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Frequently Asked Questions

Do you have questions about how to know if you were actually scammed? Can you still get your money back? What's the process like? How long does it take?
We cover these topics and many more in this FAQ page, browse through them and we believe you'll find everything you need. Got a specific question you think should be here? email us on info@topchargebacksites.com and we'll answer it comprehensively.

What types of scams are there?

Online trading platform scams have become commonplace with trillions being invested daily in Forex, Binary Options and Cryptocurrency.

Fraudsters promote their fake online trading platforms advertising online, with the promise of high returns with low risk.

Binary options are a form of fixed-odds betting, a trade involves whether an event will occur or not with the outcome being either ‘yes’ or ‘no’. 

These fraud, unregulated binary option brokers offer you a quick, profitable return with an immediate bonus on an easy to manage binary trading platform.

However, the software is nothing more than a ‘Video’ game, manipulated to distort prices and payouts, without notice your account will be closed and all the money you invest will go straight into the fraudsters bank account.

No trading rules or procedures are being followed and the gains and losses made are all imaginary.

Forex Trading is a decentralised global market where all the world currencies trade.

It is the largest market and most liquid in the world in terms of total amount of cash traded and is unregulated, this can make it a haven for fraudsters.

Fraudsters continue to tempt investors with a promise of quick fortunes through ‘secret trading formulas’ or algorithm-based ‘proprietary’ trading methodologies or ‘forex robot’.

But beware the systems and formulas used by the fraudsters are untested and have never been reviewed by an independent source, they are all scams created so you will lose your investment.

With the virtual currency market reaching a capitalisation value of nearly $2 trillion dollars this has led to a host of cryptocurrency scams emerging.

Including ‘Pump & Dump’,‘Investment Clubs’,‘Fake Wallets’ and ‘Ponzi Pyramid’ schemes.

How do I know if I got scammed?

Anybody can fall victim to an online trading scam. We all lead busy lives and we’re continually bombarded with “approaches” from scammers – it only takes a moment of inattention to fall into a trap.

The Financial Fraud Research Centre have found Americans lose $40 billion to $50billion a year to investment scams and contrary to popular perception its not just the most vulnerable or gullible in our society who fall prey.

Professional con artists are just that – professionals – they are extremely good at what they do – be it forex trading scams, binary option scams or cryptocurrency scams.

But there are obvious signs when you have been scammed as outlined below.

If the relevant person or firm you are dealing with stops answering emails or calls that maybe a sign that something is a-miss and you are dealing with a fraudster.

Another sign of a scam is where you don’t receive regular trading account statements or the statements you do receive show unexplained losses.

At the start of the process you may see gains being made and the fraudster will try and entice family or friends to join, they might also advice aggressively about investing in certain ways, this is all part of the scam.

Also, with these fraudsters there maybe unexplained issues when you try to make withdrawals again this is an obvious sign of a scam.

If your account is suddenly closed with no access this is normal procedure with these fraudsters, you’ll find all your investments have been deposited into the fraudsters bank account and they have disappeared without a trace.

Bottom line unfortunately with these scamsters is that they are after your monies by whatever means possible.

Remember when trading in forex, binary options or cryptocurrency always trade safely.

What can I do about it?

If you are a victim of an online trading scam, don’t panic there are professional fraud-recovery outfits that are here to help you recover your monies as outlined on this website.

Each one has experience of dealing with banks, credit card companies and unregulated trading companies in the fight against fraud.

They have processes in place to help you recover your monies in a quick and efficient manner.

In place they have skilled teams who are here to listen to your story and to help support your every step in recovering your monies.

If you have been a victim of a Binary Options, Forex Trading or Cryptocurrency scam and the trading account has been loaded with a credit card, you can use the ‘chargeback’ procedure to recover your monies.

Chargebacks are a form of consumer protection the chargeback process is naturally skewed towards the cardholder’s safety.

The first step you should ensure you make is not to invest anymore monies in what is now an obvious scam.

Secondly it is imperative that you keep all trading account statements, bank and credit card statements, copies of all documentation including emails from the firm you have been dealing with.

Also make careful notes including names, addresses that you have and any information you have shared passwords, pins, bank account or credit card details.

How many investments you have made and how much each time has been invested.

What’s a chargeback?

A chargeback voids a card transaction, applying credit to the consumer’s card statement, withdrawing funds that were previously deposited into the merchant’s bank account.

They differ to refunds in that the consumer goes directly to the bank to forcibly request funds be removed from the third parties account.

If the bank believes the cardholder’s request is valid, they will remove the monies from the merchants account.

There are two main types of chargebacks, one where fraud has taken place, for example where you have lost your credit card and someone is using it without your knowledge.

Filing chargebacks on fraudulent card transactions can help innocent victims recoup their money

Criminal fraud flourishes in society; chargebacks also help with online fraud, including helping investors recoup monies scammed by unregulated brokerages & companies who are trading in Binary Options, Forex Trading or in Cryptocurrency illegally.

Chargebacks also serve as a deterrent to merchants, where the precise service you contracted was not provided or the product bought is not up to standard.

This threat of chargeback helps keep merchants reputable.

How does it work?

Reputable credit card companies like VISA and Mastercard have a 120- day window from the date of the transaction for a chargeback to be applied.

In certain conditions this window can be extended up to 540 days and laws in other jurisdictions can provide even more time.

A chargeback is triggered once the cardholder submits a request to raise a dispute with the merchant to the bank that issued the charge card, this bank is known as the issuing bank.

If the issuing bank deem it a valid request it will raise a dispute with the merchant’s bank through the credit card company’s dispute resolution scheme.

This alerts the merchant’s bank known as the acquiring bank and they contact the merchant, in certain cases the specific amount may be credited back into your account at this stage. 

Dependent on the credit card company the merchant has 30(Visa) or 45(Mastercard) calendar days to respond by submitting a document called a representment.

This document outlines why the merchant does not believe a chargeback is required.

If no representment is filed then the funds will be credited back into your account, if a representment is filed then the bank will contact you for a response or may respond on your behalf.

The merchant can submit a second representment based on response given at this stage and a new period of 30 days begins, this is known as pre-arbitration.

If at this stage the acquiring bank still does not accept a chargeback the issuing bank may move to arbitration. If the case goes to arbitration the dispute is looked at by arbitrators, these are neutral professionals employed by the credit card companies themselves.

Normally their decision is final, although in extreme cases it can be contested via an appeal.

This whole process can take up to six months or more depending on the complexity of the case.

Can it work for me?

Chargebacks are a form of consumer protection the chargeback process is naturally skewed towards the cardholder’s safety.

If you are a victim of online fraud be it unauthorised transactions, investment scammers or unscrupulous merchants who have not provided or delivered the contracted service, then a chargeback maybe your fallback option.

How do I know its not a scam?

Why are there initial fees?