Signs You Have Become a Victim of a CFD Trading Scam

The realization that you have been scammed can cause your heart to sink. You never expect to be betrayed by a company that you trusted for building your trading career. Unfortunately, the online world is filled with great and bad companies. Some go the extra mile to give you the trading services you need whereas others are nothing but fake facades with heinous intentions behind them. In a lot of cases, people realize they have become a target to a scam only after becoming the target. How do you know you have deposited your money on a trading platform scam?

Here are some signs that should give you some hint that you have made a huge mistake with your money and by trusting a fraud online platform. 

Your Funds Aren’t Appearing in Your Account

So, what you see online as your trading account is just that—an online trading account. The money that you deposit in this account actually goes into a bank account that the online broker is maintaining at some bank in your name. Unless the company connects that account with your online trading account, the money won’t show. So, when you see that you have deposited the funds but they are not appearing in your online trading account, you have to take action immediately. You have to get in touch with the company as soon as possible and tell them about the situation. 

If you have deposited money using a credit or debit card, it should not take more than a few minutes for the money to appear in your trading account. With a bank wire transfer, it can up to 5 working days, but that’s not the case with debit/credit card payments. Also, if you have used some internet payment option, such as Skrill, the money should again appear in your account within minutes. 

You Have No Idea Where Your Money Is Going

This is yet another sign that you have signed up with the wrong people. You must always know where your money is going because it is being taken out of your account. If you are trading, you should clearly see on the platform how much money you have invested and where you will be in terms of your account funds if the trade is not successful. However, if you can’t figure out where the money is going, you should confirm by calling the company about the situation. Even when you trade, you don’t lose everything just in the first trade. It is a slow process. Yes, you can lose all you funds, but not in a snap. 

Sometimes, the money is disappearing even without you even trading. You will see that the money is going out of your account regularly when you are not even trading. The company will tell you ten different types of fees that it’s charging from your account. If you never knew about those fees in the first place, the chances are that you are being scammed. 

You Have to Spend More Money to Get Your Money Back

So, what happens is that you invest in an asset and expect some returns. You know that your trade was successful but the money never appeared in your trading account. What could that be? You call the broker and they ask you to make a deposit of a certain amount to get the profits credited funded into your trading account. You should instantly know that you have lost your money. In fact, don’t deposit more money in hopes of getting the previous funds back. You will never get them back and instead lose some more money. 

Final Thoughts

It is always recommended to be in touch with companies like Claim Justice before you sign up with an online company for trading. Even if you have been scammed, there is still possibility of getting your money back when you get in touch with a claim refunds company. You just have to make the right moves at the right time.