We have received numerous inquiries, as of late, asking us to describe in detail the “financial education” ploy that scammers often use in their attempts to expand their sales pitch and take your money.
The scam typically begins when your (alleged) account manager attempts to educate you about the two different types of analysis: technical and fundamental. He or she will speak very eloquently about the market and perhaps even show you a chart or two to make an effort and impress you. “The market is filled with opportunities, you just need to grab them”, you might hear. “C’mon, we can take this trade and make big bucks, huge profits”, and “It’s only risky if you are not educated. If you use technical and fundamental analysis there is no risk” are two more disturbing falsehoods we’ve recently heard.
Once your broker shows you the charts and the graphs, perhaps even an award-winning financial news website, they will attempt to take the sales pitch one step further and ask you to put money for a specific “event” that is “happening in the market”. In this very pushy and energetic sales tactic, the victim is manipulated into believing they can predict the market and elbowed to make further deposits to their account so they could “trade the market”.
If this sounds too familiar, know that you are not alone. There are thousands of people in your situation who unfortunately, fell victim to a clever investment scam.
Our private investigations suggest that the merchants (a.k.a the “trading” firm) that manipulated clients out of their money have no connection to any legitimate exchange or financial market. Furthermore, the “account managers” and so-called “analysts” have little to no financial training and do not carry the necessary licenses required to be handling money or handing out investment advice.
Do not despair, that’s exactly what the scammers want, for you to give up.
Whatever you were promised or told, know that there is a way to get your money back that not only puts a spike in the wheels of the “trading” websites who took your money, but that has an actual shot of returning that money to you.
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