My 'broker' is demanding a 'risk premium insurance' to release my profits. Is this legit?

asked 20d ago9 views70 answers
0

Okay, so I'm in a bit of a bind here and feeling pretty stupid tbh. I got into this crypto trading thing a few months back through an ad on social media. Everything seemed fine, I put in a bit of money, and then they showed me these 'profits'. Looked good on paper, like over 20k Euro. When I tried to withdraw, they suddenly hit me with this new requirement: a 'risk premium insurance' fee. They say it's to protect my funds during transfer because the amount is so large. They want about 10% of my 'profits' upfront before they'll process anything. I've already put in a few grand, and I'm really worried about losing it all. My gut says this is a scam, but what if it's not and I'm just missing out? Has anyone else encountered this 'risk premium insurance' demand from a broker? I'm in Nice, France, if that helps. What should I do?

70 Answers

45

Oh man, Lucas, this sounds like a classic advance fee scam. "Risk premium insurance" is absolutely not a legitimate charge any reputable broker would ask for to process a withdrawal. Regulated brokers, like those supervised by the FCA, ASIC, or even BaFin in Germany or AMF France, have strict rules about withdrawals. They might charge a small transaction fee, but never a percentage of your profits as 'insurance' to release your own money. That's a huge red flag.

They're creating an artificial barrier, making you think you need to pay more to get your money, which, spoiler alert, you'll never see. Your money's probably long gone, and the 'profits' you're seeing are just numbers on a screen they control. My advice? Stop all communication, do not send them another cent, and gather all your evidence – screenshots, transaction details, chat logs. Report it to AMF France ASAP. They might not get your money back, but they can at least add it to their intelligence on these types of scams. It's a hard lesson, but please, cut your losses now.

Sipho van der Merwe · Bloemfontein, South Africaanswered 20d ago
38

Ugh, Lucas, my heart goes out to you. I went through something eerily similar last year. My 'broker' (who I later found out was just some dude in a call center) also came up with a bunch of excuses when I tried to withdraw my 'profits'. First it was a 'tax clearance fee', then a 'KYC re-verification fee'. It just kept going, fee after fee, and I kept paying because I was so desperate to get my money back. I lost about 8,000 euros in total. Every single 'fee' was a lie. Please, please, do NOT pay that 'risk premium insurance'. You will never see your money or those 'profits'. It's a total scam. Cut your losses, block them, and report them to your local financial authorities. It feels terrible, I know, but don't dig yourself a deeper hole like I did.

Eva Meijer · Nijmegen, Netherlandsanswered 20d ago
25

This 'risk premium insurance' thing is 100% a scam, Lucas. Seriously, no legitimate financial institution or broker would ever ask you for this. They create these fictional fees to extract more money from victims. It's a tactic designed to exploit your hope of getting your initial investment back, plus the 'profits' they've shown you. That money you see? It's just numbers they typed into a fake platform. The moment you send them more money, that's just more money you're throwing into a black hole. Walk away now. Don't engage with them further. These scammers are ruthless.

Connor Dlamini · Port Elizabeth, South Africaanswered 20d ago
19

I'm so sorry this is happening to you, Lucas. That phrase 'risk premium insurance' sounds like pure jargon made up by scammers. Reputable brokers are regulated and don't operate like that. If they're making up arbitrary fees, especially tied to a percentage of your supposed profits just to release your funds, it's a huge, flashing red sign that it's a scam. You mentioned you got into this through a social media ad, which is another common entry point for these types of fraudulent schemes. Please don't pay them anything else. It's a sad truth, but the money you've already sent is probably gone. Focus on protecting yourself from further losses.

Samantha Jackson · Houston, USAanswered 20d ago
15

Hey mate, really sorry you're going through this. It's a horrible feeling when you realise you might have been conned. Just want to echo what others are saying: 'risk premium insurance' for withdrawing your own funds? That's not a real thing in legitimate finance. Not even for large amounts. They're just trying to get more money out of you. You're not stupid for falling for a sophisticated scam; these guys are professionals at manipulation. The best thing you can do now is accept that any money you put in is likely gone, and stop sending them more. Don't beat yourself up, just learn from it and move on. Cut them off completely. Report to the authorities in France, like AMF.

