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Published on August 14th, 2017 | by John Kane

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Mychargeback.com Review – My Charge Back

Mychargeback.com Review – My Charge Back John Kane

Summary: This is another new service claiming to help traders recover scammed funds. There seems to be quite a few of these popping up lately.

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Today I’m looking at a new service built to help traders that believe they’ve been scammed get their money back, MyChargeBack.com. The creators of this service specialized in the fields of Binary Options, Forex or CFD brokers. Obviously for the purposes of my review, the focus will be on binary options, and this seems to be the market they advertise in most frequently.

The creator of this software is Mark Timmons, he claims that he was scammed once in the past, and that led into creating this company, Cactil, LLC. There is no full address, but we are told the location of the offices is in Cedarhurst, New York. Traders can contact support by email info@mychargeback.com or phoning 1-888-350-8030 in the US, 1-647-946-8583 in Canada, 44-20-806-80493 in the UK and 61-2-8015-5645 in Australia. There are no office hours so you are best to email first and inquire when you can call.

MyChargeBack.com Review

The point of the MyChargeBack.com service is to get your money back. They go about this by helping in the preparation of material that your bank will require in order to make the decision on your charge back. Each quote is personal, on a case by case basis but I’ve read one scenario where a trader wanted to recover $4550 and was quoted an up front fee of $750 USD. This does seem steep, but if it works, then it could be worth it. Yet, if you were to get the chargeback on your own, then that would be even more promising. So, it’s important that we analyze what exactly they are offering, and determine if that’s not something we can do on our own.

Personally, I feel like the creators of this service should be charging after they win your money back, not before. Or at the very least, put that money in a trust so that you don’t lose more money if they are unsuccessful.

Expertise

There are a few points that MyChargeBack.com believes they have expertise that will ensure traders recover their money.

  • They know what the bank needs to hear.
  • They know what type of mistakes the banks often make that lose your chargeback.
  • They know when you need to escalate your case within the bank.
  • They know know how many people live on mars. I’m not sure why this is here, seems off-brand and unprofessional considering the rest of the web-site.
  • They know how to present the chargeback “in the most effective manner.

These seem like valid points, but none of them really go into any detail. I feel like this service offers a guiding hand on your shoulder, but I’m not sure if it’s really necessary. If you know how to stomp your feet, and clap your hands loud enough, I believe that you can get this done on your own.

Client Feedback

There doesn’t seem to be any real client feedback for this service. The Win ChargeBack fund recovery service I reviewed last week had much more client feedback.

This service only seems to have a reddit thread made about 7 months ago and the majority of the posters are highly skeptical.

Conclusion

At this point in time I don’t believe I would signup for MyChargeBack.com. I would probably try and do this on my own, to see if I could recover my funds without having to pay someone nearly $1000 to do it for me, with no real promises of success or client feedback. My Win Charge Back is a better solution, but I don’t think I’d use either. In the end, its up to you.

My hope is that we will hear from some actual clients now, and that will help change my opinion on this completely. Thank you for reading, and let me know if you need any help trading binary options.

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I am a full time binary options trader. I was able to leave my job in the last 5 years and dedicate myself to trading fully. I never thought my hobby and passion would make a living for me but I am grateful every day that it has. My main goal now is to communicate with the binary trading community, contribute to different websites and learn from other traders.

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47 Responses to Mychargeback.com Review – My Charge Back

  1. Ric says:

    Hi,

    Can someone please give me some confidence in this company. mychargeback.com? i have been scammed by this binary option company and ive already filed a chargeback through the banks but ive been told its more likely to be rejected and mychargeback.com or winchargeback can help?

    Any confidence guys please.

    • roberto says:

      Hi everybody. first of all sorry for my bad english. I was cheated by a dishonest broker for a large sum of money. I contacted mychargeback.com and they asked me 500 pounds to start with. then another 500 pounds to go on. this only for the money paid with the card. for the wire transfers, they asked me for $ 4,000 and I do not know why they’re pounds for cards and dollars for wire transfers.
      then I turned all over the internet and I did not find (ONE) I say (ONE) review of someone who has had the money back successfully

  2. Mark Prince says:

    So….on that bombshell it appears we are all up shit creek without a paddle….i to feel scammed by StoxMarket and these companies are getting away with it…the thief is always one step ahead of the good guys,,,,i know someone who had their 60k Mercedes stolen cos a scanner picked all the information from their keys in the house….what chance has the littleman got.

