I created this thread to help all of understand how to deal with your broker when they refuse to pay you your money.
Note: Allow at least 30 to 60 days before screaming SCAM.
Question: What are forex brokers and other online financial institution afraid of?
Answer: Their online reputation
Whether you are trading with a regulated broker, an offshore broker or an unregulated broker, you should always use their fear against them when there is trouble.
I have been reading ForexPeaceArmy lately and discovered how brokers respond to complains from their clients. They know that the moment FPA flags the company as scam, it will affect them greatly. Trust me, a broker would rather pay a fine than allow its name go public as a scam company.
Some say if you use a regulated broker, you can complain to the regulatory bodies, true, but in the end the broker get’s fined and case closed. This is why the broker will be brave enough to repeat the same shady practice again. They are willing to pay a fine.
Note: Do not trade against the brokers terms of service and scream scam when they seize your profits, You are no different from a thief.
Therefore, the next time you have a problem with your broker, do not only go to the regulatory bodies (Time wasting), Threaten the broker to go to FPA and forums about the situation. If the broker does not respond favorably, BE READY TO GO LIVE. If they hurt you badly, YOU CAN HURT THEM TOO.