Brief information about the company “Broker-SOS”
The company “Broker-SOS” specializes in recovering trader investments that were misappropriated by brokers through wrongful actions. It operates not only in Russia but also in 30 other countries, including the USA.
History of creation
The agency “Broker-SOS” was established after its founders themselves encountered a fraudulent broker and were able to recover their funds through chargeback. The company was opened on November 20, 2015, but information about the founders is not disclosed. The team includes lawyers, attorneys, and translators.
The presence of an offline office is not confirmed. The website only lists hotlines and contact forms.
“Broker-SOS” provides clients with a list of fraudulent brokers, as well as runs a news section and blog.
Work process and service cost
To become a client of “Broker-SOS,” one needs to contact the hotline or request a call back through a special button. After consultation, a lawyer informs about the possibility of fund recovery, terms are discussed, and a contract is concluded.
The organization requires a prepayment, the amount is discussed individually with each client. In case of an unsuccessful chargeback, the prepayment is not refunded.
Information about the cost of services is not posted on the website. Clients can get a 10% discount by completing a short survey through a banner link.
Chargeback process
- Compiling and sending a notice of termination of the contract with the broker.
- Preparing a statement in Russian and English for disputing the disputed transaction and sending it to the bank.
- Preparing and sending a statement to the broker’s bank, financial regulator, and other broker supervisory authorities.
- Preparing and sending a statement about initiating a criminal case against the broker.
- If the broker refuses to cooperate, a chargeback request is sent along with a complaint to the international payment system.
Company’s pros and cons
Among the pros, the company highlights:
- Confidentiality guarantee for clients.
- Document preparation within three days.
- Full client support throughout the fund recovery process.
Among the cons:
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- Only traders wanting to recover 50,000 rubles or more can use the agency’s services.
- Lack of information on service costs.
- Absence of proof of fund recovery on the website.
Official company data claims that in nearly four years, it has successfully completed over 900 chargebacks. However, it remains relatively unknown online, lacking sufficient online presence over its long period of operation.
The company’s website looks modest for such an agency. The news section and blog contain insufficient content over the three years of operation.
Trust in “Broker-SOS” remains questionable in the absence of additional information presented on the official website.