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Published on May 31st, 2018 | by John Kane

43

Review: Payback LTD

Today I’m reviewing another service dedicated to reacquiring lost funds from unscrupulous binary options brokerages, Payback LTD. The creators of this service believe that they have what it takes to have your funds returned to you, because the “company is comprised of people that used to work in the options and Forex industry.” They believe that having insider insight, sets them apart from their competitors, and gives you the edge you need in order to recover your money.

Considering the type of business, it’s quite odd that the creators of this service do not provide us with their company address. They do provide us with their email address, and three numbers for phone support. Traders can email [email protected], or call US 1-6469680944, UK 44-2033188546 or AUS 61-283174997. It’s good to see that they have full support, but I still would like to know why they are not providing us with a physical address.

Payback LTD Review

The Payback LTD group uses a 4 step process, they feel is the most efficient way at returning your money. They review all of the details of the complaint, collect all of the necessary documentation, then confront the owners of the companies, as well as their banks, and finally claim back your funds. Obviously, they make this process sound simple, but I’m sure you can expect some difficulties throughout this process. It’s an assumption, but I believe that working through process like this would require a fair bit of patience.

In order to qualify for fund retrieval, traders first have to recognize if the broker they are utilizing is either regulated or unregulated. The team tells the community that unregulated brokers will frequently advertise automated systems, bonuses and insured trades as ways to entice new clients, but none of these aspects can be trusted. The automated systems are program to lose, while the bonuses and insured trades features are just used to lock traders into contracts that ensure they aren’t able to withdraw their funds. In most cases, the binary options broker will provide you with the bonus, but in the small print, it will say something like you have to trade this bonus 30x, before you can withdraw any funds.

The bottom line is, you have to be very careful when you sign up with a binary options broker, and you should never sign up with an unregulated broker.

What’s Required Of You

In order for the Payback LTD team to start working for you, you need to provide them with adequate information they can utilize to build the case.

  • Provide all trading statements and transactions
  • Link to the broker or advertisement you signed up with
  • All communications you’ve had with this brokerage

After you’ve set this information to the team, they will analyze your complaint to ensure that it is valid, and then make sure you agree with their terms, so that they can start pursuing your funds.

Binary Recovery Skepticism

I’ve reviewed the 3 websites dedicated to recovering traders funds from binary options brokers, Wealth Recovery International, Win Chargeback and My Charge Back. Payback LTD is the fourth, and I can’t say I have a clear picture of this new recovery market.

While there are quite a few companies doing this, I’m not so sure how successful any of them are. In closely following the comments being made here on binary today, I’ve yet to hear any glowing success stories. That doesn’t mean that these services are working, or doing everything they can to recover traders funds, but it is contributing to a healthy dose of skepticism that’s only building over time.

My main concern, is that most of these services are requiring traders spend a fair bit of money on the front end, with the expectation that they will recover their funds. Yet, if the funds aren’t required, traders can be out anywhere from $600-$1200 in addition to the original funds that were lost.

I’m not saying that any of these services are bad, but you have to understand that there are no guarantees when it comes to dealing with banks or unregulated binary options brokers, so using a service like this one will be a risk.

Conclusion

I’m in no position to recommend Payback LTD or any other binary options recovery service at this point in time. In order for me to truly believe that these services are worthwhile, I would need to see some real client feedback, and not just testimonials on the sales page, but real comments made here at Binary Today.

Thank you for reading the review, and please leave your comments below the article now.

Review: Payback LTD John Kane

Summary: I'm still unsure about these types of services, so please come back with your experiences to share with our team.

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About the Author

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.

Disclaimer: Binary Today would like to remind you that the content contained in this website is not necessarily real-time nor accurate. Past performance does not guarantee future performance, the above is not indicative and is purely for educational purposes only. Relying on the above for investment, trading or betting in binary options or Forex is not advised unless done so with virtual money only.

