3 Indications That You Have Been Scammed by a Trading Fraud
Getting scammed and knowing about it is one thing, but getting scammed and not knowing about it is the worst thing that can happen to anyone. You have to know that online trading frauds are becoming sophisticated. They have reached […]
Getting scammed and knowing about it is one thing, but getting scammed and not knowing about it is the worst thing that can happen to anyone. You have to know that online trading frauds are becoming sophisticated. They have reached a point where they don’t even let you feel that you are being scammed. You get great customer support, they have an answer for all your questions, and at times, they might even let you take out some profits to win your trust.
However, there are certain situations in which you can’t be sure if you are being scammed or not. Are you going through the same? Are you wondering if you are working with the right trading services provider or you are just stepping into a trap? Here are some signs that should send you a red alert signal that you are being scammed.
You Are Losing Money without Any Explanation
So, when you start a trading account, you first have to deposit some funds in it to activate it. Now, these funds can be there in your account forever until the broker tells you otherwise. You can’t just lose this money without trading. When you trade, you put in some money toward the investment. You can make a profit on that trade or you could end up making nothing. Even if you end up with a loss, you don’t loss all of your money at once. However, if you haven’t trade but the money have been taken out of your account, it could be the sign of a scam.
The company might tell you about various fees, but that’s not how things should work. If they are taking out fees even when you are not trading and you don’t have an open position, they will eat up all your funds without you ever trading.
You Can’t Withdraw Your Profits
This is one of the biggest signs that you have already stepped into the trap. Unfortunately, if you can’t take out your profits, it’s already too late for you to realize that someone is scamming you. In other words, you have already been scammed. A trading scam does not say on the face that it is a scam. It wins your trust first and then tries to give you plausible reasons for not giving you the profit. It might ask you to put more money into your account before giving you your profits. It could even have some weird conditions that make it hard for you to withdraw the profits.
The truth is, you should be able to take your hard-earned money out whenever you want. There should be a standard procedure and it should not take more than 5 working days. If they are asking you to deposit more money to get the money you have already made, they are going to scam you. Don’t ever make such a deposit.
You Don’t Have to Give Any Information to Sign Up
It is true that giving out too much personal information is not good for you. You don’t want to give someone so much information that they could go around and assume your identity. However, the other end of the spectrum isn’t suitable for you either. You don’t want to sign up with a company that does not ask for any information from you at the time of signup. You can be sure that they will ask for all the information that you can think of when it comes to taking out your money. In other words, they will blackmail you with your own money to get your personal information.
Be Proactive while Trading
Firstly, you should take a look at the fake forex brokers list before you sign up with one. Secondly, you should look for reviews that help you know how good or bad an online trading services provider is. Last but not least, you have companies like Claim Justice that can help you get your money back if it’s already too late for you to protect yourself from the scam.