George Harris · London, United Kingdomanswered 20d ago
12

Lucas, this is a classic 'advance fee fraud' in the context of an investment scam. The concept of a 'risk premium insurance' *to withdraw your own funds* is completely alien to legitimate financial markets and regulatory frameworks like those overseen by BaFin in Germany or the AMF in France. When a broker is regulated, they have capital requirements and client fund segregation rules, meaning your funds are supposed to be safe and accessible according to their terms and conditions, not subject to arbitrary 'insurance' payments before withdrawal.

They show you fictitious profits to keep you engaged and then invent these fees (like 'tax', 'AML fee', 'compliance bond', 'insurance') to get more money out of you. This is a common tactic. The goal is to drain you for as much as possible until you either run out of money or realise it's a scam. Do not pay. There is no money there; it's just a number on their screen. Your primary focus now should be to prevent further loss and report the incident.

Jonas Fischer · Hannover, Germanyanswered 20d ago
9

Absolutely, Lucas, that's a scam. I've seen this exact tactic reported multiple times through various fraud prevention channels. 'Risk premium insurance' is just one of many made-up fees scammers use. Other common ones are 'anti-money laundering fees,' 'tax fees,' or even 'regulatory compliance bonds.' The common thread is always that you have to pay *them* money to get *your* money. Real financial institutions don't work that way for withdrawals. Think about it: if you had 20k euros in a bank account, would your bank ask you for a 'risk premium insurance' fee to transfer it? No, they wouldn't. This applies equally to legitimate brokers. This broker is unregulated, and those 'profits' are pure fiction. Please don't send another cent. Your best bet is to report this to AMF France and your local police. Unfortunately, recovery is often difficult, but reporting is crucial.

Amanda King · Portland, USAanswered 20d ago
6

Jeez, Lucas, this sounds exactly like what happened to my uncle. He was with some offshore 'broker' and they kept asking for these weird fees. 'Risk premium insurance' sounds like something right out of their playbook. It's a way to get you to keep pouring money in, hoping you'll finally get the big payout. Spoiler alert: the payout never comes. The only people getting paid are the scammers. Stop all contact immediately. If you've given them any personal info beyond what's on the 'broker' site, like ID scans or bank details, keep a close eye on your accounts for identity theft. Don't fall for any 'recovery agents' who might contact you, they're usually just another layer of the scam.

Chloe Naidoo · Pretoria, South Africaanswered 19d ago
8

Let's break this down, Lucas. A legitimate broker's primary obligation is to facilitate trades and withdrawals according to agreed-upon terms, adhering to regulatory standards. In France, the AMF would be the relevant authority overseeing such operations. No such authority or legitimate broker would ever impose a 'risk premium insurance' fee on *your* funds for *your* withdrawal. This is purely a fabricated barrier. The 'profits' you see are likely from a manipulated trading platform, giving the illusion of gains to entice you to invest more and pay these fictional fees.

Your first step should be to verify if this 'broker' is even registered with the AMF in France. My bet is they aren't. An unregistered entity asking for unusual fees is a massive red flag. Secondly, cease all further payments. Every cent you send now is simply adding to your loss. Thirdly, compile all evidence: screenshots, communication, transaction records, and file a detailed report with the AMF and also with your local police. While direct recovery is often challenging, these reports are crucial for authorities to track and hopefully disrupt these fraudulent networks.

Ethan Dlamini · Port Elizabeth, South Africaanswered 19d ago
3

Honestly, Lucas, this 'risk premium insurance' thing sounds incredibly suspicious. Anytime a 'broker' demands extra payments to release funds, especially a percentage of profits, it's usually a scam. Real brokers don't operate that way. They should be clear about their fees upfront, and withdrawal fees are typically small, fixed amounts, not percentages of your 'earnings.' You mentioned getting into it through a social media ad, which is like, the oldest trick in the book for these fake investment platforms. Be very, very careful. Don't pay any more money. Your instinct is probably right on this one.

