Binary options refund is the process of getting back the deducted money in case you are scammed by any firm. The procedure is strict for you to put up a specific file claim. But before you approach it, you need to understand how binary options scammers work. They either refuse to release the funds, manipulate the price or do some identity theft. In either way, your money is stuck with the fraud broker.
The process of getting a binary options refund is by initiating a chargeback. For that, you need to contact the company that issued you a credit card or the bank and explain the situation. If it is not too late, then the bank or credit card company can reverse the payment made on your card and credit it back to your account. Once you realize the scam, you need to report the same to the concerned financial department within 120 days.
How to reach the credit card company?
You need to write a letter to the card issuer with all the case details for a refund. You can also go ahead with hiring a binary options recovery expert. The expert can help you out with filing a claim and get you the refund at ease. But, be aware of the scam situations. And for that, you should invest time in choosing the best and legit broker for your binary options trading needs.
In other cases, for getting a refund, you need to trade with brokers who are willing to give you some refund on your traded amount when you miss the trade at a close margin.