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Good afternoon, colleagues and friends and traders!
On our website many useful articles on the rules and techniques of Forex trading and binary options. But sometimes there is an unpleasant situation when a client “reset account”. The communication Support services does not lead to clarity and it seems that money is gone and lost forever.
Despite the fact that suppliers of financial services are subject to the supervision of financial regulators, ensuring customer investment protection, drafting complaints is costly and not always promising process. From the position of the legal rights of the trader have to understand the place of registration of the company. What can you do if you were in such a situation, namely on the procedure for Chargeback (chargeback) from Visa and Mastercard in our material.
What is the most effective way to return money ?
In reality, the scammers in the Forex market and binary options can be prepared for scamu, using the features of local legislation, casuistry offered to the user agreements and contracts of the offer. This allows you to deprive a trader of the above Deposit or profit.
Some of them are even of the "pure scum" — a company created to set a certain amount of funds, after which comes the closing of a legal entity with the subsequent disappearance of the founders.
20 years of existence of the market of financial services offered by brokers online — the complaints of non-payment of funds referred to as common brands and unknown companies with "reliable" American licenses and companies with certificates of countries that do not immediately possible to detect on the map.
Traders have tried various ways to "fight" for stolen, according to them, funds, up to the recruitment of lawyers and lawsuits on the "Paradise Islands" offshore. The only viable option the return of the Deposit was the chargeback procedure – cancellation of a payment provided for by the rules of international payment systems.
the Return of funds remitted to broker at the Chargeback procedure – expectation vs reality
to make life easier for customers and make secure non-cash retail payments, Visa and Mastercard came up with a procedure for appeal and refund from unscrupulous sellers or service providers, including financial.
the Good news for traders is the burden of proof of innocence falls on the broker; the Bad news: the rules shargeback determines the local Bank, for payment extends the Statute of limitations, the money is returned only in the size of the transfer (forget about profits).
Theoretically, a trader, who discovered at some point, "unfair zero" on the bill, writes on the broker application to the Bank specifying the date and amount of transfer payments. He goes to the local branch of the acquiring Bank, which debits the funds from the settlement account of the company.
In practice, the broker need to bring a copy of the contract, putting at the section "Risks" and the lawsuit will be completed in his favor.
it Should be understood that depriving the trader of the Deposit, the scammer is in danger of losing the opportunity to service Visa and Mastercard — for this you need to use the number of Chargeback transactions exceeded 2%. Therefore, the theft of funds takes place on a pre-thumb schemes, where the "appellant" will be in a losing position:
Using the scheme of transfer of legal intermediaries, listing broker customer accounts processing arrangements. In this case, a refund is only possible if they did not get to the broker; the Transfer of funds through the legal payment of electronic systems; Liquidation of the legal entity or the withdrawal of assets from the account.
the Procedure Shargeback does not provide for liability of third parties, so the lack of proven connection broker with payment e-wallet will automatically make a pointless procedure requirements of the lost Deposit. In the case of timely delivery of the client's money to the broker to the payment system of claims can not be.
the Return of funds stolen by broker is relatively simple in the cases:
non-Payment of income on the investment tools of a broker; Failure to return the Deposit, who was not involved in the transactions. Problems with the refund due to offer broker
Access to trading in the Forex market the trader may get by signing a Contract or joining the offer — standard conditions of the broker. Inattentive study of trade conditions may deprive the trader of the funds and the right of return, if:
the Client lost money as a result of forced closure of positions, as they reached the level of stop-out; Missed the deadlines for appealing loss due to spike — technical difficulties, which led to broadcast non-existent courses; the Loss was written off because of the nuances of structured products (for example, they were converted in the national currency and the money lost as a result of the crisis); Loss of funds due to penalties for an incorrect completion accounts (for example, frequent withdrawal and Deposit of funds without commissions); the deduction of profits due to high frequency of transactions.
Therefore, before the operation Shargeback, read a reasoned response, which typically contains the items of the Contract or offer. Take into consideration the fact of his prior consent to these conditions, because exactly the same arguments the broker will provide to the acquiring Bank.
the Scheme of refund from the broker for the Chargeback procedure is transferred from a Bank card
Each Bank has its own developed algorithm shargeback and developed over the years a strategy of considering the various cases. Returns is largely a Security Service that will meet the client's complaint to the store, but "wrap" the statement, which will appear as "lost money on Forex (binary options)".
the First thing is to learn the victim is that he was the victim of improperly provided financial services. Try to learn the rules of refund of payment system in advance and find a suitable description in the codes chargeback on the websites of Mastercard and Visa. This formulation will be submitted to the broker by the acquiring Bank when a statement will register the Bank card Issuer.
Despite the fact that in the theory of his innocence must prove to the broker — before you contact the Bank that issued the card, prepare a package of evidence. In addition to the list of documents listed in the instructions of the Bank (if any), backed a complaint by the screenshots correspondence with the company with the refusal of the withdrawal of the Deposit. Also prepare a copy of the Contract (download from website), try to find the points that prove wrong the broker if there are none, just point to the section "obligations of the company" and "Client's Rights".
Preparing documents, don't forget about the Statute of limitations shargeback 540 days from the date of the transfer. Remember: the primary decision to start the procedure taken by the local Bank. Visa and Mastercard enter into the dispute only as arbitrators, but they will not spoil relations with a financial institution.