Faisal Al Mansoori · Al Ain, UAEanswered 19d ago
5

This is a classic advance-fee scam, a very common tactic in the fraudulent crypto space. There is no such thing as 'risk premium insurance' demanded by legitimate brokers. They've likely faked the 'profits' on a fake platform. Report this to your local financial regulator. In France, that would be the AMF France. They track these operations.

Saar Bos · Rotterdam, Netherlandsanswered 19d ago
3

Oh god, I feel for you. I was in a similar spot last year. Lost about €5k on something that sounded so real. They pulled the same trick, asking for more money for 'taxes' and 'transfer fees' after I saw my supposed gains. It never ends. You need to stop sending them money. Like, now.

Saoirse O'Brien · Waterford, Irelandanswered 19d ago
2

Wait — 'risk premium insurance'? That sounds completely made up. Legitimate brokers don't ask for extra fees like that to release profits. Usually, fees are taken out of the profit or are standard withdrawal charges. This smells fishy. Don't send them another cent.

Noah Lavoie · Vancouver, Canadaanswered 19d ago
2

This is a well-known scam pattern. They create a fake trading platform, show you inflated 'profits,' and then invent reasons for you to pay more money before you can withdraw. 'Risk premium insurance' is just a made-up fee to extract more funds. Sadly, the money you've sent is likely gone.

Leon Klein · Cologne, Germanyanswered 19d ago
2

I'm so sorry this happened to you. I also fell for a scam similar to this. They told me I had to pay taxes on my earnings before I could withdraw. I sent them money, and then they asked for more for a 'compliance fee.' I lost €8,000. Please don't send any more money.

Maryam Khan · Abu Dhabi, UAEanswered 19d ago
1

Yeah, that's not legit, friend. No regulated broker would ever ask for an 'insurance premium' to release your own money. That's a huge red flag. They want to bleed you dry. What you should do is cut your losses and report them to the authorities. Don't send any more cash.

Lucas Dlamini · Johannesburg, South Africaanswered 19d ago
2

Been there. Mine called it a 'processing fee' and then an 'anti-money laundering certificate fee.' It's all the same scam. They just keep inventing new demands. The worst part is seeing that fake balance and knowing you can't touch it. I reported it to the IC3 here in the States, but honestly, getting money back is a long shot.

Jessica Garcia · San Diego, USAanswered 19d ago
2

Mate, that's pure scam. They show you phantom profits on a fake site. 'Risk premium insurance' isn't a thing in legit trading. I got caught by something similar a couple of years ago with a dodgy forex outfit. Lost a fair bit. You need to stop all communication and report it to ASIC if you're in Aus, or your local equivalent.

Lucas Johnson · Perth, Australiaanswered 19d ago
3

This sounds exactly like the scams I've analyzed. They create a convincing-looking, but entirely fake, trading portal. The 'profits' are fabricated. This 'insurance' demand is a classic secondary scam to get more money after you've invested. Block them immediately. Consider filing a report with the AMF France, they might be tracking this group.

Maximilian Schroder · Hamburg, Germanyanswered 19d ago
2

This is a very common advance-fee fraud. They lure you in with fake profits and then demand further payments for fabricated reasons like this 'insurance'. The crucial step is to *never* send more money. For reporting, you could check if the entity name is known to MAS if you suspect they operate out of Singapore, but it's unlikely they are regulated.

Xin Wong · Singapore, Singaporeanswered 19d ago
2

I'm so sorry you're going through this. I had a very similar experience. They showed me huge profits and then asked for a 'transfer tax' and then a 'security deposit.' I sent them €10,000 in total before I realized it was a scam. I felt like such an idiot. I wish I had stopped when they first asked for extra money.

Amelia Wilson · Perth, Australiaanswered 19d ago
2

Oh no, this is heartbreaking. I lost my savings to something like this. They promised me the world. After I deposited, they said I needed to pay 'government tax' to release my funds. Then it was another fee. It's a trap. Please don't give them more money. You've lost it already.

