At present, there are probably more Bitcoin, Forex and Binary options scams than legitimate schemes.
A regular and common scam is that you put a little bit of money in Com you trade, and you get a good return. You may take the money out without problem. You may do it again several times. You may refer it to other people saying how good it is.
So having realise that this is a good and legitimate scheme and you have made a bit of money from it, you then do a bit more and a bit more and a bit more and potentially spend an awful lot of money. That’s when the emails stop being replied to and you could no longer get your money.
What happens is that either communication stops or they want a fee for some kind of spurious licence required by the authorities in Singapore, Timbuktu, Latvia, Estonia, the Dominican Republic, or somewhere else where it’s impossible to find out if it’s legitimate or not. Here is just one article on this subject
You also need to be aware that the scam has perpetrated yet another scam usually from within the original company. Somebody will contact you, knowing that you lost a whole load of money, and say that they can get it back for you for a fee. You guessed. You pay the fee that’s the last you hear of that.
If it is a scam, then all you can do is report it to the police and Action Fraud but don’t expect to get your money back.
I’m sorry to say that I’ve dealt with dozens of these. In fact, I’ve dealt with dozens of these fraudulent ones but I’ve only had one where it was a legitimate company and the person was having trouble getting his investment back. If it is a legitimate company, you can of course complain to the Financial Ombudsman provided the company is registered with the Financial Conduct Authority otherwise it’s a case of taking them to court. No point in taking a fraudulent or scam company to court.
I’m afraid that we are specifically not allowed to take instructions from here.
If the site were to be a source of potential clients, we would no longer be independent because we would have an interest in pursuing litigation. With no interest in pursuing litigation, we can be really objective with our view is to whether something has a good chance or a limited chance of success.
In any event, for logistical reasons you would be better using a local solicitor .
I’m sorry, I know it’s not the answer you wanted.
Thank you for letting me assist you with your legal question. I am glad that I was able to help.
I am not certain whether that answers the question for you or not, but I am happy to answer any specific points arising from this.
It will be my pleasure to help you again either further with this or any future questions you have