Binary Today or anyone involved with Binary Today will not accept any liability for loss or damage as a result of reliance on the information including reviews, recommendations, charts, software, income reports and signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


43 Responses to Review: Payback LTD

  1. Andy Cross says:

    I’m 40k down , life ruined and I believe payback are a con as well as

  2. Lynn says:

    I have been scammed for £22k in a week by Xtraderfx .com
    I’m sick with worry now.
    What’s the best route to try and recover my money?
    Can anyone advise me please

  3. Selk says:

    I have been scammed by a Company called Boerum Holdings. I have paid £1250 (half the fee due) to PayBack Ltd. The next half is due on the 21st Oct. I am in two minds whether to pay as I am reading that they themselves may be scammers. Would anyone like to comment?

    • Paul says:

      Hi what is your recovery amount? Payback quoted me US$6000 (2 installment) and 8% commission on a US79,000 recovery amount. Another company, Wealth Recovery International, want an upfront US$2K based on 10% retainer fee of the recovery amount, and it does charge another 25% commission on the recovered amount. Very hefty charges!

      • Selk says:

        Hi Paul, I’m trying to recover £35K. I have to date only paid half fee to PayBack, and they are not pushing for the other half yet. We are waiting to hear from letters sent to my Banks. Thereafter if any funds come back they want 7%

  4. Ingemar johansson says:

    I just got in touch with Payback ltd.
    Have asked for referenses and they refer to the law for sharing such information. But who wouldnt like to share if the lost founds where claimed back successfully.
    Are there any bllacknaillist of companies who act in non proffesional way.
    I have difficulties with Bit Sevens as well Bullwinns, Bitprofiting, option 888
    and now seems GCC investments coursing me problems
    If I not able to with draw means that i lost severla hundred thousands Euro.
    If any of you got positive result and can aprove that with Payback Ltd. please let me Know
    Ingemar Sweden

    • Mats Sweden says:

      Hi Ingemar,
      I have also been contacted by PayBack ltd.
      What I’ve heard should be serious, but I’m not sure. they call me over and over again. think they seem tough and stubborn, and then I’m suspicious.
      There are several other companies also helping victims of fraudsters recover their money. But it can be difficult many times for a successful end.
      It’s best to talk personally with someone who got their money back.
      Otherwise, you can make a complaint to the bank you have transferred over the money. But usually the bank does not want to take its responsibility, but blames everything on you.

    • Berlin58* says:

      Hello ,it is just a short time ago you sent your mail. I am in contact with payback ltd presently, too. I signed the contract. As I have been in contact with several brokers (scams) they are now asking for the second upfront (2x4k). I have been reading positiv results of payback ltd-users! A lot of doubts wheather to use payback or not. There was none feedback saying they didn’t fulfill their tasks. That is a relieve, isn’t it. What is your situation so far?

  5. Pawel Murawski says:

    Hello,
    I’m trying to get money back from cryptopoint using payback. If anyone can write current experience. I lost my all savings. Please help.

  6. Robert Dubois says:

    After losing 120,000.00 USD I didn’t know who I can trust. After speaking with David and mike I decided I wanted to go to Israel and see for myself. Going back and forth for almost 5 months I am happy to say that I got my money back well 100,000.00 more than I thought I would get back.

    Thank you payback for dealing with me and my phone calls every day and thank you for helping me get back on my feet!

    • John says:

      I believe this review is from the people at Payback Limited, as it came from the same ip address as Kjetil’s review, and just a few minutes after.

    • Ken Gill says:

      Hello, did your dealings with Payback all go well ?

    • Berlin58* says:

      Hello Robert,

      I can’t believe what you are writing. That is what all hobby-traders who lost a lot of money and are now in contact with PAY BACK Ltd, want to read. So you are saying payback ltd. can be trusted!!? Any upfront payment is all right?
      I am now in contact with payback. A certain David is calling almost every day. Mr. Ron is also bussy with my case.
      Thank you for your answer and congratulations to your successfully receiving your money back by payback.

