Recovery scams are deceptive schemes that exploit victims of previous frauds by tricking them into giving away money. These fraudulent tactics are prevalent in a variety of fields, particularly the online trading landscape. Over the years, many unsuspecting brokers have fallen victims to reputation blackmail by sites such as Forex Deposit Bonuses. These sites operate with the intention of swindling away broker’s money by posting negative reviews about them.
My purpose to write this piece is to unmask Forex Deposit Bonuses and other sites following the same practices. Doing so can help protect brokers and their users, ensuring their funds and reputation remain safe.
An Elaborate Scheme
Fraudsters like Forex Deposit Bonuses create an elaborate scheme to scam brokers off their money. They firstly create a bunch of negative reviews that highlight how bad a broker’s particular services or features are. In some cases, the sites even accuse them of being fraudulent to add further pressures. Once the brokers become aware that their reputation is being tarnished by such websites, they contact them to remove it. After that, the sites summon fraudulent fund recovery agencies that blackmail the brokers for money.
You may be surprised to know that sinister schemes like these are prevalent in the entire online trading sphere. Smaller brokers are often the main targets of such acts as they are more susceptible to budging in to the fraudster’s demands. It is important for brokers to familiarize themselves with certain red flags that can indicate the scam and steer clear from them.
Spotting Red Flags
Being able to determine if the reviews posted by Forex Deposit Bonuses are authentic or not can seem almost impossible. However, once you read enough stuff written by the site, you will begin to observe a pattern that would indicate that it is fraudulent. One big thing that I noticed while checking the reviews about various brokers is that they often looked suspiciously similar. It was like someone was actively trying to tarnish a broker’s reputation by creating a big batch of negative reviews.
I have also noticed that such fraudulent sites rarely respond to your messages or emails. It is a clear sign that they are guilty and are only out there to scam brokers. They conduct their scams by letting fraudulent funds recovery agencies do their bidding and extorting money. If brokers do not pay up, they may even threaten to post more negative content to ruin the broker’s reputation. Brokers must be wary of such sites and proceed with caution if contacted by them.
Trying to Eliminate Competition
While sites like Forex Deposit Bonuses are out there to defraud brokers and get their money, they also want to promote other brokers that are possibly funding them. This is a big reason why when you visit the website, you will notice that certain brokers are advertise quite frequently and talked about positively. On the other hand, up and coming brokers are not given too much attention. If anything, there is a visible effort to discredit them in order to remove them from the competition.
Of course, this is another red flag that shows that Forex Deposit Bonuses is running a scam operation and needs to be exposed before they cause further damage. Brokers must be quick to react to such threats to make sure that proper action is taken against websites that resort to reputation blackmail.
I will wrap things up by advising everybody not to trust Forex Deposit Bonuses as a reliable source of broker reviews. They only publish negative reviews about smaller brokers to ensure the ones affiliated with them get more users. More often than not, the brokers being sponsored by them are not even good and provide subpar features, so it is important to steer clear from them. It is clear that the site resorts to these tactics because it knows that the brokers it wants to promote do not have the best offerings in the market.