Read our Ecap24.com review to find out if we recommend this broker for trading. This is an Ecap24.com review to dispel any worries.
Who exactly are they?
A look at their website reveals that they are not governed by any regulatory body. That is a VERY BIG RED FLAG!! That should be reason enough not to invest with them. They also collaborate with websites that provide “Automated trading software,” which is another red flag because these websites are renowned for scamming schemes.
So Ecap24 is just another unregulated forex broker, which means consumers are unprotected, and it is quite likely that they will get away with your hard-earned money with no governing body to hold them accountable.
How does it work?
Unregulated forex brokers typically operate as follows. They will phone customers and attempt every feasible means to encourage them to pay the initial minimum deposit. They will offer deals that appear too good to be true, such as “we will triple your initial deposit” or “you will easily make $100 daily.” Please don’t believe anything they say!!! It is a SCAM! After making their first deposit, customers are passed to a skilled fraudster known as a “retention agent,” who will try to extort more money from you.
Because your assets are never safe with an unlicensed broker, you should submit a withdrawal request as soon as possible. And this is when things become complicated.
If you try to withdraw your money, regardless of whether you have earnings or not, they will postpone the procedure for months. If they postpone it for six months, you will be unable to submit a chargeback and your money would be lost forever. You will NOT get your money back, no matter how many times you remind them or insist on removing it. And if you signed the Managed Account Agreement, or MAA, which basically authorises them to do whatever they want with your money, they will lose all of your money, so there will be nothing to request.
How do you reclaim your money?
If you have already placed money with them and they refuse to return it to you, which is extremely likely, don’t panic; there may be a way or two to get your money back.
First and foremost, you must save the emails as proof that you have requested the money back from them but that they have refused to provide it to you or have delayed the procedure for too long with the goal of not refunding your money.
The first step is to perform a chargeback! And you should do so immediately! Contact your bank or credit card provider and explain how you were duped into putting money with an unregulated trading company that refuses to return your money. This is the simplest approach to get your money back, but it is also the most damaging. Because a large number of chargebacks will damage their relationship with payment service providers. If you have never done this before or are unsure where to begin or how to present your case to your bank or credit card provider, we can assist you in preparing your chargeback case. Simply email us at [email protected], but do not tell your broker that you read this post or that you are in communication with us.
What about Wires?
There is no method to do a wire chargeback if you sent them a wire. This step requires you to take the fight to a higher level. Inform them that you will submit a complaint with the appropriate authorities. That will cause them to reconsider the refund option. Another thing you might do is write a letter or send an email to the regulatory agencies. Depending on where you live, you can use Google to identify the country’s regulating agency for Forex brokers. After then, you can write a letter or send an email outlining how you were duped by them. Make sure you show them this letter or email, and inform them you’ll send it to the regulatory agency if they don’t refund your money. If you are unsure where to begin, please contact us at [email protected], and we will assist you with this stage as well.
Make sure to leave Ecap24 reviews on other websites.
Another option to punish them and prevent others from becoming victims is to submit negative reviews on other websites and detail what happened briefly. If you have been a victim, please submit a review and a comment in the comment box of this website. Also, when these folks change their website, they tend to call existing clients, so if they call you from a new website, please write it down in the comment or let us know by contacting us. That would be much appreciated by us and families all throughout the world. Also, if you receive phone calls from other companies, please include their names in the comments or forward them to us. We’ll also expose them.
Ecap24 Review Conclusions
It is a joy for us to write the Ecap24 review, and we aim to stop as many people as possible from losing their hard-earned money. A good rule of thumb is to thoroughly research all Forex companies, as well as any other company, before engaging in any transaction. We hope our Ecap24 review was useful to you. If you have any questions or require assistance with the withdrawal procedure, please contact us at [email protected].
If you want to trade, please choose a reputable, licensed broker.