How To Recover Funds Lost To Berkley Trading Scam

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Berkely Trading website shows that they do not fall under any regulating agency, i.e. they are not licensed. That is a MAJOR RED FLAG! Another red flag is working with websites that offer “Automated trading software” which Berkley Trading does.

So Berkley is just another unregulated forex broker, which means that customers are not protected, and they will likely get away with your hard-earned money, and there will be no regulating agency to hold them responsible.

Is Berkeley Trading Legit or a Scam?

When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification(s). This will tell you whether a central authority regulates them or if Berkeley Trading Corp is an offshore and unregulated entity.

When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse if your funds are compromised. In the event of theft, complaints can only be made if the regulator in your jurisdiction licenses that broker. Some examples of regulatory authorities that issue brokerage licenses are:

The Cyprus Securities and Exchange Commission (CySEC)
Commissione Nazionale per le Societa e la Borsa (CONSOB) for Italy
The Financial Conduct Authority (FCA) – for the United kingdom
The Australian Securities and Investments Commission (ASIC)
The National Futures Association (NFA) – For the United States

Suppose the regulatory authority in your jurisdiction does not license a broker. That likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.

How Online Trading Scams Work

The most common online trading scams gimmick is to initially display profitable trades and exotic lifestyles from other group members that give the investor (targets) a false sense of belief and get them hooked to the idea of an exotic lifestyle and easy money. Once this confidence is established, the investor will be sold the idea of investing more money to earn greater returns. Additionally, other stimuli may also be provided to encourage the investor to get their family and friend onboard the platform.

Once the scammer thinks they have defrauded the victims of all available funds, the investor’s account will be suspended, and they will no longer have access to the funds in the account.

Many fraudulent firms will even lie to be operating under a regulated jurisdiction and display fake regulatory licenses and addresses on their websites to try and improve their credibility with susceptible investors.

Be careful and confirm your information through numerous sources. Constant alertness should be applied at all times when sending money online.

What steps to take to recover money lost in trading

Report the broker to the appropriate authorities;
If you have used a credit card, contact your bank to request the blocked transactions; request a chargeback.
Check that the Forex broker is regulated so that you can rely, if possible, on the country’s supervisory body;
Contact a Fund Recovery Expert experienced in Forex because a professional will know how to file a Chargeback and retrieve your funds.

Hire an industry-certified Fund Recovery Expert on Fraud Report Online. A platform where you can hire the service of different Recovery Experts, from Cryptocurrency to Data Recovery Experts. With 500+ successful chargebacks filed by experts on Fraud Report Online, this platform can be trusted to successfully help you with your chargeback.

Some Barriers in the Chargeback Process?

In the process of filing for a chargeback, the burden is on the customer to prove that they are owed a chargeback. For the bank to take your claims seriously, you have to provide evidence that the product or service did not meet up with what a person would reasonably expect from a merchant. Evidence needed may include:

Pictorial evidence of the service or product.
Description of product or service, both what was expected and what was given.
All communication between you and the merchant.
Transaction history of sending money to the merchant with a description of the purpose of payment
The contract between you and the merchant or term of service.

The items above are a partial list of evidence that should be readily available in the chargeback process. A Fund Recovery expert may suggest you prepare additional documents that will help prove your claims. The quality of the evidence is a huge factor in whether a claim is successful or not.

It is crucial to resist the tendency to do it alone and enlist an agency’s aid. Customers making a chargeback claim may not be familiar with the process, and it is useful to work with industry experts who are accustomed to communicating with the banks so that they will understand and accept the claim.

If you are a victim of a forex scam, binary scam, cryptocurrency scam, romance scam, tax scam, pension scam, or any other scam, file a complaint against Trade360 and tell us your case. Let us help you in fund recovery!