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Forex Withdrawal Scam

Forex Withdrawal Scam

Clients can be working with a forex broker for a while, and may not realize they are caught in a forex trading scam until there are forex withdrawal problems. Customers should always be allowed to withdraw funds except under special circumstances.

Although legitimate brokers may have certain rules regarding withdrawal, holding onto clients’ money for an unspecified period of time is the hallmark of fraudulent behavior.

Unfortunately, many clients may not notice the signs of a forex trading scam until it gets to the point of not having access to their money. A forex withdrawal scam often shows signs of not being legitimate early on, but if consumers do not know what to watch out for, they may not notice the problems.
However, even if you have lost money in a forex withdrawal scam, it is not too late for fund recovery. With the right resources, you can build your case that will make your claim become successful.
Broker Dispute provides expert fund recovery services and has a strong track record of success. Our team consults with clients and guides them through the fund recovery process whether they require a chargeback, a wire recall, intelligence reports or need to file a complaint. Contact us right away and get started on your road to fund recovery.

Report a Scam

Have you lost money to a scam? You are not alone. Internet financial scams are on the rise and millions are lost daily fraud. You may have read stories about social media celebrity crypto scams and fake bitcoin investments. Many scammers think that cryptocurrency can’t be traced because the blockchain is believed to be anonymous. However, Broker Dispute professionals have methods of tracking down crypto scams.

Many people are also duped by brokers who take their money, create forex withdrawal problems, and then seem to have disappeared for good.

At Broker Dispute, we can track down scammers who hide behind the blockchain or brokers who try to vanish. We can achieve favorable results for our clients. While no service can give a 100% guarantee of full recovery of funds, our team has achieved impressive results.

If you have discovered a service you have been working with is fraudulent, whether it is a crypto service or a broker, it is essential to report them right away. Talk to Broker Dispute experts who will provide guidance on how to draft an effective crypto complaint or broker complaint. Act quickly, because online scammers can assume various identities and launder money fast. Broker Dispute professionals are ready to consult with you about filing a fraud complaint.

Before you report a scam, do the following:

  • Gather all documentation
  • Create a timeline
  • Find the relevant regulatory body

When you consult with Broker Dispute experts or if you are going to file a complaint directly with a regulator or authority, it is important to have all of the documentation you need. This includes all contracts, communication, screenshots of websites, and other information. Even small details can help identify the scammer. Create a timeline of events in your relationship with the other party.

Finally, find the right regulator for the complaint. This may be the regulator of the broker you have been working with. If your broker is not regulated, you will need to find an authority in the relevant region that takes care of cyber fraud.

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Our Service

Broker Dispute is laser-focused on protecting our clients from financial fraud and seeking restitution for those who have lost money or data in scams. Our team is comprised of experts in their field with top credentials and vast experience in the financial industry and dealing with fraud.

Our Service

We provide a full range of fund recovery services including chargeback, bitcoin recovery, wire recalls intelligence reports, crypto complaints, or broker complaints. We work with regulators, banks, and law enforcement to get the best results for our clients. Broker Dispute is a recognized name in the fund recovery services space and is a leader in tracking down crypto scams.

We consult with every client to answer their questions, address their concerns and provide guidance. Our experts take the personal approach and believe that every case is unique. If you are unsure whether or not to work with an online broker, consult with us for advice. If you have been the target of a forex scam, broker scam, or other types of fraud, we will do research, assist with reporting and strive to track down the scammers.

Our Experts

Broker Dispute has formed its effective team from various sectors of the financial industry and cyberfraud investigation services. We understand the mechanisms of crypto scams and how they use the blockchain as a way to mask their fraud. Our professionals have combined decades of experience consulting with clients, investigating cyber fraud, negotiating with banks, and cooperating with regulators and authorities to track down all types of fraud.

Every week, our experts combat a variety of fraudulent activity, including crypto scams, forex scams, broker scams, as well as romance fraud, social media scams, and fake charities. We personalize our service to create a perfect fit for every client. Not all cases are the same and we match the right strategy to the situation and goal.

Broker Dispute professionals maintain ongoing communication, from the initial consultation to the resolution of the dispute or the scam. We assist clients through the entire process and keep them informed of progress. If you need fund recovery experts who are truly on your side, contact Broker Dispute professionals.

What Are Forex Withdrawal Scams?

Forex withdrawal scams are, as the name suggests, fraudulent forex trading services that will not release funds to their clients or at least make it difficult or expensive. These scams can use several strategies to hold on to clients’ money, from intimidating them when they request withdrawal to simply stealing the money and disappearing.

