Been scammed in the foreign exchange market?
It’s not your fault. And you can recover your funds. Our experienced UK lawyers are here to fight your corner.
Our services
How Forex scams happen
-
They know who to go after
-
They use complex terms to confuse you
-
They make it feel urgent
Types of Forex scams
Unregulated brokers
Start your claim
Regulated brokers
Scammer tactics
Start your claim
WRS are here to help you
Why choose WRS?
Supporting you is our priority. That’s why we provide personalised plans and care around the clock to our clients.
-
Personalised plans
Get a bespoke recovery programme for personalised support and the most cost-effective plans.
-
Care around the clock
Being a victim of fraud can be devastating. We offer expert guidance and support when you need it.
-
Regulated and reputable
Access ethical, transparent, and secure support from an SRA-regulated firm.
Meet the specialists by your side
Recovering over £50,000,000 for clients like you
We’ve recovered more than £50,000,000 for our clients over the past 3 years. It’s thanks to our team of solicitors and recovery claim specialists who trace and recover the investments you’ve lost from scams. Plus, we offer a no-win, no-fee service. You won’t pay a thing unless we recover your money.
-
Josh Chinn
Co-founder and Solicitor
Josh is a fully qualified solicitor who graduated from the University of Liverpool with a 2:1 in his LLB degree. He has recently been shortlisted as Young Lawyer of the Year 2024 as well as being shortlisted in two categories in the North West Leadership Awards.
View biography -
Richard Irving
Co-founder & Head of Operations
Richard is one of the co-founders of Wealth Recovery Solicitors, Having an extensive background in residential property , He has developed and owns companies that have covered all aspects of property from land acquisition through planning and development right through to sales and building portfolios.
View biography -
David Jones
Director & Owner
David is consistently ranked in the Legal 500 for his tenacious problem solving and business acumen. Having been called to the Bar in 2006 and following a stint as an in-house lawyer in London David cross-qualified as a Solicitor in 2009.
View biography -
Aaron Levin
Chief Operating Officer
Aaron has vast experience in the COO role, with a background in different areas such as the medical industry and hospitality.
View biography -
Nick Johnson
Head of Compliance
A proud past President of the Manchester Law Society, as well as a former Managing Partner of Glaisyers Solicitors & Chairman of the Board Corpus Christi Catholic Academy Trust, Nick brings with him a wealth of experience in his role as Head of Compliance.
View biography -
Liam Ben Ari
Head of Crypto Investigations
Joining WRS’s Cryptocurrency Investigation team, Liam has always had a keen interest in the Metaverse, in particular NFTs.
View biography -
Nic Roe
Solicitor
Nic joined WRS in August 2021, and after impressing with his fee earning and excellent results for clients was rewarded with a training contract in February 2023. Nic continues to run his own case load and help those who have been a victim of a scam get their money back.
View biography -
Hafsa Khan
Trainee Solicitor
Hafsa completed her Law LLB Degree at the University of Nottingham, achieving a 2.1 before completing her LPC LLM in Manchester.
View biography -
Kieran Barrow
Trainee Solicitor
Kieran graduated from Newcastle University with a 2:1 degree in Law and has since completed a combined Master’s with his LPC in Law, Business, and Management.
View biography -
Abigail Hurley
Paralegal
Abigail graduated with a first class BA Honours degree in English Literature at Newcastle University before going on to attain her Master of Laws in Manchester.
View biography -
Ben Walton
Paralegal
Ben graduated with an 1st Class LLB Law Degree from the University of Durham in 2024.
View biography -
Caitlin Blood
Paralegal
Caitlin completed her Law degree at the University of Durham, achieving a 2:1 overall.
View biography -
Daniel Barlow
Paralegal
Daniel graduated from Lancaster University with a 2:1 degree in Law, and has since gone onto complete the first part of his Solicitors Qualifying Exam in 2023.
View biography -
Elisa Syal
Paralegal
Elisa graduated with a first class BA Honours degree in Politics and Criminology at the University of Manchester.
View biography -
Ellie Barnes
Paralegal
Ellie graduated with First Class Honors in Law from the University of Leeds and is set to begin her SQE studies next year.
View biography -
Hannah Daw
Paralegal
Hannah completed her degree at the University of Durham, achieving a 2:1 in her LLB programme.
View biography -
Luke Caldwell
Paralegal
Luke graduated from Liverpool University with a 2:1 in Law and went on to work at firm working in Civil Litigation, specialising in Credit Hire.
