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Forex Chargeback – Payback Time for Scammers
Forex trading is on the rise these days. People want to trade fiat currencies because this market is the biggest. More importantly, you will find some peace of mind when you trade in the forex market because it is an established market after all. On the other hand, you have some other rising financial markets, such as the cryptocurrencies, which people are still not as comfortable with as they are with fiat currencies. However, their comfort level with forex trading might not be paying off as they expected.
A World of Online Forex Scammers
After seeing the continuous rise in forex traders, many entities have appeared on the scene that are only defrauding people and ripping them off with their money. Their idea is to make people sign up for their trading services, pay a huge amount for opening an account, and then regret doing it all. They pull them into trading through various welcome bonuses and promotions. However, they are in no position to offer these promotions because they are not even brokers in the first place. In addition to that, you also have online exchanges that provide you with forex trading services.
At Forex Chargeback, we have designed our service to help you fight off such entities on the internet. The number of forex trading scammers is increasing with each passing day. However, we are also chiseling our skills every day to make sure that we catch all such incidents and fix them for unsuspecting traders who fall into these traps. If you think you have been scammed or someone you love has lost money to an online forex trading company, you need to get in touch with us today.
Forex Trading Is Not Bad
The purpose of our service is to protect you from people who snatch away your money in the name of trading. However, we are not here to stop you from trading at all. There are many ways for you to know that you are signing up with the right trading platform. Once you have taken those things into consideration, you can sign up with a company that you think will help you with your trading career. There is no reason to stop trading forex currency pairs. This type of trading has been around for so many years, so there is no reason to think that trading forex pairs is a bad thing in itself.
Recognizing the Right Forex Trading Platforms
There are certain factors that you can consider to make sure that you sign up with a legitimate trading platform for forex currency pairs. If you can pay attention to these things, you can be sure that you are signing up with the right people.
That’s the first thing you should confirm before you sign up with any platform on the internet. The right trading platforms will always have regulation in place. They are regulated by well-known regulatory authorities that look into their financial matters to make sure that they are doing it right. If they notice anything wrong with their financial matters, they can block from providing their services in the first place. On the other hand, a company that does not have regulation in place is not answerable in this manner. So, they can do whatever they want to your money and information.
A Proper Trading Platform
You have to look for a proper trading platform. This is the second thing you have to consider. You have to look at the website to know which trading platform is being offered to you for trading. The one thing you don’t want is to sign up with a company that tells you that you can make millions by just using their platform. They will tell you that their trading platform does not make mistakes and that with 100% accuracy, it can get you the results you want. That’s a huge mistake if you believe those words. Look for trading platforms that are professional and give you access to various financial markets while allowing you to trade on your own.
Adherence to KYC and AML
The forex trading platform you choose should adhere to the strictest AML and KYC policies. If you sign up with such a broker or exchange, they will obtain your personal information. They will ask you to provide them with your personal identification number issued by the government. You will have to send a picture of your identification card. You will also have to send a picture of your debit or credit card if you are using them. The company will not allow you to send money from a different account and withdraw money to a different one. If all of those things are in place, you can be sure that you have signed up with the right one.
Segregation and Encryption
These are two of the most important things to consider before you agree to sign up with a forex broker. Firstly, the money that you deposit in your account should be maintained in segregated funds. In addition to that, the information that you provide to the online broker should be encrypted at all costs. If the information is not encrypted, you can be sure that it is open to theft by anyone who is on the internet to steal your information.
How Forex Scammers Work
Forex scammers work in a variety of ways. Let’s talk about a few so you can identify them from a distance and avoid signing up with them.
They Say What’s Not True
They tell you things that are not true at all. They will promise you things that are not supposed to happen. For example, they will tell you that the their trading platform can trade on your behalf without your involvement, and that you just have to look at the amount of money you are making every day at the end of the day. They will show you a dreamy world where you will feel like a king. However, we can assure you that no legitimate online broker or exchange can ever promise anything to you. They are there to provide you with trading services, and nothing more.
