If you win too much at binary options trading, or if you just sign-up with a broker that is a complete fraud, you might end up with your funds being blocked by those companies often registered in exotic jurisdictions. Does it mean that your money is lost forever? Not necessarily if you have topped up your account with a credit card. This payment method allows you sometimes to find a remedy to the typical binary options scam.

If your binary trading account has been loaded with a credit card, you can use a procedure that is called chargeback to cancel any fraudulent transaction and get back your money. This applies if someone has used your credit card we don’t your consent, or if goods or services for an online purchase were not provided.

Binary options scam and chargeback: does it work?

There are many instances in which chargebacks have been granted. Yes, there are companies specialized in chargebacks that can assist you in that. But it is completely possible to manage on your own, without the service cost. The procedure is rather simple. All you have to do is contact the details of the company that issued your credit card. You can also contact your bank.

You have been to write a letter that explains the whole situation, and that you are requesting a chargeback as the terms and condition of your credit got company allows you to request:

  • Transactions dates and amounts
  • The binary options trading website/company
  • Total amount deposited (and eventually the money you could get back)
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You will attach to the letter any proof you have concerning your relationship with the rogue binary options broker, such as deposit receipts, etc.

You should hear about the credit camp company within 60 days, whether it is for clarifications or to know the outcome.