My 'broker' EuroFX is asking for a 'risk assessment premium' to release my profits. Scam?

asked 13d ago6 views30 answers
0

I started trading with EuroFX a few months ago after seeing an ad on Instagram. i put in like $500 initially, then little by little, the 'account manager' convinced me to put in more, saying the market was really good. Now i've got about $7k in my account, according to their platform. I tried to withdraw some of it last week because I need the cash for rent, and suddenly they're telling me I need to pay a 'risk assessment premium' of $1200 before they can process any withdrawals. They said it's 'standard procedure' for high-profit accounts to ensure full compliance and blah blah blah. I'm already pretty stretched thin, and this just feels off. I've never heard of this before. Is this some new scam tactic? Or like, is this actually a thing with forex brokers? I'm worried I'm going to lose everything.

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EuroFX· scam

30 Answers

47

This is a very common tactic, Yi. Unregulated brokers, especially ones that have gained notoriety for these practices like EuroFX, often invent fees such as 'risk assessment premiums,' 'tax clearance,' 'compliance fees,' or 'account activation charges' right when a client attempts a withdrawal. The goal is simple: to make you deposit more funds into their account, which they will inevitably steal. The 'profits' you see on their platform are entirely fictitious. They manipulate the numbers to entice you to invest more and then to pay these 'withdrawal fees.' My advice, based on experience with countless such cases, is to cease all communication with them and absolutely do not pay any further amounts. Your initial investments are likely gone, but do not compound your loss.

Aisha Khan · Sharjah, UAEanswered 13d ago
41

Oh man, Yi, heard this one a million times. Ngl, the moment they ask you for *any* fee to release *your own money*, especially after you've supposedly made a 'profit,' that's a gigantic red flag. A legitimate, regulated broker, like one overseen by the FCA or CFTC, just doesn't operate like that. They take commissions or spreads on trades, maybe a withdrawal fee for certain methods, but never a 'risk assessment premium' to let you access your funds. Think about it, they're holding your money. If they want to assess risk, that's their cost of doing business, not yours. This is a classic tactic used by unregulated entities like EuroFX to squeeze more money out of you. Unfortunately, it's highly likely your money isn't really there; the 'profits' you see on their platform are just numbers they control. Stop sending them any more money, full stop.

Jacob Cote · Vancouver, Canadaanswered 13d ago
22

Ugh, sounds super stressful, Yi. It's horrible what these scammers do. Please, please don't pay that fee. Everyone on this forum, and honestly, every financial expert will tell you that any 'broker' asking for weird fees *to withdraw your own money* is a scam. Legitimate financial institutions don't do that. It's just another way for them to try and extract more money from you before they ghost you. I know it feels like you're so close to getting your funds, but paying them more will just mean losing more. Take a breath and focus on reporting it, not paying them.

Ava White · Melbourne, Australiaanswered 13d ago
38

100% scam. No reputable broker, and definitely not one regulated by folks like the CFTC in the US or the FCA in the UK, asks for some 'risk assessment premium' outta nowhere before you can withdraw. That's just a made-up fee to trick you into sending more money. They already got your initial deposits, and now they're trying to get a little extra before they disappear with it all. The 'high-profit accounts' bit is just psychological manipulation to make you think you're special and that THIS fee is 'worth it.' Please don't fall for it.

Brittany Miller · Atlanta, USAanswered 13d ago
19

Oh non, Yi. This is a classic scam, so sorry you're going through this. A real broker, like one regulated by the AMF in France or BaFin in Germany, would *never* ask you for a 'risk assessment premium' to withdraw your profits. That's just completely made up. These scammers prey on people in your exact situation, making you think you're just one payment away from getting your money. Don't send another cent. You'll just be throwing good money after bad. It's tough, but you need to accept that the money you sent them is probably gone.

Lina Moreau · Bordeaux, Franceanswered 13d ago
25

Ugh, this happened to me too, but with a different 'broker' that turned out to be totally fake. They called it a 'regulatory compliance fee' after I tried to withdraw about 5k. I got so mad, I almost paid it because I was desperate. My husband actually stopped me and said it sounded too fishy. Trust your gut Yi, and everyone here. This 'risk assessment premium' thing with EuroFX is absolutely a scam. You never pay to get your own money back. Never.

Sara Al Falasi · Ajman, UAEanswered 13d ago
12

Yeah, that's not a thing. 'Risk assessment premium' for withdrawing? Give me a break. Sounds like they just invented a fancy-sounding term to get more money out of you. Every time I hear about these weird fees related to withdrawals from unregulated brokers, it's always a scam. It's designed to make you panic and just pay up to get your supposed 'profits.' I'd say cut your losses now before you throw more money into their black hole.