  3. GASMELBARI MUSTAFA says:

    I’m also a victim of a binary scam. I have just signed a contract with mychargeback.com. I think they are serious people. I’m going to continue with them and put a feedback here as soon as I get positive results.

    • Stone G. says:

      I also have been scammed, and lost all of my savings, from 2 fake brokers in UK. ( Toroption and Plusoption ). They are real big scambugs.!
      I haven’t made a contract with mychargeback.com yet, as it’s difficult to trust anyone at the moment.!

      Please inform us other, if they have been honest to You and succeded to refund Your deposits.
      Right now, I hope and pray, that you succed and not experience another fraud.

  4. Peter says:

    Has anyone dealt with Olsson Capital? I invested EU12500 with them and after less than 30 days I got suspicious and read up about scam traders. I asked for deposit back and I was told I can only get it back after trading 30 times with bonuses. I made contact with mychargeback who called me and said I need to make a payment of $850 up front. I don’t know what to do can you please help with some advise?

  5. Dominic says:

    I have been scammed of a lot of money from 2 fake brokers and after speaking to loads of compares and people I decided to give Mychargeback a go. They are NOT scam artists and although we are still working on the banks, I think they are doing a great job. SO far their initial letter to one company got me back nearly £10,000. Although, after being scammed I didnt believe any review I read of anybodies, I stand by these guys…worth a try in my book and I am glad I am using them.

    • Abdul says:

      Hi Dominic so you mean to say we can trust them as a recovery agent ?

      • Dominic says:

        Thats what I am saying. They are not out to scam the victims like the brokers or possibly others out there. Mychargeback are legitimate and weather or not they are successful with my or anyone elses case, it is not going to be through lack of trying very proactively.

  6. Mozza says:

    I used Greenfields Capital SCAMMERS!

    I am having problems in getting my money back, they wont answer me back.

    Ive reported them to the Payment System Regulator http://www.psr.org.uk who told me they are illegal and are not allowed to trade in the UK. The so called trading platform they use is in fact a training platform and is only on their server and does not connect to the trading market in any way, So people think they are trading and making money when in fact it’s a very clever SCAM !

    Once i mentioned i will take it to the fraud police they have suddenly replyed that they will try and refund me. Hmm no money yet after a week.
    I hope this helps other people in my position. PLEASE DO NOT USE THIS COMPANY!

    • Mozza says:

      I have now contacted mychargeback.com PHEW!

      • Mozza says:

        I haven’t used mychargeback.com yet as it’s difficult to trust anyone at the moment.
        All i have done is threaten Greenfields Capital with legal action and since then they have answered my emails?

        I will keep you posted if i get my money back.

        Happy New Year 2018

    • abdul says:

      I was scammed by same broker Greenfieldscapital. Can you advise me how to get back my funds or should I forget?

      • Mozza says:

        Hi Abdul
        i am still trying to get my money back from Greenfields Capital. I have £10000 with them.
        If i am successful this way i will tell you how i did it.

        I have not used mychargeback yet as i cannot afford the fee of $850.
        It is very difficult to trust anyone at the moment.

        • Fpeivissa says:

          Hi, I m in the same situation but with Stox Market, I m still fighting to get back my money, but I can not decide yet to hire mychargeback.com I don t really like that they asked for $ 850 in advance before start, It makes me feel the same like with the broker… I read a lot of good things about them but is a lot of money to start and then 25% of the recovered money. I will try with the bank first and see what happened… Did you try them finally?

          • Mozza says:

            Hi i still have not tried them. I am like you …. who can i trust ?

            I live in the UK and I am trying to find an english company, but i have had no luck.
            With my broker i sent an email to tell them ” they have 14 days to return my money and if i do not receive the money i will take legal action and contact the fraud department.”

            When i sent this, my broker suddenly sent an email saying they will try and refund me?? so far nothing.

            it might not work for you, but it is worth a try to be forceful to make them worried.

            I hope this helps.
            If you have a fraud department in your country or a financial department. I would report Stox Market to them, they might help you ?

      • Mozza says:

        Hi Abdul
        Have you tried this ?

