Global Finance Recovery is a firm specializing in helping victims of binary options fraud. They help claimants to explain the incident to the bank or credit card company, so that it is fully understand what has happened. Some banks are unaware of binary trading and are unwilling to listen to claims. Global Finance Recovery help in this situation. They have a solid record of recovery from genuine claims.

If you are not yet looking for third party help, here are some steps you can take yourself:

  1. Document everything.The very first thing to do is to make records of everything you can. This includes the brokers or SSP’s terms&conditions, copies of any emails/Skype/live-chat you have had with them, confirmation of your deposit, turnover requirements for bonuses and your trading history. No matter what you do next, this information will be required in order to get satisfaction. What you do next will depend on the type of scam you have fallen prey to.
  2. Try to withdraw.Broker won’t let me withdraw. Contact the broker and try to find out why they won’t let you withdraw. The most usual reason is that you’ve not sent in the right ID, documentation, paperwork required by international law and can be an easy issue to fix. The next most pressing reason why withdrawals are not allowed is due to bonus terms and turnover requirements. If you haven’t met conditions you will not be allowed to make any form of withdrawal which is why you want to keep track of all your trading volume and turnover. If you didn’t accept a bonus in the first place your documentation will help you prove it. A good broker will try to solve your issues, a shady one will give you the run-around.
  3. Make your voice heard.The broker keeps giving you the run-around. If your broker is giving you the run-around and won’t address your issues the next best avenue for satisfaction is to let the community know what is going on. After all, it is the squeaky wheel that gets the grease. You can do this by posting complaints with details in forums. When you do this be sure to let the broker know and send them a link. They may not care, a sign of a shady broker, but when it comes to a reliable broker, they will want to address your problems to avoid poor publicity. When posting complaints give as much detail as possible, just saying that a broker scammed you is not enough, proof of fraud is what will get you results.
  4. Contact their payment providers.The broker won’t help, now what? At this point the chances that you have been scammed and are not just suffering from miscommunication are quite high. If you can’t get satisfaction from the broker you will have to take more drastic measures. If you deposited funds by credit card this may mean calling the credit card company and requesting a charge-back. Let them know the initial charge was fraudulent and that the company in question is not returning your contact requests for best results. The Times of Israel reported that a victim of fraud was able to get a full refund of his deposit after contacting the financial institution that processed the brokers payments. They withheld payments until the broker satisfied the claims.
  5. Contact the regulator.Time to call out the big guns. The great thing about expanding binary options regulation is that there is an alternative for many traders who think they’ve been scammed and you can contact the regulator. In some cases, this can be a challenge as many brokers are located off-shore and hidding behind holding companies and virtual offices so be sure to do your homework. If the broker is regulated contact the agency overseeing them, if they are not regulated contact the agency which oversees financial regulation in your country. If the broker is regulated they will have to address your issue to the satisfaction of all parties in order to remain compliant. If they are not regulated at least you can be assured at least they will have a harder time scamming any more people from your country. At best, co-operation between regulators could result in the broker being shut down for fraud.
    Be persistent. Shady brokers like to hire people who are good at deflecting questions and complaints, don’t accept what they are telling you. It may take time but eventually you will talk to the right person or persons and your case will be addressed. What is most likely to happen is that the combination of your contact requests, forum complaints and charges with regulators will add up to one thing the broker giving you your money back to avoid a much bigger hassle.