Forex fraud happens increasingly often to those who trade on the foreign exchange market. The foreign exchange market is a completely legitimate trading market which is used to trade international currencies, which makes it difficult to spot Forex fraud scams from the legitimate tools, platforms and wallets that can be used when conducting safe international trades.
There are many signs to look out for if you think a regulated Forex broker has breached regulations when it comes to trading your money. Signs of regulated Forex fraud include:
If you notice any of these signs, you may have fallen victim to Forex fraud. If you feel as if you may have lost money through Forex fraud, please get in touch with Wealth Recovery Solicitors today. You have limited time to recover money from lost trading funds, so contact us today!
Forex fraud can happen at any time – these attacks can be very specific and sophisticated, meaning they can even be unnoticeable to the untrained eye. When looking out for signs of forex fraud, you will need to be as well-informed as possible. Traders on forex markets will know that forex trading uses multiple different platforms. These platforms are responsible for storing your assets and providing access to market information, which is crucial for good trading. Because these platforms are so essential, it can be extremely lucrative for scammers to commit Forex fraud by creating scam platforms. Most Forex Fraud cases involve fake trading platforms that mimic legitimate trading applications, including copying their names, branding and even appearing to use their website addresses.
Unfortunately, if you fall victim to Forex fraud via these scam platforms, it is unlikely that you will ever see this money again without specialist help. In these situations, it is crucial that you contact wealth recovery solicitors like us, as we have extensive experience with Forex fraud recovery. Our expert team of lawyers can investigate wealth loss, contact banks and platforms on your behalf and following the correct legal processes, and ensure that you get your money back as soon as possible. If you’re interested in Forex trading, remember one simple rule – if it looks too good to be true, it is likely an attempt to commit Forex fraud.
Forex trading is the practice of exchanging multiple currencies, to generate profit due to changing exchange rates. Forex trading is completely legal and legitimate, and it is the most actively traded and largest market in the world. Because of the amount of investors trading on the Forex market, Forex fraud is very common as it is very lucrative for scammers. Global forex trading stood at $6.6 trillion daily in 2019, so you can imagine what might be up for grabs to potential scam artists.
If you’re thinking of starting Forex trading, you need to be aware of potential Forex fraud. Forex fraud can cost you a lot of money and can knock your trading confidence, so you need to remain vigilant to protect yourself and your money.
Unfortunately, many investors are falling victim to Forex fraud even though they use a regulated Forex broker. A regulated forex broker is responsible to a financial regulatory organization. In the US, the two main agencies who regulate forex trading are the Commodities Futures Trade Commission (CFTC) and the National Futures Association (NFA). However, even though the Forex broker is legitimate, they may have made trades without the proper knowledge or taken investing risks without making you aware of potential pitfalls, resulting in you losing your money. Alternatively, if investors are dealing with Forex brokers that are regulated abroad, this could mean less stringent rules for both trades and brokers themselves. It’s important to remember that Forex fraud can happen even if you’re using a regulated forex broker.
More and more investors are losing money through regulated forex brokers. However, this may be a positive in the unfortunate event that you fall victim to Forex fraud. Regulated Forex brokers can be held accountable for any misconduct or wrongdoings by their regulatory body, so you are much more likely to recover your funds after a Forex fraud incident when you have used a regulated Forex broker.
Here at Wealth Recovery Solicitors, our team of legal experts have a lot of experience helping investors recover their money and make the brokers comply with appropriate regulations and laws. We can help you recover your money, even if you experience Forex fraud from a regulated broker.
The Forex market involves moving trillions of dollars a day, and finding legal and legitimate forex brokers is like finding a needle in a haystack. This makes Forex fraud much more likely, as there is a high concentration of unregulated Forex traders out there.
Although Forex trading is a very common form of investment, Forex fraud is also on the rise. Because Forex trading can take place by unregulated traders, investors have a very high chance of accidentally dealing with an unregulated Forex broker, and falling victim to Forex fraud.
Unregulated Forex brokers can manipulate prices, meaning you can lose more of your money and at a faster rate. They can also manipulate you into investing more money – investors can lose large amounts of money to Forex fraud. Forex fraud is one of the most pervasive scams facing investors in today’s market.
Make sure that you don’t lose your money through Forex fraud and trading. At Wealth Recovery Solicitors, we can help you recover your lost funds, whether it’s through a regulated or unregulated Forex broker or a scam. In the past year, we have helped our clients recover millions of dollars from fraudulent investments, including Forex fraud.
Our team is always on hand to help trace your Forex trading history and recover your funds, so book a consultation with us today, and take the first steps to recovering your lost money.