Investing is risky and you should always do your due diligence before investing.

As a rule of thumb, in investment trading, 

if an investment opportunity sounds like it has a high return and almost 0 risk, then it's probably a scam; 

and if you're doubting whether a trading site is a scam, then it probably is.

When you have already encountered a cryptocurrency scam or other investment scam, our advice is as follows:

1. Immediately save all evidence such as all trades, money transfer records, wallet addresses, their website/company information, all your correspondence/emails with them.

2. Continue to talk to the scammers and try to withdraw your funds, transferring money out of the infected cryptocurrency wallet to ensure that the scammers do not have access to the funds.

3.Report the scammer's wallet address to the exchange where you purchased the cryptocurrency (e.g. Binance, Coinbase, etc.) and ask if they can help.

4. Contact your bank or credit card company and if either is involved in any transactions used to purchase crypto, report the scam and ask if they can help.

5. Report the scam to your local law enforcement. (you can tell us what country/region you are in so we can advise where to report the scam.)

If you are unable to get your money back, law enforcement is usually your only option. Even if they do not help you in the end, reporting the scam will at least alert them to the problem and keep them in the loop.

6. Submit a complaint on FxGecko APP and share details about what happened. Remember to provide...

A. Their website.

B. Your country/region.

C.Your account number.

D. The amount they owe you.

E. Reasons and requirements why they won't let you withdraw your money. (Keep a record of your e-mail correspondence with them)

Be careful to edit out your private information and do not post your contact details publicly. 

When you submit a complaint, FxGecko will attempt to contact the trading platform for a resolution, as well as expose the scam and warn others not to be scammed.

Reminder: Be wary of online hacks or "recovery services" that claim to help you get your money back, especially if you have to pay up front, which is a "recovery scam".

How to avoid investment scams?

Whether it is cryptocurrency trading, foreign exchange trading or other investment transactions, the types and means of scams are always endless, how to avoid it?

In fact, the essence of most investment scams is to take advantage of the asymmetry of information, the novice investor's lack of understanding of the relevant industry, the greed of human nature and people's trust in their acquaintances.

Therefore, before investing, you need to do the following.

1. Due diligence, due diligence, due diligence.

You can search on FxGecko to check the regulatory information, investor reports, risk tips and other information of global forex brokers or cryptocurrency exchanges, and choose a regulated, legally licensed, well-known and long-standing broker.

2. Don't expose your private information online to avoid becoming a target for scammers.

3. Do not send money to anyone you have contacted only through the Internet or by phone.

4. When you encounter a trading platform that promises high returns, capital protection, and stable earnings, please be alert, there is no free lunch!

5. Be wary of investment pyramid schemes, once you enter, it is difficult to exit! Even if it is recommended by relatives and friends should not be trusted, money can make people lost.

6. Learn more about the market and improve your knowledge to avoid being cheated due to information asymmetry.

7. On the network of unknown links do not easily click, to protect your accounts and passwords.

8. Know your risk tolerance and only put in as much money as you can afford to lose.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.