The story of a client who is trying to get compensation for her nerves and lost money from the broker FTO Capital (https://www.ftocapital.com/) with the help of a new owner – Urfinancials (https://www.urfinancials.com/ru), does not have much development. After she was told several times to try to log in to her personal account through the MT4 program, FTO no longer contacted the trader. The trader repeatedly wrote to him, sent screenshots of what error the program gives her, but the broker is constantly silent and still does not provide the client with access to her personal account (instructions for chargeback on the eto-ravod.ru).
As luck would have it, on the other hand, Urfinancials begins to put pressure on the client, who periodically asks if something new is happening in the communication between the trader and the FTO, or if it is also presented in the form of a monologue of the client. Adding fuel to the fire was the latest message from Urfinancials, in which the company said that the broker was forced to close this issue indefinitely, since the requirements were not met by the client. Support writes that managers can engage in the development and solution of the problem only under the condition of closed positions in the old personal account and ask to contact them when this condition is met.
This incredibly upset the client, because, in fact, she lost at least moral support from another company and now has to deal with everything alone. She once again wrote to the FTO contact mail so that she could access her personal account, again sent screenshots with errors to the broker. Then the client decided to write to Urfinancials to explain the situation to this company as well.
The trader wrote that she could not log in, respectively, she could not close an active position until she was regained access to her personal account. This is logical. She cannot ask the FTO to close the position, and the broker himself simply does not allow her to do so. Frankly speaking, the client has almost no faith left that she can be helped at all, but there is still some hope (is it possible to return the money from the broker?).
Despite the fact that Urfinancials said that it was closing this issue, the broker did not stop answering the client and asked if she had received any answers to her screenshots sent to the FTO mail.
The client replied that nothing had been written to her, and the whole situation stopped there. None of the companies answers the trader, she simply no longer knows what to do, so she continues to wait. Perhaps one of the brokers will be able to understand the reason for the error that appears during authorization or solve those technical problems that could be the reason for closing access to your personal account. Again, all that’s left to do is wait.
At the moment, the situation has received a lot of details and a sufficiently wide development to conclude that this is a scam. However, maybe brokers will also “give up” and they will think that there is no longer any point in giving the case a “move” and it is easier to disown the trader.
What influences the development of fraud in the forex market?
Of course, they are deceivers in Africa and they do not need any supernatural reason for their appearance, but the market is a special case. It is related to finance and is located on the Internet. Also, forex promises and, importantly, provides a fairly simple income, especially for those who have developed analytical skills. And that’s why more and more newcomers are coming to this area who don’t really understand how it should all work.
That is why scammers simply take advantage of the naivety of novice traders. They still do not know how to check the broker, how to work with him, take everything for granted, and also very easily succumb to psychological influence, as they believe that the specialist curator knows better how to behave on trading floors (rating of reliable binary options brokers).
Therefore, there is one basic advice for all novice traders – do not rush to start trading right away, first thoroughly study the area in which you are trying to “go”. Keep in mind that large sums are involved here and it will be very easy to lose them if you do not arm yourself with the necessary knowledge.
Where to get this knowledge if there are a lot of scammers around? It’s very simple – contact the community of traders, it is usually friendly and close-knit. On various thematic forums you can find useful tips and tricks, as well as a kind of blacklists of brokers, which include unscrupulous brokers and even deceiving traders who mislead their colleagues and lead them to scammers (traders’ complaints).
If you have already read quite a lot on the forums, but there is not a word about the broker you have your eye on, then do not be lazy and check it through open and accessible databases of legal entities. At a minimum, the broker must have an official registration of the appropriate nature, and he must also have a real founder. We would not advise you to trust young companies that have been providing services in this area for less than three years, as they have the largest percentage of cheaters. Of course, the servers of popular brokers are “not rubber” and cannot accommodate all interested traders, but you can always find a mid-level company that, albeit not so famous, at least has a high rating and a level of trust from its customers.
In general, before becoming an analyst and trader in the forex market, you first need to be patient and attentive, as well as a little bit of the same analytics – to analyze what other traders say. Know that not all “colleagues” are trustworthy and among them there are peculiar “baits” – users whom the broker “sends” to the forums in order for him to lure naïve clients. But even such “decoy traders” are easy to uncover, since they are mostly in the minority. In addition, the “barker” could recognize before you, which is why it is important to first thoroughly study this topic, and only then “plunge” into it with your head and start making money on profitable currency pairs.
