My 'broker' EuroFX is asking for a 'liquidity provision fee' to release my crypto profits. Is this a new scam?

asked 8d ago1 views10 answers
0

Hey everyone, I'm feeling really stressed out. I've been trading with EuroFX for about six months and actually, for the first time, turned a decent profit on some crypto trades. I tried to withdraw about 8,000 USD last week, and my account manager, 'Michael', told me it was all good, just a final step. But then yesterday, I got an email saying I need to pay a 'liquidity provision fee' of 1,200 USD before they can process the withdrawal. They said it's a standard regulatory requirement for large crypto withdrawals to ensure market stability, or something like that.

I've never heard of this before. My initial deposits were made via Wise, and one small one with crypto directly. Is this legit? Or am I about to lose even more money to a scam? I'm in Quebec City, and I'm really worried. Any advice would be appreciated. I'm afraid to pay, but also afraid of losing my profits if I don't.

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EuroFX· scamWise· trusted

10 Answers

45

Emma, this sounds like a classic recovery prevention scam tactic. No legitimate, regulated broker, especially for crypto, would ever ask for a 'liquidity provision fee' for you to withdraw *your own profits*. These are just made-up fees to squeeze more money out of you. EuroFX is a known unregulated entity, and the fact they're using terms like 'market stability' for a personal withdrawal is a huge red flag.

Your capital is likely already gone. Any funds you send now will also disappear. You need to stop all communication with them immediately. Do not send another cent. Gather all your transaction records, screenshots of your account, and communications. You might want to consider reporting this to your local financial authorities or even a police report. In the UAE, we see this all the time, these unregulated brokers operate globally.

Faisal Khan · Sharjah, UAEanswered 8d ago
70

Oh wow, Emma, this hit close to home. I had a similar thing happen with some sketchy broker that sounded legit at first. They got me for like 3k Euros with a 'tax pre-payment' nonsense. They promised they'd release my 'profits' right after. Guess what? Never saw a penny. The moment they ask for *more* money to get *your* money, it's a scam. Full stop. Cut your losses now. Any money you send for this 'fee' is just throwing good money after bad. I was so embarrassed after mine. Block them. For real.

David Hoffmann · Leipzig, Germanyanswered 8d ago
38

This whole 'liquidity provision fee' is absolute nonsense. Let me be very clear: *No legitimate financial institution or broker will ever charge you a fee to withdraw your own money*. If they ask for more money to release your funds, it's a scam. Period. End of discussion. Especially with entities like EuroFX, which has zero credible regulation. They're just preying on your hope of getting your money back. Don't fall for it, Emma. You're already a victim; don't become one twice.

David Schroder · Frankfurt, Germanyanswered 8d ago
21

Yep, Emma, sounds like the classic story. They entice you, show you fake profits, and then when you try to withdraw, suddenly there's a new, unheard-of 'fee'. 'Liquidity provision fee' is just another made-up term to steal more from you. Here in Australia, we see so many of these with unregulated platforms. The ACCC and ASIC constantly warn about this. It's a psychological trick – they make you think your money is just one payment away, but it never is. Stop all engagement. You won't get the 8k, and you'll just lose the 1.2k if you pay it.

Olivia Taylor · Darwin, Australiaanswered 8d ago
14

Don't pay it, Emma. Just don't. It's 100% a scam. I had a mate who got caught in something similar with OptionStarsGlobal, they called it a 'profit activation fee'. Same game, different name. These scam brokers, like EuroFX, just create new fees on the fly once you try to withdraw. They know you're desperate to get your money, so they keep pushing. Sorry to be blunt, but your 'profits' likely don't exist. It's fake money on their platform to keep you hooked. Block them and don't look back.

Mia Taylor · Darwin, Australiaanswered 8d ago
33

Emma, as someone who frequently deals with financial fraud cases here in Abu Dhabi, I can confirm that a 'liquidity provision fee' for a personal withdrawal from a broker like EuroFX is a significant red flag. Legitimate brokers manage their own liquidity and regulatory compliance; they don't burden individual clients with such charges to access their own funds. This is a common tactic employed by unregulated and fraudulent entities to extract additional payments.

My advice is unequivocal: do not pay this fee. Paying it will only lead to them inventing another fee, and then another, until you either run out of money or realize the futility. Your focus now should be on reporting this to your local fraud department and discontinuing all communication with EuroFX. Attempting a chargeback with Wise for your initial deposits might be an option if enough time hasn't passed, but speedy action is crucial.

Yusuf Al Suwaidi · Abu Dhabi, UAEanswered 8d ago
19

This is almost text-book scam behavior, Emma! A genuine broker, *especially* one dealing with regulated assets or even commonly traded crypto, would never impose a 'liquidity provision fee' on *you* for withdrawal. That's absurd. This is their way of trying to get you to send more money. If they're unregulated, which EuroFX is, they can make up any kind of fee they want because there's no oversight. In the UK, the FCA constantly issues warnings against such entities. The 'profits' you see on their platform are likely not real. I'd strongly advise against paying anything further. Instead, document everything and report them to Action Fraud in the UK or relevant authorities in Canada like the AMF.

Isla Roberts · Cardiff, United Kingdomanswered 8d ago
11

Yeah, Emma, absolutely a scam. A 'liquidity provision fee' for withdrawing your own money? That's just ridiculous. In the Netherlands, any broker regulated by the AFM would never, ever pull this kind of nonsense. It's a classic sign of an unregulated scam outfit trying to get a final bite at the cherry. They show you profits, get you excited, then invent fees until you give up or run out of money. You'll never see that 8k, and you'll just lose the 1.2k if you pay it. Sorry, but it's the sad truth. Cut them off. Save yourself any further heartache and financial loss.

Levi de Jong · The Hague, Netherlandsanswered 7d ago
8

Don't even think about paying that fee, Emma. Seriously. It's a scam, plain and simple. Every single time you hear about some weird, unexpected fee to 'release' your money, it's a scam. They just made that phrase up to sound official. EuroFX is known for this kind of shady stuff. You'll pay the 1,200USD and then they'll come up with *another* fee. This is how they operate. They're gambling on your desperation. Your money is gone, I'm sorry to say. Do not deepen the hole. Just report them and move on.

Lotte de Jong · Eindhoven, Netherlandsanswered 7d ago
6

Oh honey, I'm so sorry you're going through this. It's absolutely a scam. A 'liquidity provision fee' is not a thing real brokers do for client withdrawals. They just make up fancy-sounding names to trick people. I've heard too many stories like this, even here in South Africa. The moment they ask for more money to give you yours, it's over. Don't send another cent. You'll only be throwing good money after bad. It's tough to accept, but those 'profits' probably aren't real, or they're just not letting you have them. Please stop communicating with them.

Emma Kruger · Johannesburg, South Africaanswered 7d ago

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