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How to report and press charges against a trading company

Recently updated on 12 Jul 2021

2 Jul 2021 - Forex Litigation - Min Read 4 min
How to report and press charges against a trading company

It is important that those who fall victim to a Forex scam know the options at their disposal, in order to to report and possibly press charges on a trading company. Only by doing this, the possibility to recover your investment, at least in part, becomes a possibility.

If you believe that a company has broken the law or acted dishonestly in the handling of your funds, you have the right to report them to the appropriate authorities. To report a trading company, you must first understand if their behavior is considered lawful.

A law firm that has experience in Forex litigation can investigate brokers and trading companies that demonstrate unfair/illegal trading practices, and assess whether the brokers are indeed scammers. Thanks to the experience gained in the sector, and the testimony of assisted customers, the Boccadutri International Law Firm is familiar with recognizing Forex scams.

Our lawyers can, when necessary, bring companies to court and impede their operations from continuing. Perhaps even more importantly, they are able to assist in the recovery of your lost investment.

When should you report a Forex trading company?

The Forex trading sector attracts some of the worst scammers, but it is true that just because a broker has been unsuccessful in securing you profits, does not mean they are scammers; they may have only exaggerated claims in their marketing.

Making a product look better than it is is not a crime.

With this in mind, however, you should report the following suspicious activities:

  • You were pressured into opening an account through coercion by a broker.
  • You feel that your account has been mismanaged leading to losses, even if you do not have concrete proof, but a series of events that have lead you to this conclusion.
  • The contractual clauses were not clear, so much so that you only later discovered additional costs (for example, commissions) or you were unable to redeem a promised bonus.
  • The traders did not represent your interests thoughtfully, perhaps suggesting you to invest in a product that has proven fruitless.
  • You are unable to withdraw your money despite a seemingly active balance sheet.
  • You are unable to contact the broker after a major or unexpected loss.

A reliable Forex broker

The first recommendation when becoming a customer of a trading company is to check the identity and credentials of the broker. A broker who operates from a tax haven, not subject to regulation, will have more ease in disappearing with your money.

A company that can be trusted is registered with a regulatory body, such as Consob in Italy, Cysec in Cyprus, BaFin in Germany, CFTC and NFA in the United States, FSA in the United Kingdom, FINMA in Switzerland and AMF in France. By trading with a company registered with one of these authorities, it is easier to follow-up on broker’s activities, and to open a dispute in case of problems.

A regulated broker will usually indicate their license in the footer of their website.

If you have already tried to lodge a formal complaint using the contact methods indicated on the broker’s website and have encountered roadblocks, the next step is to contact the regulatory body with which they are registered.

In these situations, it can be very helpful to be assisted by a lawyer who is accustomed to acting on behalf of investors before the regulatory authorities.

In fact, if your investment has been mismanaged, taking legal action is the only option to recover your funds. Even brokers who are not scammers, but who nevertheless have mishandled investors’ funds, rely on the unlikeliness of victims to report them and hold them accountable.

Steps to properly report a scam

When making an accusation against a Forex broker, please ensure that you provide as much information and proof as possible.

Don’t leave anything out, no matter how trivial it may seem.

Here is an example of what a lawyer may need in proceeding with your case:

  • E-mail, text, and/or WhatsApp correspondence between you and the scammers;
  • screenshots of conversations between you and the broker, even if they have taken place on social media;
  • recordings of telephone conversations;
  • bank and credit card statements showing the amounts and dates of transfers;
  • names and addresses of all the financial institutions involved;
  • the names of the people with whom you have dealt.

The Boccadutri international law firm provides free consultation so that we may assess if there are the conditions met in order to recover money lost with Forex trading.

Our lawyers will study the information you provide to understand the situation and investigate the company you have invested in.

The evidence you provide is very important, for it is the foundation for which we will act against the company.

Often, falling victim to a scam results in serious financial and emotional damage, for which we are understanding. We will guide you through the process of recovery with the assistance of a dedicated team, extensive knowledge, and above-all understanding. Contact us here.

Request a consultation now!

Complete the form to request a legal consultation. Our experts will evaluate your case and suggest the best solution.

Calogero Boccadutri

Calogero Boccadutri is the Managing Partner of Boccadutri International Law Firm. He has trial experience in Forex, Personal Injury and Administrative litigation.



29 responses to “How to report and press charges against a trading company”

  1. Sanna bayo says:

    I been text by this broker, who make me to join bitcoin but they are asking for too much fees, I been asking to pay three fees now before taking my funds. Please I need my money back.