Matthew Anderson · Boston, USAanswered 13d ago
8

Honestly, Yi, any time a 'broker' pulls a new, obscure 'fee' out of their hat right when you're trying to get *your* money, it's dodgy. A 'risk assessment premium' to withdraw? That's just wild. The whole point of those platforms is to make money from actual trading, not charge arbitrary withdrawal fees. And if they're unregulated, like EuroFX likely is (FCA issued a warning about FXChoice, many like it operate from the shadows), then they can make up whatever rules they want. What's gonna stop them? Just cut bait, friend. It stinks, but don't get sucked into paying even more.

Emma Pelletier · Edmonton, Canadaanswered 13d ago
15

This whole 'risk assessment premium' is total garbage, Yi. I had a similar experience with one of those fake crypto platforms last year – they wanted a 'liquidity fee' before I could get my money out. My gut told me it was a scam, but I was so invested in getting my 'profits,' I almost paid it. Thankfully, a friend talked me out of it. It's just a tactic to get you to send more money. Please, don't pay anything else. Your money is probably gone, and paying more just adds to the loss.

Grace White · Darwin, Australiaanswered 13d ago
30

Oh Yi, I'm so sorry, that sounds incredibly frustrating and stressful. Jacob, Ava, Brittany, Aisha, Lina, and Sara are absolutely spot on: this is a classic scam tactic. A legitimate broker will never ask you to pay a fee to *release* your own funds, especially not a made-up one like a 'risk assessment premium.' They're hoping you're desperate enough to pay it. The 'profits' you see on their platform are fake, designed to draw you in and then scam more money from you. My heart goes out to you. Please do not send them another cent. It's painful, but the best thing you can do now is report it to your local authorities and try to move on.

Charlotte Gagnon · Calgary, Canadaanswered 13d ago
3

This smells rotten, tbh. EuroFX is not a regulated entity I recognise under the AFM or any European authority. That 'risk assessment premium' is a classic fake withdrawal fee. They're trying to squeeze more money out of you before ghosting. Report them to the AFM, and definitely don't send them another cent. They are running a Ponzi-like scheme.

Levi de Vries · Eindhoven, Netherlandsanswered 13d ago
2

Oh wow, that's really tough. I can see why you're worried, especially with rent due. My cousin in Nigeria got caught by something similar last year. They asked for 'taxes' on winnings. It’s heartbreaking. Don't send them the money. You need to file a complaint with the CFTC. They might not get your money back, but it's important to report it. That $7k is likely not real anyway.

Joshua Pillay · Johannesburg, South Africaanswered 13d ago
2

Yeah, 'risk assessment premium'? Sounds made up. What kind of 'risk' are they assessing? The risk that you'll ask for your own money back? Most legitimate brokers don't do this. The few times I've withdrawn from established platforms, it was just a standard processing time, maybe a small wire fee. This smells like Forex Choice all over again.

Mason Gauthier · Montreal, Canadaanswered 13d ago
1

Hang in there! That's a horrible situation, but you're being smart by questioning it. Never heard of that fee before myself. It's so frustrating when you're just trying to get your own profits out! You're doing the right thing by asking. I hope you can get this sorted. Maybe check if they are listed with the FCA or another regulator.

Hugo Lefebvre · Nice, Franceanswered 13d ago
3

EuroFX is not a broker registered with the Netherlands Authority for the Financial Markets (AFM). Their claims about 'risk assessment premium' are bogus. Legitimate brokers are regulated and transparent about fees. This is a common tactic by unregulated firms to extract more funds. Once you pay, they'll likely invent another fee. You should report this operation to the AFM and consider filing a report with the local police's financial crime unit.

Daan Bakker · The Hague, Netherlandsanswered 13d ago
4

I've seen this play out before, unfortunately. That '$7k' on their platform is likely imaginary. The scam artists behind unregulated brokers like EuroFX create fake profits to lure victims. The 'risk assessment premium' is just another hurdle to bleed you dry. If they were legit and regulated by, say, the FCA, they would have clear withdrawal policies and no such arbitrary fees. Block them, report them to the CFTC, and accept the initial loss. It's painful but better than sending more money.

Eva Mulder · The Hague, Netherlandsanswered 13d ago
5

This happened to me too! They called themselves 'Global FX Invest'. I put in 1000 euros and they showed 4000 euros profit. Then they asked for a 'transfer fee'. I paid it, then they said I needed to pay 'tax'. It never ends. I lost 1500 euros in total. Please don't send them any more money. They are criminals. I reported it but nothing happened.

Hassan Sheikh · Abu Dhabi, UAEanswered 12d ago
1

Oh no, that sounds incredibly stressful, especially with rent hanging over your head. You're definitely not alone in facing this kind of nonsense. Many people have been targeted by fake brokers. The best thing you can do right now is to stop communicating with them and report them to the relevant authorities. The CFTC is a good place to start for US-related scams, even if you're not in the US yourself.

