If you feel as if you have lost money through a regulated broker, you need to determine whether they were actually regulated or not. A regulated broker has to be responsible to a regulatory body – in the USA, this is usually the Commodities Futures Trade Commission (CFTC) and the National Futures Association (NFA). So far, we have recovered millions of pounds for people who thought they were trading through regulated brokers.
Even if you lose your money, there is a positive to losing money through a regulated broker. Regulated brokers can be held responsible for wrongdoings, misconduct and breaking guidelines. Our legal team has extensive knowledge and experience, meaning we can apply pressure on these regulated brokers to retrieve your funds and ensure that they comply with all correct procedures.
If you feel as if you have lost money through a regulated broker, you need to determine whether they were actually regulated or not. A regulated broker has to be responsible to a regulatory body – in the USA, this is usually the Commodities Futures Trade Commission (CFTC) and the National Futures Association (NFA). So far, we have recovered millions of pounds for people who thought they were trading through regulated brokers.
Even if you lose your money, there is a positive to losing money through a regulated broker. Regulated brokers can be held responsible for wrongdoings, misconduct and breaking guidelines. Our legal team has extensive knowledge and experience, meaning we can apply pressure on these regulated brokers to retrieve your funds and ensure that they comply with all correct procedures.
Although regulated brokers are approved and responsible for their trading decisions, this doesn’t make them reputable or careful with your investments. A regulated broker who is unreputable will act on their client’s behalf – but instead of making investment decisions as they’ve been instructed to do so, will make their own investment decisions. Regulated brokers can start to make their own decisions in the belief that they can make more money and pocket any returns. However, this can have the opposite effect, meaning a regulated broker can end up losing all of your money.
Another way regulated brokers can lose all of your money is through lack of experience. A regulated broker who is new to the trading circuit can make the mistake of trading on instinct, instead of trading using tested strategies. For example, if a new regulated broker enters the market they will make emotional decisions, meaning that their professional judgment is often lacking.
There are many ways regulated brokers can lose your investment funds – but they should be held accountable if they have broken any guidelines or took unnecessary risks with your money.
Before you choose a regulated broker for your trading purposes, you need to look out for warning signs of untrustworthy brokers, so you can choose the right regulated broker for your needs.
Conducting an online search on the regulated broker can reveal any bad feedback or comments. It’s important to note that these reviews could be just from a disgruntled trader, or could reveal something more serious. Doing your research on regulated brokers will help you find the best trading service for you.
One of the worst things to look for when researching regulated brokers is to find complaints about traders not being able to withdraw funds. This is a clear sign of regulated broker fraud, and you should contact the broker for more information or steer clear of this broker.
A very common way regulated brokers entice new traders is through offering money incentives to trade, which will be used against you when you try to withdraw the funds. Reading through the fine print will ensure that you’re not being scammed when opening a new trading account with a regulated broker.
Before you make large trades with a new regulated broker, you should test it out with small amounts of money. Trade with the new regulated broker for a month or so, and request to withdraw the money and see how they react. If there are any issues, discuss them with the broker and try to resolve the issue. If there are any issues, you will know to avoid this regulated broker to make large investments.
Doing your due diligence before choosing a regulated broker is important to protect your funds, and avoid falling victim to a scam.
If you believe you’ve lost money despite using a regulated broker, or through a potential broker
scam, please get in touch with us as soon as possible. Brokers sometimes blame traders for poor results and losses, however, regulated brokers are at fault sometimes.
Our team of legal experts are always on hand to help you if you lose money through a regulated broker. We can help you identify whether your money was lost due to a regulated broker or scam, and suggest the next steps for you to take. If you feel like you’ve lost money to a regulated broker scam, book a free consultation with us today and take the next steps to recovering your wealth.
T: +1 866-691-5051
Disclaimer: My website provides free consultations. Chargeback and other fund recovery programs contracted thereafter are subject to retainers, fees and/or commissions depending on the individual case history and the type of service selected. Wealth Recovery Solicitors does not offer any financial investments or advice.
*May not initially apply to cryptocurrency cases.
