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World Traders Recovery claims to have an 82% success rate getting money back for clients from fraud, particularly binary options scams. This statistic is quoted throughout the website, but it is not validated with evidence. It claims to provide fund recovery services and seems to focus on binary options frauds and forex trading scams, but it mentions other types of frauds as well.
World Traders Recovery said it was founded by a person named Benjamin Waite, which is a pseudonym. They claim they have to hide the identity of their team members and location because of fear of retaliation from binary options companies. Although this may be true, it does create a situation in which the consumer cannot research the company adequately or feel there is transparency about their identity.
In addition, we noticed that the wording of this website, down to the 82% success rate statistic was identical to some other fund recovery sites. Having multiple sites and a lack of transparency about the identity of the founders may not necessarily be a sign of fraud, but it does not inspire confidence. However, it does have a selection of plans, including one that only takes money from clients if funds are recovered, so there are some good points to this service as well.
Is World Traders Recovery legitimate and reliable or is it a scam? We investigated the website, reviews, and other sources and have created this review of World Traders Recovery as a guide for consumers who want to recover funds from a forex trading scam or other frauds.
In the “About Us” section, World Traders Recovery says it was founded by “Benjamin Waite (pen name).” The term “pen name” is used specifically for authors and the term they were looking for was “pseudonym,” but that is just one of many examples of awkward English usage on this site.
The story is this Benjamin Waite once worked for a binary options company, saw what they were about, and decided to help victims of these scams. The reason for anonymity is fear of retaliation by binary options companies. This may be a reasonable fear, but it means that consumers can’t research the service.
Transparency is an important aspect of financial services. People who have been scammed out of their money do not want to be cheated a second time by phony fund recovery services. They need to research a company to ensure that there are real people behind it who have credentials in the financial industry. The fact that there are so many black boxes with World Traders Recovery can create suspicion in the minds of visitors.
In addition, some of the website copy, including the description of why the service has to be anonymous, is written verbatim on certain other sites. This other site also quoted the success rate at 82%, which is on the high side and is not validated. One wonders what is meant by “success” as well. In addition, it claims that 94% of its winning cases are 100% successful, which implies that all of the funds were recovered. This success rate is far too high to be taken seriously. Excessive hype and extravagant claims are not positive signs in a fund recovery service.
The website content is unsatisfactory. The home page font is so small it is hard to read. It is also not well-written. The site is confusing and not user-friendly and the content is not categorized well. There is a “follow us on Facebook” button that does not lead anywhere. When we went to Facebook and searched for the group, it wasn’t there.
Another button was labeled, “File a Case for Inspection” which isn’t the right English word. The visitor arrives at a page with a form on it and is told they can apply if they have lost at least $3,000 in a bank transfer or $10,000 through a credit card.
There are terms and conditions on the website which say that an account can be canceled without prior notice and for any reason. In addition, it also states that any of the terms and conditions can be changed without warning or justification. This is an agreement that is not fair to the signer in any circumstance.
Also, the terms and conditions give away that this is a duplicate of another site because it has the name of the other site, Winchargeback, on the document. This explains the duplicate content on other web pages.
There is no information about fees, accounts, and commissions on the website. Some fund recovery services have a No Win, No Fee policy that has no upfront fees and a rather high commission. Others have a low commission but require fees upfront.
There is no way of knowing which fee structure or plan World Traders Recovery offers. A visitor is simply given a form to fill out. This means they will give World Traders Recovery their email and phone number without finding out any more information about their services.
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After examining the World Traders Recovery website, reviews, and other sources of information thoroughly, our experts have concluded that we cannot recommend using World Traders Recovery for fund recovery.
There is no way of finding out who is behind this site or their credentials. Its content was copied from another site and even then, the content is sub-par. There are extravagant unsubstantiated claims and no information about fees, commissions, and accounts. According to the terms and conditions, the site has virtually no responsibility to its clients.
Although World Traders Recovery may be a legitimate service, it is not clear why it would be worth the risk. We recommend those seeking fund recovery from forex trading scams and broker frauds look elsewhere.
As an alternative, Fund Recall experts have extensive experience in the area of fund recovery and examining scams as well as legitimate companies and services. We counsel people who have lost money to forex trading scams, crypto scams, and other types of fraud.
If you have a dispute with a merchant and are seeking a chargeback, don’t give up hope of getting your money back. Fund Recall experts are well-versed in the negotiation process. We have the contacts, the technology, and the skill to improve your chances of getting your funds back.
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