How to Recover Money from Binary Options Scam — Recover lost money
Lost money in a binary options scam? Here is how to recover your money from a binary options scam.
There are thousands of fraud related to the binary options scams throughout various websites and platforms. Many traders have lost their deposit and profit to fraudsters.
Binary options may be hard to resist because scammers show up convincingly in the market, offering attractive benefits. Investing in a binary scam could lead to a financial problem as you’d lose your money even if you win profitable trades.
Binary trading sites scam traders in different ways. Based on the elaborated reports,
These are how you can lose money in the binary options scam:
Broker Refusing To Pay? Recover your money from the Binary Options broker
The most classic binary options scam is where the broker refuses to pay or reimburse funds to the clients. This scam has dominated the complaints of traders who open an account in such fraudulent brokers.
In general, the scenario is where the broker pushes traders to make additional deposits into their accounts. These binary trading scams would require it before you can make a withdrawal over your money and profit.
Next, what happens next is when you want to withdraw the deposited money and your trading earnings they’ve promised. These binary options trader scam sites would decline your request and hold your money.
They refuse to credit your accounts and start cutting communication with you. At this point, you’re losing your money, and even though the binary options platform is still online, you’re unable to make any withdrawal over your withdrawal and ROI.
Data Theft and how to recover from binary options scam
You can also lose money on a binary scam when the scammer steals your financial or personal data. The scammer uses the binary trading platform to collect your confidential data, including credit cards, ID, passports, licenses, and other information for fraudulent purposes. You may not know how they’d use your data, but the worst case is that they can access your financial accounts.
This type of binary options scam usually doesn’t require you to make any deposit as the scammer doesn’t need to play around with the trading. They want to steal your data in the first place, but they employ a convincing binary options website that demonstrates their knowledge and expertise in two-option trading.
In some advanced binary investment scams cases, traders lose their money from the broker’s software manipulation. The scammer takes advantage of their self-built online binary option trading platforms by modifying the software to manipulate the trading values and payouts.
Scammers may also manipulate the countdown of the expiration of the locked trade that changes your status from winning to losing. Even though you’re going to win, the scamming broker would extend the end, making it appear lost in your interface but won on their side. This way, they take both of your traded money and returns.
This binary options scam requires an advanced technical background on a trading platform. Since they can manage the value, payouts, and expiration time, scammers constantly take your money throughout sessions instead of taking them all at once. When played naturally and smoothly, investors or traders may not be aware of losing money from a fraudulent binary options trading platform.
Some people have also lost their hard-earned money for overcharge and unfair commissions as you might have known that winning binary options trading means to keep 70%-90% profit.
Depending on the broker, they may require some percentage of the profit and the trading fees. While this system is okay, some fraudulent binary options brokers may scam their clients with unfair commissions.
Charging their clients much more than what their agreement at the beginning was. Next, you’d need to comprehend how to recover from being scammed by such a broker.
They may charge the commission and fee automatically from your account on the platform. You must know how much they are charging for your binary options trading winning in the front.
A reputable broker would disclose the contracts upfront when you open an account on the platform. It’s hard to dispute such a scam since you’re still able to withdraw your credit but not in the amount you’ve expected.
Recover Your Lost Money from Binary Options Scam
When you’re losing your money from a binary options trader scam site, getting it back credited to your account could be a daunting task. There are limited ways you can recover your lost money from these scams. However, each case has its challenges and uniqueness that can last from one month up to three months.
Reverse Credit Card Process on failed Binary Options Investment
Where you are unable to withdraw your investment, you can reverse the credit card process by requesting a chargeback. At this point, you’re disputing the transaction over a fraudulent charge from the binary market scams broker. The chargeback process involves
- filing the request,
- submission to credit card provider,
- reviews by card network,
- settlement, and finally,
If the broker is willing to reimburse your payment, the process would be shorter. However, if the broker refuses to pay and disputes the chargeback, the process will be longer. The delay is because it involves more thorough reviews and investigations. In the end, the card network(Visa ,etc) would take the final decision on who should pay for the credit card.
Whenever the chargeback process doesn’t work, hiring a binary options recovery company is the most viable option. These companies provide professional services focusing on binary options recovery, helping victims recover money from binary options scam.
There are various investment recovery companies, but you need to ensure that you hire a legitimate binary options recovery. They must have extensive background in handling binary options scams. You need to share your financial account information with this third party recovery company, you should choose the more reputable and credible one.
You can lose money from binary options scam differently, from blocking withdrawal to overcharging the trading fees or commissions. Either way, the loss can be permanent if you don’t take a quick step to dispute the transaction and recover from binary options scams.
Requesting a chargeback or hiring a recovery company are two top solutions or binary options scam.
Read also: Recover stolen funds with Atrium Forensics
Originally published at https://investmentbloom.com on October 28, 2020.