Have you been scammed by OptimizeFunds? This article will show you how you can get your money back.
OptimizeFunds was established at SVG in 2010. The company registered its domain in 2022. The company was established immediately after the FSA’s (SVG’s regulatory body) announcement that trading in binary options and foreign currencies was prohibited. No Tier 1 regulator, such as the BaFin, SEC, FCA, or CySEC, regulates the company.
Although OptimizeFunds’ claims of receiving numerous industry accolades are difficult to believe, at first sight, one could think that it is a legitimate broker. However, a short fact check reveals that this facade conceals a conventional scam website that solely acts as a broker. You should not put your financial security in the hands of OptimizeFunds.
Here’s how Global Assets Refund can help you get your money back from OptimizeFunds.
Countries Where OptimizeFunds Operates
OptimizeFunds operates in Albania, the United Kingdom, the United States, Spain, Canada, Greece, and Portugal. Most of these countries’ customers are fraudulent.
OptimizeFunds uses a platform known as WebTrader for trading. The platform is only accessible online and is designed to be flexible. Only the available markets, the margin level, the fund balance, and the trading history are visible. This system is a crude version of the MetaTrader (MT4 or MT5) program.
Types of Accounts
OptimizeFunds claims to offer trading in indices, equities, commodities, and currencies. The website lacks the proper permits to make this claim. But OptimizeFunds also doesn’t give the details of this deal that are required.
According to information gathered from OptimizeFunds’ website, the platform has four different trading account types. These include; Cent, Pro, Pro+, and Luxury. The minimum deposit of $250 is the sole specified information in these listings. You should know that you can open a new account for less money with several licensed and real award-winning brokers.
Compared to industry averages, OptimizeFunds promises a floating spread of 1.3 to 1.5 pips. However, the spread on the trading site is double that, at 6 pip. So, if OptimizeFunds does offer trading, the trader will lose a lot of money.
The announcement that OptimizeFunds offers leverage up to 1:500 can be found elsewhere on the website. This provides more proof that OptimizeFunds cannot be a reliable broker with a base in an EU Member State like Estonia.
Why OptimizeFunds is Not Reliable
- Its regulatory standing is questionable. It is an SVG-based offshore corporation. It is the scam companies’ preferred location. Hence, your money is not secure.
- A segregated account is not available with OptimizeFunds. Customers’ money is kept apart from the company’s operations.
- The terms of the withdrawal are such that it is practically impossible to withdraw an investor or trader’s cash.
- The awards and distinctions displayed or claimed date from a time before the company was established.
- There are lots of negative reviews about the company online.
- The home page of the website does not have a phone number.
- The offered leverage (1:500) is extremely high. A leverage of 1:3 is offered by regulated businesses.
How Online Trading Scams Work
One strategy used by internet trading fraudsters is to show examples of successful trades that deceive the investor into believing they can make money easily and hook them on the concept. After this, the investor will be persuaded to invest more money to receive higher returns. Investors might also be given other perks to get them to tell their friends and family about the site. The brokerage will then close the account and make it so the investor can’t get to the money until they’ve taken all the cash from the investor and anyone else in his or her network.
Many dishonest businesses will say they are based in a regulated area and show fake regulatory licenses and addresses on their websites to get investors to trust them.
Be cautious and verify your information from several different sources. Sending money online should always be done with extreme caution.
How to Protect Yourself From Online Trading Scams
Doing extensive research on the businesses and organizations you intend to donate the money to is the first step in defending yourself against shady individuals online. There may already be other users of the service who have posted their comments and feedback online on various forums.
A common theme regarding users’ dissatisfaction with OptimizeFunds developed after some research was done on numerous social media platforms and online trading communities. According to this customer feedback, OptimizeFunds does not seem to be a reliable broker, so extra caution should be exercised before investing using their brokerage platform.
Global Asset Refund has recovered millions of dollars from online trading scams. Through our affiliates, we offer fund recovery services to clients all around the world. Our team comprises experienced fund recovery specialists and attorneys.
If OptimizeFunds scammed you, Global Assets Refund can help you recover your money. We can talk about the technique used to scam you, figure out how to fix it, and get your money back.
We have years of experience in the field of fund recovery services. Our service targets different forms of financial scams, including binary trading, online trading, investing, cryptocurrency, and forex trading scams. We are a professional fund recovery company that uses all available technologies to help people who have been scammed.
You have nothing to worry about if you have been scammed by OptimizeFunds. The good news is that our service is accessible to anyone. The specialists at Global Assets Refund, a specialized organization devoted to assisting customers in recovering money misplaced online, are always on hand and have assisted customers from all over the world in recovering millions of dollars.
Using a reliable firm like Global Assets Refund is essential because a standard chargeback process may be complicated without the proper guidance. Let Global Assets Refund help you establish a solid case to get your money back from OptimizeFunds as soon as possible.