Action Refund is a financial consulting and strategy company that offers fund recovery services to the victims of online investment scams. Their head offices are in Ramat Gan, Israel. Clients can reach out to the company through several phone lines for the countries they service, their website live chat feature, email, or by filling out a contact form on their website.
Our Action Refund review found the company to be competent and capable of carrying out the services they offer. Their chargeback services have a reasonable success rate compared with similar companies. Their representatives know their stuff and are very friendly. We had no problem following along with their chargeback process, which they explain in steps that anyone can understand. Many chargeback companies waste the time of clients who simply don’t have a case, but not this one. So, our favorite thing about Action Refund is that they only take cases that they know can succeed.
What Do Their Clients Have to Say?
We reviewed some of the plentiful customer reviews on various review websites and finance message boards that former clients have left about Action Refund–read more here. The overarching opinion of this company is very positive. The majority of reviewers left perfect scores and called out the excellent customer service they received. We gauged their success rate from these reviews, and it seems that this company consistently delivers results for their clients.
A lot of the reviews mentioned the agent that handled their case’s name. It’s nice to see a chargeback company that offers personalized service to their clients, whereas many treat them like just another number. The single largest source of reviews on chargeback companies is TrustPilot, and Action Refund has 4.6 out of 5 stars there. Some chargeback companies have similar scores, but none of them manage to hold onto them for the same volume of reviews. Over 170 former clients have left their feedback of Action Refund on TrustPilot.
What Are Action Refund’s Services?
Action Refunds provides chargeback services for the victims of online financial fraud. These kinds of scams are mostly fraudulent brokers that offer CFDs, forex, binary options, or cryptocurrencies. These are big money makers for professional traders who work with registered brokers, which draws in many hopeful novices. Unfortunately, these new traders don’t really know how to spot phony brokers and often end up depositing money with a scam. Once the money is with the broker, the traders don’t have much chance of getting it back themselves, so they consult a company like Action Refund.
When a scam victim calls Action Refund, they receive a free consultation. During the consultation, Action Refund’s agents evaluate the victim’s case’s merits to gauge their chances. This company maintains its high success rate by only taking promising cases. This is good for the clients as well because anyone who won’t get their money back, in the end, isn’t wasting their time. Clients explain how they were scammed by giving details like the specific broker and the deposit amount. The representative can then tell the victim whether they should move onto the next step or not.
To put through the chargeback successfully, Action Refund needs some critical pieces of information from the client, which they collect during the second step of their chargeback process. The representative requests some necessary documents from the client. In many chargeback cases, the key document is either a bank statement or a statement from another payment processor. Supplementary documents can include communications logs with the brokers and records from the client’s account on the broker’s platform. These pieces all come together to form a strong case for the chargeback.
With all of the necessary information, the team at Action Refund can process the client’s chargeback. First, they must make a valid and demonstrable effort to reach out to the scam broker. This isn’t mean to compel the broker to give a refund, although sometimes it does, and the issue is resolved at that point. Showing that an effort was made to contact the broker is a prerequisite to processing the chargeback. Action Refund contacts the bank or payment processor with all the necessary documents and forms to initiate the chargeback. With everything filed correctly, the client soon receives their full refund.
Action Refund has a team whose members come from many different backgrounds. Their disciplines all come together to make this process work very smoothly. Their representatives are always willing to explain the moves they’re making to the client. We put the highest degree of trust in their knowledgeable customer service.
What Scams Can Action Refund Help You Fight?
There are plenty of different scams online. Action Refund’s specific area of expertise is online investment scams. These are types of scams where a fraudulent broker offers investors the chance to trade assets just like a legitimate broker would. Traders would soon find out that they cannot withdraw their earnings from the broker, then realizing the scam. These investment scams can use any asset as bait, but the most common are CFDs, forex, binary options, and cryptocurrencies
When it comes to these scams, the actual asset isn’t that important. Their tactics are generally the same for all of them. One of these tactics is offering leverage. Leverage allows experienced traders to amplify their potential earnings for assets with small fluctuations like forex, which also boosts the risk. Legitimate brokers have strict limits on leverage for traders, with professionally licensed traders having access to more leverage. New traders think that more leverage means more earnings, so scam brokers offer them higher leverage than regulations allow to lure them in.
Account bonuses are another common tactic. Most financial regulators have strict rules on these, if not banning them outright. The scam broker offers a percent bonus on the first deposit, sometimes, even doubling it. This makes inexperienced investors think they’re getting free money. Unfortunately, the fine print on these bonuses includes terms that make it almost impossible to ever withdraw them. Scam brokers use these terms as an excuse to deny any withdrawals at all.
Scam brokers also make use of fake celebrity endorsements. These ads run on social media, and most websites do little to nothing to stop them. It’s entirely up to the user to decide which ads are genuine and which are fake. The brokers make up stories, which are complete fabrications, about known celebrities using their platform to make thousands, if not millions, of dollars. Some regulated brokers use fake celebrity cameos in their advertisements, many of which have gotten in big trouble over it.
Scam brokers know that their primary source of victims is traders looking to get rich quick. With this knowledge, they’ve invented the automated trading pitch. Their advertisements claim that the brokers have complex algorithms that take all the work out of trading. Inexperienced traders jump at the chance to let a perfect computer program make trades for them, but all of these claims are pure fiction.
How Does Action Refund Protect Client Information?
The same scammers who run online investment scams often dabble in phishing as well. They take the information that clients give when signing up and use it for other scams, sometimes, selling the information to other scammers. This leads to scam victims being understandably worried about information privacy. They’ve already been stung once. How do they know they can trust another company?
Our Action Refund review found that their policies are compliant with the relevant data privacy regulations in the jurisdictions where they offer their services. Clients can rest assured that consummate professionals are handling their information.
What Does Action Refund Do to Prevent Online Investment Scams?
Action Refund has shown that they can help victims of online investment scams after the fact, but they also take steps to help potential victims avoid the scams altogether. The company maintains Facebook and Instagram pages where they post regular updates and trader education about the different kinds of scams they’re likely to encounter.
Their posts cover more than just their core clientele of forex, CFD, binary option, and cryptocurrency scam victims. We found information there about the most prominent online scams. Action Refunds educates people about the dangers of phishing scams by highlighting the standard methods that scammers use to gather information. They also explain the common types of scams that run on social media like the “circle game” and phony messages from hacked accounts.
What’s the Final Word on Action Refund?
Being the victim of online financial fraud is rough. Fortunately, you now have a chargeback company to go with.
Our Action Refund review has found that they offer friendly and professional service to all of their clients. The initial consultation is free, so any scam victims should hear what they have to say about their case. For those that do choose Action Refund, they have a high success rate and deliver fast results for your refund.