Sipho du Plessis · Port Elizabeth, South Africaanswered 19d ago
3

🚨 SCAM ALERT 🚨 Do NOT pay any more money. This is a standard advance-fee scam. They will keep inventing new fees forever. The fake profits you see are just numbers on a screen. There is no 'risk premium insurance.' If you want to report it, check if they claim to be regulated by the FCA or ASIC, but they are likely unregulated offshore entities. Do not engage further.

William Williams · Hobart, Australiaanswered 19d ago
3

This is a textbook advance-fee scam. The 'broker' is not real, and neither are the profits. The 'risk premium insurance' is a fabricated requirement designed solely to extract more money from you. Stop all contact and do not send any more funds. Your primary recourse is to report the incident to the AMF France (Autorité des marchés financiers) in your jurisdiction.

Tyler Young · Seattle, USAanswered 19d ago
2

Exact same thing happened to me! They showed me €50k profit and then asked for a 'legalisation fee.' I nearly sent it. Thank goodness my husband stopped me. I felt so stupid for even considering it. It’s gutting to see the numbers but remember they’re fake. Block them. Report it to AMF France.

Ethan Smit · East London, South Africaanswered 19d ago
1

That sounds incredibly stressful, and I'm sorry you're dealing with this. These fake brokers love inventing fees. 'Risk premium insurance' is definitely not a real thing. The best thing you can do now is to stop sending money and block them. You might want to file a report with the AMF France, just so they're aware.

Noah Nguyen · Adelaide, Australiaanswered 19d ago
3

I'm an analyst who’s seen this hundreds of times. This is a classic advance-fee fraud, often masquerading as crypto or forex investment. The fake platform, the 'guaranteed profits,' and then the demand for 'fees' to release them – it's all designed to steal your money. There's no legitimate 'risk premium insurance.' Report it to the AMF France.

Mia Gagnon · Vancouver, Canadaanswered 19d ago
3

Oh man, that 'insurance' demand. I remember that one. Mine called it a 'withdrawal facilitation fee.' It's all the same garbage. They just want to keep you paying. I lost $7k CAD on a platform called OptionStarsGlobal before I wised up. Don't send them another dime. Seriously.

Jun Lim · Singapore, Singaporeanswered 19d ago
1

This is absolutely a scam. I fell for one of these last year. They promised me massive returns, and then when I went to withdraw, they said I owed 'capital gains tax' and then a 'transaction fee.' I ended up losing £6,000. They are professional thieves. Please, please do not send them any more money.

Charlotte Wood · Manchester, United Kingdomanswered 19d ago
2

Sounds like you've stumbled into a common trap. That 'risk premium insurance' is their excuse to take more of your money. Always be wary of unsolicited investment offers, especially on social media. If something sounds too good to be true, it almost always is. You should report this activity to the AMF France.

Jonas Becker · Dusseldorf, Germanyanswered 19d ago
15

This is a classic sign of a scam, sadly. No legitimate broker, especially one dealing with regulated markets or even legitimate crypto exchanges, will ask for an upfront 'insurance' or 'premium' fee to release your own profits. Especially not a percentage of the profit itself. These fees are fabricated to extract more money from you. The initial 'profits' are likely fake, just numbers on a screen designed to lure you in. Don't send them any more money. Your broker is almost certainly not registered with AMF France or any other EU regulator. You should report this to the AMF France immediately.

Hugo Petit · Strasbourg, Franceanswered 19d ago
12

OMG, been there. Exact same thing happened to me with something called 'EuroFX' last year. They showed me like 50k in supposed gains. Then they wanted a 'withdrawal tax' of 2k. I paid it. Then they wanted a 'compliance fee' of 5k. I was panicking, thinking I'd lose it all if I didn't pay. Sent them another 3k. Next thing I know, the website is down, numbers gone. All of it. Lost nearly 10k total. These guys prey on that fear of missing out. It’s all a lie. Just cut your losses and report them if you can find any info.

Michael Jones · Miami, USAanswered 19d ago
9

The term 'risk premium insurance' sounds completely made up for this context. Legitimate financial institutions have established procedures and regulatory frameworks for fund transfers and withdrawals, and this kind of ad-hoc fee isn't part of any of them. If they were a real, regulated entity, they'd be upfront about all fees from the start, and they wouldn't be operating through social media ads for such high-return opportunities. I'd be extremely wary.

