How do I get my money back from a crook's broker
03 / November / 19 Visitors: 200 ★★★★★
How do I get my money back from a crook's broker?
All traders have heard of fraudulent brokers. And also about the fact that Forex, like binary options, is a trivial scam and if you agree to work with them, you will definitely lose your own money.
Only that's not always true. Mostly such reviews and reviews are left by people who made the biggest mistake in trading: they chose an unreliable partner, after which they failed to withdraw money from him.
The mistake when choosing a brokerage company is probably the most fatal mistake that a trader can make. We will show you how to choose a broker for confident cooperation, how to act when there are problems and how to return the funds from the fraudulent broker, your investment and honestly received income. Basic financial safety rules
How much money can I invest?
The first and most important is to choose the amount of deposit that you are allowed to start. It's not so clear. All companies have a minimum deposit size, so decide how much you should invest before choosing a broker.
Of course, all Forex experts say that the higher the deposit, the more significant the profit will be. But we should not forget that by investing a lot of money, you risk a lot.
In addition, a broker swindler is able not to withdraw even the invested amount, so it is very unwise to replenish the maximum possible deposit. At the same time, you can easily lose money by trading on the stock exchange.
We work only with our personal money.
It is also important to invest only your personal funds. Often, those who leave fierce comments and then try to take away only the initial investment have invested more than they can afford to lose.
Sometimes, traders borrow currency from friends or take a loan from a bank in order to be able to make more substantial bets. It is this category of people who get into the most serious trouble when it comes to difficulties to pay for their investments.
Despite the fact that with the competent approach and assistance of specialists it is almost always possible to withdraw at least the initial deposit from the broker, you should never risk very large amounts, especially when the experience at the stock exchange is not so substantial as to call yourself a professional investor.
How to define a dishonest broker
Before entering into a contract with a brokerage company, you should find out:
How long does the company work in the market?
Brokers, who without any problems withdraw money from users are usually serious companies that have long been operating in the industry and have both a solid client base, and the image that allows them to get new traders.
For this level of firms, some cases of non-payment of money may end up in a loss of reputation, which as a result will be much more tangible blow to the company. So for work it is preferable to large and long-famous organizations, while the young often offer more attractive conditions.
Where did the brokerage company register and who regulates it?
As black brokers of the financial market are fraudulent structures, they cannot afford to get regulation from the checked bodies or to be registered in the state where the work of brokerage companies is very clearly defined, because complaints of users can cause at least a warning and a lawsuit, and at most complete closure of the company.
Therefore, they are registered in offshore territories, for example, Saint Vincent and the Grenadines, Seychelles or Cyprus.
It is necessary to make sure that the company is not included in the blacklist of brokers and has not been before.
Terms of Trading and a list of all existing commissions
Even a seemingly serious broker can become a unsuccessful partner when his trading conditions do not provide an opportunity to profit from trading. In case of very large commissions or high spreads, the possibility of losing money is significantly increased.
In addition, brokers often prescribe conditions that should complicate the withdrawal of funds and or motivate for serious investments. An insidious broker may write a contract so that there is almost no possibility to take the user's own money.
Such payment systems are connected to the trading platform
An auxiliary restriction for withdrawal can be a scarce set of available payment systems or a very large commission. This allows you to blame the trading system and extend the payment period during withdrawal problems.
Image on the Internet, reviews also know how to make reputation.
Only when you get acquainted with real experience of cooperation with a broker, you can judge its reliability.