  7. Kjetil says:

    Just wanted to say thanks to PayBack for what they have done for me.
    I lost 48K 2 years ago and just got back 33,200 and more is supposed to be on the way.
    thanks and i will leave a review everywhere i can to let people know that this company does what they say.
    God bless you all at PayBack

    • John says:

      This review and Robert Dubois’ review came 5 minutes apart from the same IP Address, it’s likely they are associated with Payback Limited.

  8. Doug says:

    https://www.financemagnates.com/forex/regulation/canadas-osc-blacklists-payback-limited/

    Good luck getting money back from these guys. They are they recover room scam of Trans Atlantic Direct…

  9. Kerry says:

    I’ve also fallen victim to binary options losing about $250,000 USD. Crazy right. Mostly to Titan Trade, but also a chunk to BuyerBank. After hitting rock bottom with this in November, 2016 (yes, the night Trump was elected… to make matters worse lol), I was devastated and didn’t know what to do with myself. After a few weeks of self pity I decided to move on with my life. I didn’t try to recover or discuss it with others, just forgot about. Well, until recently. About a year and a half later I found out about PayBack and after hesitating for 2 months and hoping to see more reviews on here and after talking to Payback several times I have decided to try it. It will cost me 2500 Euros. I will come back to give updates regardless of the results and I hope others would too. If anyone has something important to say now please do as I am about to make this transaction.

    • Berlin58* says:

      Hello Kerry,

      how is your cooperation with payback ltd. going on? I am curious. I am in contact with payback now 11/2018 too. They seem to be sincere. (as I lost a lot of money at “sincere” brokers, I try to get back funds, too). Here I read only questions. The only positiv comment is put into question by John. Please send me a reply.
      Berlin58*

  10. Carmen says:

    Today, after two months trying to sort out who to entrust with further precious money to try to recover my funds, I have signed up with Payback Ltd. Thank you for supporting me so far.
    I will post again, as have others, to help shed some light for others also in this difficult position.

  11. pieter smolovsky says:

    This company is not a scam I got all my money back, Jack and Andrew told me they will get it back from the processing company if the bank didn’t take my claim and they did, as of yesterday the full amount lost to binary was back in my bank!!!!!
    I will recommend this company to anyone who has lost money and i will share it on my facebook and LinkedIn.

    Thanks, PayBack!!!!!!!!!!!!!!!!!!!!

    • Kelly says:

      Pieter, how long did the process take. I am waiting for a document which they have said I will receive next week. Reading your review has given me hope that this company are genuine. Losing all my savings and more has destroyed me, these evil scammers should be locked up for what they are doing to people. I lost my husband this year and they have taken advantage of this. I feel completely foolish having been so taken in by these scammers but they are so clever. They should be put in prison, they are criminals. I really hope and pray that Pay Back are genuine and I can get my life back on track.

      • pieter smolovsky says:

        Hi Kelly
        I lost money in April this year, they were able to get me my money back within a month through the banks, they did tell me in the beginning that it could take a while depending on the case.

        • Kelly says:

          Thanks Pieter, but after reading John’s comments I am now really worried about this company. Why would they need to post fake reviews if they are genuine. I have already paid them £1500 of the £3000 they asked for and today they are going to take the other £1500. They have promised I will have a draft document by the end of the day but I know they will be asking for the money first which makes me suspicious. After being conned out of so much money it’s so hard to know who to trust now.

    • Ken Gill says:

      Hello, did your dealings with Payback all go well ? How long did the whole process take or is it ongoing ?

  12. pieter smolovsky says:

    Just an update on how things are going.
    I have just received a very professional looking document from Jack and i am taking it into my bank today
    Will update as soon as i know more

  13. pieter smolovsky says:

    i found payback today and i have gone along with them, paid them 2500 poundss im hoping things work out i will keep you all updated.