Daniel Goh · Singapore, Singaporeanswered 19d ago
11

DO NOT PAY. Seriously. This is 100% a scam. They will invent fee after fee – processing fees, tax fees, administrative fees, whatever they can think of – until you have no money left or you finally realize it's a trap. They are designed to bleed you dry. The 'profits' are fake. The website, the broker, it's all a ghost. Please, for your sake and your sanity, stop sending them money. You're likely not getting any of that initial investment back, but don't throw good money after bad.

Conor Kelly · Cork, Irelandanswered 19d ago
8

This whole scenario smells fishy. 'Risk premium insurance' isn't a standard financial product for retail investors withdrawing profits. Regulated brokers and exchanges have clear fee structures, and they don't demand extra payments like this out of the blue, especially not tied to the amount of profit you're supposedly withdrawing. If you can't find any info on this 'insurance' from official financial bodies or your broker's actual terms and conditions (not just their website pop-ups), it's likely a red flag.

Jacob Pelletier · Vancouver, Canadaanswered 19d ago
13

As someone who's seen many platforms come and go, this is textbook. They create an illusion of profit and then lock it behind made-up fees. The goal is to keep you paying until you either run out of funds or realize the scam. Real brokers or exchanges regulated by authorities like the FCA or ASIC wouldn't operate this way. Their withdrawal processes are transparent, and any fees are clearly stated upfront in their customer agreements. Check if your 'broker' has any actual registration details listed on a regulatory site. If not, you've likely been targeted.

Megan Miller · San Diego, USAanswered 19d ago
10

Oh mate, this sounds exactly like the trap I fell into with a dodgy outfit last year. They kept telling me I had huge earnings but needed to pay a 'clearance fee' before I could touch it. It was always a new fee, always a higher amount. They were relentless. Lost a fair chunk before I finally wised up. It's a horrible feeling, like you're trapped. Don't send another penny. It's a con.

Jack Williams · Manchester, United Kingdomanswered 19d ago
7

I… I think this is happening to me too. They called it a 'security deposit' this time. I sent them like 500 euros, then they wanted another 1000 for 'verification'. I’m so scared. I don’t even know who to talk to. My wife is furious, she warned me about crypto. I wish I listened.

Liam Cote · Quebec City, Canadaanswered 19d ago
14

This 'risk premium insurance' is not a recognized financial instrument for retail investors. It's a fabrication designed to exploit your desire to access your 'profits'. Legitimate platforms, whether crypto exchanges or traditional brokers, will have clear, upfront fee structures. They do not invent new fees on the fly to release funds. If your broker is demanding this, especially a percentage of the supposed profit, it's a strong indicator of a scam. Check their regulatory status. For instance, if they claim to be regulated in Europe, they should be listed with authorities like the AMF France or BaFin. If they aren't, or if you can't verify it, do not proceed.

Noah Thompson · Adelaide, Australiaanswered 19d ago
11

Same story here, different name. Mine was called 'OptionStarsGlobal'. They kept telling me about my massive gains, then BOOM – 'tax clearance fee'. I was so excited about the money, I just paid it. Then it was another fee for 'anti-money laundering'. It never ended. Eventually, the website just vanished. Took me months to accept I’d lost it. You feel like such a fool afterwards. The best thing you can do now is walk away and try to report them.

Aoife Quinn · Belfast, Irelandanswered 19d ago
9

They are trying to get more money out of you. This is a scam. They tell you that you have profits, but it's all fake. They want you to pay them more money for fake fees. I lost 3000 euros to these people. They took my money and ran. Please do not give them any more money. You should report them to the police.

Liam Murphy · Waterford, Irelandanswered 19d ago
10

I was in a similar boat about 18 months ago. Thought I’d made a killing on some forex platform. They wanted a 'processing fee' – about 8% of my supposed earnings. I was so close to paying it, but then my spouse reminded me that legit places don't operate like this. We checked their supposed registration on the FCA website and found nada. Turned out to be a total scam. I lost my initial deposit, around 2 grand, but thankfully I didn't pay the extra fee. It’s a tough lesson.

