Despite the promises of the government, the incomes of Russians have been declining for the sixth year in a row, which negatively affects the overall well-being of citizens. People are looking for alternative ways to earn money, in addition to official work. On this wave, part-time jobs on the Internet are in great demand. But it will take time to reach a decent profitability through freelancing. In addition, for such specialties as a programmer or tester, you will have to take a special educational course.
An alternative to freelancing is online trading. If you believe the advertisements that are stuffed with the Internet, to become an investor and trade in the financial market, even specialized knowledge is not needed. A couple of hundred bucks is enough, register on the broker’s website, replenish the deposit and, with the help of an experienced analyst, $ 100 will turn into 1000 bucks, and then into 10,000 US dollars. These are all fairy tales that scammers feed potential victims.
Online trading is painstaking work, where the slightest rash action leads to a partial or complete loss of capital. In addition, a novice investor needs a reliable forex broker that provides access to the global financial market, and not a crook. In the wake of the popularity of online trading, the number of pseudo-brokers is growing exponentially, and it is becoming more difficult to protect yourself from scammers (binary options scammers). If in the early 2000s, in order to calculate the fraudsters, it was enough to check the legitimacy of the license, now you can freely register a company in an offshore zone and calmly deceive people.
How to withdraw money from a broker? A question whose relevance is increasing every year (is it possible to return money from a broker?). In 2017-2018, the Russian Central Bank blocked 400 websites of companies illegally providing brokerage services in the Russian Federation.
Reasons for refusal to withdraw funds
Refusal to withdraw money by a broker does not always mean that he is a scammer. Sometimes such actions are the fault of the trader himself:
- after submitting an application for withdrawal of funds, the investor closed several transactions in the red, therefore, at the time of payment, the required amount was not on the deposit;
- the account specified for withdrawal of funds differs from the one used to replenish the trading account;
- The trader has not fulfilled his obligations, for example, under the terms of the affiliate or bonus program.
There are episodes when, due to the fault of the manager of the brokerage company or as a result of a technical failure during the verification of the trader, the company blocks the withdrawal of money. In the case of a legitimate broker, such issues are resolved within one day (the broker does not return the money: what to do?). For pseudo-brokers, all means are good. They use possible and impossible reasons, just not to give money to the trader. At the same time, scammers arrange everything as if it is an investor who owes them money to pay off fictitious taxes, loans, commissions.
How to deal with pseudo-brokers
To punish a pseudo-brokerage company and withdraw money, do not resort to actions that are contrary to the law. It is necessary to use legal levers of influence on crooks. If a swindler broker works in the jurisdiction of the country as a trader, the latter has a chance to punish the offenders by filing a lawsuit with law enforcement agencies (binary options and forex scammers). The police have the right to initiate searches in the offices of fraudsters, seize documentation, computers where information confirming illegal activities is stored.
With crooks working from abroad, the situation looks worse. Russia, France and other countries do not extradite their citizens, even if they have committed a crime. However, for example, in Ukraine, since 2014, criminals who are citizens of Russia have not been extradited to the Russian Federation, if they are officially registered as Ukrainian entrepreneurs.
International financial regulators are created to combat foreign scammers. But their powers extend to licensed brokers. If scammers operate in incognito mode, financial regulators are not able to protect the trader (blacklist of binary options brokers). The only way they will help is to publish a corresponding warning about fraud on official websites. Withdrawing money from a broker is not an easy task. It requires a non-standard approach to the solution, and the chargeback is one of those.
How to withdraw money from a broker using Chargeback
Chargeback or cancellation of the transaction is provided by international payment systems (Visa, MasterCard, MIR) as part of an agreement with banks. The essence of the service is to protect non-cash funds of consumers from fraudsters. For example, in a situation where a person bought a product in an online store, but the purchased product was never delivered.
If the police, the prosecutor’s office act exclusively in the legal field of the country under whose jurisdiction they are located, the chargeback does not have such restrictions. The cancellation of a monetary transaction is carried out in accordance with the internal regulations of international payment systems, which are the same for all states in which they are present.
To initiate a chargeback, the victim applies to the issuing bank, fills out a standard application form. It is accompanied by an explanatory note, written in free form, with a detailed description of the essence of the conflict. After accepting the documents, the applicant’s bank sends a request to the acquiring bank, which within 45 days makes a decision on the return of funds. If a refusal is given, the trader has the right to apply to the arbitration commission of the payment system. The arbitral award either confirms the position of the acquiring bank or obliges it to make a repayment.
It is worth noting that banking institutions and payment systems do not cancel a transaction based only on the trader’s application. The latter must provide proof that he is a victim of the pseudo-broker’s fraudulent scheme:
- screenshots of correspondence and the status of the personal account on the trading platform;
- receipts, receipts for payment of brokerage services;
- statements from the mobile operator and bank.
In addition to collecting evidence, before submitting an application, the victim must make sure that his case does not fall under the following list of restrictions under which chargeback is not possible:
- money transferred using electronic wallets;
- the funds were sent in favor of an individual, not a company;
- the transfer was made via Internet banking;
- More than 540 days have passed since the disputed transaction.
If you do not have time to collect evidence and prepare it, or if you have not previously encountered the need to initiate a chargeback, contact specialists. Chargeback lawyers know how to build protection so that the decision of the payment system is made in favor of the injured party (instructions for chargeback on the eto-ravod.ru).
