How To

5 WAYS TO AVOID LOSING MONEY TO ONLINE SCAMMERS

Since the advent of the internet, many tech experts and financial institutions have created (or incorporated) various trading and investment platforms that uses various tactics such as a promise of high returns and good visual representation to attract customers and defraud them.

Mostly, these fraudsters attach their ad-links on websites and social media platform that are good looking with a touch of professionalism. 

Despite advancement in information technology and cyber security, these fraudsters keep finding new ways to scam people.

Though some trading platforms are relatively safer when compared to others, no trading platform is 100% free of online scammers. 

No matter how long you’ve been on your trading platform, you are still not exempted from the possibility of being scammed.

How online scams work

Various online platforms have unique routines which the fraudsters utilize in convincing their targets that they are legit. 

The basic concept behind online scam is to first convince your target that you are legit. This often implies bringing your trading account to be as typical as possible.

They are usually corporations that have their base of operation outside the United States but would still claim to live at a significant location in the United States.

Investment scammers, for example, are often equipped with sufficient knowledge about finance and investments, well-enough to convince you to place your faith and your money in them. They are usually very articulate. 

However, the most convincing portion of their appeal is their credibility. 

These fraudsters will provide a credible website, materials and testimonials that are very much like the real ones. 

They would often top it with offers that promises high returns. Ultimately playing on your mindset of not wanting to miss out on a great trading or investment offer.

Online scammers could cold-call you about an investment opportunity or reach out to you on social media or email, or advertising on a website. 

They go as far as meeting people personally at seminars or exhibitions.

Steps to avoiding online scammers

While each investment and trading platform may differ, there are typical warning signs that are indicative of a scam.

1.Recognize the warning signs

One warning sign is limited time, where they offer you a discount if you pay before a stipulated time. 

They could also present the offer as only existing for a short period of time.

There is also unexpected contact, where someone cold-calls you or sends you a very personalistic offer via email or social media. 

Asides these, there are false social proof with fake reviews and claims that other people have put in money to invest and gotten the expected returns.

Scammers try hard at creating a sense of security between their targets and the purported scam. 

They would utilize flattery to establish some level of friendship that makes you trust them.

2.Avoid trades that are too good to be true.

If it appears too good to be true, chances are high, it probably is. You must realize that no one sets up shop on the internet or anywhere for the sole purpose of losing. 

It would be strange if a person that doesn’t know you and does not appear to be under duress, just offers you an insane trade percentage which most likely would be to his loss. 

While these trade opportunities are truly out there, they are seemingly too rare to be gambled on. 

Trading is risky, but some risks are categorized as impractical.

3.Engage in transactions with reputable brands or companies.

Over time, through consistent delivery, reputable brands gain the trust accorded to their names. 

Candidly, it may be slightly costlier to transact with these brands because of the assurance and extremely lower risk that is guaranteed. 

Nonetheless, it is financially wise to trade with reputable brands, 

especially those referred to you by your trusted friends and those you have had traded with and have delivered.

4.Research on anybody you’re giving money to.

There are databases of trading companies and registered brands available for online traders. 

Going through these lists to ascertain that the brand you’re getting in bed with is registered is the least way to get started.

You may need to get impartial advice from your financial advisor. These people are skilled to sniff out scams even in the tightest schemes. 

Along with databases of trading companies, there are also warning lists where the names of companies and brands that have been flagged as suspicious are compiled. 

This means, as a trader, if you research adequately on your investments, you will find a good number of these fraudsters before they are able to pull a scam on you.

5.Have a trusted company that majors in online scam recoveries.

There are companies that specialize in the recovery of your money in the event of a fraud. 

In spite of how careful you are as a trader, chances are, you would be hit by a fraudster at least once in your career as a trader. 

Having a trusted company that majors in online scam recoveries is your best bet of making it out of those experiences without any setback.

Companies like this are skilled in recoveries from binary scams, lottery scams, online casino scams, crypto scams, online banking scams, forex scams and others. They also offer professional advice. 

Imagine a single company that incorporates expertise in money recoveries and could also guide you professionally in trading. 

Deft recoup is one of the best and most trusted companies in recoveries. With an exceptional track record. 

The benefit of having these companies by your side cannot be overemphasized.

 

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