Suppose you were a victim of the Cash FX scam. Read this review to get an insight into the company and the solution to the problem.
What is a broker Cash FX?
Cash FX is an online Forex and CFD trading provider established in 2019 in Panama. As you can already guess from its headquarters, the broker has no regulations, and it’s hiding in this offshore safe haven on purpose. In fact, it has been blacklisted by authority bodies all around the world, so it’s clear you’re dealing with a scam. For more information, check out our Cash FX review.
How can Cash FX take your money?
While we believe you have experienced fraud yourself and are already aware of all the ways a scammer can steal your money, let’s talk about Cash FX. The company is advertised through fraudulent ads such as BitcoinEra and Tesler, promising insane amounts of profit if you start with as low as $300.
Allegedly, the broker holds EA algorithm software and AI technology designed to predict the market and find the most successful trades each day. If only…
Once you agree to deposit the money, you’ll receive numerous calls from someone presenting themselves as your personal account manager. This person should take you through the software and show you how to set everything up according to your trading ambitions and financial goals.
Yet, the only thing to happen is that you’ll be pressured to invest more money because it’s never enough, and there’s always a new opportunity. Still, you need more capital or a more considerable margin.
Whether you invest further or not, all your problems will start once you ask for a payout. You’ll be delayed and lied to until the point where you can no longer log in to your trading account. This is when you’ll understand that you have been a victim of a Cash FX scam, and you need a solution.
Cash FX Warnings
As aforementioned, Cash FX has been blacklisted by several regulatory bodies.
We’ve got warnings from the UK FCA, Australian ASIC, New Zealand’s FMA, South African FSCA, Irish Central Bank, and FI of Estonia.
All of these warnings contain the same – Cash FX or Cash FX Group is a fraudulent trading firm not registered in any of these countries. The broker has defrauded many, and while victims are not entitled to a regulatory compensation fund, anyone involved should file a report immediately. Furthermore, regulators urge everyone not to accept offers coming from this investment firm and avoid being scammed.
What to do if you have already gotten into the hands of a scammer?
First of all, you should avoid Cash FX by all means. If, however, you have already been involved with the brokerage, you need a solution. As you had a chance to see, going to a regulator is impossible with the company being illicit.
Therefore, you need to file a dispute and request a chargeback. This is a way for your bank to track the funds to the merchant and get them back. Of course, it’s possible only if you can prove you have been a scam victim. For more information and assistance with this matter, feel free to contact us using the following link: https://scambrokersreviews.com/contact/.
Book a free consultation with our specialists and ensure your dispute is successfully resolved. Don’t let scammers run with your hard-earned money. Use every possible tool to get it back before it’s too late.