Forex Scam - Recover your lost funds | mikov & attorneys
Forex Scam – Recover your lost funds | Mikov & Attorneys

Law Firms’ Network against Forex scam in Europe

Financial Fraud Lawyer Law Firms’ Network was founded by Law Firm Mikov & Attorneys to represent victims of Forex Scam in Europe.

The founder of this Network is Konstantin Mikov, managing partner of Law Firm Mikov & Attorneys. Konstantin Mikov is the head of this Law Firm Network build for positive outcomes of forex scam and other financial dispute resolution.

« I practice law for more than ten years, and I have specialized in financial disputes against the most prominent European and worldwide regulated financial brokers and Forex scam.

The Financial Fraud Lawyer’s Network of crypto lawyers and fraud lawyers specialize in financial dispute resolution, Forex scam. Thank our experience and knowledge, we successfully represent our client victims of forex scam in France, Bulgaria, and Cyprus and all Europe to recover their funds.

Thanks to the Network, we can answer more European traders needing legal representation against Forex scam and financial brokers’ misconduct.’’ Konstantin Mikov

If you are a victim of a Forex scam, you need legal assistance from a legal expert to represent your best interest.  Before contacting our Network, please consult our FAQ page and write us via the contact page and provide accurate information about the Forex scam.

How to identify or avoid a Forex scam?

1. Does your Forex broker have the required license to operate within the European Union?

Many Financial Brokers will claim they have their offices in London when they don’t conduct forex scams.

 

When it comes to Forex scam, most of the time, the lost funds pass through different jurisdictions such as Malta, Cyprus, Israel, Marshall Islands. Forex scams are necessarily international.

 

The CySEC – Cyprus Securities and Exchange Commission – inform investors about new forex scams from websites that claim to be regulated in Cyprus. Such Forex scam companies claim to be in Cyprus as many regulated Forex brokers are located in Cyprus.

 

If you think of investing money in the Forex brokers platform, the first step to spot a Forex scam is to verify if they have an authorization for the provision of investment services and the performance of investment activities from a Market Regulator. If you are in Europe, the financial broker needs to be regulated in the EU. If it does not, it is more likely to be a Forex scam.

 

To spot a potential Forex scam from a broker claiming they are regulated with the CySEC or in the EU in general, you can search their name in the Cyprus Securities and Exchange Commission CIF REGULATED ENTITIES LIST: https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/

 

forex scam - how to identify or avoid a forex scam | mikov & attorneys | financial fraud lawyer
forex scam – how to identify or avoid a forex scam. screenshot from cysec

Forex scam – How to identify or avoid a Forex scam. Screenshot from Cyprus Securities and Exchange Commission, July 2020

Financial Fraud Lawyer uses experts in European law and a European network of experts in Forex scam to recover lost funds from Forex scam and deconstruct illegal and fraudulent schemes.

 

Victim of Forex scam in or from the UK?

Note that Forex Financial brokers can only offer financial products and services in the UK if they are authorized, registered, or approved by FCA. If they do not have authorization or registration, it is more likely to be a Forex scam.

 

To spot a potential Forex scam from a broker claiming they are located in the UK, you can search their name in the Financial Conduct Authority Services Register: https://www.fca.org.uk.

 

FCA record will show details on a Financial Broker providing services in the UK. It will help traders prevent investing in Forex scam, thanks to the fact that they will show information on firms regulated by the FCA or that had canceled or stopped being regulated.

forex scam? how to spot them. screenshot from FCA Financial Conduct Authority Services Register, July 2020
Forex scam? How to spot them. Screenshot from FCA Financial Conduct Authority Services Register, July 2020

Forex scam? How to spot them. Screenshot from FCA Financial Conduct Authority Services Register, July 2020

Forex scam main signal: Pressure to deposit money

A so-called financial broker taking part in a Forex scam will use dishonest and illegal practices to make traders lose money. Forex scam doesn’t target only inexperienced forex investors. In most cases, victims of forex scam realize only after months that financial brokers manipulated them.

Some examples of Forex scam techniques used by online forex entities are as follows:

  • Establishing a “friendly” relationship with the potential victim
  • Reliance on the advice of the account manager
  • Promises of forex bonuses, profits or conditional gifts
  • Making up of false urgent situations
  • Pressure to “recover” after losses, etc.

The trading website will often attract traders with false promises before they finalize a Forex scam.

Customers and traders report various forex scams practices to Financial Market Regulators and Forex Peace Army website. In general, the Forex scam website encouraged traders to invest significant amounts on the forex markets and then make them lose all their investments.

Some examples of Forex scam illegal practices according to European laws:

Inappropriate advises or strategies

  • Impossibility of withdrawing the invested funds
  • Ambiguous or even misleading information
  • Aggressive investment advice
  • Dysfunction of the platform or irregular execution of orders etc.

Victim of a Forex scam, what should I do?

 

It is crucial to stay reserved towards a company or Law Firm that guarantees the resolution of a forex scam without analyzing your situation.

Our Network Financial Fraud Lawyer identifies the right legal actions and processes to resolve a Forex scam in the first meeting.

If you have been the victim of a Forex scam, our lawyer will aim to put you back in the position you would have been in if the Broker had not got it wrong.

Our Law Firm provides services and expertise to:

-Non-European residents against European Union regulated Brokers

-European residents against European Union regulated Brokers

-European residents against worldwide regulated Brokers

Also, the facts for the forex scam should not have originated more than five years ago, and the forex scam lost fund should not be less than 30 000 USD/EUR.

Our Law firm doesn’t accept every Forex scam case. Therefore, The preliminary consultation is not chargeable and aims to identify whether Law Firm Mikov & Attorneys could take the Forex scam case or not.

If your forex scam can be handled by Law Firm Mikov & Attorneys, you will inform you of the terms condition and fees after we have verified your documents in the preliminary consultation.

If the Financial Fraud Lawyer network accepts to represent a victim of a Forex scam, it means that we believe that there is good chances to recover the lost funds.