It is realistic to return the money lost on binary options trading if the account was replenished through Visa and MasterCard. Electronic payment systems do not participate in the return! Another condition – no more than 540 days should pass from the moment of loss.

Chargeback – what is it?

The return procedure is called chargeback. Not all beginners know about it, so we decided to tell you more about how the money is returned and who can help with this.

The essence of the procedure is to cancel the transaction of the card holder. The bank returns the funds if the client proves the low quality of the service provided, double charges, write-offs of amounts other than the purchase price. But how to prove to the bank that the voluntary transaction turned out to be a fraudulent scheme?

There are several ways. We need screenshots of correspondence with the broker, the movement of funds on the account, evidence of the fulfillment of the conditions of the broker and verification. The chances that the bank will be able to convince a little, so it’s better to hire an experienced lawyer who can prove the guilt of a fraud broker.

 

binary options return money

 

Binary Options Refunds

On the binary market, there are not so many brokers that are working honestly. Every third, especially new binary options broker is outright scammer, then conducts illegal activities without registration and license.

You can only order the chargeback procedure if the transaction has been registered with a company with regulation. To start the procedure, it is enough to write a letter to the regulatory authorities of the organization. Brokers without a license work outside the law. It is very difficult to hold them accountable, if only because the traces of interaction are erased along with the blocking of another naive newcomer.

Instructions for applying for a chargeback

If you have no experience in such matters, but there is money to pay for the services of lawyers, do not regret it, use the help. You will only benefit from this. If there is no extra money, but you need to return the lost, follow the instructions:

  1. Check the possibility of chargeback. How was money transferred to the broker’s account? The bank will cancel the transaction only if the funds were transferred from the Visa / MasterCard to the broker’s account, and not to an electronic or crypto wallet and not earlier than 540 days ago.
  2. The broker has money to return. His accounts should not be canceled.
  3. You must apply for a refund as quickly as possible, while collecting documents for evidence of fraud, that is, poor-quality services.
  4. Get ready to provide a broker service agreement. It is desirable that this was the version of the document at the time of the transaction.
  5. Monitor the return process after applying. Banks and even more so the broker will try to drag out time to delay the moment of reckoning.
  6. Do not indicate the broker as a fraud, otherwise the bank will redirect the application to the police, and this will take more time and not the fact that it will give a real result. Declare low-quality service and the desire to withdraw money.

Get ready for the fact that the return procedure will be delayed, require additional investments and, possibly, will cost you nerves. It is very difficult to prove the broker’s guilt when it comes to poor-quality service, especially if the money was transferred voluntarily after reading the company agreement. That is why it is so important, whenever possible, to hire a lawyer, not a fake one, who is ready to work for a percentage of the amount, but a real one, with successful experience winning in such cases.

Chargeback Fraudsters: Cheating Scheme

There are more and more scams in the binary options industry every year. They divided into imaginary mentors, lying brokers and so-called lawyers. All have one goal – to rob, deceive, leave with nothing. We will talk about scam lawyers.

Fraudsters specialize in recovering lost money from unreliable brokers. Rather, they say that they specialize. In fact, almost everyone does not even try to help. The scheme is simple: they take an advance payment and disappear along with it, not answering calls.

How do scammers work? Many collaborate with scam brokers. Deceivers themselves go to traders, offer assistance for a fee and always with a prepayment.

Some have their own sites and rented offices. They attract customers with a fake test, supposedly allowing you to assess the degree of probability of a refund. Almost always, the test shows 100% probability, although in fact, no intermediary can give such a guarantee.

Fraud lawyers advertise themselves with contextual advertising, register under several names at once, create single-page users and all with only one purpose – to lure money. Without exception, all work on a prepaid basis, they promise to help even if the broker is not to blame, and when they receive a prepayment, they evaporate.

More sophisticated and immoral, work according to the scheme without prepayment. They promise to return the lost money for 10% of the amount. Refunds are supposedly withdrawn to the accounts of European banks, while scans of supporting documents from Photoshop are sent to the client.

Representatives of the bank call the trader, inform about the receipt of money and offer to pay a small commission for the transfer to the Russian account. Everything seems convincing and natural, the trader is glad that he will receive the money and is ready to pay any kind of commission. The result is obvious. To the lost amount on binary trading, money is adorned, decorated with another scammer.

Remember the simple truth. European banks do not open an account in the name of a client without without his presence or notarized power of attorney. Commissions, taxes and other payments when transferring funds from a foreign account are written off independently at the time of the transaction. There is no need to pay anything special!

Who will help return the money?

Refer to verified companies registered in the country (check registration by TIN). Keep in mind that units of experienced lawyers are involved in refund procedures for traders. Other lawyers value their reputation and do not want to have anything to do with the financial market.

If you are lucky to find a reliable company or private lawyer, keep in mind that the return procedure always starts with a statement of claim to the bank, and not with an advance payment. Work with those who are ready to receive money for the result and do not guarantee 100% success even in simple cases.

Summary

There are chances to return the money lost on binary options trading if you know the intricacies of the procedure and find a trusted assistant. If money is lost as a result of mediocre trading on the platform of an honest broker, the chargeback procedure loses its meaning, there will be no return.

TRADE OPTIONS

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

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