Is Fund Recovery possible from Broker Scams?

 

The 21st century is said to be a technologically aced age. With everything possible with just a swipe, the internet has become a vital part of our lives. The onset of the pandemic has further increased the dependability on the internet. Everyone is resorting to the only medium through which we can be in touch with the outside world. All of these factors also gave the trading market a boost. The forex market or the foreign exchange market is considered to be the biggest market in the world and has a daily volume of almost five trillion US dollars. The trade market is the only source of income for many people and the same market is the pathway to financial debt for others.

The trade and investment market is filled with brokers of all kinds. In order to prevent the scams from happening in large numbers, the regulatory authority is there in most of the countries that regulate and gives license to these trade brokers. The regulated brokers have to follow a strict set of rules that makes it impossible for these companies o teen attempt a scam. However, the companies that do not have a license carefully dissolve in the crowd and attract innocent customers with their fake schemes and promises. These fraud brokers will go to all the extents to convince the customers. All of this starts with these scam brokers buying or acquiring customer’s contact details. This is preceded by calling up these people and pretending to be regulated companies. These scam brokers may also provide random licenses and claim it to be theirs in order to gain the trust of the customers. After convincing the customers, these brokers will pretend to be the most hospitable people on earth till the time the victims are depositing money. The problems will begin when the customer files for a withdrawal. Soon, the true colors of the scam company would be revealed and it would not take much time for the customer to realize that they have been scammed. With the pandemic, more and more people have started trading online thus, observing a rise in online scams.

Although every broker may not be a scam, you must always be aware. If you are facing any issue with your broker company regarding the processing of the withdrawal, you should give them at least a period of 4 weeks. If the broker company fails to process your request or goes on to cut all the communication ties with you, and then you should look for other options to retrieve your hard-earned money from the fraud broker. We, at Fund Recovery Checker, provide you with just the right guidance in case of a scam. We have a team of experienced traders and experts who have been helping victims of scams for years. Not only have we been successful in guiding the victims in getting their money back but also have established a recognizable position at identifying scams. With the right guidance and presence of mind, you can also ace in the trade market.

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