Recover Funds Lost To Forex Scam: EagleFX is a forex broker that started operation in 2019. EagleFX is an unregulated broker and uses cryptocurrency for account deposit and withdrawal. EagleFX has restrictions in some regions and is accepting United States traders. Traders have over 200+ CFD instruments on forex, indices, stocks, commodities and cryptocurrencies to choose from. EagleFX supports the MT4 platform, which is available for desktops and mobile devices.
The company claims to be registered at The Commonwealth of Dominica at 8 Copthall, Roseau Valley 00152. This address is discovered to be a shelf address, after a little bit of research it is discovered a few fraudulent brokers use the same address;
- OPTIONS TECH LIMITED
- Gamma Investment Corporation
Apart from the fact that EagleFX is an unlicensed and unregulated broker, which is a huge red flag – traders are advised not to trade with unlicensed brokers, EagleFX has some similarities with JAFX, which has been busted to be a scam broker. Even if the companies are operated by different entities, the nature of their business is similar.
- Tradable assets
Doing our research we discovered that both EagleFX and JAFX are offering similar products which are FX majors and cryptocurrencies. In most cases, much meaning won’t be attached to this as other brokers offer these products, but this indicates that the technology supplier of both companies is the same.
- Website look and feel
This is where things get much more interesting. EagleFX and JAFX website shares the same colour scheme, navigation and overall feel and look. See for yourself
Recover Funds Lost To Forex Scam
- Website MT4 file
To be fair, there are lots of websites that share similarities when it comes to website design. Usually, this is because a website owner can copy and tweak the useful features from another website. However if those features and similarities can be noticed across different pages of the website, it would rather mean that these websites are operated by the same entity.
Both EagleFX and JAFX websites do not host an MT4 webpage. Instead, when you click on the MT4 platform, the page will download a file on your computer. This is not a great user experience feature. Surprisingly, the downloaded file name is similar on both websites. Jafx4setup.exe for JAFX and eaglefx4setup.exe for Eaglefx.
EagleFX Review Summary
As a trader you have to be cautious, Eaglefx is a new forex broker that shares similarities with brokers that are known to have defrauded forex and crypto traders throughout the globe. And it does seem to copy most if not all of the features and elements of JAFX, a broker that shut down recently due to it being sued by the CFTC.
How To Recover Funds Lost To Forex Scam
If you have already been scammed on the platform and looking for ways to recover your money, this segment is made solely for you.
If you have lost money to forex scams don’t panic. Mistakes can happen even with the most cautious of investors and should be used as a learning opportunity. Part of the defence mechanism against scams is to never think it can’t happen to you because anybody can be scammed at any time.
As you already know, EagleFX is likely a scam and you should get your money out of the fraudulent business, submitting a withdrawal request might not be helpful because scam brokers are known to put withdrawal requests on hold forever.
Your best chance to successfully recover your funds is to hire a Funds Recovery Expert. A Fund Recovery expert can file a Chargeback or Wire Recall for your case with your Financial service provider. A chargeback is a reversal of a credit card transaction. You have to structure a report that can convince your financial provider or Bank that you were scammed by the entity you transacted with. A Fund Recovery expert can consist of 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. Resist the urge to file for a chargeback yourself because you only have one chance to file for one with your Bank, and you should do everything necessary to make sure it is successful.
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.