Jonathan Ng · Singapore, Singaporeanswered 19d ago
12

This is exactly how they get you. They show you the big numbers, the 'profits', to make you feel good, maybe even a little greedy. Then, when you want to take it out, they slap you with a made-up fee. 'Risk premium insurance'? Never heard of it from any legit broker. My cousin got hit with something similar – they called it a 'government levy'. He paid it. Then they wanted more. He lost thousands. Just walk away. Don't send them another cent.

Jack Burke · Dublin, Irelandanswered 19d ago
11

My friend lost a fortune to a scam just like this. They promised him the moon, showed him fake profits on a slick website. When he tried to withdraw, they demanded a 'capital gains tax payment' upfront. He sent them the money. Then they asked for a 'transaction security fee'. He was so deep in it, he sent that too. In the end, they just vanished. He was devastated. It's gutting. These social media ads are full of these fake brokers.

Sophie Neumann · Cologne, Germanyanswered 19d ago
13

This is pure scam territory. They create a fake account balance for you and then invent fees to steal your money. I fell for it once, with a platform that looked super professional. They wanted a 'transfer fee' and then a 'regulatory compliance charge'. I paid about £1,500. Then they just stopped responding. My bank couldn't help much since I authorized the payments. It's a horrible feeling of helplessness. Don't pay them anything else. You need to report it to the relevant authorities.

Jack Harris · Bristol, United Kingdomanswered 19d ago
14

Heart goes out to you, OP. That 'risk premium insurance' is pure BS. They want to see how much more they can squeeze out of you. My own dad got caught by something similar last year. They kept him on the phone for hours, convincing him it was normal. He ended up sending them almost €5k extra on top of his initial investment. It was all gone in a flash when they shut down the site. Check if this 'broker' is listed on the AMF France register. If they aren't, it's a scam, plain and simple.

Fatima Iqbal · Ras Al Khaimah, UAEanswered 19d ago
10

Definitely a scam. They make up fees as they go along. You'll pay this 'insurance', and then they'll come up with another reason why they can't release the funds. Maybe a 'currency conversion fee', or a 'legal processing fee'. It never ends. It’s designed to keep you paying. The initial profits shown are entirely fabricated. You're likely not dealing with a real broker at all, but just a fake website. Save yourself the further loss and don't send any more money.

James Kelly · Belfast, Irelandanswered 19d ago
12

Don't fall for it. This is a common scam tactic. They create a fictional trading account for you showing large profits, then invent fees like 'risk premium insurance' to extract more money before you can withdraw. If they were a legitimate entity, they would be regulated by a financial authority like the FCA or ASIC, and their fee structure would be transparent and disclosed upfront. You won't find any mention of this 'insurance' in standard financial regulations. Cut your losses now.

Hannah Roberts · Nottingham, United Kingdomanswered 19d ago
11

This is a 100% scam. They will keep asking for more money. First it's the 'insurance', then it's a 'tax', then it's a 'transfer fee'. They invented a 'processing fee' for me once and I paid it. Then they wanted a 'verification fee'. Total scam. The website just disappeared one day. I lost a lot of money. Please, please do not send them any more money. It's gone.

Logan Gagnon · Montreal, Canadaanswered 19d ago
10

Yeah, that sounds like the same scam that got me last year. They called it a 'diplomatic clearance fee' for my withdrawal. I was so close to sending it. Thankfully, my buddy talked me out of it at the last minute. He'd seen something similar. It's heartbreaking how these people exploit others' hopes. Don't send them anything. Seriously. It's a lie. You're likely not getting any of that money back, but don't give them more.

Ashley Young · Houston, USAanswered 19d ago
7

This is a classic advance-fee scam, unfortunately. The 'risk premium insurance' is a made-up fee designed to extract more money from you. Legitimate brokers don't ask for upfront fees like this to release profits. The entire premise of showing you 'profits' on an unregulated platform is suspect. Your broker is likely EuroFX or one of its affiliates, known for these predatory tactics. Report this to the AMF France immediately. They are your best bet for any recourse, though recovery is often difficult once funds are sent. Do not send them any more money.

