How to get the money back from the broker if you are engaged in trading, you may face a situation in which you need to withdraw money from the broker.
A similar question arises in two situations.
* Are you a beginner who was too fond of bids and used up all of my large Deposit. Such an outcome can happen for many reasons: the trader makes bets hastily, has little experience in this area, incorrectly analyzed the situation. The broker will not return the money, because the finances have already gone into circulation. All responsibility for the investment lies entirely with the depositor.
* You have started a cooperation with the company, conduct trading, acquired sufficient the amount you want to withdraw.
However, you can not do it: the account is blocked or the exchange cancels the operation. Appeal to the broker or to the support service does not work: employees do not want to answer letters, ask to pay fictitious taxes, threaten. In this case, the investor faced fraud.
How to withdraw money in this situation?
There are several scenarios.
Contacting the broker directly
On the website of the broker should be placed information on its license, the data on the controller, which is checked by the company and issued permit to work. Brokers who have been registered in Russia have the right to open an office in the country. In this case, it will be easier to solve the problem: to send an application with a request to withdraw money will not be difficult. In the letter, it should be noted that the trader intends to act actively and, if he refuses or ignores, will submit an application to the Executive authorities. If the company is foreign, send an e-mail to the broker.
The lack of reaction on the part of the intermediary will be a clear proof that he is not going to cooperate, although the trader tried to settle the situation.
Appeal to the regulator, the Executive authorities
If it is impossible to constructively solve the issue with the broker directly, the affected trader can apply to several instances to resolve the issue of withdrawal of money:
* to the regulator that issued the work license;
* the postal and telecommunications, involved in the search and capture of the crooks, hunted in the network;
* the Prosecutor’s office, if the cyber police refused to accept the application.
In any case, it is necessary to prepare and collect documents that indicate fraud and act as indisputable evidence of unfair work of the broker.
* a copy of the agreement on the beginning of cooperation;
* information about the broker: his license, work permit, certificates, any other documents confirming the activity;
* screenshots of correspondence with the broker, copies of e – mails indicating the broker’s unwillingness to cooperate;
* extract from the Bank card data on the transfer of money to the account of the exchange.
It is worth noting that the application process is very time-consuming and usually does not give the desired result.
In particular, low performance is observed in relation to exchanges that have foreign jurisdiction. However, traders can effectively use the fact of applying to state authorities in the preparation of documents for the implementation of chargeback.
Refund via Bank
Chargeback is the best option to solve the problem of return of money from the broker. There are several reasons for the effectiveness of the reverse payment in a situation where the intermediary refuses to withdraw funds.
* First, when registering a broker outside the Russian Federation, Russian regulators will not be able to influence its activities. Public authorities have the right to block access to the website for Internet users of their state, but will not return the blocked money.
* Second – it is very likely that you are not the only ones who have suffered from fraudulent actions of the broker, because the faster the steps will be taken to return the money, the higher the probability of the rightful owner to receive funds. Pseudopacket will try to quickly withdraw money in their accounts, in this case, only the international payment system will be able to implement a reverse payment.
What to do?
The process of initiating a chargeback involves several mandatory actions on the part of the trader.
Collection of evidence
We have already noted a list of documents to be submitted to swindled investors. Several more are added to this list:
* copy of passport, identification code;
* details of the Bank card from which the transfer was made;
* transaction date, time and amount;
* reasons why the trader applies to the Bank to challenge the transfer.
Filing of application
The application is written in the name of the issuing Bank, whose plastic card is used by the victim. Registration of the document is standard: the form is filled. It is desirable to write an application in several languages, including English.
The statement contains information on the reasons for the implementation of the reverse payment, a detailed description of the fraud with which the victim met.
A temporary refund
If the application is made correctly and good arguments are given by the trader, the international payment system begins to investigate the circumstances of the case. This period lasts from two to four months.
During the investigation, the Bank, whose client is the victim, can return the money to him. Funds are sent to the recipient’s account and blocked until the situation is fully clarified. Perhaps the broker will bring his arguments and dispute the accusation, so the trader will have to additionally collect the evidence and argue it to the Bank.
After a detailed investigation, the issuing Bank finally decides whether to return the money to the applicant or not.
Be prepared that the payment system may decide not in favor of the affected party. In this case, the trader will have to appeal to arbitration.
There are several nuances that determine the success of chargeback implementation. For example, a lot depends on the correctness of the documentation and the timing of the application to the Bank. Each payment system has its own rules, which it takes as a basis for consideration of the case, which should be taken into account. In addition, the trader must constantly work on the collection of evidence to protect himself as much as possible.
If you are not ready to solve the difficulties yourself, please contact the “Independent expert community”. The company’s specialists are engaged in helping victims of fraudulent actions of pseudo-brokers on Forex and binary options exchanges. Lawyers know how to properly execute the documents and get the money back from the brokers.