With the popularity of digital trading becoming more and more popular in recent years, this has unfortunately led to a rise in the number of harmful scams being used by criminals, targetting individuals who are new to the industry and markets to take advantage and steal their wealth. Whilst there are some red flags that you can usually spot with these scams, there are instances where you fall into the trap – when this happens, it’s vital that you have the right information and the best legal support available to help you reclaim your money as quickly as possible.
Forex trading scams are aimed at traders looking to make use of the foreign exchange market – this is a legitimate market used for trading different international currencies, which can make it difficult to spot scams from the real tools, platforms, and wallets that you’d be looking to use during your activity.
For more information regarding forex trading scams and our wealth recovery solutions, you can read on below or get in touch with a member of our friendly, experienced, and fully-qualified team today.
Does this sound like you?
If either of these scenarios sound familiar, please fill in the form below and let us see if we can help get your money back.
5 Star Service & 5 Star Honesty
I traded FOREX for years and thought I was doing pretty well. Then I saw a new trading firm online and it looked like I could do super well. I lost a bit and then some.I talked with this law office and after hearing everything I did, they were honest to tell me that because of the way I paid the scammers, my money was gone forever. I was surprised because I spoke to a few other recovery people and they promised again and again they could get my money back.
It sucks to hear that my money is gone but I guess I’d rather hear the truth and move on and not get scammed again by a fake recovery company.
They are lawyers, not scammers!
I contacted lots of these so-called “recovery companies” that I found online and I just got a creepy feeling. I didn’t feel like they were that interested in hearing the details of what happened to my wife and me but they were very pushy about signing me on and getting my money.
I decided (wisely) to work with Wealth Recovery Solicitors after reading their website. They are lawyers and know what they’re doing.
They got just about all of my money back for me and I would recommend them highly!
Top Service & Very Honest
I was first browsing around to see if any firm can recover my money. I came across this company WRS. Their service is speedy and at top quality and they are very honest.I was first contacted by Jay who asked me some questions before they can even tell if my money will be recoverable. Then I was passed onto Josh who did an investigation with my case at a reasonable and fair price.Although my funds weren’t recoverable I’ll rather hear the truth and hopefully I won’t get scammed again. WRS definitely know what they are doing and the team were very polite and great. Keep it up WRS!!!
What is a Forex trading scam?
When it comes to Forex, scams can happen at any time – many of these attacks can be very specific and incredibly sophisticated, meaning that only the most observant of eyes are capable of spotting the dangers. When you’re trading on the Forex markets, you’ll likely be using a number of platforms to do so; these platforms can offer functions such as access to markets or wallets to store your assets in, making them a vital part of the overall trading process. Unfortunately, not all of the platforms that you came across will be legitimate – it’s these scam platforms that will present the danger to you and your wealth. When you put your money into a scam platform, there’s a good chance that you’ll never see it again, which is where our services become crucial. With the help of our expert team of solicitors, we’ll be able to investigate losses of wealth, contact banks or wallet platforms on your behalf, and ensure that your money is returned to you in full as soon as possible. When making Forex trades, the important thing to remember is this: if it looks to good to be true, there’s a high possibility that it’s a scam. Always remember to do your research, investigate platforms, and ensure that you’re working with trusted, regulated companies before giving away your details or engaging in trading activities.
Wealth Recovery Solicitors can help you to reclaim your money
If you’ve been the victim of a Forex trading scam, it can be easy to feel helpless about your situation. Having been scammed, you may assume that there’s no way to claim your money, but thankfully this isn’t always the case – the team here at Wealth Recovery Solicitors have decades of experience in the legal sector, handling major cases for a number of entities, from multi-million pound companies to individual claims – no matter how big or small the claim is, we’re committed to providing our clients with an effective, personal service that gets the best results possible.
With the personal nature of these situations, we pride ourselves on our discretion; your details will be kept safe and confidential, enabling you to keep things as quiet as you’d like for the duration of your wealth recovery process. Our wealth recovery services are no win, no fee, meaning that you’ll only ever have to pay out if your wealth recovery is successful – if we aren’t able to reclaim the money lost during a Forex scam, you’ll be able to leave free of charge.
To start the wealth recovery process with our specialist team here at Wealth Recovery Solicitors, you can fill our or contact form right here on our website.
Can Forex trading be a safe activity?
The Forex market is a decentralised trading market where the world’s currencies are traded on a global scale. It is a legitimate market that determines foreign exchange rates for every currency in circulation. Access to the market is easy with significant leverage opportunities and relatively low costs. Because of the ease with which you can enter, many newcomers will join the market but then quickly exit after experiencing losses and setbacks. If you are in this position, our law firm is regulated by the Bar Standards Board and is dedicated to helping clients recover their losses. Remember, just because Forex is easy to get into doesn’t mean it’s simple to navigate, and there are plenty of scammers ready to take advantage of inexperienced traders wanting to enter the market.
