Forex Trading Scam
Forex trading can be fast-paced and exciting. However, the dark side of forex trading is that forex is a highly volatile asset. It often takes time before novice forex traders can make money trading currency pairs.
However, you wouldn’t know that when you read the websites, social media pages, and promotional materials many unregistered brokers display. Many promise triple-digit returns in just 24 to 48 hours. These brokers want forex to sound easy so they can attract as many customers as possible, even those who otherwise would not have considered forex trading.
So how do you know that a broker is a forex trading scam? What do you do if you have lost money to one of these fraudulent brokers?
Signs of a Forex Trading Scam
The following are signs of a forex trading scam
- Unregulated broker
- Exaggerated promises or guaranteed returns
- Lack of information about the brokers
- No contact information
- Lack of available terms and conditions
- Demands that accounts are funded by cryptocurrency only
- Negative reviews, flagged by a regulator
- Stops communication and disappears
By the time the broker has cut off communication, disappeared, or closed the account, the victim may already realize that they have been the target of a forex scam broker. However, if the broker is no longer reachable, it can be difficult to track them down. This is where seeking assistance from CryptoScamBrokers is helpful.
How to Avoid Getting Cheated by a Forex Trading Scam
One of the best things you can do to avoid being the victim of a fraudulent forex broker is to sign up only with a regulated broker. Although not all licensed brokers are ethical, there are very few honest financial services that are not regulated. Checking there is a license and that it is from a top regulator is the first step towards staying safe trading forex.
What to Do If You Have Lost Money to a Forex Trading Scam?
If you have lost money to an unregulated forex broker, it is important to seek assistance from CryptoScamBrokers immediately. We use tracking tools and software to locate the people who are running the fraudulent operation and to find your funds.
Locating your fund depends on how you funded the brokerage account. For instance, if you used a credit card, you will need to request a credit card chargeback. This may be a challenge if you have authorized the charges, which is why you need our assistance to present your case persuasively.
If you funded your account through a bank wire transfer, you will want to ask for a wire recall or that the funds of the recipient be frozen. To do this, you will need to provide significant evidence showing that the other party is running a forex scam. Our investigation report can demonstrate what happened and convince the bank to lock down the funds and look into the matter.
Cryptocurrency can seem complicated because your funds may have ended up in an anonymous bitcoin wallet. Our crypto trace technology and bitcoin forensic investigation can uncover the identities behind bitcoin transactions and locate the people behind the forex trading scam.
Seek Assistance with Your Broker Complaint from CryptoScamBrokers
Did someone hack your bitcoin wallet? Have you lost money to a scam broker? The CryptoScamBrokers team is on hand to listen to your claim and to gather the necessary information to search for your funds. Our cointracking technology and crypto trace strategies allow us to uncover the people behind the anonymous bitcoin wallets. Let us achieve results for you.