One of the most common problems faced with trading scams is how carefully the scammers are when it comes to appearing legitimate – whilst the first trading scams would now be identified by most quite easily, modern scamming techniques are far more sophisticated and much tougher to avoid. Unfortunately, this does mean that there are more instances in which the scam is successful, leading to innocent people losing their money at the hands of criminals. To help put an end to this lost wealth, the team here at Wealth Recovery Solicitors is looking to offer, support, guidance, and action on your behalf, giving you the information and backing you need to reclaim your money as quickly and efficiently as possible.
Wealth Recovery Solicitors is a specialist legal entity focused on reclaiming the losses in wealth during trading scams – as the only regulated firm in this industry, we ensure that our clients are treated with the highest level of service possible, maintaining a fantastic level of professionalism, confidentiality, and assurance throughout the wealth recovery process. Our team operates on a no-win, no-fee basis for wealth recovery cases, ensuring that you won’t be left with a daunting sum to pay before being handed your reclaimed funds.
Read on below to learn more about the CFD scams that you may face and our process for recovering your stolen money.
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.
WRS were a marvellous company to deal with …
WRS were a marvellous company to deal with. I had lost my money to unscrupulous forex company a year before I contacted them. They were able to achieve a return of some. Very efficient and understanding team to work with. Thank you so much Josh and Simon.
I was thoroughly impressed with the service
I was thoroughly impressed with the service provided by WRS. They understood exactly what my needs were and helped me recover the money I had lost to fraudulent websites. I would fully recommend the team at WRS, particularly Josh Chinn who was instrumental in assisting throughout the process.
Recovery of crypto
Approaching WRS I really did think I had no chance of ever seeing my money again. So many people had told me that because I had transferred to the scammers using crypto it was gone forever. Using their legal expertise and in particular Josh Chinn’s advice and tactical excellence I recovered the vast majority of my money back. Still can’t believe it. Fully recommend WRS.
How are you targeted by CFD trading scams?
CFDs, or contracts for difference, are fantastic investment opportunities and trading materials that help you to calculate the profit/loss margin that you’ll be making between your opening value and your closing value – this is essentially the money that you’ll have made or lost on a trade, which is a fantastic thing to be able to track and predict whilst trading. Scams in this industry tend to be from criminals or unregistered entities acting as legitimate CFD brokers. These will be platforms that have the appearance of a reputable, trusted entity, however, they are for from it – once your money enters the system, it will be lost and stolen, meaning you’re left with a loss of wealth due to the scam.
Scams aren’t the only way that you can feel the sting of unregulated CFD brokers – with no regulation, standards are likely to be incredibly low and service quality will probably be very suspect, which is why we’d advise that you avoid these companies and their platforms at all costs.
Reclaiming your money with a trusted, regulated wealth recovery solicitor
Here at Wealth Recovery Solicitors, we’re on a mission to take the sting out of trading scams – with the help of our respected, experienced, and most importantly, regulated team of solicitors, you may be able to recover some or all of your lost funds, which is sure to be a relief following on from the traumatic experience of being scammed. If you’d like to learn more about our wealth recovery process, which can happen in a variety of different ways depending on the exact situation – for example, a charge back may be able to resolve situations where you have completed a transaction with an unregulated broker – get in touch with us today. To make things as easy and discreet as possible, we’ve set up an online contact form that allows you to explain your losses and specify a day where you’re able to talk privately about your concerns. We always aim to ensure that our clients feel comfortable and protected during their time with us, which is why we offer full confidentiality to all clients, including direct contact at a time and date that suits you. Once you’ve completed our contact form, our team will assess your concerns and look to find the best possible solution for reclaiming your lost money, but you’ll be kept updated with regular contact during the process and you’ll be able to contact us directly by phone, giving you peace of mind and clarity throughout.
“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”
“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!!”