    The company name is Fxprotradelive in America

  2. toli dala says:

    hello sir, i`m here looking for a solution in my problem.
    i invested in one company Fxtrade-investpro.com (FTI-PRO)

    they said i a invest 20$ i will receive 50$ in 24h. i invested it but later they said for i gott my profit i need to sent 200$ and i will receive 2500$ i was wait for profit for long time…..
    later after 6 mounth i texted them they said my account its over to ready my profit..
    i need to send 200$ again and i will receive my profit in 12h untill now i didnt receive nothing

    i want my money back and my profit…….

    • Calogero Boccadutri says:

      Dear Toli Dala,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

  3. Aditya Sharma says:

    Fxoro has scammed me and not responding to me. Not letting me withdraw my money, I deposited all my savings. First they said complete 5 lots and then I’ll be able to withdraw but once I am done with 5 lots, they have stopped responding. They are based in Cyprus and have been scamming alot of people. Please get in touch with me.

  4. Nthabeleng says:

    I believe I have been scammed please contact me on my email.

  5. Dragan says:

    Hello sir, i have invested money in company Swift Tradex, with web adress: swifttradex.com. I did everything they ask from me to complete on of the investiment plan. Now when i try to make withdrawal my money to my bank account, they say i need to pat 300$ more to receive that pin, and they say if i dont pay money for the pin i will lose all my profit i made so far. Is there any way to check are they are legal company or should i report them as a scum. Thank you.

  6. phelokazi Ghu says:

    I am also scammed

  7. Thomas says:

    Good day, can please assist me I have a problem with a forex broker that I use to trade with they don’t want to process my withdrawal of 8k

  8. A HAROON says:

    Sir,

    I invested Rs 2.5 lakhs in A3 trading due to assurance given by its Account manager that I can get 50 USD daily, 1000 USD monthly. In March 2022. But he misguided me and lost the whole amount.
    How and where to report to get back my amount??

  9. Lesedi says:

    thank you for the article, it is very insightful. I also have reason to believe I was scammed by octafx, please contact me on my email address.

  10. Prudance mbedzi says:

    I was also scammed.4 days back I want my money back pls help me

    • Calogero Boccadutri says:

      Dear Prudance,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

  11. Mad says:

    Hi
    I don’t know if you can help me in my case since you operate outside of my jurisdiction but I will still leave my question here anyway.

    So opened an account with a broker and I can confidently say they intentionally manipulated my account into placing trades I know nothing about. All the trades have run into losses causing me my funds.

    Pls let me know if you can help me out.

    The thank you.

    • Calogero Boccadutri says:

      Dear Mad,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

  12. Jenny Boshoff says:

    Good day, I was told that I should make a b/coin payment to a given site for the ”broker” to auto trade for me
    After payment was done i was told that now I have to deposit more, when i tried to withdraw my balance I was told that I first have to pay more before I can withdraw
    I should have checked the site before I made payment but only did afterwards thats when I saw this sit is not even a month old

    • Calogero Boccadutri says:

      Dear Boshoff,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

  13. Bushra Qadir says:

    Dear Team,

    I started to work with a Forex Prop Firm in June and purchased their account of 100k $ in 497$. Cleared their challenge phase and started the live account. After 21 days when the withdrawal time came I send them an email regarding withdrawal, in reply they send me details about my account and approved my request. After one day they send me email “I am reaching out due to our system flagging your account for possible 3rd party account management”.

    and ask me to provide evidence. I do provide them all details with screenshots, about my IP address which were fluctuating at their end and that is because I am from Pakistan, and in this area, Telegram Application (message application) is not working without VPN, and this happens when it’s connected on sim mobile data, on wifi telegram often work. I am using this VPN from 3 years on the same mobile. It’s SUPER VPN application from play store, I have also connected his developer if he can provide logs of my device, but it seems difficult as its a free application.
    Now its been 2 days they are not replying to me. As I am from Pakistan I have no idea where to register a complaint about this. Kindly let me know about the details.

    • Calogero Boccadutri says:

      Dear Bushra,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

  14. Corrado Brancato says:

    Hello,

    I was a victim of a online crypto scam and am looking for advise on how to recover, locate and prosecute.

    • Calogero Boccadutri says:

      Dear Brancato,

      Thanks for your comment. Our experts will contact you as soon as possible.

      Kind regards,
      Calogero

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