Mohammed Iqbal · Al Ain, UAEanswered 19d ago
5

Oh mate, I've been there. Felt like a total idiot afterwards. Mine was similar, though it was an 'admin fee' after I supposedly made a killing on some forex thing. They kept asking for more and more. Saw a notification on my banking app about suspicious activity *after* I'd already sent them like £5k. Just… don't send them anything else. It's gone. Cut your losses and be thankful it wasn't more.

Thomas Davies · Edinburgh, United Kingdomanswered 19d ago
6

Alarm bells ringing loud here. That whole setup screams scam. Nobody legitimate asks for an 'insurance' payment to release your own money. They invented that term to sound official. If you sent money through a regular bank transfer, check with your bank ASAP. If it was crypto, well, that's a whole other headache. Don't send another cent. This is how they reel you in for more.

Conor Lynch · Galway, Irelandanswered 19d ago
4

Wat vervelend! I know exactly what you mean about that sinking feeling. My cousin got caught by something similar with an investment app that promised the moon. They also wanted a 'processing fee' before he could get his money out. He ended up losing a few thousand euros. He was so ashamed but I told him it happens to loads of people. He’s now reporting it to the Autoriteit Financiële Markten (AFM) here in the Netherlands, even though it feels like a long shot.

Anna van den Berg · Tilburg, Netherlandsanswered 19d ago
6

This happened to me last year. They called it a 'compliance fee'. I paid it. Then they said there was a 'tax clearance' needed. Paid that too. Then the 'final transfer fee'. By the time I realized, I'd sent over €10,000. They just kept inventing new fees. I reported it to the police, but they said since the company was based offshore, there wasn't much they could do. Such a harsh lesson.

David Fischer · Stuttgart, Germanyanswered 19d ago
3

Oh no, that sounds incredibly stressful. It's completely understandable that you're worried, especially after putting in real money. You're right to be suspicious. Those kinds of 'fees' that appear out of nowhere are a major red flag. Don't let them pressure you into sending more. Maybe try contacting the French financial authorities, the AMF France, to see if they have any advice or if this 'broker' is even registered?

Eva van Dijk · Eindhoven, Netherlandsanswered 19d ago
4

The whole 'profits' thing appearing so quickly and then needing an extra fee to withdraw? Smells fishy. If it looks too good to be true, it usually is. Especially with crypto trading from social media ads. Are you sure this is a regulated entity? Most legitimate platforms are transparent about fees upfront, not springing them on you when you want your cash.

Saar Janssen · Nijmegen, Netherlandsanswered 19d ago
5

Bruh. That's the oldest trick in the book. 'Risk premium insurance' sounds fancy, but it's just a made-up term for a scam fee. They want you to panic and pay more. My uncle got hit with something similar from a fake forex site. Sent them $3k for a 'withdrawal tax'. Never saw a dime back. Just walk away, man. Don't feed the trolls.

Brandon King · Houston, USAanswered 19d ago
7

This is EXACTLY what happened to me. They said I owed a 'vat registration fee' for my profits. I paid it, thinking it was legit. Then they wanted a 'security deposit'. I was already down a few thousand euros. My husband told me to stop, but I felt so close to getting my money back. I lost everything. Please, please don't send them any more money. I wish I had listened.

Cian O'Connor · Belfast, Irelandanswered 19d ago
6

As a former compliance officer, I can tell you this is textbook advance-fee fraud. There is no such thing as 'risk premium insurance' in this context. Legitimate financial institutions, especially those regulated by bodies like the FCA or BaFin, operate under strict rules. They do not solicit 'insurance' fees to release client funds. Your platform is almost certainly unregulated and fraudulent. Your best course of action is to cease all communication, block them, and report it to your national financial regulator, the AMF France.

