Scams on online trading platforms are very common and promoted through unreliable brokers and social media channels.
Scammers usually promise high returns and use fake influencer and celeb endorsements and images of lavish products to entice people to invest in online trading.
The ads are linked to professional-looking sites where consumers are forced to trade, either by means of a managed account where the firm does trade on your behalf or on their own by using the broker’s platform.
A lot of traders’ report receiving some returns in the initial days from the broker to create an impression that their trading has been successful.
They will be encouraged to bring in more money or introduce their friends to online trading. However, the return is eventually stopped and the trader’s account is suspended and you have no way to contact the brokerage firm.
If scammed during online trading:
You can report the firm on the Consumer Helpline number. If you have already been scammed, then the scammers will target you again or sell your personal information to other criminals.
The next scam procedure may be completely different or somehow related to the previous one, such as an offer to get your lost money back or you buy your investment again with a small payment.
Well, do not fall for it. In case you have given your bank details to a firm that has scammed you, speak to your back instantly.
Where can you go for help?
Well, if your hard-earned money has been scammed in online trading, then Money Back will give you the required help.
It will confront the financial authorities on your behalf. The company has a team of professional lawyers who will retrieve your money.
They will take legal and serious action for you. The company aims to bring your money back in your account in a few months, depending on the complexity of the case. All you need to do is be patient.
If you have been scammed, then speak to them now so that immediate action can be taken instantly. No matter what trading it is, stock, forex or crypto, they will help you out.