View biography -
Sophie Grundy
Paralegal
Sophie joins WRS, after spending the initial stages of her legal career at a well known firm in Liverpool.
View biography -
Avi Chinn
Head of First Response
Avi has a successful background in sales and marketing and has worked across a range of sectors from tech to marketing, including working for global leading tech firms such as Google.
View biography -
Jonathan Franks
First response team
Jonathan brings a unique blend of expertise in banking and finance to his role at WRS as part of the first response team.
View biography -
Joseph Chinn
First response team
Joseph joins WRS as part of the first response team, Joe is responsible for dealing with new enquiries and is tasked with the important role in helping clients really find out where their hard earned money has gone and discuss with them a potential gameplan and what WRS can do to help them out of an awful situation
View biography -
Sarah Walker
First response team
Sarah graduated from the University of Huddersfield with a 2:1 LLB Law Degree and went on to work in Criminal Law.
View biography -
Tom Higginson
First Response team
A sales and financial market expert, Tom brings a great blend of qualities and experience to the First Response team here at WRS.
View biography -
Eleanor Taylor
HR
Eleanor is a HR specialist who brings with her a wealth of experience in HR and people management.
View biography -
Mark Montaldo
Consultant Solicitor
Mark is a solicitor with 15 years of experience in ligitation and dispute resolution. During the early years of his career, he dealt with complex personal injury matters, with a focus on multi-jurisdictional litigation.
View biography -
Thomas Blanchfield
Consultant
Thomas is an accountant by trade and has held numerous senior positions in several large law firms, most recently as Finance Director.
View biography
Frequently asked questions
-
Is Forex trading legitimate or a scam?
Forex trading is a legitimate form of investment, but scammers frequently exploit it. While many traders and platforms operate legally and ethically, others use the complexity of the Forex market to trick people out of their money.
Be cautious of anyone promising guaranteed profits, high returns with little risk, or pressuring you to invest quickly. If something sounds too good to be true, it usually is.
-
Why are people becoming victims of Forex trading scams?
Forex trading has become popular as people look for ways to grow their money. However, many new investors aren’t familiar with how scams work. Scammers exploit this, using slick advertising, easy-to-use trading platforms, and friendly sales tactics to build trust.
They often promise fast profits or guaranteed returns and may ask you to keep investing more. Usually, they operate through unregulated platforms, which makes it easier for them to vanish with your funds. The lack of regulation and the rise of fake or cloned brokers are major reasons for the surge in scams.
-
How to avoid Forex trading scams?
Below are ways you can stay protected from Forex trading scams:
- Avoid unregulated brokers: Always check if a broker is authorised by a financial regulator like the FCA (UK), CFTC (USA), or ASIC (Australia).
- Be sceptical of guarantees: No one can guarantee profits in trading.
- Don’t let others trade for you: Scammers often ask for access to your account or offer to trade on your behalf—this is a red flag.
- Only invest what you can afford to lose: Be cautious, especially if you’re new to trading.
- Do your research: Look up the broker’s name online, check for reviews, and confirm their regulatory status. Keep up to date with common scam tactics.
-
How do I know a Forex trader is regulated?
Start by visiting the official website of the regulator relevant to your region (e.g., FCA, CFTC, or ASIC). Use the broker’s registration or license number—usually listed in the website’s footer—to verify their status. If the number doesn’t match or the firm isn’t listed, it’s best to steer clear. You can also look for warning lists issued by regulators highlighting known scam platforms.
-
Who regulates Forex markets?
Several major financial authorities regulate Forex trading across different regions:
- FCA (Financial Conduct Authority) – United Kingdom
- CFTC (Commodity Futures Trading Commission) – United States
- ASIC (Australian Securities and Investments Commission) – Australia
- CySEC (Cyprus Securities and Exchange Commission) – Europe (within MiFID standards)
These regulators enforce rules to protect investors, and trading with a regulated broker gives you greater recourse if something goes wrong.
-
What to do if I have been subject to a Forex broker scam?
Firstly, we’re sorry you’ve experienced this—it can be distressing, and you’re not alone. If the broker was unregulated, recovery can be more difficult, as these scammers often leave little trace. Our legal team at Wealth Recovery Solicitors offers free consultationsto review your case and advise on possible next steps.
If you were scammed by a regulated broker, there’s a stronger chance of recovering your funds. Our experienced solicitors can investigate the trading trail, build a case, and pursue compensation on your behalf. Get in touch today—we’re here to help.