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    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

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Info Are these recovery companies legit or not?

Asking questions about a company
99.999% of "recovery" companies are nothing but scams designed to remove more money from your wallet.

fundsadvocates.org was created on May 12, 2021. That's not very long ago, but they claim to have received 7 (unnamed) award and to have helped hundreds of clients. Wow, that's fast for such a new company (if it's true, which I doubt).

They claim to be "A registered and licensed private investigation agency" yet didn't bother to share a license number. That's one more big red flag in my book.

Their About Us page claims they were founded in 1993. Yeah, sure. All those trust pilot reviews started in July 2021.

"Funds Advocates is the only fund recovery and fraud investigation agency that can assure 100% recovery of your stolen money." :D :D :D :D Even simple credit card chargebacks do not always get all the money back, and these people claim to be able to magically recall cash no matter how it was sent.

Check your conversation messages here in the forum. Read the one from FPA Admin Bot (everyone gets one of those). That's a pretty good explanation of how these recover room scams work.
Thank you
 
I am retired that didnt know anything about forex have been tricked by regulated forex company OBRinvest to deposit all my savings and open to many big trades and lost it all. Was searching for recovery company. Did anyone heard of Global Refund Group they took my Credit card as initial payment so I am hope they are legit. Been asked to pay crypto from 2 companies before. Is Hard to trust
 
I am retired that didnt know anything about forex have been tricked by regulated forex company OBRinvest to deposit all my savings and open to many big trades and lost it all. Was searching for recovery company. Did anyone heard of Global Refund Group they took my Credit card as initial payment so I am hope they are legit. Been asked to pay crypto from 2 companies before. Is Hard to trust

As mentioned above, the fact that it calls itself a recovery company means it's incredibly likely to be a scam. They all claim to have lawyers, but don't ever bother to show the names.

There is one real lawyer who has posted at the FPA about handling cases against EU regulated brokers. They do have fairly high minimums and do charge upfront fees, but consultations are free. You can see more about them here:

https://www.forexpeacearmy.com/community/threads/we-resolve-your-dispute-with-forex-and-crypto-regulated-brokers.63313/


Focus on how you sent the money. If by credit card and you can show that they never intended to provide the promised service of withdrawal, you can approach your credit card's issuing bank and file for a chargeback. If by bank wire, you can ask your bank about how to file wire fraud charges.

Another tactic is to file complaints with their regulator, with the EU's financial regulators, and the financial regulators in your country. Some may not do anything, but they are all guaranteed to do nothing if you don't file a complaint.
 
USA company Paid initial fee by credit card to recover money lost to regulated CYPRUS forex broker. I am not 100% sure about this company. SOMETHING IS OFF. I already sent all my info twice to companies that wanted me to pay them in crypto never paid them. Global refund Group took my credit card.
 
Do you have a website for them? Have you looked up reviews for them? How much did you loose if you don't mind me asking?
 
Be very careful who you trust out there. Sometimes it's better to take a loss, learn your lesson and move forward.
 
I already answered this in your other thread:

As mentioned above, the fact that it calls itself a recovery company means it's incredibly likely to be a scam. They all claim to have lawyers, but don't ever bother to show the names.

There is one real lawyer who has posted at the FPA about handling cases against EU regulated brokers. They do have fairly high minimums and do charge upfront fees, but consultations are free. You can see more about them here:

https://www.forexpeacearmy.com/community/threads/we-resolve-your-dispute-with-forex-and-crypto-regulated-brokers.63313/

Focus on how you sent the money. If by credit card and you can show that they never intended to provide the promised service of withdrawal, you can approach your credit card's issuing bank and file for a chargeback. If by bank wire, you can ask your bank about how to file wire fraud charges.

Another tactic is to file complaints with their regulator, with the EU's financial regulators, and the financial regulators in your country. Some may not do anything, but they are all guaranteed to do nothing if you don't file a complaint.

I did a little more research.

globalrefundgroup.com was registered on December 13, 2020. They only paid for 1 year, which doesn't express confidence that they plan to remain at that URL for long.

They claim a 93% success rate. Even simple chargebacks in obvious financial fraud cases don't have that high of a success rate.

If any company like this contacts you out of the blue, consider this: How did they just happen to know you got scammed? If there was any police or regulatory investigation, the police or regulators would have talked to you instead of sharing your private information with a recovery company
 
Recovery companies are mostly another scam company, they know you are desperate and will promise you anything in order to take more money out from you. Do not fall for them, work with your bank and how you made your transaction to those scammers and see if there's any to recover some money.
 
GLOBAL REFUND GROUP it is another company that will take your money after a scam. Be careful DO NOT get involve with them you can write a better complain letter yourself. Their main focus is to get more money out of you. Hire a legit lawyer to recover your lost funds after forex scam.
 
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