If you want to get back your money after being scammed by Cash FX Group, this article will show you how.
With approximately $5 trillion transacted daily, the forex market (FX) is the world’s largest trading market, surpassing the stock exchange. Forex fraud is becoming more prevalent. It is everywhere, from boiler room con artists to that person you met at the coffee shop the other day, and even reputable brokers and administrators have been involved in forex frauds. Those who believe it will never occur to them are the most common victims.
In this article, we’ll go through how to get your money back if you’ve been duped by Cash FX Group.
Cash FX Group: 3 Things to Know
Cash FX Group is an offshore Forex broker that is unconcerned with the protection of its clients’ assets. They are also banned in Europe, which is conclusive evidence that a broker is fake and should be avoided. They claim to offer forex products and services, but you can’t register unless you participate in one of their MLM scams.
Financial Regulation and Safety
Cash FX Group is a broker based in Panama, an offshore territory where the financial sector is loosely regulated. The Panama Papers bombshell shook the world in 2016, and it dominated the news for the rest of the year. Following the massive failure, the Central American country is said to have made some attempts to improve. Nonetheless, we can see that they have made little progress since allowing a legitimate Panama business to execute dubious activities that may or may not be fraudulent. Although a broker must have a minimum capital of $150,000 to operate in the country, the lack of further customer protection safeguards is notable.
Cash FX Group does not offer MetaTrader4 or MetaTrader5 accounts for trading. Metatrader is the most popular Forex trading platform in the world, with advanced features like Algo Trading, Expert Advisors, Complex Indicators, MQL programming language, and even a marketplace. Because of the many trading resources available, we advise that traders hunt for legitimate MT brokers. We were unable to use any of their platforms because registering was hard for us.
There are no trading demos available! Before clients start trading with real money, a broker must provide them with a virtual money practice account. And the trader must always verify the brokers first.
Fees and Methods of Deposit and Withdrawal
There isn’t a lot of information on minimum investment requirements or funding options. The website and the terms document are only dedicated to the Cash FX Group MLM scam. Considering their Elemental Academy pack, we think the minimum initial investment is USD 300. The trader is left with $210 to trade after deducting $90 from the $300 deposited as an educational fee.
The only funding option is Bitcoin, which is a red flag because chargebacks are impossible with cryptocurrency deposits.
Here at Global Assets Refund, our goal is to ensure that you know everything there is to know about forex scams. While our major goal is to assist clients who have been scammed or are victims of fraud in recovering financial losses, we would prefer to assist you in avoiding scams in the first place. As a result, stay alert and informed.
If you’re lucky, you might be able to get your funds refunded. It would be incorrect to say that you can’t get your money back at all. As you read on, you will learn about different techniques for recovering funds that you have lost to an internet scammer. It isn’t an exaggeration to say that getting your money back requires a lot of luck.
On the other hand, Global Assets Refund can increase your chances of getting your money back.
Getting in touch with your local police
If you are scammed or find yourself in a situation where you’ve been tricked, you should contact your local police department. That is, in fact, the best course of action for you. Your local police force, on the other hand, has some limits. It is unable to apprehend thieves operating outside of its operational area. So, even if the broker is in your nation, there’s still a chance the cops will find it. If the broker, on the other hand, is based in another nation, you have a slim possibility of recovering your funds.
Reporting to a regulatory authority
You’ll be fortunate if you create an account with a broker, get cheated, and then discover the broker is regulated. If the broker who defrauded you is regulated, you may be able to recover some of your funds. You only need to go to the broker’s website and look up which regulatory entity oversees it. After that, all you have to do is contact the regulating body. On their website, you may find a contact form or a phone number to call. You should notify them right away about the mishap. You should properly state the broker’s name to them.
Get Help from Global Assets Refund
When you contact Global Assets Refund to file a formal complaint about Cash FX Group, you have a good chance of receiving your money back. If you search for how to get money back from a forex scam after a few years, Global Assets Refund may be the only name that comes up.
Clients from all around the world have entrusted the organization with their problems with internet brokers. More than a thousand instances have been successfully resolved by the organization, which means that consumers who made a complaint against the broker with Global Assets Refund received their money back.
Why does Global Assets Refund have such a high success rate in recovering funds from internet fraud brokers?
The company was founded by a group of specialists, including psychologists, lawyers, and industry experts. They’ve banded together to build a team that not only understands the regulations that regulate the online trading sector, but also the strategies that help online scammers return money to traders as quickly as possible.
All of these professionals will work together to assist you with obtaining your money back after being scammed by Cash FX Group.