Get Your Money Back From A Rogue Forex Broker
Global Alliance Recovery
Forex and cryptocurrency scams
If you have lost an investment on a FOREX platform offered by companies from Malta, Cyprus, or the Marshall Islands, you are most likely a victim of fraud. Criminals usually encourage customers to make further deposits by generating profit at the beginning.
However, after depositing a more significant amount, the Forex account’s balance begins to melt immediately due to the fees charged by the broker and closing subsequent positions with a loss. Clients of a dishonest Forex broker are later persuaded to make up for the loss, but following positions only end up with a more significant loss.
What is a Forex scam?
A Forex scam is recognizable by the characteristic behavior of brokers.
and encourages them to commit fraud in the Forex market.
How to spot a Forex scam?
The easiest-to-recognize feature that may indicate a Forex scam is that the broker guarantees exceptionally high profits with little or no financial risk. In this situation, a red flag should already go off for every investor.
Experience shows that in investing, you never give a 100% guarantee. Why? If there was no risk and the trade had a high return on investment, would the broker share some profit with other market participants? It is worth answering this question with common sense.
Beginner traders should exercise caution and look at the offer, especially since it can come from a fake website or an intermediary without a license. This is another way thieves use to commit Forex fraud.
Less experienced users, seeing a document on the website that looks like a license, think they have come across a company that meets the requirements, operates legally, and is subject to financial supervision. Thus, they feel safe and – without suspecting a scam – move on to investing in the Forex market. Unfortunately, instead of a license, Forex fraudsters paste a certificate of company registration in the mentioned countries: the Marshall Islands, Malta, or Cyprus – in a word, in tax havens.
Fraudulent brokers planning to commit Forex fraud never sign up with any regulatory body. They are probably dishonest brokers if they do not provide investors with their license numbers.
How to recognize a cryptocurrency scam?
The crypto scam involves accepting deposits to fake investment platforms using cryptocurrency exchanges. Scammers trick victims into sending them funds to a cryptocurrency wallet, making it very difficult to track them down. The victim sees funds sent using cryptocurrencies in his investment account, but they never went there.
Global Recovery Alliance
If you find yourself in a similar situation, do not give up and accept the loss of funds.
Forex scams are punishable by law. Our Law Firm has already helped dozens of people recover millions lost due to investments in the FOREX market.
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