In the digital world, the more you know the better. A lot of the things that cause financial damages to people can be avoided if they only know about them. You can’t just trust your guts or let your intuition rule you in deciding whether you should sign up with an online trading services provider or not. You have to base that decision on your knowledge, experience, and understanding of the scams. For this reasons, it makes sense for you to learn about the typical methods for scammers to get to you and take your money.
Once you know that method, you will know how to tackle a scammer. In factyou can even turn the tables on them and make them pay your money back if they have taken even a penny from you. So, here is some information on how a typical scam will try to lure you into a trap.
The Typical Path of a Scammer
· Great Trading Accounts and Features
Things sound great when you go on a scammer website. They have a great-looking website that tells you all about trading, the trading accounts, and the process of opening a trading account. They have an asset index, a few moving charts and graphs to make you think they are industry experts. However, if you look deep into the information, you will realize that they are saying nothing special. In fact, some of the features that come with their trading accounts offer no value. Their features are usually a copy paste job from other reliable websites.
· Getting Too Much Detail in the Name of Banking
So, when you try to sign up with them, they will ask you for your personal and banking details. Yes, in some countries of the world, you have to provide your personal and banking details in the picture format, but that does not apply to every country. If your country does not require you to submit a picture of your credit card for banking verification, there is no reason for you to do it. Most importantly, you never want to disclose the CVV number at the back of your card. If they are asking for that, they are definitely a scam.
· Offering Unbelievable Leverages
Offering ridiculously big leverages on trades is one way for them to get your attention. In a way, you could trade hundreds of thousands of dollars despite having only a few hundred dollars in your trading account. The leverages can go as high as 1:1000. However, such leverages are not good for you all the time. Keep in mind that the leverage can go in any direction.
· Making Withdrawals Possible
As you must have noticed, nothing seemed too out of place until now. However, this is the point where the scam falls into place and you realize you have made a huge mistake. You open a trading account, you deposit your funds, you enter a trade using leverage, and make profit on your trade. When it comes to withdrawing the profit, you just can’t. They make it so difficult that you realize at one point that you will never be able to take your profits. The scam has worked.
Making Scammers Pay Back
Yes, the fake forex brokers list is growing and that’s a point of concern, but if you look at the flip side, you now have companies like Claim Justice that can get your money back from the scammer. It does not matter which type of scam you fell for, you can get the help you need. You just have to get in touch with the company, tell them the details of the trading scam, how you ended up giving your money to the scam, etc. After getting all the information from you, they can help you with the refund process.
If you think you can’t get money back from a scam, you are mistaken. You can definitely use the right services and make the scammer pay back your money before you know it.