He did not know, newbie mistake and anyone could fall for it.
Dudes. Why persist with giving the OP a rap over the knuckles. Trust me: he feels bad enough about this. And sure doesnât need the âJohnny Come Latelyâ advice as to what he SHOULD have or COULD have done. The only applicable advice here is how to go about doing his due diligence when selecting his next broker which some have posted about at the beginning of the thread.
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Oh; I see! New traders always need to start with a small amount!
I agree. Starting with a 10K account is like giving a new driver a Lamborghini Aventador SVJ to daily drive.
My dear this is a common and most important factor that must be considered before you select brokers. It happened once with me but due to my ranking and perforamance inthat broker i got my money back dispite in my other account. Thats why all experts suggest tested and tealiable with user friendly brokers so that such unwanted incidents can be stopped. Expert IBs cate all of it. Do not hoin any broker with out any key knowledge its weak points and teputation and sustitute methods. If one fails you can use other to save. Thats why i also suggest forex freedom brokers are recommanded.
Thatâs the point mate; starting with a big amount means nothing; a decent start is essential here!
I am open to share my experience and to also enlighten everyone on how i was able to recover my money from a scam broker .
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Thanks for the review , i need help my broker has not responded to my mails and phone calls .
Go on then !
In open forum - if your intentions are in any way benevolent !
My first introduction to forex was through a friend who knew a âtraderâ. We gave him our money and he told us we will get 35% every month for a year. We had no fears since he had been doing this for three (3) years. He was a millionaire and a pastor who was well known for his humanitarian deeds. Six (6) months in, he closed up shop and left the good ole USA.
Reeling from that, I decided to learn how to trade forex and feel into the hands of another one who was selling a software-SPI 3.0v. He also said that we could invest our money for one (1) month to take off the pressure while I learnt how to use the system. Once he got the money, we stopped hearing from him
Alex, just mentioning this area of the forums. Youâre not alone, sadly.
Traders get scammed all the time, check the brokers section right here on Babypips and youâll see.
Hi Alex. Did you ever get your money back?
Hi there
Have you been able to recover your money?
Hi Isaac
Were you ever helped?
Your bank will still take your money back on the card that you used to put down your deposit,even if the card is out of date.My bank told me they can do that,even if the card is blocked.!I think you should have a talk with your bank,s fraud department.Best of luck James
Frankly, I have never been scammed in the forex market because my mentor told me not to fall prey to the deals that seem to be very good. It worked since I have been avoiding offers that guarantee success. Looks like you trusted someone who wasnât worth it.
Well, luckily I never encountered such a problem and one of the main reasons has been that Iâm very clear to trade with only the licensed and reliable brokers. With them, I know that my funds are secure. In your case, you need to make sure whether your broker is licensed and if yes, contact their customer support team.