They Charge Money for Many Things
When you sign up with the wrong forex broker or exchange, you will feel as though you are spending your money on every single move you make on the trading platform. You want to enter a trade? You will have to pay a commission to the company. You want to make a deposit in your trading account? You will have to pay some commission and service charge to the company. You want to withdraw funds from your account, you will have to pay for that as well. They have loose spreads along with huge commissions on every single trade you enter.
They Don’t Listen to You
Once they have taken your money through some method, they never listen to you. You call them on the phone number that’s given on the website, but they don’t pick up. Even if they pick up your phone, they will tell you that they are working on your case. In reality, they are not working on your case at all. They don’t even care about the fact that you lost money.
How Forex Chargeback Gets Your Money Back
Forex Chargeback works with the leading industry methods to get your money back from even the most stubborn scammers out there. If they have taken your money deceptively or charged you something on your card without your consent, we’ll make sure to get that money back. Here’s how we do it.
We Call Them
They don’t listen or respond to your call, but they definitely respond to our call. We have a team of attorneys and lawyers that’s the worst nightmare for online scammers. When these attorneys and lawyers talk to the scammers on the phone, they listen. They know they are talking to people who know the law. They know that this person on the phone cannot be ignored because he/she has power. On the other hand, they ignore you because they think you don’t have the power.
We Talk to All Parties Involved
We talk to all the parties that are involved within the transaction to make sure that everyone is on the same page. You have to know that the online forex trading service provider does not charge money from your account just like that. There are banks involved in this particular process. We get in touch with all the stakeholders to make sure that your case is heard and paid attention to.
We Present Your Case Professionally
If you have a valid chargeback and a potential case, there is no reason for the merchant to not return your money. However, you have to present your case in the right manner to get the attention of the right people. Once you get in touch with us, we are here to make sure that things work. We collect all the evidence necessary to prove that you are on the right. Once we have done that, we know who to talk to and what to say when we talk to them. Not to mention, our lawyers understand the law so when they speak to these people, they leave the impression that they mean business.
We Keep You Involved
We always have you in the loop. We want to make sure that you are there looking at everything as it unfolds. We might also contact you to get any more information from you that we think can help us with the case. You have to make sure that you provide us with as accurate information as possible. Leaving out any important piece of information can be fatal to the case.
How the Chargeback Process Works
You Get in Touch with Us
So, you open your forex trading account with an online service provider. You then notice something wrong with the account or an expense on your credit card statement that you never authorized. You contact us immediately after that incident.
We Listen to You and Record Everything
We listen to you carefully because we know that in such cases, listening is more important than talking. We make a record of everything that you tell us. We ask you to provide us with the important details of the unauthorized transaction.
Issuer Bank Takes Notice
We then communicate your issue with the issuer bank. Pull back the money that has been credited to the merchant that provided you with the service. This money is kept put into your account while the case is followed up.
Acquiring Bank Takes Notice
The issuer bank provides information to the acquiring bank. At this point, either the acquiring bank or the merchant can review the details of the chargeback. Once they think the chargeback is valid, the chargeback claim stands and you get your money back. However, if they think your chargeback is invalid and provide evidence against it, then the chargeback can be pulled back.
Merchant Responds and Issuer Bank Implements
If the merchant agrees with the chargeback request, then the money is maintained in your account. However, if the merchant does not agree, then we have to fight the case. We have to prove with evidence that the chargeback is valid.
We Can Get Your Money Back
As someone who has recently started trading, you might be overwhelmed with all the chargeback procedure, and we fully understand that. Talking with the issuer bank, sending evidence, and standing your ground can be difficult. Not to mention, you can’t really do much if the company can show you that you gave your consent for the transaction. However, Forex Chargeback is here to help you. We are adamant with our requests and persistent with our approach. We make sure we get the results that we are aiming for. If you get in touch with us in time, we can make sure to get you your money back.