“Josh and his where great highly professional easy to approach and managed to help me recover a lot of money. couldn’t recommend him and his team enough. I had clear and honest communication no fluff i understood everything.”
“Dealing with WRS was a pleasure, not only did they recover monies, Josh and the team were always approachable and extremely professional and empathetic towards my situation- highly recommend..”
— GIG Movement
“Of course after being scammed I was so reluctant for this to happen again, this is a legitimate Law firm that are properly regulated and are absolute experts in the field of recovering lost funds in the investment realm. The whole team was professional and led by a very polite and innovative Josh Chinn. Thanks once again WRS and team.”
— Kim Henry
How do I know if my broker is a scam?
If you are concerned about a potential CFD broker being fraudulent, there are several red flags you should look out for. These companies make money, essentially, by using various means to get you to lose yours. They will represent themselves as experts, as advisors, but in reality, their ‘expert investment advice’ will be targeted towards getting you to deposit more and more into your trades even if they’re heading south. These types of scams tend to run on misinformation, such as promises that the market is ‘set to bounce back’ or that certain trades are ‘sure wins’, when the truth is that these brokers are banking on your eventual loss.
Identifying companies like this, that don’t have your best interest at heart, is becoming increasingly harder to do as, nowadays, scammers are more sophisticated than ever. While the market is slowly becoming more regulated, there will always be unscrupulous brokers trying to slip through the net. These CFD brokers will often use offshore regulation to try and appear legitimate. These firms will typically set up their businesses abroad – Cyprus being a popular choice due to its low corporation tax and relative ease for which you can obtain a regulated licence for financial services – register there, and then be passported into the UK’s Financial Conduct Authority (FCA) register as a seemingly legitimate enterprise.
Fraudulent brokers, such as Investous, Tradeo, and Trade360, have done exactly this – meaning that, when UK clients are researching the trustworthiness of a potential broker, these firms will appear to have been vetted by the FCA or another regulatory body, which is then taken as confirmation. The FCA has announced a crackdown on these tactics to prevent UK investors from being lured into offshore scams. As such, the FCA is making it more difficult for Cypriot and offshore firms to passport in this way.
Other brokers that, despite all attempts to appear legitimate, such as fake 5-star customer reviews and social media campaigns, are known to be operating offshore scams include:
- Vantage FX
- City Index
- ETX Capital
If you have been contacted by any of these companies or suspect you have gotten involved with a scam broker, the team at Wealth Recovery can help. We operate on a no-win, no-fee basis and will advocate on your behalf to help you retrieve your funds. Our contact form takes just a few minutes to fill out for a free consultation – we ask you to describe the nature of your concern and to name the online trading platform used – then a member of our team will assess your case and get in touch with you regarding the best course of action to successfully get your money back.
How do you know if you’re being scammed?
In a lot of instances, inexperienced traders can be the victim of a scam without even knowing it’s happened. There are several things to look out for if you think you may have fallen victim to a CFD trading scam.
- If it sounds too good to be true, it most likely is.
- Cold calls are definitely something to be wary of. If you get a cold call from a pushy salesperson, it’s an immediate warning sign. Legitimate brokers do call new clients to welcome them to the service so not all calls from CFD brokers are a scam, but you will never be contacted without approaching a company beforehand.
- If there is no risk warning on their website or online adverts, avoid them. There is always a level of risk in trading and any reliable broker will make this clear.
- The regulatory bodies that the broker is affiliated with – one being FCA regulation for those trading from the United Kingdom. Even though being FCA regulated is no guarantee something isn’t a scam, it’s a good place to start your online due diligence
- Unusual regulations on withdrawals. Unregulated brokers or scam brokers will often make it easy for you to deposit funds but write unnecessary policies into their user agreements to make withdrawing funds difficult or impossible.
If anything doesn’t quite feel right, or any of the above situations sound familiar to you, get in touch with our team today. At Wealth Recovery Solicitors, we are focused on reclaiming fraudulent losses in wealth during trading scams.