November 18, 2020

3 Different ways for Forex scam recovery

Need for Forex scam recovery


The forex market has gained enormous prosperity over time and has also become one of the largest markets for trading, stock exchange of US$6 trillion every year, and withdrawing. This market is open 24 hours and seven days a week. Suppose trading closes in Tokyo, it will start again in New York, so in short, it never goes off and always working in other places around the world. Furthermore, this type of trading has helped many companies and individuals gain a lot of money. 


This growth of such trading has attracted many fraud and scammers who aim to lure customers and scam their money. Researches found out that many well-renowned service providers and brokers are involved in such scamming. Therefore there is no particular method of a forex scam and can be done anytime and anyhow. Australia is also witnessing thousands of Forex scams every year and therefore it is important for the victims of Australian Forex scammers to understand the Forex scam recovery Australia process.


Is everyone dealing in this field is a fraud?


No, not everyone dealing in this field is a fraud or a scammer. Many brokers are verified and have a valid license issued by the country’s government to work further in this sector. But the hard reality is that with an increasing number of investors, there is a high rise of scammers.




If you are scammed, then what can you do?


When a person gets scammed, no matter what, the only thing that strikes is to run and take legal help but always running to the lawyer on the first go is not a good option. The forex trading sector is a wide field, and while you proceed with the legal process, you will find a long number of years in it and still wait for the result. Therefore follow the below steps that will surely test your patience but will undoubtedly help you get results.


  • Check with your broker: It is seen that many times beginners who have just entered the market face loss. It can be due to less understanding, strategy failure, or even a trading plan that didn’t turn out successful. Hence beginners who face loss, in the beginning, feel that they might have been cheated and got scammed, but the reality is that it’s just the market. Thus contacting the broker is the best option at first so that they can explain to you where exactly the loss has occurred and how you didn’t gain any profit. 


  • File your complaint on renowned Forex Forums: Forex forums work like magic because many such scammers and fraud organizations moved out of this sector due to such platforms. Brokers who deal in forex trading take reviews and their customers’ opinions very seriously; hence a bad image can lead them to zero profit from the customers. Therefore you can try to write a detailed review and seek a solution on such forums. Below are a few examples of renowned forums:


Get your fund back by some legitimate fund recovery agencies:  Usually, asking the broker directly and giving them a threat of chargeback can easily get you your money back. If not, you can take legal help or get in touch with some fund recovery agencies which are legitimate. Furthermore, it