Types of Scam Broker Complaints

Introduction –

There are two possible reasons as to why you are reading this. Either you have been scammed by a scam broker who stole all your money under the pretext of fake promises or you are doing your bit of research before investing your money with a brokerage firm. Scams are as common in the trade market as profits. With the trade market earning a lot of fame due to the huge profits and trades being conducted every day, the share of scammers and cybercriminals entering the industry to rob people of their hard-earned money has also increased. Whether an experienced trader or a beginner, anyone can fall prey to the clever tricks of these scam brokers. The main aspect to ensure before giving your money to a brokerage firm is to check whether the company is regulated by a legitimate regulatory authority. 

If you face any issue with the brokerage firm and the company has a license from any legitimate regulator, a complaint with the regulator will help you get back all of your funds and a compensation fee depending on the severity of the complaint and the issue. However, if you are facing issues with your brokerage firm and the company is not regulated, this is where the trouble begins. 

Do not worry! We are here to shoo all your troubles away by providing the best solution delivering facility. With experienced traders and complaint analysts, our team analyses and investigates each of the complaints and brings to you the best possible solutions for easy fund recovery.  

Different types of Scam Broker Complaints:

There is a wide variety of complaints that fall under scam broker complaints. Be it withdrawal complaints or credit card chargeback complaints, we have a solution for all. Read on to know in detail about the different types of scam broker complaints. 

Withdrawal Complaints:

One of the most common ways through which scam brokers steal the money from the traders is by not processing their withdrawal requests on the pretext of lame excuses. Even though the company may show that you have earned a lot of profits and that your money is safe with them, this may not be the reality. If your brokerage is giving you excuses every time you request a withdrawal, you can do this.

Contact your bank support or the credit card company immediately and let them know about the situation. File a complaint and request for a chargeback with them. If you are trading with a regulated brokerage firm, this should be enough to get your funds back. However, if you are dealing with an unregulated brokerage firm, there is not much that your bank or credit card company can do. 

Withdrawal of your money from a brokerage firm requires much more steps than that of depositing money. You may have to verify your identity to withdraw the needed amount. In such cases, one must always make sure to send the required documents and details to the correct email address. You must never reveal the details to random people on call even if they claim to be the broker assigned to you by the company. 

CryptoCurrency Complaint

Cryptocurrency deposits are considered the most problematic as they have the unfortunate benefit of untraceability. Therefore, the chance of recovering the crypto coins that you have invested with any unregulated brokerage firm is very low. The untraceable property of crypto coins is put to bad use by these scam brokers. These cybercriminals will coerce you to convert your hard-earned money into cryptocurrency and then steal with no remorse. Various brokerage firms that we investigate and publish reviews on are seen to accept deposits only in the form of cryptocurrency.

Profit Tax Complaint

Whether you are an experienced trader or just a beginner in the trading industry, you must be aware of the fact that no brokerage firm can ask you for tax payment on the profits that you have earned on the money that you deposited with the company. If your brokerage firm is doing that, you must know that they are trying to extort more money from you through these cheap tricks. You must always check as these brokerage firms never reveal such information beforehand.

Personal Broker Scams

If you have been investing in the trade market or are looking forward to doing that, you might have received various calls from seemingly kind people telling you the benefits of investing with their brokerage firm. In some cases, these people may also tell you about a plan in which personal brokers are assigned to you who will do the trading and investing for you. All the customer has to do is deposit the money. This is a huge scam! You must know that such brokers get their profits when their customers lose a trade. Due to this very reason, these company-assigned brokers may never really help you out or work towards your profit.

AI Software Scams

Many of you might have stumbled upon advertisements of brokerage firms that guarantee daily profits and automatic trading facilities. These are yet another sign of a scam. Unregulated brokerage firms commonly use this technique where AI does all the trading for the customers. Although some of the trades might get you profits, there is no guarantee that the AI is used by these companies and certified by experts. Therefore, this poses a great risk to the customers and their hard-earned money.

Bonus Scams

Bonus Policy scams are yet another dangerous type of scam that lures people into it and make their debt ridden. Many customers get attracted to the huge bonuses offered by unregulated brokerage firms and deposit their money with the fraud company. What they ignore is to go through the bonus policies of the company. Most of the unregulated brokerage firms have policies that only allow the customers to withdraw their bonus only when they have traded a value 50 to 60 times bigger than the bonus provided to them. This yet again pushes them into the vicious cycle of withdrawal issues, ultimately leading to withdrawal complaints.

How can we help?

We, at All Scam Reports, function with the sole motive of helping the scammed traders in retrieving their money. What do you have to do? Nothing at all, just fill the form given on our page and file the complaint. Our panel of experts and investigators will look into the matter and test the legitimacy of the complaint. Once all of it clears, we will get in touch with you and offer you the best solutions for fund recovery available in the market. What are you waiting for? File the complaint and teach the brokerage firm that cheated you a lesson.

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