  14. Desiree Baan says:

    A positive comment does not say anything. Because why would Andre, Peter, and Patrice want to give a positive comment at all? Think about it. You have been scammed, lost a lot of money, why would 3 people within 4 days search for an article about Payback ltd to leave a positive comment without any benefits of so ever? If those 3 people are a regular visitor of this site, post some comments before over several months, then I would believe it. If I was the Boss of Payback, I would make different accounts on a website so I can give positive comments.

  15. Sheila Brame says:

    I lost £30,000 with Binary brokers Plusoption, last year.
    Having looked on site for a possibility of recovery, I found PayBack LTD.
    Jon Adleman rang me, today. He says he can get all back as Plusoption are now confirmed as being scammers. Also as I paid by debit card, so have bank statements to prove, I fall into the recovery category. Having looked on site I see your report. There are confirmations of recovery for some people, so I don’t know what to do. The fee is required upfront…£2,000.00, which is a lot to loose on top off my first loss. What should I do?

    • Berlin58* says:

      Hello Sheila,

      you posted your mail in July. Have you already finished your recovery program with payback Ltd.? I am now in talk with them (David is calling). On this website I only read questions, no results of getting money back. Oh yes, one positiv result is there. But John says tis email is from payback itself.
      Thank you for your feedback
      Berlin58*

  16. Payback Ltd contacted me last year via email, and I hired them in November 2017 to recover funds I had lost with the Glenridge Capital Binary Options scam. Like Robert says, the Payback representative claimed they could potentially recover most of my lost funds. My initial contact was Andrew and later Ilan and finally Jack. It’s been seven months now and they still haven’t recovered my funds. I was glad to read what Patrice, Peter, and Andre said about the recovery of their funds — assuming, of course, that their fund recovery claims were verified by you.

    • John says:

      Thanks for sharing David. I hope they help you recover your funds.

      • You’re welcome, John, and I hope so too. I’ll make you a promise. If Payback helps me recover all — or some — of my funds, I will post it here for you to share with your readers; and if they don’t, I will post it here too. And whatever I post, you’ll know for sure is true.

        • John says:

          Perfect David, maybe your comments here will help expedite the process.

        • Lee says:

          Any news on recovering your funds yet David ?

          • David Pereda says:

            No, they couldn’t do anything for me. After going back and forth for months, I was told that they had struck out. They were very nice about if, though–if you like manners.

            I had another case going with Birman Law via Wealth International–and after two years, they told me they had struck out too and that the principals had left Israel. They were very nice about it too.

            To be honest with you — and I hope John publishes my reply — I knew from the onset that it was highly unlikely for either of those groups to obtain the refund of my money. It was a long shot.

  17. Patrice says:

    Thanks, Sam for your help Jack and his team worked magic.

    I recommend this company to anyone who has lost money to these scammers

  18. Peter says:

    Thank you so much payback!!!

    I lost 89k about a year ago, I approached payback around 5 months ago and last week finally got my money back, thank you jack and all payback team!

  19. Andre Van Erven says:

    I found Payback after losing 45,000 euros in a binary options scam. It took a while but I was able to get a full refund thanks to payback, i got my life restored after this horrible nightmare. It was also hard for me to believe in the beginning but today im happy i did that.

    • Paul says:

      Can share more information such as the recovery amount and the charges from PayBack? How long it took you to get your money back? Is there a commission on the recovered amount?

  20. Scott says:

    Payback ltd appears to be located in Israel. Their website developer’s office is in Tel Aviv, and Payback’s legal jargon says that any disputes fall within the laws of the state of Israel.

  21. Robert says:

    I found Payback Ltd. after suffering a large loss with iBitPro. I filled in some information on a form on their website. They contacted me and about their service claiming that the company that scammed me was actually hosted in Isreal.. and that they could potentially recover some or most of my lost funds. They claimed that since they also were in Isreal, and since they had successfully assisted another victim of iBitPro , they were in a good position to effect a solution.

    Has anyone out there had a successful outcome with Payback Ltd? Or has anyone been scammed by this company?

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