How to recover funds from GFX Broker Scam

recover funds from GFX Broker Scam: Trust is always required when you trade with a broker. GFX’s website indicated that it is registered in St. Vincent and the Grenadines under the name GFX International Limited, which means if you are not in Cambodia, you are operating with an offshore broker. However, being an offshore broker is not the problem.

If a broker has the appropriate license to operate, it can still be trusted. GFX state in sits term of service that it follows Cambodia’s regulation. However, we checked the Securities Exchange Commission of Cambodia (SECC), and there was no company or brokerage named GFX International Limited.

Recover funds from GFX Broker Scam

This means any regulatory body does not regulate GFX, and you should not trade with an unregulated broker. Even if you trade with amazing strategies, you can suddenly lose all your funds by trading with a fraud broker. If you were scammed by a GFX scam broker and didn’t know your options to recover funds, read this article to the end to learn how.

Common Signs of a fraud broker in Action

  • Appropriate authorities have issued a warning like FCA, ASIC, CySec, SECCetc about the broker.
  • The broker tricks you into depositing, again and again, to withdraw your funds.
  • The broker’s website is a clone of the website of a legitimate broker. They lifted the design and content exactly.
  • When you want to withdraw your money, the broker does not allow you to do so.
  • The broker isn’t registered by any known and established authorized regulating authority.
  • The broker suddenly closed its website and did not pick your calls or reply to your messages.
  • Your account was frozen all of a sudden.
  • The broker pulls out money from your account without your permission.
  • Bonuses and trading conditions offered ultimately end in scams.

How to recover fund lost to GFX broker scam

recover funds from GFX Broker Scam
  1. Report the broker to the appropriate authorities;
  2. If you used a credit or debit card, contact your bank to request the blocked transactions; request a chargeback.
  3. Check that the Forex broker is regulated so that you can rely, if possible, on the country’s supervisory body;
  4. Contact a Fund Recovery Expert experienced in Forex because a professional will know how to file a Chargeback and retrieve your funds.

You can hire an experienced Fund Recovery Expert on Duolabs. Duolabs is an online service with various Recovery experts for hire, Bitcoin, Crypto Wallet, Funds, etc. With over 700+ Forex funds recovered, you can trust the professional on Duolabs to recover your funds lost to the GFX Broker scam.

What is a Chargeback? – recover funds from GFX Broker Scam

A chargeback is a reversal of a credit card transaction. When you ask for a refund from a merchant, that is also a chargeback. A chargeback process is not a straightforward process. However, some chargebacks are easier to obtain than others. You only get one chance to make a chargeback claim, so getting it right with your first shot is important. Most people don’t have experience filing a chargeback and may not know bout the various types of chargebacks, documents required, and the challenges they may face to file for a successful chargeback.

Therefore, consumers need to enlighten themselves about chargeback and hire a Fund Recovery Expert to assist them with industry-proven tips to file for a successful chargeback. Duolabs can provide you with professionals to improve your chances of recovering your money. In addition, with extensive experience with the chargeback process, the Fund Recovery Expert you hired from Duolabs can retrieve funds from various scams.

Different types of Chargebacks -recover funds from GFX Broker Scam

There are different types of chargebacks. What differentiates the various types of chargebacks is whether or not the customer authorized the charges. It is considered a fraud if the transaction was not authorized. Unauthorized transactions (fraud) are relatively easy to get back if you prove that you didn’t authorize the transaction.

The other type of chargeback definition involves a dispute. Even if you feel the other party is a scam, the bank does not agree with you since this doesn’t fall under the bank’s definition of scam since the transaction was authorized regardless of what happened later.

A dispute arises when the customer does not receive the purchased product or service. In addition, for a disputed chargeback to be successful, you have to prove that what you received is different from what you ordered. You must provide documentation and photos to prove the product was inadequate. If it was a service rather than an item, you must show that the service was deficient. Some of the documents may include:

  • Photo evidence of the product or service
  • Product description or advertisements
  • Copy of all communications with the merchant
  • Documents relating to transaction history
  • Terms and conditions or contracts

The items listed above are a partial list of the things someone should be prepared to provide in the chargeback process. A Fund Recovery expert may suggest you prepare additional documents to help your case. The quality of the evidence is a huge factor in whether a claim is successful or not. 

Recover funds from GFX Broker Scam

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