If the Bank has accepted the claim, then begins the second stage of the proceedings between the Bank–acquirer and broker. It's a long process, as the company will gain time to collect evidence and appeal, in the case of a positive decision in the direction of the client-applicant.
In case of failure, the trader will provide the official answer and the evidence of the argument, after which he can, in theory, find new facts, to appeal again.
the Paradoxes of Chargeback
As can be seen from the above scheme, the decision to return funds play a big role in the findings of banks, card issuers and acquirers, carrying out payments. These companies are guided only by their own ideas about the strength of the arguments of the parties.
This leads to paradoxes, sometimes interpreted in favor of the broker, but customers seeking a refund may receive 100% of transfers even if the money had been merged their fault.
Brokers will have to prove that services were provided under the contract in full, but the acquirer may stand on the side of the trader in case of unconvincing arguments, saying that a trader put a "tick" under the Treaty is signed by, or in the absence of evidence actually carried out the transactions.
Another problem with the brokers proof of his innocence is "kitchen" format of business. If the customer has not been granted the possibility of real, competitive bidding, and the funds were simply written off and not out for sale (especially binary options), the trader will return all the funds that fall within the 540-day period.
If you are trying to hold money back for "other's advice", remember that the decisions of the banks depend on specific people, so the same financial institution may make on the same cases, different decisions, or not make the statement, "unscripted" and the past before all the stages shargeback.
the services Market shargeback a refund from the broker
From the description of the mechanism of refund from the broker-the scammer can be seen that the success of the claims depends on the ability legally to defend his innocence or the existence of ties in banking. So around shargeback procedures applicable to brokers, there was market services, where companies and individuals are willing to help traders to get the money back.
One of the features of these services prepayment and high commissions up to 30% of the transferred, withheld or withdrawn by the broker of the amount.
Before jumping into the first company in the hope of regaining lost if you propose to get the money back from the broker, you should understand:
the Appeal to intermediaries does not relieve from gathering the initial evidence of fraud; the Company is committed to "promote" the application to the issuing Bank and to prepare a package of documents, but it can never guarantee 100% results, as the main decision shargeback accepts Bank aquiar; If the funds were transferred through an intermediary (in the recipient's details specified person or a payment service, etc. but there is no clear data broker) the money is not returned; If the brokerage company is bankrupt, the advance payment intermediary "burn".
on the Internet a lot of advertising on the subject of assistance of money back from the brokers, but to choose a mediator is necessary by the same principles, what should be choose the Forex company:
a Legal entity must be registered in the national jurisdiction of the client (you can check in the registry); No 100% promises, partial prepayment; Specialization – a lawyer must deal with a chargeback closely and constantly.
most of the companies in the first lines of search results (and advertising Yandex.Direct and Google.Adwords) have a mixed reputation for repayment. This may be actual cases of a tightening of Affairs (the fact that they apply to the Bank cannot be verified), and with the unpredictability of the outcome of the case.
as a result, every positive review there are instances when the Deposit is paid, but the issue has not been resolved.
Beware of the options is "free work" without payment, such offices in the process will be asked to issue a power of attorney from the trader and assigns the received funds. Also common supposedly successful translation into a foreign account which will be opened remotely. The scammers will demand payment of the work, pointing to allegedly received the money in the account, the trader will report a "representative Bank".
avoid "helpful" calls from people who are aware of the problem of non — payment of Deposit is 90% of cases divorce is affiliated with the Scam firms that are planning to cash in on the victim in the second round. Typically, these companies can be registered in one offshore jurisdiction, the fact that criminals will present as an additional advantage.
How to protect yourself from fraud Forex broker?
a Large number of Scam and the loss of deposits in the Forex market had in 2014. The situation has reached such a stage that he was on the front pages of national media.
the Positive effect of the last sensation was the article in the state press on how to choose the right broker ratings and selections of reliable companies that provide services on Forex market.
the Advice is quite simple — the company whose brand dozens of years present on the international market of financial services will strive to overcome the trader's Deposit. This can lead to the loss of reputation or serious problems, which will create the government does not want a repeat of 2014.
However, there is an exception in the form of a very large company with branches in all regions of the Russian Federation and known that persuades customers to take out loans... I Think you all guessed what kind of company is it... the Name can not write, because they love to sue) of Course, with these comrades to have Affairs not worth it.
Small time crooks or firms "collected on a knee" without getting a profit, can start "breaking bad", even if the Scam was not intended at the creation stage. Therefore, when selecting a company pay attention to the so-called white list of trusted brokers.
Starting to work on the Forex market, the majority sees the only future advantages, but does not evaluate risks. Always work on the formula "Risk should not lead to a strong emotional implications, the amount invested should not be sorry for the loss".
Read everything you sign or agree on collective or public offer. Remember: saving time on the study of legal issues and check the validity of the brokerage business now have to spend a lot of energy and emotion then, studying documentation, and ways to regain lost money from broker fraud.
Beware of calls from unknown numbers from the left of companies, methods of verbal impact, which occurs due to the 70% of fraud, including forced opening of an account in an unknown office.
the Conductor of this evil is the phone and calls the attackers, urging "open account without risk". Do not think that can resist the psychological tricks are improving by the day — just do not answer the phone from unknown numbers or hang up, actively use the "black list" in your phone. Also you can punch the number of the caller in the Internet now the web is full of sites where there are comments of people who call from certain numbers. If there are some negative reviews (financial fraud, mountains of gold, and so on) to respond to such a call makes no sense.
With respect, Alexey Vergunov
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