Checking whether the platform was ever real
Many online trading scams use polished websites and apps that imitate legitimate brokerages, sometimes copying the name of a real firm. Securities brokers can be checked through FINRA BrokerCheck and SEC records, and firms offering futures or forex trading through the National Futures Association's database. If the platform is not registered, or uses a name that does not match the registration, that strongly suggests the account balance was never real. Regulators also publish warnings about impersonated firms and fake platforms, which can confirm what you suspect.
Pulling money back where possible
How you funded the account affects what you can try. Card payments can sometimes be disputed through the card issuer, wire transfers may be recalled if you act quickly, and cryptocurrency transfers can be traced on the blockchain, although recovery depends on whether the funds reached an exchange that will respond to legal process. Contact your bank or card issuer right away, report to the FBI's Internet Crime Complaint Center and to the SEC or CFTC, and keep screenshots of the platform, your account dashboard, and every message. Stop paying any withdrawal fee, tax, or verification charge.
The second wave
After an online trading scam, victims often hear from people claiming to be investigators, lawyers, or government agencies who can recover the money for a fee. These are frequently the same scammers or their associates. Before paying anyone to recover funds, verify who they are through an independent source. When you contact us, we look at where your money went and how, whether any regulated party was involved, and whether a step such as a claim against an intermediary or a court order directed at an exchange is realistic in your situation. We are direct about what is realistic, because the cost of chasing funds can exceed what is recoverable.
