Recover Funds Lost To VMC Global Scam: VMC Global presents itself on its website as one of the most successful global CFD brokers – with over 200 thousand traders on the platform. VMC Global claims to be licensed in various jurisdictions: Cyprus, Mauritius, and Belize. More on their regulatory status later.
Over 120 underlying assets can be traded: stocks, currency pairs, indices, crypto coins, ETFs, precious metals and energy commodities, with a choice of three account types, leverage as high as 1:500 and a professional web-based platform.
Everything mentioned above may sound truly inspiring, only if they were true. The major lie VMC Global told is their claim of being licensed. However, they are already exposed as a scam by the Financial Supervisory Authority in Sweden (Finansinspektionen – FI) and Cyprus Securities and Exchange Commission (CySEC).
Recover Funds Lost To VMC Global Scam
VMC Global claim to be regulated by the Financial Commission in Mauritius and Belize does not change anything, for this is another false claim. VMC Global is an unregulated broker; therefore, it risks all investments made.
You might as well be burning your money in flames if you invest in an unregulated broker. Before investing in a brokerage platform, we urge you to check if the broker is licensed. This is very important! Usually, those with an FCA (Financial Conduct Authority for the United Kingdom) and CySEC ( Cyprus Securities and Exchange Commission for Cyprus) license are the ones you should look out for because these two regulatory bodies are the best at what they do.
For a broker to be licensed by either FCA or CySEC, there is a list of crucial requirements in their regulatory repertoire that all brokers must meet before a license is issued and must follow after a license is issued. What’s more, the FCA and CySEC and others have included compensation funds. This is like insurance of the funds of users under the brokerage platform. Simply put, the users will be reimbursed up to a point should the broker become insolvent.
Scam Warning Signs to Look out for on Online Trading Platforms
- VMC Global restricts access to your account or blocks your account.
- VMC Global offers you a bonus that seems too good to be true.
- VMC Global is asking you to deposit more money when you want to withdraw or after you lose a large sum of money.
- VMC Global froze your account.
- VMC Global took money from your bank account without your permission.
- VMC Global’s website has been taken down.
- You can’t reach the customer care service centre of VMC Global.
- VMC Global took money from your account for no reasonable course.
How to recover funds lost to VMC Global scam
- Reporting To The Local Police:
Contacting the local police can be an important method with little chance of working. However, this should always be your first line of action on the list of how to get your money back from scammers. Generally, whenever you are scammed, be it on forex trade or you have been deceived in a business transaction, you should contact the police.
However, your local police have some limitations; they can not catch a thief out of the country or outside its domain of operation. So if the broker is located in your country, there is still some chance that the police will apprehend them. The reason for informing the police is to create awareness of the scam in the community so others won’t fall victims. Informing the police is also important if the scammer is apprehended later, and maybe reparation is considered.
- Hiring Fund Recovery Experts:
When you contact a fund recovery expert to file a complaint against a forex scammer, your chances of getting your money are very high. The service of recovery experts is not country-limited. A fund recovery expert in the United Kingdom has enough resources to track down a forex scammer in the United States or anywhere in the world.
The Fund Recovery expert can assist you in your fight toward a successful chargeback with your Finacial service provider. A chargeback is a reversal of a credit card transaction. You have to structure a report to convince your financial provider that you were scammed. Please resist the urge to file for a chargeback yourself, you only have one chance to request a chargeback from your Bank or Finacial service provider, so you have to do everything to make it count.
A Fund Recovery expert is a group of Lawyers, data recovery experts and financial advisers, so a Fund recovery personnel is trusted to put down a well-structured report to file for a chargeback.
You can hire a Fund 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 your lost funds from the VMC Global scam.