We can confidently say that the likelihood of cash back through the Chargeback procedure is much higher than the possible income from the financial markets.
However, the likelihood of success depends largely on your situation and the actions you take. It is important to understand that it will take some effort, time (3 to 6 months on average), and a bit of luck to achieve a real Chargeback. If you are hoping that simply writing an application will result in an instant refund, unfortunately that is not the case. Real Chargeback requires patience and persistence.
1. Reason for withdrawal: If you want your money back because the company does
not allow withdrawal or your trading deposit has been lost, the first case has a much better chance of
success. Proving to the bank that the company violates the terms of the contract related to the
withdrawal of funds is usually quite easy. However, proving that the company intentionally zeroed out
your deposit is more difficult.
2. payment system: Some payment systems, such as VISA, have more
flexible rules for refunds than, for example, MasterCard. However, this does not mean that refunds are
not possible through MasterCard, just that more effort will be required. The national MIR system is
usually more loyal in the initial challenge, but becomes less enthusiastic in considering repeated
requests.
3. Bank: A lot depends on the bank which issued your card. Sometimes the decision can
depend on the particular bank employee handling your complaint. More loyal banks who care about their
customers usually facilitate a successful Chargeback. Some banks, however, are not interested in the
Chargeback process because it is not profitable to them and sometimes even incurs fees for initiating
the process.
4. Brokerage firm: The size and prestige of the brokerage firm also matters. Large
companies usually provide legal support and specialists who can respond quickly and competently to
complaints.
5. Choosing a "lawyer": One important factor is choosing a professional who
will work with you on the return process. While you can try to do everything yourself, we think the
likelihood of a positive outcome with the help of a professional is higher.
The bottom line is
that the likelihood of a real chargeback depends on a lot of factors. You'll need to do a thorough
analysis of your situation, take appropriate action, and possibly seek help from a professional to
increase your chances of a successful chargeback.
