If any of the following happened to you, you are probably the victim of a trading scam:
- Firstly, has your account manager convinced you to start small with a deposit of 250 (Euros, Pounds, or Dollars)? Did he then show you on the trading platform that your initial investment has now grown to 1000 in a single week (or something like that)?
- Secondly, were you looking to invest in Forex, Binary Option or Cryptocurrency? Did your broker tell you that you can become rich trading just a few hours a week?
- Maybe you are already making tons of money on their trading platform and yet they persuade you to keep putting more money. When you to attempted to make a withdrawal, did they convince you and pressure you to leave the money in?
- Did your broker provide a very insecure password to your new trading account like 123456?
- Finally, does your company charge zero fees to make trades for you?
If you answered yest to one or more of the above questions, there is a really good chance that you are indeed a trading scam victim. All of the above are key indicators that you have been the victim of an online trading scam. Why? Because A, there is no investment opportunity under the sun that can make a 300X return in a week. B, it is impossible for a juvenile investor with no prior trading experience to become rich with just a few hours of work a week. C, no legitimate brokerage would try and prevent you from making a withdrawal. It is your money! D, no professional trading company would put their customers’ money at risk by providing an insecure password like 123456. And E, how does your broker make money if he doesn’t charge fees unless he is scamming you?
To sum up…
In other words, if your broker is making impossibly outrageous claims about the profits you can make, tells you that you don’t need experience, prevents you from withdrawing your money, provides childish passwords, and doesn’t charge fees, he/she is ripping you off. On the other hand, an honest broker will be straightforward and explain the risks, that you might lose all of your money, especially if you are inexperienced.
Still not sure if you were defrauded?
- Go to Google and type in “(insert the name of your trading company) scam”. What do you see?
- Also type “FCA warning (insert the name of your trading company)”. Did the FCA issue a warning about this company?
FCA stands for Financial Conduct Authority which is a UK regulator of financial services.
Is Your Broker Regulated or Unregulated?
Many of the Forex, Binary, Cryptocurrency or CFD businesses are not regulated. If they don’t have a trading license, it is impossible for them to trade on your behalf. To be clear, if you went to the London Stock Exchange and wanted to buy stocks they wouldn’t let you since you are not licensed, right? In fact, you’d have to hire a licensed broker who’d make his fee for placing trades on your behalf. In our experience dealing with hundreds of trading companies, we have never encountered a legitimate unregulated trading platform. Every single one has been a scam.
How can you tell if your broker is regulated?
I’ll tell you how you can know. Regulated companies clearly advertise this on their websites. If you want to check this, go onto your trading platform website, scroll down to the bottom and look for any indication that they are regulated (for example Cysec, FCA, Asic). If you don’t see it, they are not regulated. And even if they are, they may not be regulated in your country. For example, EuropeFX is regulated by Cysec but they also operate in Australia where they are not regulated.
Example: authorized by the Cyprus Securities and Exchange Commission (License No. 198/13)
Does your trading company do business out of Vinuatu, Belize or even Estonia?
If so, and your company is based in one of the above countries, this is a key scam indicator. The reason they choose these countries is because they are known for lax enforcement and government corruption so they have little to fear from law enforcement.
If you are not certain if your trading company is scam, please schedule a Free Consultation with one of Wealth Recovery Consultants and we will help you determine if you have been the victim of a trading scam.
I have been a victim of scam by A Mr Matt Lawson from
Egypt I have all the evidence
Also From a Mr Satish with his bank manager from Beijing over £200.000 can you please help me or direct me to the appropriate channel.
Thanks a million
I was scammed in the way you described by Crypto Exchange Pro who purported to be carrying out binary option trading, but in fact just stole the money deposited with them. Their very professional looking platform showed trades taking place, initially very successfully, then in the latter stages it was made to look as though my funds had been lost through unsuccessful trades.
I have around a dozen names of people I spoke to at Crypto Exchange Pro but I guess they were all false. It has been suggested to me by someone who is heavily involved in the investment business that the base for the scam could be in Israel.
I deposited funds, a total of £9700.00 via bank transfers, so I guess there is little hope of recovering any of it.
I gave my bank the account number and sort code for the account into which my cash was transferred but have heard nothing from them since.
I had a friend called Jim, he was 55 but he had a heart attack and died last month due to fact that he lost $88,000 to a woman he met on facebook. She claimed to own a construction company and needed a loan to fund a project. it was a devastating experience not only for him but the entire family.
However, last week his son was able to track the scammer and recover $40,000 with the help of a scam recovery expert. you can reach out to an agent by sending a message to
support (at) binaryoptionslitigation (dot) live
it is high time we revolt against online scams because every single day , people around us are still falling victim to these people.
on the other hand these scammers are fighting back by attacking recovery freelancers websites , giving fake reviews and taking them down.
the time to act is now.
Good day, Trust that this message finds you well. Please assist me I was scammed by two people the first one said I must pay $850 so that he can trade for me and I'll get around $10 000 a week and when I sent the money. When the week ended they said to me I must first pay tax which is $2000 but I didn't got the money and I was approached by another one he said to me I must make a payment of $250 and because I was desperate for the money I made a deposit of$ 500 and they promised me to get it within a week. I never got it they told me to pay for fees but at the first time they said I am not going to pay fees. Please assist me
Thanks for the great info! Looking forward to more updates on this.
I got scammed by someone who promised to trade money and be rich and i lost about $230
I never got it back
We're very sorry to hear about that. What is the name of the company that scammed you?