Investment Scam

daverogers

Hi

I'm scammed by a trading platform www dot safemarkets dot biz

What options are available to recover my money?

I'm in contact with UK lawyers - they cant help me
i have reported to action fraud police - the report has no update over the last few weeks
I'm in touch with recovery firms, they are all based abroad - but, not sure who to trust

I really need help in recovering my money. The option I'm yet to look at is taking help from the banks for chargeback with reason 'not as described, defective merchandise'

Not sure how to go about it.

I feel helpless.

Any help and advice will be gratefully received.

dealer_wins

Your money will be gone sadly.

steampowered

What do you mean when you say you were scammed?

Do you mean that this company straight up stole your money? If so, you might be stuck unfortunately. I doubt you will get chargeback protection for investments.

Or do you mean that you purchased a high risk investment which went badly? safemarkets.biz looks to be selling ultra high risk investments.

Keep_pedalling

The company is based in Estonia, but your money will now be somewhere else, you have zero chance of getting it back.

Malthusian

daverogers wrote: »

I really need help in recovering my money. The option I'm yet to look at is taking help from the banks for chargeback with reason 'not as described, defective merchandise'

This is likely to be the only viable option. See the MSE guide to chargeback for how to go about it. If you didn't pay with a debit card (e.g. bank transfer) then this route is not open to you.

Chargeback does not cover investment losses, but if there was never any investment to begin with, you may have a chance - although you may have to fight your card issuer all the way.

You are highly likely to be targeted by - and fall for - fraud recovery fraud. Anyone who asks you for money claiming that they can get your money back is another scammer.

LHW99

And may be on a "suckers list" and hence a target for future dodgy deals, be careful of unsolicited phone calls.

MataNui

I wouldnt describe that as an 'Investment Scam'. There is no notion of investments at all in that.


Its likely a fake trading broker but OP hasnt actually said why they think they have been scammed yet. Did they just take your deposit and run? Did they manipulate stops/prices/latency to ensure you lost? Or were you just stupidly throwing your money at crypto currency because someone told you it can make you rich overnight?


Its definately a dodgy broker though.Based in Estonia and not FCA registered. What on earth possessed you to give them your money?

poppy10_2

daverogers wrote: »

I'm scammed by a trading platform www dot safemarkets dot biz

How do people even find this stuff, let alone decide it's a good idea to hand over thousands of pounds to them?

Reaper

daverogers wrote: »

I'm in touch with recovery firms, they are all based abroad - but, not sure who to trust

None of them. They will offer to recover your money for an upfront fee. You pay the fee but won't recover any money.

BTW there is an FCA warning about them:
https://www.fca.org.uk/news/warnings/safemarkets-trading-style-optimumcommerce-ou