recover funds lost to Robox Trade Scam: Robox Trade is an auto trading software. It is important to say that a regulatory authority does not regulate this auto trading software. Before trusting any automated trading robot with your funds, here are some questions you must ask:
- Does the software work with regulated brokers? If the answer to this question is no, it is advised you don’t trade with that kind of software. This is because an unregulated or unlicensed broker does not answer to any authority but itself, so if you put your money on such a trading platform, you are at the mercy of the broker if you will be scammed or not.
- Can I customise the robot to my personal preference? Genuine trading software like Meta trader 4, Meta trader 5, Ninja Trader, cTrader, Tradespoon and so on has a feature that allows users to customise their trade within the software’s functionality. This has proven to be a great thing since trader still has power over the type of trade they want to execute. Dubious software won’t allow users to customise trade, maybe because the scammer is too lazy to code such functionality or want to limit traders’ power over the type of order they make, so it will be easy for the software to squander victims money.
- Are Funds Safe with this software? To know if your funds are safe, you must confirm if the software is on a licensed and regulatory forex brokerage platform. A licensing or regulatory body is the only thing ensuring your funds against scammers. So before trading on any platform, make sure it is under a regulatory body. Avoid investment companies that are not regulated because they are unreliable and will likely disappear with your fund sooner or later. Check their regulatory status and go to the regulatory body website to confirm the company claims. Find the CEO of the Investment company or Brokerage Platform and do online research on the history of the CEO to make sure you are not dealing with a fraudster.
How to recover funds lost to Robox trade scam
The major gimmick used by online forex trading scams is to display profitable trade without losses. This gives the fraudster targets a false sense of confidence and gets them hooked on the idea of easy money. Anyone can be a scam victim, so don’t be embarrassed and make sure you do everything necessary to make sure your funds are recovered.
The best thing you can do towards your funds’ recovery is file for a chargeback. A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or other payment methods. By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some or all of their funds lost.
However, filing a chargeback needs a solid strategy for your financial provider to believe you were scammed, so you need to hire a fund recovery expert to assist you in filing a comprehensive report for your chargeback. With the help of a fund recovery expert, your journey towards recovering your money will be relatively easy compared to if done alone.
You can get a competent Recovery expert on Duolabs, a leading platform for various recovery services for hire. With many satisfied customers with Robox Trade funds recovery issues, Duolabs can be trusted to help you successfully file for a chargeback and make sure your money is returned to your account.
How To Spot A Scam
Most scams out there have people asking themselves, “What is the difference between Forex and Pyramid scheme.” No, Forex is not a pyramid scheme. However, there are different types of scams within the world of Forex trading. The most important giveaway of a Forex fraudster is a guarantee of unusually large profits with little or no financial risk.
First of all: there is no such thing as a 100% guarantee. Some of these offers may sound very attractive, especially to beginner traders. But as the saying goes, the only free cheese is in the mousetrap. Here is the conclusion: if something sounds too good to be true, it probably is.
Here are a few rules to follow to avoid scammers:
- Remain safe and do not run after easy money and empty promises.
- Be especially sceptical of software that claims to have found a ‘secret formula.’
- Do not install any programs/software until you are certain they won’t damage your computer. Avoid programs sent as an attachment via an unknown email.
Another giveaway is that scammers don’t register with any regulatory authority. Remember – genuine brokers always provide proof of their legitimacy. Suppose you suspect that a Forex broker is lying about their regulatory status. In that case, you can contact a regulatory authority who may provide a list of licensed companies and a list of companies with cases with a bridge of regulatory agreement. This will help you know which Forex brokers to avoid.
How to recover funds lost to Robox Trade Scam