I think there is completely no chance to get your money back from scam broker. Their main idea is to rob you, and they want to get as more as possible victims. You must be very patient and carefull before choosing broker. Cause it’s only yours fault if you work with scam broker. I can only advice to use some scam brokers list, like Unregulated Forex Brokers List 2018 to advoid swindlers.
1 Like
It depends on the regulations here. If the the Regulators are reputable and serious then there is a chance to get at least part of the money back. If there are no regulations or they are offshore, then yes, the odds are zero.
Hello. Was just scammed by excess. This is one of many sites I am linked to. I requested 3 withdrawals. 1 for profits and 2 refunds. I was given the profit withdrawal because that was less money. And the others that were refunds of my own money of 400 and 50 dollars, there was an issue. My bank is not seeing any signs of the money coming back to my account.they say take some arn number to my head office branch. When I called my bank no one has ever heard of arn number. I will be informing every site about their scamming ways until I get my money back
1 Like
Exactly. If the broker is some fictional company supposedly registered on an island somewhere they are long gone with your money, unfortunately. And there are an awful lot of such bucketshops out there.
1 Like
i think regulated and reputable brokers are not scam , they are registered with any regularity body from where you can claim you any financial issue. But scam brokers are not registered It is quite difficult to get back your money because they are not fair not use fair methods to facilitate their clients for any issue related to funds.
Do you real the number of lawsuit against the regulated brokers. It is hard to differentiate them from none-regulated brokers these days. Some of them just want to cheat us traders at any means.
regulated brokers dont give a poopoo about little pennies from retail traders. what is 10 or 100k to them.
In case a broker is not registered or licensed. How do I which know the Authority that licensed their business please?
Thank you
Kind regards,
Floxy_biz1
I have a long story with trading and recovery as well. In the past, I had opened a few trading accounts with different brokers. Among them were IQ Option, BdB, TeleTrade, and few more. Unfortunately, ALL of them staged themselves as SCAM. The story of investments, trades and attempts to withdraw repeats itself from a broker to broker. Will say right away, I ended up losing over 150k. After I had gained a “trading” experience, I’ve opened a new page in my life, trying to recover at least part of my money. For that part, I wasted 1,5 years, lots of money (again!!) and fruitless outcome. Chargeback didn’t bring any positive replies from the bank since I had all my trading account verified. “REcovery experts” didn’t help either. By the way, beware of “Dellwoods”, “Mychargeback”, “Chargeback Pro”…
Anyway, I had found the company, called Scamconsulting SCC, registered in the UK, who, eventually helped me to get back a major part of my investments. Wouldn’t say that everything with 'em went smoothly, but as a result, I finally could see my money on my bank account.
3 Likes
Following this
honestly speaking i have never seen a guy who lost his money by scam broker and again got the money. may be its impossible.
IQ Option and TeleTrade seem to be based in Cyprus. That’s enough of a bad sign immediately.
BdB Group appear to be B2B insurance brokers, if I have the right company. They don’t seem to be forex brokers for private retail traders in any way. Maybe there is another BdB?
BDB as Banc De Binary.
The platform is shut down since 2016
Thanks. So you traded forex with two Cypriot brokers and a binary house. Was the outcome ever in doubt?
Am I the only victim of those?
Funny, how you, Tommor consider those fact now, When everybody is aware. Take yourself back to three years time and I promise you, you’d be same naive as I was.
I can promise you, I was never that naive. But if you were, that’s understandable - if you don’t know something’s wrong the best you can do is learn from it and move on.
But our intentions are alike, to warn less informed traders of the dangers of getting involved with these people.
I used to work with SCC, they did help me in recovering some funds from CobaltCode just within 3 months.
Hello Maxer,
Thanks for sharing your story. Could you give me more information about Scamconsulting company and how did they help you? I’m asking that because I have the same situation like you with TeleTrade and MarketsDOTcom. Amount of money is near 100k. So if you could give me some tips or what I have to do step by step I would really appreciate that.
Thank you and a lot of KARMA points for you 
Hello Irdi,
Could you give us more information about your recovering? Step by step would be really appreciate.
Have a nice day
Hi, aleksandras123
Gladly, first I had have filled out the contact form on their website.
A couple of days later received a call from a representative, he asked me few questions regarding my trading and deposit history, also I had to send print screens of my trading account since the broker blocked me and I could not provide with login and password.
And after that info was confirmed, I spoke with their lawyer, in my case It was Immanuel Skvorzov. He explained to me every possible way to retrieve the funds, including chargeback. Afterward, I needed to send them my docs in order to make a contract. The whole process took a few weeks until I confirmed the money was at my bank account.
If someone needs more details on my case, please contact me directly.