5 Ways To Spot A Scammer

How To Recover Funds Lost To Derico Forex Broker Scam

Recover Funds Lost To Derico Forex Broker Scam: Darico is a forex broker. Darico offers the MT4 and MT5 forex trading top platforms. Darico.io offers over five forex currency pairs, commodities, stocks, indices, ETFs, gold, silver, oil, bitcoin and other cryptocurrencies for your investment and trading options. 

Darico Broker tells clients to deposit in cryptocurrencies instead of fiat ( this is kind of a red flag since Cryptocurrency is not considered a secure payment method in the investment market). There is a $100 welcome bonus, although there is no specification on the minimum deposit. Darico is based in Gibraltar, and they have an office in Switzerland allegedly.

Darico is a CFD broker, and the general rule for CFD brokers is that they have to be licensed. This is the law in most countries, including Switzerland. This is because CFDs are securities, and securities trading is regulated everywhere.

Darico AG is registered in Switzerland as a company that provides IT services, not brokerage services. Moreover, the Swiss National Financial Regulatory Authority (FINMA) did not give Darico a license to provide investment or any form of financial service.

Recover Funds Lost To Derico Forex Broker Scam

What does this mean? It means that Darico is an unlicensed and therefore illegal broker that is breaking the law in many countries where it is seeking and having customers.

Clients’ deposits are not insured since there is no supervisory or regulatory body that Darico answers to. Darico can do whatever they want with clients’ funds. It could disappear with all your money, and no one will hold them accountable.

Authorities in charge of financial activities exist to protect people, it is not guaranteed that a broker won’t become insolvent, but it minimizes the risks and funds are insured.

With Brokers that are unregulated and unlicensed like Darico, you are exposed and unprotected from risks that are out of your control. This is why you should avoid unregulated brokers.

And here is another thing to consider in this Darico review. Since the broker is literally breaking Swiss laws, how honest and trustworthy can it be? We’ll leave the answer up to you.

Recover Funds Lost To Derico Forex Broker Scam

How to recover Crypto Sent to Derico 

Derico accepts cryptocurrency as a form of payment. Recovering funds sent via cryptocurrency used to be impossible because of the way the Blockchain works. There are new techniques professionals use to recover funds sent through cryptocurrency. 

You might have heard of the Colonial Pipeline ransomware payment of 75 bitcoins, or around $5 million then. The FBI could recover up to $2.3 million, which was not possible doing the earlier days of crypto. You also can hire a Crypto Recovery expert to trace and recover the money you sent to the Kuvera crypto address. 

You can hire a Cryptocurrency recovery expert from Duolabs. Duolabs is a trusted platform where you can hire different recovery experts such as Funds, Data, Cryptocurrency Wallet, Bitcoin, etc. With over 500+ satisfied customers, Duolabs can be trusted to recover the money you lost to the Kuvera scam.

Here are some reviews from forex-peace-academy where customers narrate how they were scammed by Kuvera;

The first one is Oleg Paladi, from  Falesti, Moldova,

March 10, 2020, I worked with this company(Kuvera). Everything is fine until you register withdrawal, then no one responds to your messages. Nor did the depot want to return it to me, and I wrote to them that I was writing a complaint to the police and the deposit was still not given to me. Do not expect to receive a profit from them. It’s a scam company

Feb 28, 2020, I deposited with them and made some profit. I have registered for withdrawal, and I have waited for many days. I’m waiting to see if it will give me the profit, then I’ll add another review. Until I was disappointed with them, I deposited with bitcoin, which is now cheaper.

Another one is from Sergyrus from Portugal;

Broker does not respond to withdrawals. 

Careful this broker does not allow you to withdraw your money and stops responding to emails. 

This broker does not respond to my emails, and I cannot withdraw funds from the MT5 trading account.

The account was registered on 11.12.2019.

The first Deposit of 0.02070856 BTC was made on the same day.

On 13.02.2020, another Deposit of 0.1985 BTC was made.

After successful trading on 25.02.2020, I applied for a withdrawal of 0.019 BTC.

On 26.02.2020, they replied as follows: Hello Sir,

We have received your withdrawal request no 2082; the compliance team is currently checking your account due to unusual activity, and the request will be processed upon confirmation.

Thank you,

Darico Team

29.02.2020 I wrote to them: Hello. How long does it take to withdraw funds? Withdraw from account No: 530192 (BTC). Thank you.

No answer.

Another 05.03.2020 wrote the second email: Hello. Since the withdrawal delay has been delayed and this is very suspicious, I will expect results from you for another week. If the withdrawal request is not processed, I pass the information and data to my lawyer, who will start dealing with this case.

There is no answer either.

After that, I began to doubt this broker, and on 01.03.2020, I applied for withdrawal of all funds Amount: 3.78 BTC.

So far, none of my requests on the BTC account have been withdrawn.

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