Type of Forex Withdrawal Scams

The following are some tactics that forex withdrawal scams use to keep clients’ money.

Unreasonable Rules about Fund Withdrawal

Forex trading scams may outline rules for withdrawing funds. These are often unreasonable rules or those that are not akin to those applied by regulated brokers. For instance, the following are examples of fund withdrawal rules given by actual forex trading scams:
  • Fund withdrawal is only allowed after a certain amount of money is made or traded
  • Funds are only released after the account has been active for a certain amount of time
  • Funds cannot be withdrawn in the middle of trade (and the broker keeps pressuring additional trades so the client doesn’t have time to withdraw the money)
Consumers who do not have experience with forex trading may not realize that these rules are at all unreasonable. Worse yet, these rules may not be stated in the terms and conditions or the website, but the fake broker may tell clients that these rules are in place after they have already opened an account and funded it.

Extremely High Fees for Fund Withdrawal

Another method forex withdrawal scams use is to charge exorbitant fees for fund withdrawal. In this case, they aren’t denying clients their funds, at least according to their rationale, but they are making it seem like a disadvantage.
This is usually when the fake broker persuades the client to make another trade. After all, if they make more money, they will make it worth it to withdraw fees, whereas paying the high fees on the current balance would be expensive.

Threats to Prevent Fund Withdrawal

At least at first, forex trading scam brokers will try to use persuasion and deterrents to prevent fund withdrawal. However, once the client is upset or indicates they are going to file a complaint, the broker may resort to threats. However, they may make these threats sound like policy or something they have learned from experience.
For instance, they may claim that clients will lose all the rest of their money if they withdraw some of it. They may phrase it as if the client will lose money as a matter of course from remaining trades, the broker may be implying that they will take the rest of the money or that they will freeze it.

Complete Denial of Fund Withdrawal and Disappearing Brokers

After a fake broker has done their best dissuading clients from requesting fund withdrawals, they may simply flat out deny fund withdrawal or disappear completely. This often happens when they suspect the client is on to them.
Scam brokers may ghost one particular client, claim their account is frozen, and stop all communication with them or will take off with all of their clients’ money at once, which happens often in the cases of Ponzi schemes. It is always best to try to file a complaint about a broker before it gets to this point, but even if you already have forex withdrawal problems, there are still some steps to take.
Signs of a Forex Withdrawal Scam
Avoid having to track down scam brokers after they have already taken your money. Here are some signs of forex withdrawal scams.
  • Unregulated broker
  • Lack of transparency about the withdrawal policy
  • Exorbitant fees or time restrictions on fund withdrawal
  • Pressure to make additional trades even after the previous one has lost
  • Find flimsy excuses or “new” rules when asked to release funds
  • Claims your trades have lost but does not provide evidence
  • Stops communicating or disappears

What to Do If You Have Forex Withdrawal Problems

Even if a broker seems to have vanished, there are ways to track them down. However, it is important to enlist the aid of a service that will fully investigate the scam and provide tools and information authorities need to pursue your claim.
If you have forex withdrawal problems, it is important not to delay. Once time has passed it can be more of a challenge to track down the scammers. Consult with Broker Dispute professionals and provide the documents and information about the forex withdrawal scam.

Do You Need Fund Recovery Services? Talk to Broker Dispute Professionals

Do you want a team of seasoned experts on your side to help you with fund recovery services? Speak to Broker Dispute today. We will consult with you and build your case in a way that will improve your chances of success. We have connections with banks, regulators, and authorities and can make help you with the fund recovery process

Fund Recovery Process

The Broker Dispute team has an approach that is systematic yet flexible to provide structure and personalized service for every client. We begin the fund recovery process by consulting with clients and asking for documentation and a description of their experiences with the fraudulent broker or service.

The goal of our consultations is information gathering and support. We know what questions to ask to get the informaation needed for the fund recovery process. Our experts also provide advocacy, which is a must in the fund recovery process.

It is easy to get lost in the maze when dealing with fraud cases. That is why it is important to find the best advocates when you have lost money. Broker Dispute will present your case in the most effective light and will be your advocate throughout the entire process.

After consultation, Broker Dispute experts will undertake various activities depending on the case including research into the fraudulent party, negotiating with banks, advocating for the client with regulators, and providing information to law enforcement. We will pursue your case and keep you informed of its progress.

Although there is no way to guarantee 100% that the fund recovery process will result in a complete return of funds to the client, your chances of success are greatly improved working with Broker Dispute. Our clients can testify that we provide personalized, focused service, a full range of services, and effective advocacy during the fund recovery process

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