Olivia Gauthier · Edmonton, Canadaanswered 12d ago
5

Argh, sounds like my situation from last year. They were called 'Forex Leaders Pro' or something. Told me I needed to pay a 'verification fee' of 500 euros to get my 3000 euro profit released. Sent it through, then they asked for 'capital gains tax'. That's when I knew. Total scam. I lost my initial investment and the fee. Please, please don't pay them that 1200 euros.

Mees de Boer · Almere, Netherlandsanswered 12d ago
2

That sounds incredibly frustrating! You did the right thing by pausing and asking. It's easy to get swept up when they show big numbers, but that 'premium' is a huge red flag. Report them to the CFTC immediately. And for future reference, always check if a broker is regulated by a reputable body like the FCA or BaFin before depositing any funds. Never pay extra fees to withdraw.

Charlotte Ouellet · Calgary, Canadaanswered 12d ago
2

Okay, hold up. A 'risk assessment premium'? When have you ever heard of that? It's not a term used by any regulated broker I've ever dealt with. Sounds like a story cooked up on the spot. They probably don't even have $7 actual dollars in your account. They're preying on people needing money. Don't send them jack.

Leo Durand · Toulouse, Franceanswered 12d ago
5

I was in your shoes. They promised me mountains of gold with 'Prime FX Markets'. Asked for a 'compliance fee' to release my supposed $5k profit. Married, kids, needed the money for school fees. Paid it. Then they wanted 'international transfer costs'. I was devastated. I eventually reported them to the FCA, but it was too late. Learn from my mistake: NEVER pay them more money. Block and report. The money on the screen is fake.

Hannah Naidoo · Cape Town, South Africaanswered 12d ago
5

This same thing happened to me last year with 'Global Trade Options'. The account manager assured me it was all above board, just 'standard procedure'. I paid the fee, about $800, to get my $4000 profit. Then they hit me with another demand for 'anti-money laundering checks'. That's when I stopped. I lost my initial $500. They're just thieves. You need to report EuroFX to the CFTC and cut your losses. They'll just keep asking for more money.

Sem de Vries · Nijmegen, Netherlandsanswered 12d ago
4

OMG, that's exactly what happened with 'Secure FX Trading' like six months ago! My husband saw an ad, put in maybe $1000. They showed him $6k profit on their app. Then they asked for a 'liquidity deposit' of $1500. Said it was needed to 'unblock' the account. He wired it. Poof. They disappeared. The app went offline. Don't pay them anything. Report them to the CFTC. That $7k is gone.

Noor Al Falasi · Ras Al Khaimah, UAEanswered 12d ago
4

This is a known scam. They show you fake profits and then demand fees to release them. EuroFX is not regulated by BaFin or any other serious financial body. The 'risk assessment premium' is invented. They operate out of a jurisdiction where they can't be easily prosecuted. You've likely lost your initial investment already. The best course of action is to report them to the CFTC and the AFM and accept that the funds on the platform are not real. Do NOT send them additional money.

Yusuf Al Mansoori · Dubai, UAEanswered 12d ago
4

Hey, warning here. EuroFX is not on any regulatory list I can find from BaFin, FCA, or CFTC. That 'risk assessment premium' is absolute nonsense. Once they get that $1200, they will invent another reason why they can't release your funds. This is a classic advance-fee fraud. You need to cease all communication with them immediately. Report them to the relevant financial regulators in your country and possibly Interpol if you know their physical location or bank details.

Hassan Khan · Abu Dhabi, UAEanswered 12d ago
5

I got burned by IronFX offshore a few years back. Similar story - they showed me insane gains, then wanted a 'tax clearance fee' before I could withdraw. Paid it. Then they wanted a 'legalisation fee'. Ended up losing about $3000. The money on their platform was completely fake. Please, for the love of god, do not send them that $1200. Report them to the CFTC. It's the only thing you can do.

Ibrahim Khan · Abu Dhabi, UAEanswered 12d ago
3

That sounds exactly like what happened to my sister last year with 'Crypto FX Bank'. They had a fancy website and everything. She put in $2000, they showed $10,000 profit, then asked for a $1000 'admin fee'. She paid it. Then they ghosted her. Don't send them the money. Check if they are regulated by the FCA or CFTC. If not, it's a scam.

Lucas Johnson · Hobart, Australiaanswered 12d ago
4

Mate, that's a classic exit scam. They entice you with fake profits on a dodgy platform and then bleed you dry with fabricated fees before vanishing. EuroFX is almost certainly not regulated by any reputable body like the FCA or CFTC. That 'risk assessment premium' is absolute rubbish. Don't pay it. Report them through the CFTC website. It's the best way to get them on the radar.

Conor Murphy · Waterford, Irelandanswered 12d ago
4

Dodgy story. 'Risk assessment premium' isn't a real thing in forex trading. They've seen you have profit, and now they want your initial capital plus more before disappearing. This is textbook, like that FXChoice scam that did the rounds. You need to file a report with the CFTC immediately. Don't give them another cent. That platform balance is likely a fantasy.

James Doyle · Belfast, Irelandanswered 12d ago

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