        1,log in to greenfeilds capital
        2,go to my accounts
        3,click on withdrawal
        4,select the amount you deposited only (do not include any bonus)
        5, you will have to wait 4-5 days for confirmation.

        I don’t know if this will work for you. Good luck.

        If they call and tell you to cancel …….. DO NOT CANCEL the request.

        • fpeivissa says:

          Thanks!! Stox Market is in UK too, at least I received calls from London Numbers, even they had a contact number in Switzerland in their emails, but when I called back the UK number they were there. I was thinking about fraud department too, but It should be UK fraud dept, because I m based in Spain but the scam is online from a UK based company. Do you have any contact from UK fraud dept. please? Will be very useful for me, at least to write to them and know what to do. I m still in contact with Stox Market, the trader told me that she asked financial dept to withdrawal back my money, but I don t really trust her… Anyway will give them a couple of days to see what happened, I don t trust anybody right now. They all look so pro and then are all scammers…
          About mychargeback, they are also in UK as the number where I received their calls is from UK.
          Hope you can solve your problem !!!

          • Mozza says:

            The problem is, because this type of fraud is new it is very difficult for the authorities to help.

            In England the action fraud police unfortunately cannot help get your money back. You can call or go online but they will just monitor Stox Market.
            https://www.actionfraud.police.uk

            The other company I called was
            https://www.psr.org.uk
            +44 20 7066 1000
            These guys will tell you if the company is allowed to trade.
            Now if Stox Market are not allowed to trade in UK, when you send a strong email you must mention that you have spoken to the PSR.

            The other company i contacted was
            https://www.fca.org.uk
            +44 207 066 1000

            These 3 companies will take the details, but cannot get your money back.

            Now i looked into mychargeback and they are from Canada and have an office in USA, but the UK number is from a VOIP number (internet number)
            i know this because i asked the guy who i called
            Nathan Anderson

            (USA) 1-888-350-8030 | (UK) 44-20-806-80493
            (CAD) 1-647-946-8583 | (AUS) 61-280-155-645
            Ext. 1005
            Skype: support.mychargeback.com

          • Mozza says:

            Hi i found this article for you i know it wont help.
            https://www.fca.org.uk/news/warnings/marketier-holdings-trading-stox-market

            If you search google uk and put in ‘Stox Market scam’ and there you will see many other people with this problem maybe here you might find someone who has had success?

            Buena suerte para ti 🙂

        • Abdul says:

          Hi mozza thanks for keeping us update I thought u r from
          Middle East.anyhow I tried to clink on the withdrawl link before and I am stuck with 2kUSD and I don’t have an option of withdrawal any more. If I give me ur email id or email me at askhanz@icloud.com I can share u their email . But mike valery my so called account manager made or force me to trade on currencies on max leverage which suppose to expire in 30 Dec after an hour I saw my all trade unsuccessful or lost.now I don’t know how to threat them even coz in email I did it but I received one email for capital protection etc where they say deposit some amount as deposit protection of capital which should make my account funded more than the bonus which I had in total. Which doesn’t make any sense so obviously I can’t after such scam. So if u can contact on my behalf or tell em the way to do it I will do to recover my funds.
          No one has still confirmed if muchargeback has worked for them.

    • abdul says:

      I sent the email to email id mentioned above but no reply. I wonder if you got already some feedback from the authorities??

      Thanks

      • Mozza says:

        Hi Abdul
        Have you tried this ?

        1,log in to greenfeilds capital
        2,go to my accounts
        3,click on withdrawal
        4,select the amount you deposited only (do not include any bonus)
        5, you will have to wait 4-5 days for confirmation.

        I don’t know if this will work for you. Good luck.

        If they call and tell you to cancel …….. DO NOT CANCEL the request.

        • fpeivissa says:

          Thanks Mozza !!! Internet number sounds not so serious… I ll send an email to Stox Market telling them I ll take legal actions and forward claims to all this organizations you mentioned, to see what happened. Anyway I m still working with my credit card company to get a chargeback.
          Thank you for your help.

