FXTM is demanding a 15% 'trading turnover tax' to release my profits. Is this legit?

This is a classic scam tactic, Olivia. Let me be absolutely clear: there is no legitimate 'trading turnover tax' demanded by a broker for withdrawals. Regulated brokers operate under strict financial guidelines, and they *never* ask for an upfront payment from your own funds to release *your* profits. This is a direct red flag. What they're trying to do is get more money out of you before they eventually cut you off completely. They'll keep inventing new fees – 'anti-money laundering fees,' 'regulatory compliance fees,' 'transfer fees' – anything to extract more cash. FXTM uses some regulated entities and some offshore ones, so depending on which specific entity you signed up with, you're likely dealing with an unregulated arm. Your best bet is to gather all your communications, transaction records, and screenshots, and then reach out to a chargeback specialist or your bank if you used a card. Don't send them another cent.

This whole 'trading turnover tax' is 100% a red flag, Olivia. As soon as a broker starts demanding *additional* funds from you *before* they'll release *your own money*, you're almost certainly dealing with a scam. Legitimate brokers deduct fees or commissions from your trading account balance, they don't ask you to pay them separately out-of-pocket for withdrawals. This is a tactic designed to milk you for more money. My advice is to immediately cease all further deposits or payments to them. Your next steps should focus on recovery through other channels: if you deposited via credit card, initiate a chargeback with your card issuer. If it was a bank transfer, contact your bank, though this is often harder. Keep records of everything: deposits, withdrawal requests, chat logs, emails. This is crucial evidence for any recovery attempts. Don't fall for the 'they'll freeze it indefinitely' scare tactic.

Oh non, Olivia, that's definitely a escroquerie. I had a similar thing happen to me with some binary options platform called OptionStarsGlobal a few years back. They said I had to pay a 'bonus unlock fee' to get my money, even though I never even asked for a bonus. It was like 20% of my balance. I paid it, stupidly, and then they asked for another fee, for 'international transfer' or something. Each time I paid, they'd come up with a new reason. Eventually, they just stopped responding. My account disappeared. Don't make my mistake, don't pay them anything else. It's a trap.

Okay, that 'trading turnover tax' sounds like total garbage. This is a common warning sign with these kinds of platforms. They prey on people's fear of losing their money and their hope of recovering gains. What they're doing is creating a sense of urgency and false legitimacy. A real financial institution would never, ever operate this way. If you haven't already, try to make a small withdrawal now, even if it's just like $50 or $100. Sometimes, very rarely, they'll process a small one to make you think it's working before pulling the rug out. But truly, this smells like a recovery scam setup where they'll ask for endless fees. Stop all communication with them.

Ja, I know this feeling. I was caught by IronFX offshore a few years ago. Made some profits, tried to withdraw, and suddenly there was a 'compliance fee' because I was 'trading too aggressively'. Didn't make any sense. My gut told me it was wrong, like your gut is telling you now. I didn't pay it, tried to go through my bank. It was a long fight, but eventually my bank did a chargeback for a good portion of what I deposited. It's hard, but don't give them more money. They will just take it. Get all your proof together. Every email, every communication, every transaction. It helps a lot when you go to your bank.

Oh wow, that's awful. This sounds EXACTLY like what happened to a friend of mine with EuroFX. They kept saying he needed to pay 'system maintenance fees' and then 'anti-laundering fees' before they'd release his so-called profits. He ended up paying an extra 3k EUR just hoping to get his initial 7k back, and then poof, they were gone. No more contact, website went down. It's a trick to get more money out of you. Do NOT send them any more cash, not a single cent. You have to cut your losses now, otherwise you'll just dig a deeper hole.

Mate, I'm really sorry you're going through this, it's an awful position to be in. That 15% 'tax' is an absolute fabrication, pure and simple. No legitimate broker would ever do that. It's a classic move by scam operations to squeeze more funds out of victims before they finally disappear. Your gut feeling is spot on. I'd recommend you download all your transaction history, account statements, and any communication you've had with them. Every single bit of evidence you can get your hands on. Don't reply to your account manager anymore. Focus on trying to get your money back through your bank or credit card company via a chargeback. Good luck, hope you can sort it.

