How to recover money from a Forex scam

How to recover money from a Forex scam?

Although, forex trading is a profitable investment where you can get a huge amount of profit. However, this isn’t something easy to trade, and you need to make sure that you know everything about trading. Experienced traders that have the right experience in trading, find forex trading really easy and profitable. This is why some people prefer to invest with experienced traders or brokers to get certain profits subsequently.

Like every other online trading, Forex was not meant to be a scam, But also a form of investing money to make a profit. This was for people to invest but the involvement of the scammer made it risky. They are lots of scammers out waiting to steal from us, they come pretending to be legit, But all they want is to make us invest our cash so they can run off-putting us in a lot of debt.

Many people think that their bank is the sole bearer of responsibility for the security of their accounts, but bank agreements typically include a passage about the client’s responsibility to keep their financial information secure. The most precious bits of this information are PIN code, CVC code, and one-time passwords sent by SMS. You’re less likely to get a refund if any of those were used to confirm a fraudulent transaction unless you apply for chargeback; banks usually consider a compromise of them a user’s fault.

Before investing it is very important to:

1. Check on the person or company you are investing with, so you don’t end up losing. Do not fall for the too good to be true words they give, such as bonuses and all.
2. Let your broker earn your trust, make him prove to you his/her is legit cause action speaks louder than voice. Don’t just believe him/her based on what he/she gives or tells you.
3. Be skeptical of a broker that shows only when things go as planned not what happens when a trade is lost.

The less experienced traders can still have success if they are learning as much about trading as possible before they trade with real money. This is also the less experienced trader that is becoming a victim of scams and they are finding it hard to forex trading recover your funds after you were scammed.

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If you ever got scammed or lost funds to a forex broker or a forex investment company, the first thing you do is gather up all of your communications, receipts, and any documentary proof of anything. Also get all names, numbers, email addresses, websites, Instagram accounts, etc.

Then, how you paid the scammers will also determine what action to take.

If you paid by credit card, you’re in a good position to apply for a charge-back.

Paid through bank transfer, you can apply for a wire transfer recall.

If you paid through a payment app, you’ll have to check their terms and conditions.

If you paid with cryptocurrency (Bitcoin, Ether, etc.), you can trace the transaction, but recovery is really hard so you might have to consult the right authorities.

Now you have to decide if you want to do it yourself or hire someone. If you do a charge-back or wire transfer recall, you can do it yourself, but the success rate is not very high. For a payment app, I’m not sure, and with crypto, you can do a basic trace by yourself for free online and file a police report on your own.

Here, you have to do a very high level of due diligence. If you were scammed, you probably did very little to no due diligence, so here YOU MUST DO TONS OF RESEARCH.

• Read as much as you can about fund recovery companies.

• Do searches on company names, and investigate the information on their websites – addresses, phone numbers, location, etc.
• Go to review sites and scam watchdog sites.
• Read the info on the websites and see how good their grammar is on every single page
• Read their Terms and Conditions pages and look for any funny info.