        • Sonia says:

          Hi there
          From experience the withdrawal has to be approved by the so called broker. So you are stuck.
          I am considering Mychargeback but am very apprehensive.
          Regards Sonia

  7. Abdul says:

    Just now Norman H called me and explained how they can recover my funds initial deposit of 375$ is required and then another of the same and once funds collected 20% of that amount has be paid to them ? Guys guide me pls

    • Joseph says:

      Hi Abdul, I am also about to make a deal with Norman H of mychargeback.com since I am also a victim of binary scam. He told me that the intial fee is $ 425 then another same amount when they process the documentation then 25% of the amount collected will be paid to them. Do you think that they can lower tbeir service fee on a case to case basis since it is much lower to you. Do you think they are scammers to? How about any opinion on Greg Z testimony below? Hope we can have a clear and honest comments or testimony from mychargeback.com clients here. Best regards to everyone.

      • Dominic says:

        As I just wrote before, Mychargeback.com are currently helping me. They are NOT scam artists and seem to be doing a very good job. Weather I get my money back or not remains to be seen but so far I got £10,000 back simply from their first letter to one of the companies so I am assuming they have some clout.

      • Sonia says:

        Norman requested 780 dollars from me? And 20% of the monies recovered. That is a steep amount of money. The rand dollar exchange is high on my side 🙁
        I invested 7000 dollars I can’t even tell my husband. I need to get the monies back

        • Gregory says:

          Sonia, are you from South Africa? Where did they phone you from, because, the guy that phoned me from my chargeback (Rami Klugman) said he was in Israel?? I really don’t know who to trust.

  8. Nienie says:

    Please warn me in time if this is a scam. They also offered me there help after I was scammed by a binary company.

  9. Greg Z. says:

    You asked to hear from an actual client and I’m one of them. I didn’t even know what a chargeback was, let alone that I was entitled to one because binary options scams are frauds. I contacted Mychargeback.com and provided them as requested with copies of communication with the fake brokerage as well as with my bank. They prepared the documentation I needed to submit to my bank and conference called with them over the phone and, as a result, the bank processed my request for a chargeback. I received my money back just about a month later. I could never have done that without them. This is a serious company and they provide a serious service.

  10. Michelle says:

    My Charge Back is just another money making scam

  11. David says:

    I suspect that MyCargeback.com is, itself, a SCAM. Reason. I ALMOST got into bed with FM-FX but, after some investigation after my initial contact with them via Facebook, and finding that they had a terrible track record of not doing what they promised and not giving refunds, told the person who kept phoning me to GO AWAY and NEVER contact me again. I had not put ANY money with them … then, lo and behold, three days later I get an unsolicited email from “info@mychargeback.com” offering their services to get my money back!!!

    HIGHLY SUSPICIOUS

    • John Kane says:

      Thanks for letting us know David.

    • Mange says:

      So you mean they are all in bed.. was my thought as well.. are there any serious players in this world..

    • abdul says:

      David still you stand with your words?

    • jason says:

      I would like to share a similar experience: I suspected i was scammed by one vendor company, so i contacted MyChargeback.com by email but by the time they called me back i had already begun negotiation on my own with the company that i suspected may have scammed me; i felt i would be able to probably recover most of my money by myself, so by the time MyChargeback called me i told them am already in negotiations with the company that i suspect may have scammed me and i don’t need to unecessarily alarm that vendor that i will be appointing Mychargeback.com to follow up on my money in case the vendor refused to return my money. They agreed but insisted i sign up with them by paying 50% of their upfront fee of USD 850. I made it very clear that if the outcome of my already begun negotiations with the scam vendor are successful then they will not pursue any work and will refund me my $425. So they said they will not begin any work pending instructions from me. I was eventually actually able to recover all of my money through direct negotiation with the vendor that i suspected was a scam. So when i told Mychargeback.com that and demanded they return my $450 as agreed previously with them they refused saying they already begun their research work ! They broke the agreement we had, did ABSOLUTELY no work for me that contributed in anyway in recovering one dollar from the vendor and in the end the vendor that i suspected may have been a scammer returned all my money while Mychargeback cheated me with $425. They seem TOO eager to immediately get you to sign a contract and pay 50% of a somewhat large fee while promising no real benefit. They will also charge 25% of any amount recovered but will deduct the initial fee. I was very dissappointed with their lack of integrity, they criticize scammers but they reek ‘rip-of’f / scammer’ i would for sure avoid them i were you. a totally lously and untrustworthy company. They are a rip off !

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