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Zoey, JD
Zoey, JD, Attorney
Category: Legal
Satisfied Customers: 26848
Experience:  Active member of the NYS bar since 1989
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NIs this a scam?????? I have been told over and over and

Customer Question

NIs this a scam?????? I have been told over and over and over again that the only money I would need to "invest".
The only responseI got WAS by phone and claimed to be my broker, asking for an additional $5000. Minimum to continue the process- laughed when I told him I had been advised that initial $ was the total (could not even afford that). I am SOOOO
Frustrated- have asked credit card company to refund dollars, which the have, time, but it is temporary until company either does that or explains simply, by phone preferably how to proceed!
Submitted: 1 year ago.
Category: Legal
Expert:  Zoey, JD replied 1 year ago.
Hello, What brokerage firm are you investing with? What's the nature of your investment?
Customer: replied 1 year ago.
Expert:  Zoey, JD replied 1 year ago.
Thanks for the reply. Your payment for the phone call did not go through. So I will reply here on this thread. We have had complaints like yours from Push Money App before. And we get complaints about binary option brokers all of the time. Unfortunately, the odds of you getting your money back from this company is low to nil unless your credit card carrier does refund you. Here's the problem: It is unlawful for a binary broker to trade in the US or to allow US investors to invest unless the broker is willing to submit to regulatory oversight by the Commodity Futures Trading Commission. Push Money App is not CFTC regulated. That means it is breaking US law to begin with just by even letting you open an account with them. It also generally means that they are not regulated by any other country's financial regulatory authorities either, because if they were, they could be shut down and sanctioned by that government. Unregulated binary brokers make their own rules. And we hear daily horror stories like yours. Since they are not operating lawfully in the first instance, they simply suit themselves leaving investors at their mercy with little to no legal recourse except to sue them in another country to get them to honor the terms of their contract, and the only way you can do that is if you can find them in the first place. Generally they are operating from some place offshore and take pains not to give that locaction away. You need to stop dealing with them and to report them to the CFTC, to the FBI's Internet Crime Complaint Center and to the Federal Trade Commission.
Expert:  Zoey, JD replied 1 year ago.
There are scam reports about this company on the web. Here's a good one.These guys don't make their money from the software. They make their money by steering you to unregulated binary brokers and sharing in their profits at your expense.