We could confidently put the scam stamp on Eirgon, but there is more reason not to trust it.
The Safety Net Eirgon has Set Up
One mistake new and some experienced investors make is overlooking the Terms and Conditions page. Normally, this page is long, which is the reason most people don’t read it. And scammers, knowing this, hide important details in the long block of text and use complex legal language to discourage customers from reading it.
We could not get vital information like the number of days it takes to make a withdrawal on any other part of the website. But in the Terms of Service document, it is stated that Eirgon does not guarantee the amount of time it takes to process a transaction.
This means a withdrawal could take weeks or months. With the above disclaimer written on the website, investors do not have grounds for complaint against delayed withdrawals.
There is more.
Eirgon distances itself from any loss that can occur to an investor that results from the use of their services, even in cases where the loss results from negligence by Eirgon.
It also states that any liability charged to Eirgon cannot exceed the sum of fees paid within the three months immediately preceding the date the investor makes the claim giving rise to the liability.
If you have a problem understanding the Terms of Service, get a legal expert to go through it and spell it out in layman’s terms.
We did not find any reviews about Eirgon, neither positive nor negative. But the information gathered is sufficient to make a sound judgment about Eirgon.
Eirgon Review Verdict: A Scam or Genuine Investment Platform?
There is no doubt about it; this honest Eirgon review clearly shows why the platform cannot be trusted. From the lack of material information about the company to the third-rate website you are supposed to use to invest your hard-earned money, the list of red flags goes on and on.
Always study the Terms and Conditions page thoroughly before investing your money on any investment platform. Know the channels you can use to reclaim your money in case you lose it unfairly. And it’s always best to look at the experience of other customers from trusted review websites before making your decision to invest.
If you have lost your hard-earned money to Eirgon or any other online scam, we can help you recover it. Start by scheduling a free consultation with us.