Hi! Recently I come across some companies helping recovering money lost in Forex. However, I’m not actually convinced if they are legit and hence I lost so much money and I can’t afford to lose any more, I would rather ask you guys if the money I lost are recoverable or not. I actually had two accounts with two different brokers. However, both of the cases are connected and I will try to briefly explain what happen.
Last year I come across a company selling education courses and Forex signals. The company is based in US, however, is not registered as investments adviser nor is regulated by any financial authorities.
Unfortunately, I trusted this company and I created two accounts for Forex trading. These were my very first steps on the financial markets.
1st account: Opened with an Australian Broker, I was inexperienced trader, I was following signals provided by the US company and lost approx. AUD $60.000. I have heard that the Australian Broker should conduct some survey before they allowed me to open an account with them. Is that true? If so, they did not and they let me trade straightaway.
2nd account: Opened with an US Broker, I opened this account under MAM (Managed account) and let the US company trade for me. Unfortunately, they lost all my approx. AUD $40.000 deposits. They asked me to deposit more to recover the loses which I did, I borrowed money from my friend because I believed they will recover the loses but they lost that money again.
I feel so stupid and naive and I lost all my savings and ended up with a dept to my friend (paying him off on monthly basis). Please don’t hate me, I know I was stupid. Do you believe that there is any chance to recover any money from either broker?
Last year I come across a company selling education courses and Forex signals. The company is based in US, however, is not registered as investments adviser nor is regulated by any financial authorities.
Unfortunately, I trusted this company and I created two accounts for Forex trading. These were my very first steps on the financial markets.
1st account: Opened with an Australian Broker, I was inexperienced trader, I was following signals provided by the US company and lost approx. AUD $60.000. I have heard that the Australian Broker should conduct some survey before they allowed me to open an account with them. Is that true? If so, they did not and they let me trade straightaway.
2nd account: Opened with an US Broker, I opened this account under MAM (Managed account) and let the US company trade for me. Unfortunately, they lost all my approx. AUD $40.000 deposits. They asked me to deposit more to recover the loses which I did, I borrowed money from my friend because I believed they will recover the loses but they lost that money again.
I feel so stupid and naive and I lost all my savings and ended up with a dept to my friend (paying him off on monthly basis). Please don’t hate me, I know I was stupid. Do you believe that there is any chance to recover any money from either broker?