Definitely a scam. A legitimate 'trading turnover tax' doesn't exist, especially not one that a broker demands directly from you before a withdrawal. Taxes on trading profits are typically handled by you, the individual, when you file your income taxes with your government (like the CRA in Canada), not paid directly to the broker. This sounds like an unregulated entity operating under the guise of the legitimate FXTM brand (which *does* have regulated entities, but also offshore ones that can be problematic). The moment they ask for upfront fees to release your funds, it's a huge red flag. Focus on gathering evidence and pursuing a chargeback if you used a credit card or a bank dispute if you used a wire transfer. Don't engage further or pay them anything.

I see this all the time, Olivia, and it breaks my heart. This 'trading turnover tax' is 100% a scam. It's a fabricated fee designed to extort more money from you. The broker has no legal authority to impose or collect such a tax. Actual taxes on your trading profits are your responsibility to declare to your country's revenue service, not paid to an unregulated broker as a condition for withdrawal. You're dealing with a scam operation. Your best course of action is to try a chargeback if you used a credit card. For bank transfers, it's much tougher, but you still need to report it to your bank. Whatever you do, do not pay that 15%. You'll just lose more money. You need to cut off communication and focus on investigating recovery options with financial specialists who understand these scams.

Yeah, nope, that sounds super dodgey. 'Trading turnover tax' by the broker? That's not a real thing, mate. Sounds like they're just trying to squeeze you for more cash. I had a mate who had a similar thing with some crypto platform that demanded a 'liquidity release fee' to get his coins out. He paid it, and then they asked for another 'government audit fee'. It never ends. Your gut is right. Don't pay it. Just collect everything you have – emails, screenshots of your account, deposit confirmations – and go to your bank ASAP to see if they can do anything. Especially if you used a credit card for the deposits, you might have some luck with a chargeback.

Oh wow, that sounds incredibly stressful. Ngl, that 15% tax demand is a massive red flag. Regulated brokers like FXTM (if they are indeed properly regulated in your jurisdiction, which you can check with your local financial authority) don't typically ask for upfront 'taxes' like this to release profits. Real income tax is something you'd deal with when filing with the government, not paying to the broker. This smells strongly of a scam, unfortunately. Your account manager demanding it and issuing threats about freezing funds? Classic pressure tactics.

Oh no, that sounds terrible! I'd be freaking out too. It's so hard when you've worked hard to make money and then something like this pops up. Don't let them scare you into paying anything you're not sure about. Maybe try contacting FXTM directly through their official customer support channels, not through your account manager? Find the general support email or phone number on their *official* website, not one they gave you. See what they say.

A 'trading turnover tax' demanded by the broker itself? That's novel. I've been trading for years and never encountered such a thing from a legitimate platform. It's almost certainly fabricated. What jurisdiction is FXTM supposedly regulated in? If it's one of the well-known ones like FCA or BaFin, you can check their registers. A quick look at FXTM's site shows they are regulated by the FCA (UK), CySEC (Cyprus), and FSCA (South Africa) – but you need to be sure which entity you're dealing with. If it's an offshore entity, that's often a bad sign.

Yikes, that sounds like a nightmare! I'm so sorry you're going through this. That 15% sounds really suspicious, especially if it's not mentioned on their site. Did you get any kind of official documentation for this 'tax'? Like an invoice or a notice from a tax authority? If not, I'd be very hesitant. Keep all your communication records, just in case. Maybe a quick chat with a consumer protection agency in Canada could offer some advice?

Yeah, this is a common scam tactic, unfortunately. They lure you in, let you make some 'profits', and then hit you with an 'unexpected tax' or 'withdrawal fee' that doesn't exist. The goal is to get you to send more money, and then they disappear. What jurisdiction is FXTM registered in? Because if it's not a reputable one, it's basically unregulated, and they can do whatever they want. Definitely don't send them another cent until you've confirmed this 'tax' with an actual regulatory body, not just your 'account manager'. Check with the CFTC if you're in the US, or equivalent bodies elsewhere.

