How to recover your investment from Brokerz – Scam Broker Review
Be on the Lookout; Brokerz is an offshore broker; Your investment is at risk. Read this review you want to recover your investment from Brokerz.
Is Brokerz a legit broker and how to recover your investment?
Brokerz is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from Brokerz.
Brokerz broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the Brokerz staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually
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Brokerz broker Reviews
A look into Brokerz Reviews on various internet forums will reveal that Brokerz clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding Brokerz have been drawn from various sources, it reveals a similar challenge. Brokerz entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
Brokerz broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by Brokerz Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Recover Your Investment From Brokerz Broker?
There is no easy way to recover your investment once you have sent it to Brokerz. Brokerz is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. Brokerz constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of Brokerz to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from Brokerz, without going the civil action route. A number of Brokerz victims have managed to recover their funds by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from Brokerz broker.
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More reasons not to trust Brokerz
Brokerz.com is a brand of Brokerz ltd which is located in Kingstown, Saint Vincent and the Grenadines. He trades Forex, stocks, commodities, indices and lack of regulation. See the full review to see the pros and cons of doing business with this broker.
Unauthorized, blacklisted by Austrian regulator
There is no regulation explicitly stated on the website which leads us to believe that Brokerz does not fall under any regulatory oversight. Otherwise, he would have said it, because the regulation is very appreciated in the commercial world, as it should be. Without this, we have no guarantee of separation of accounts, that is, client funds may well be mixed with corporate funds and subject to all kinds of illegal encroachments on the part of the broker. Especially since the Austrian financial watchdog has officially warned the public against relations with Brokerz. Due diligence requires us to declare this fact and to consider it if we are negotiating with the broker.
In addition to the possibility of mixing, there is also no security mechanism by which customer losses can be recovered in case the broker goes bankrupt or simply decides to skip the city. Regulatory bodies such as the FCA or Cysec offer all of this insurance and more. We suggest that interested traders trust the “better than cure” cliché and turn to brokerages that can guarantee compliance with the highest regulatory standards.