Pharaoh
Brigadier General
- Messages
- 20,308
Have You Been Scammed by Sellers of Software, Signals, or Other Products?
Did that 100% Guaranteed to never lose a trade EA or signals service go on a massive losing streak?
Did that Ultimate Secret Trading Course to Make Millions turn out to be 15 hours of videos of the so-called trading guru bragging and showing off cherry picked trades and the secret finally revealed was "buy low, sell high"?
Unlimited Profits at No Risk! I just need your payment info.
Did your product come with a no questions asked refund guarantee that's not being honored?
Any of the above sounds to me like a good reason to fight back.
1. In this case, I recommend going to your payment provider first. In some cases, it may be worth escalating to national regulators, but in call cases a product lying about what it is or not honoring a refund guarantee is usually an easier target than a broker.
If you paid by credit/debit card, you'll want to contact your card's issuing bank about a chargeback. (DIY chargeback advice coming soon.)
If you paid by PayPal - Click Here to file a fraud complaint with PayPal. Make sure to specify that the how the product is not as describe or is not honoring its own refund terms.
Most other payment processors have a way to file complaints about fraud. Check the processor's website.
If you paid by crypto, do take the time to Click Here to inform the US Secret Service. They are very interested in Crypto scams. Learning more about Tracing Crypto Transactions Yourself after they leave your wallet may also provide useful information.
2. Complain to any relevant Consumer Protection agency in your country and any county you can tie to the product seller.
Globally, you can Click Here to learn how to file a complaint with eConsumer.
If the US is involved, you can find all the state consumer protection offices by Clicking Here.
3. Depending on the exact nature of the service, offering it certain countries or to people in certain countries may require a license.
For example, if I set up a signals service out of that big Pyramid in Las Vegas, I'd want to be very careful about offering stock or forex signals without some sort of financial advisor license. At some levels of service, no license is needed. For others, it's definitely needed. I'm not an expert in this field, so I can't tell you where the line is. Even if I could, I don't know what the limits are in other countries. Your best bet is to check with your country's financial regulators and the regulators of whatever county the person offering financial advice is in.
You can find the regulators I have pages for so far by Clicking Here to go to the Table of Contents. If a country not listed is involved, Click Here for a list of Global Financial Regulators.
Did that 100% Guaranteed to never lose a trade EA or signals service go on a massive losing streak?
Did that Ultimate Secret Trading Course to Make Millions turn out to be 15 hours of videos of the so-called trading guru bragging and showing off cherry picked trades and the secret finally revealed was "buy low, sell high"?
Unlimited Profits at No Risk! I just need your payment info.
Did your product come with a no questions asked refund guarantee that's not being honored?
Any of the above sounds to me like a good reason to fight back.
1. In this case, I recommend going to your payment provider first. In some cases, it may be worth escalating to national regulators, but in call cases a product lying about what it is or not honoring a refund guarantee is usually an easier target than a broker.
If you paid by credit/debit card, you'll want to contact your card's issuing bank about a chargeback. (DIY chargeback advice coming soon.)
If you paid by PayPal - Click Here to file a fraud complaint with PayPal. Make sure to specify that the how the product is not as describe or is not honoring its own refund terms.
Most other payment processors have a way to file complaints about fraud. Check the processor's website.
If you paid by crypto, do take the time to Click Here to inform the US Secret Service. They are very interested in Crypto scams. Learning more about Tracing Crypto Transactions Yourself after they leave your wallet may also provide useful information.
2. Complain to any relevant Consumer Protection agency in your country and any county you can tie to the product seller.
Globally, you can Click Here to learn how to file a complaint with eConsumer.
If the US is involved, you can find all the state consumer protection offices by Clicking Here.
3. Depending on the exact nature of the service, offering it certain countries or to people in certain countries may require a license.
For example, if I set up a signals service out of that big Pyramid in Las Vegas, I'd want to be very careful about offering stock or forex signals without some sort of financial advisor license. At some levels of service, no license is needed. For others, it's definitely needed. I'm not an expert in this field, so I can't tell you where the line is. Even if I could, I don't know what the limits are in other countries. Your best bet is to check with your country's financial regulators and the regulators of whatever county the person offering financial advice is in.
You can find the regulators I have pages for so far by Clicking Here to go to the Table of Contents. If a country not listed is involved, Click Here for a list of Global Financial Regulators.