Listen, mate, do NOT pay that 15%. Seriously. This is a classic offshore scam pattern. They'll invent fees, taxes, 'processing charges' – anything — to get more money out of you. If they're demanding a 'trading turnover tax', it's complete BS. There's no such thing from a broker like that. They are regulated by multiple bodies, but that doesn't mean the specific entity you signed up with is legit or operating correctly. If you've only communicated with this 'account manager' and haven't found official channels to verify this, it's almost certainly a fraud. Report them to your local securities regulator and the FCA immediately.

This situation screams 'advance-fee scam'. Brokers don't levy 'turnover taxes'. This is a fabrication designed to extract more funds from you before you realize they have no intention of letting you withdraw anything legitimately. Proper brokers operate under strict regulatory frameworks which govern how profits are handled and when taxes apply (which are almost always declared and paid by the individual trader to their respective tax authority, not the broker).

Here's what you should do:

• Cease all communication with the 'account manager'.
• Verify FXTM's regulatory status in your country. Use official government financial services websites. Check if the entity you're registered with is listed and in good standing.
• Contact FXTM's official, publicly listed customer support (via their main website, not links provided by the manager) to inquire about withdrawal policies and any mandatory fees. Ask for official documentation.

Oh goodness, that sounds so stressful! I can only imagine how worried you must be. Hang in there! It’s really good you’re asking around here before paying them anything. That 'tax' sounds super weird and not like anything I've heard of. Maybe try looking for a *general* customer service contact for FXTM on their website, not just your account manager? Sometimes they have a chat support or a main email that isn't tied to an individual. Just asking them directly about withdrawal fees might be helpful?

This is a classic move, unfortunately. I've seen similar reports with other operations that weren't properly regulated, or even outright scams like EuroFX. They invent nonsensical fees – 'taxes', 'clearing fees', 'compliance charges' – anything to get you to send more money. The trick is they *threaten* to freeze your account if you don't pay, making you panic. Legitimate brokers regulated by bodies like BaFin or the FCA will *never* demand upfront taxes like this. You deal with your own country's tax laws separately. Don't pay. Try to report this to BaFin if you're in Germany, or your local financial regulator.

Oh wow, that's rough! So sorry you're dealing with this. I had a similar scare with a crypto platform once – they asked for an 'API tax' before releasing funds. Total scam. What I ended up doing was reporting them to a site called Nethertrace. They help track down these kinds of fraudulent operations. I didn't get my money back in that case, but it felt good to at least report it. Might be worth looking into if you feel you've exhausted other options. Sending good vibes your way!

Urgh, another one. This 15% 'trading turnover tax' is a made-up fee. It’s not a real thing. They want you to pay it and then they'll likely invent another fee, or just block you entirely and disappear. The fact that your 'account manager' is being pushy and threatening is a huge red flag. Real brokers don't operate like that. Have you checked the AMF France register, or the FCA's register? If the FXTM entity you're dealing with isn't listed, or is listed with warnings, then it's game over. Do yourself a favor and don't send them any more money.

Mate, I've seen this happen to mates before. It's a scam 100%. They promise the moon, you make a bit, then BAM, they hit you with some bogus 'tax'. Never pay it. The best thing you can do is report them. Check with your country's financial conduct authority. In the UK, it's the FCA. They have a section on their site for reporting scams. Might not get your money back, but it stops them doing it to someone else. Also, check if these guys are regulated by anyone solid like CySEC or FCA. If not, walk away.

I was in your exact spot last year. Put in $8k with a broker called OptionStarsGlobal, made a few grand profit, and then they demanded a 'commission tax' to release it. Called it 10% or something. Sounded dodgy, but my hubby had just lost his job, and I really needed that cash. Paid it. Then they asked for *another* fee for 'digital currency transfer'. That's when I knew I was screwed. Never saw a cent again. They vanished. Tried reporting to ASIC here in Aus, but it took ages and nothing happened. That 15% is a lie. Do NOT pay it. Go to Nethertrace.co and report them. Maybe they can help you, they helped me get some closure anyway.