Scammers take advantage of the complexities of the market, withholding important information about market realities from their unsuspecting victims, and claim that their scheme, advice or software will bring success. To prevent getting scammed whilst trading, it’s important that you take the time to understand Forex trading.
- Do your research: As Forex is a complex market, it is important that you don’t go in blind. Learn the rules and risks of Forex trading prior to entering the market.
- Set achievable goals: Understand that trading isn’t a get-rich-quick scheme and, therefore, setting an achievable financial goal and timeframe will allow you to better manage your point of entry and exit trade strategy and avoid jumping in when a high-risk deal appears.
- Use a reliable trade broker: Finding the right Forex broker is half the battle when it comes to trading. Make sure the company or individual you choose is reputable with plenty of good reviews and recommendations. It’s also important that their customer service and style of working suits your style if the relationship is to work well long term.
The most important rule to remember to stay safe when trading is that, if it looks too good to be true, then it’s more than likely a scam. It’s important that you remember to do your research, investigate the best trading platforms to use, and ensure that you’re working with regulated companies before giving away your details or engaging in trading activities. Here at Wealth Recovery Solicitors, our experienced legal team are at hand to help with any queries you may have in relation to Forex trading and recovering losses.
What are the most common scams in the Forex trading industry?
Scammers use many different sophisticated techniques to steal money from and scam unsuspecting traders. Here are some of the most common:
Signal seller scams
Signal sellers are companies that suggest the best time to buy and sell currencies based on what they claim is market analysis, charging investors a fee for this information. However, scammers have taken advantage of this, claiming to have legitimate intel and promising high profits, but then never sharing any market information or simply disappearing with the investor’s money.
Forex robot scams
A Forex robot is a type of software that automates the buying and selling of stock for investors. Legitimate Forex robots are tested and reviewed by an independent body. However, some illegitimate companies sell fraudulent, untested software that trades at random and could cause investors to lose money or make misguided decisions based on unsound data. This is why it’s vital that you do your research before you begin trading.
Forex broker scams
One of the most common types of Forex scams is the fake broker. These criminals pretend to be legitimate Forex brokers or investment platforms to trick people into investing in non-existent Forex funds. When choosing a broker to work with, it’s important that you check the FCA register and use only the companies and the contact details listed there. To find out more about fraudulent brokers, we go into further detail on offshore scams here.
You’ve probably heard of a pyramid scheme already. A Forex pyramid scheme focuses on recruiting new investors into groups that claim to offer advice and data that help them make successful Forex trades. These groups will often charge a subscription fee and the promise of commission when their members recruit new investors. Again this is a scam, the money comes from membership fees rather than investing and once the membership levels drop, the owner will disappear with the money.
To spot Forex scams early, look out for anything that sounds too good to be true, as it probably is. There is no such thing as a ‘risk-free’ investment and always be aware of unrealistic returns that companies will offer you. Another thing to remember is that If you’re contacted out of the blue about a Forex investment opportunity, it’s likely to be a fraudulent scheme. Never give away your personal information or transfer money without checking the FCA register first.
For more information on avoiding Forex trading scams and our wealth recovery solutions, get in touch with a member of our friendly, experienced, and fully qualified team today.
“I am so grateful to WRS, they recovered 90% of my money within 2 weeks of me reaching out to them.
They completely understood that I had very little faith left after my experience, and took time to explain everything and reassure me.
Can’t praise them enough.”
— Brian Williams
“Great firm to deal with, Josh was incredibly professional he managed to recover funds from an online scam before I had to break the news to my partner, Thank you.”
— Harry Davenport
“On the very same day that I reached out to these guys on their website, Joshua contacted me not only by email but also by phone.
He was patient and let me explain the entire nightmare of how I started investing with a known trading firm and ended up losing just about every pound I had.
I’m talking about a life changing loss!
I decided to take their help and all I can say is that I have My money back in MY account!!”
“Very Responsive and Very Effective On the very same day that I reached out to these guys on their website, Joshua contacted me not only by email but also by phone. He was patient and let me explain the entire nightmare of how I started investing with a known trading firm and ended up losing just about every pound I had. I’m talking about a life changing loss! I decided to take their help and all I can say is that I have My money back in MY account!!”
“I decided (wisely) to work with Wealth Recovery Solicitors after reading their website. They are lawyers and know what they’re doing. They got just about all of my money back for me and I would recommend them highly”