Cian Murphy · Dublin, Irelandanswered 19d ago
5

Red flag central. Seriously, this sounds like a classic scam. They build up your 'profits' to make you feel invested, then hit you with bogus fees to get more money before you can withdraw. Don't send it. You'll just be throwing good money after bad. If you paid via credit card, you might have some chargeback options, but with crypto or bank transfers, it's much harder. Report it to the police, but don't expect miracles.

Joshua Lau · Singapore, Singaporeanswered 19d ago
4

Oh goodness, I know that feeling all too well. A few years ago, I got caught in something similar. They said I had to pay a 'transfer fee' to get my winnings from an online poker site. I sent them like R10,000, and then they asked for 'tax clearance'. By the time I realised, I’d lost a small fortune. I tried reporting it, but since it was an international online thing, it was impossible to track down. Just don't send them more money.

Olivia Naidoo · Johannesburg, South Africaanswered 19d ago
3

Hey, it's totally normal to feel like this when you've invested money and then something unexpected comes up. But honestly, that 'risk premium insurance' sounds like a made-up charge. Most legitimate places are upfront about all their fees. Did you check if this broker is registered with the AMF France? If not, that's a huge sign. Try to cut your losses now and don't send them any more funds.

Sara Al Mansoori · Ras Al Khaimah, UAEanswered 19d ago
6

Wait — the profits were 'shown' to you? Not actually in your bank account? And now they want an *insurance* fee? This screams scam. They probably just photoshopped your account balance. Stop interacting with them. If you paid by credit card, dispute the charges. If you paid crypto, it's basically gone. Report them to whoever regulates financial services in France, the AMF France. They won't get your money back, but it helps authorities track these crooks.

Lucas de Vries · Tilburg, Netherlandsanswered 19d ago
5

Argh, I fell for a similar thing a while back. Had supposedly made a big profit on stocks via an online platform. Then they hit me with a 'capital gains tax' fee. I paid it. Then they wanted a 'legalisation fee'. Lost about €8,000 in total before my wife finally talked me out of sending more. It's a horrible feeling. They rely on you wanting your money so bad you'll keep paying. Don't give them another euro.

Charlotte Smith · Adelaide, Australiaanswered 19d ago
4

That 'risk premium insurance' sounds completely fabricated. If a broker demands fees to release funds they claim you've earned, it's almost certainly a scam. Check if your broker is regulated by a reputable authority like the ASIC or FCA. If they aren't, or if they claim to be regulated by an offshore entity, be very wary. Report them to the AMF France regardless. Don't send them any more money.

Connor Naidoo · Durban, South Africaanswered 19d ago
3

Oh man, this is rough. It's totally understandable that you're worried about losing what you've put in. My neighbour got caught by a very similar 'fee' after supposedly winning big on a lottery website. They wanted a 'verification fee' which turned out to be thousands of rands. She lost it all. Just please, whatever you do, don't send them any more money. It's a trap.

Faisal Al Nahyan · Ras Al Khaimah, UAEanswered 19d ago
5

A 'risk premium insurance' fee to release profits? Absolutely not legit. This is a common scam tactic used by unregulated brokers, often appearing on social media. They inflate your supposed earnings and then create fake fees to extract more money. You should report this to the AMF France and your local police. Do not send any further payments. The 'profits' are likely fictitious.

Xin Lau · Singapore, Singaporeanswered 19d ago
4

I got scammed like this too, but it was for 'investment processing fees'. They showed me big numbers on a fake website. I sent them like $5000. Then they said I needed to pay a 'wire fee'. I almost did it, but my sister convinced me to check online first. Found tons of stories like mine. Lost the $5000, but at least I didn't send more. It feels awful, I know. Sorry you're going through this.

Milan van den Berg · Breda, Netherlandsanswered 19d ago
6

This sounds exactly like OptionStarsGlobal, they did this to my friend last year. Showed him huge profits, then demanded a 'transaction insurance fee'. He paid it, and then they wanted another 'tax payment'. He lost his entire investment. He reported it to the police, but they said it was hard to recover funds sent via cryptocurrency to offshore accounts. Don't send them any more money, it's gone.

Mohammed Al Hashemi · Ajman, UAEanswered 19d ago

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