Fake Option Scams keep on increasing on a regular basis and Morgan Financial Recovery keeps on exposing them one by one. TorOption Scam was one such scam that was waiting to be exposed by our firm. The analysis about the TorOption scam has been done by the experts at our firm and a lot of time and effort has been put into it. Morgan Financial Recovery, is a fund recovery group that has been in the business for a long time now. We also help in exposing scam brokers and firms to the public. We have a team of 54 attorneys and with over $3 recovered so far, we are definitely the one you should choose if you have lost your money in some financial fraud.
The TorOption Scam was definitely very shrewdly committed. Infact many believed it to be a legit one except our advisors here at Morgan Financial Recovery. The scam, now an old one, had one of the most interesting makeovers in financial history thus earning its place in the top most binary scams in the world. Also, at the time of writing this article, TorOption just has a 1.8 rating on TrustPilot which definitely puts it in bad reputation.
It was in 2017 when the scam broker started its operations on a simple trading platform where traders were quickly able to learn the basics. They quickly turned to CFD trading by the end of that year which raises a few eyeballs, especially at our firm Morgan Financial Recovery. The company listed all major Cryptos on its platform and also spent heavily on its marketing. All major social media were filled with their posts. That was way back in 2017 when the TorOption scam was slowly unfolding. Fast forward 2019, these social media pages ahve literally vanished.
Strange as it is, as said by our officials at Morgan Financial Recovery who work day in day out to bring the best advices and solutions to fund recoveries across the globe. Majority of them are highly educated with an exceptional track record and give their very best when it comes to fund recoveries.
TorOption didn’t have any kind of regulatory license to deal with the trading scenario. Before investing with any broker, it is highly suggested to check it’s license number. License numbers are publicly available and are legitimately verified. This was the first sign of the TorOption Scam as it had no verifiable license number.
TorOption had several withdrawal issues. Small, minor withdrawals are simply out of focus and hence whenever a small profit was made, owing to the fake exchange that it had, and a trader wanted to get his money transferred, TorOption would make excuses like bank holidays or tax problems. They said that with every $250 and above deposits, they are giving a deposit of 10%. Also, in order to withdraw the money, you need to trade 20 times the deposit amount, and then only they are going to send your money via wire transfer. The promises were fake and so were the payouts.
Another reason that led the exposure of the TorOption Scam was the lack of Demo Trading in its exchange. You always need Demo Trading to familiarize yourself with the trading scenario that a broker offers. It was not present in TorOption which further led to a lot of doubts.
TorOption Scam is one of the many scams that shook the financial world by storm and duped people of millions. If you have lost your money at such scams, what you need to do is contact us at Morgan Financial Recovery. We deal with all kinds of scams and fund recoveries on a daily basis and our expert team of attorneys and advisors will guide you to take the best decision to recover your money back from those who have been affected by such scams.