If you simply wanted to make some extra money on Forex trading but ended up as a target of a Forex scam, it is important to act quickly. Many Forex fraudsters count on their victims’ delay and can cover their tracks quickly, Reporting a Forex scam to the authorities, regulators and working with professionals at Trader Defense Advisory are the first steps to take.
Trader Defense Advisory has decades of combined experience combating frauds and providing redress for victims of all kinds of scams, including Forex scams. We will provide you with the tools to report a Forex scam and will advocate on your behalf to complain about a Forex broker to the relevant regulators and authorities. We will also follow up these efforts and strive to retrieve your funds.
1. Gather Information
When it comes to trying to report a Forex scam, any information is valuable. This means finding screenshots of the website, particularly if the information has changed on it, retrieving records of communication and any transactions that were made. If you have recordings of phone conversations or audio messages, these can also be helpful.
Make note of people, particularly strangers, who may have referred you to the broker. They may be accomplices you may have met on social media who could be involved in the scam. Otherwise, they might be other people who were taken in by the scam who may have further evidence. The more people who can contribute reliable information, the better.
The reason that so much detailed information is needed is that many scam artists hide under different identities and have multiple websites, phone numbers, and locations. One tip on how to complain about a Forex broker is to take a sample of their website copy or promotional material, enter it into Google, and see if it appears verbatim on another site. This can give you clues to duplicate identities and can help professionals track them down.
Fund recovery professionals such as Trader Defense Advisory will ask for documentation when you consult with them. The more information you provide, the easier it will be for them to locate the fraudulent parties and to make a detailed case to regulators of their pattern of fraud.
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2. Consult With Trader Defense Advisory Experts
You can report a Forex scam to the authorities, the attorney general or regulators, but it is also a good idea if a respected company has your back. Trader Defense Advisory has extensive experience in reporting fraud, pursuing cases, and helping victims complain about a Forex broker. Many people think they can go it alone, but there are many obstacles to success for those who are not familiar with the fund recovery process.
To report a Forex scam is essential, but if a broker is unregulated, there is little a regulator can do in an individual case without fund recovery experts. This is one reason the first priority when working with a broker is to choose one that has a current license and a reliable reputation. Regulators have been known to suspend, fine, and even remove licenses from brokers who do not follow guidelines, but they have no jurisdiction over unregulated brokers.
The police often take online scams seriously, but they may be so busy investigating real-life crimes that these frauds can take a back seat. Many Attorneys General have a special office specifically to address online fraud, but there is so much of it, that it is hard for an individual to get to the top of the list.
Working with Trader Defense Advisory professionals can help put your case at the top of the list and ensure it is taken care of. We have extensive communication with regulators, authorities, and financial organizations and can get results when other cases may be stalled.
3. Maintain Ongoing Communication
After the initial consultation, Trader Defense Advisory experts maintain ongoing communication with clients as our team pursues the case. From the time you report a Forex scam to the moment it is resolved can take some time, and patience and consistent communication is needed as more questions arise and additional information is needed.
Trader Defense Advisory keeps clients apprised every step of the way of the progress with the case and provides instructions on what they need to do to improve the chances of fund recovery. Patience and persistence has their rewards, and this is true when pursuing perpetrators of a Forex scam.
If you want to report a Forex scam, Trader Defense Advisory experts can help you every step along the way, from making the initial complaint about a Forex broker to taking steps to retrieve your funds. Our extensive experience and connection with financial, legal, and regulatory authorities can be put to work for you.