How to recover money from a Forex scam

How to recover money from a Forex scam

How to recover money from a Forex scam
Trading Forex online.

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.

  • 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.

6 thoughts on “How to recover money from a Forex scam

  1. Hello I would like to know if the platiniumfx company is regulated as i would like to get my money back from them. I was ripped of my investment early 2019 and till date no response from back.

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  3. If you’ve ever been scammed by a Bitcoin scammer, you know how frustrating it can be to get your money back. I was once scammed for double the amount of Bitcoin I had sent to my scammer, and I was forced to go through a lengthy process of submitting all of my transaction details to a professional chargeback specialist, who then tracked down the money and did what they do best: chargeback.

    The whole thing took five business days and cost me about 15% in fees. But at least now I know that I can trust this company with my money again in the future!

  4. Bitcoin scam is a problem that many people are facing these days. A couple of months ago, I was looking for a new wallet and I found a very promising wallet that supports NFT, multichain swap and staking farms. I downloaded it, installed it and everything seemed to be fine. Then after a few days, I noticed that my bitcoins were missing! I knew right away that it was a scam because there were no transaction histories or any evidence that could help me get back my money.

    So how did I get my money back? Well, After feeling depressed for days, I decided to take action by hiring a professional chargeback specialist called y3llowl4bs who specializes in Bitcoin recovery services. They tracked down my bitcoins using blockchain technology and were able to recover them from the scammer within 5 business days as agreed.

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