Unauthorized Credit Card Charges
Forex traders are receiving unauthorized credit card charges from their brokers. The credit card fraud complaint cases are happening more often than before in the forex industry. Several brokers are doing it with intention, and other matters are arising un-intentionally, both scenarios are familiar.
You can better understand it if we can present a real-life example with you. Let’s see how it happens,
Suppose you are doing forex trading with a broker and you have deposited your money through your credit card. After a while, you saw that there are some charges on your credit card. Your broker took those charges from your account without your permission. Regardless of the amount, if you are not acknowledged about the charges, that means your broker either did it intentionally, or the system mistakenly took the charges.
Now, the first thing you can do to understand the issue is to contact your broker and ask their reply to the incident. For both cases, you there result afterward maybe like this,
1. If they took the money by mistake, then they are going to adjust the balance as soon as possible after you contacted them.
2. If they took the money and invested it without your consent, then they are going to tell that they were trying double your money but lost it all. Now they are going to ask you to reinvest more money and trade to regain what they lost.
In the first case, if they adjust your balance immediately, then there is no need to complain as they are sorry for the incident. If they are delaying the process and you got to know that they are doing it intentionally, then you must contact the credit card fraud department and tell them everything about the case.
If you have any email or any other documents that you think are necessary to prove the case, then give it to the department. It will help you to verify your case and get your money back from those wrongful providers.
As of the second case, if they took the money intentionally also your first thing to do is contacting the credit card fraud department and ask for help with the issue. Follow above mentioned steps and give them as much detailed info as you can. Make sure that you dispute the charges that they make you wrongfully.
Trusting a forex broker with your credit card is not very safe in any circumstances. Do not rely on brokers who are not familiar enough or have no reputation in the industry. You can understand by searching their name on Google, and you will get everything you need to know.
Before investing or agreeing with any broker, you need to know themselves well by reading reviews and discussions about that broker. Experts are always recommending to start a forex broker that has enough popularity, reputation, and activity with their traders.
If you are getting confused about how to deal with unauthorized credit charges, then we have an excellent resource for you to follow. Read it here.