Forex Withdrawal Scam

You may be trading forex for the first time and feel that you are succeeding. Your broker tells you that you have made a 100% return on your first trade and is urging you to make another one. You may be encouraged to deposit more money into your account, because this trade is high stakes. Your broker gives you the welcome news that this trade also was highly profitable. 

However, when you ask to withdraw some of the money, the broker does not respond to your messages. He may say there was a delay, a technical problem or he may demand a very high fee for the withdrawal. You may be told there was a rule you weren’t informed about when you signed up that withdrawals can’t be made the first 90 days or unless there are thousands of dollars in the account. 

Does this sound fishy? It is. Some victims of forex withdrawal scams, however, are not given any warning before they find their accounts have been closed or blocked suddenly. Soon after, the broker may disappear without a trace.

Signs of a Forex Withdrawal Scam

Unfortunately, many people do not know they are stuck in a forex withdrawal scam until the broker disappears with their funds. That is why these scams are called “withdrawal” frauds because when the victim tries to take out their money, they find they are dissuaded, refused or that their account entirely disappears. 

However, our CryptoScamBrokers team investigates these frauds regularly and warns the public to pay attention to signs that indicate financial danger. These are the common signals that you are dealing with a forex withdrawal scam. The broker:

          • Is unlicensed
          • Promises unrealistic profits
          • Does not provide any background or contact information
          • Aggressively encourages people to keep trading more and more money
          • Mentions rules and fees that were not stipulated in a contract
          • Does not readily allow customers to withdraw money from their accounts
          • Stops communicating or disappears when the customer requests to withdraw money

What to Do If You Have Lost Money in a Forex Withdrawal Scam? 

If the broker you are working with does any of the above, they are likely to be fraudulent. However, if you have deposited money with them, it is not too late, even if they have stopped all communication, closed your account and have blocked you. 

The first thing you should do is to seek assistance from professionals at CryptoScamBrokers. We use advanced technology and forensics investigation techniques to track down client funds from all types of scams. We will consult with you, launch a full investigation and create an investigation report that you can present to banks, law enforcement and crypto exchanges if you funded your account with cryptocurrency.

Seek Assistance with Your Broker Complaint from CryptoScamBrokers

Did someone hack your bitcoin wallet? Have you lost money to a scam broker? The CryptoScamBrokers team is on hand to listen to your claim and to gather the necessary information to search for your funds. Our cointracking technology and crypto trace strategies allow us to uncover the people behind the anonymous bitcoin wallets. Let us achieve results for you.

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