My 'broker' FXTradeGlobe says I need to pay a 'VAT on profits' before I can withdraw. Is this legit?

Okay, Daniel, I'm really sorry to hear this, but what you're describing is a classic scam tactic. A legitimate broker would *never* ask you to pay a 'VAT on profits' or any other kind of upfront fee *to release your own funds*. Taxes are paid to your *government's tax authority* (HMRC in the UK, Belastingdienst in NL, etc.), typically after you've actually received the profits and usually through self-assessment or a tax declaration, not directly to your broker before a withdrawal. The broker's role is to facilitate trades, not collect taxes directly for the government via a pre-withdrawal fee. This 'account manager' pressuring you is part of the scam, trying to panic you into paying more. They're likely hoping you'll keep pouring money in, chasing the 'phantom' profits shown on their fake platform.

Hey Daniel, I'm really sorry this is happening to you. It's incredibly stressful when you think you've made money and then they pull something like this. Sophie's right, this is a classic scam. The 'account manager' is just a scammer, not a real financial advisor. They show you those fake profits on their platform to keep you hooked and paying. Your best bet is to gather all the evidence you have – screenshots of the platform, transaction records, emails, chat logs with the 'manager' – and report it to Action Fraud in the UK. Also inform your bank, sometimes they can help if you've sent money recently. Stay strong, mate.

Oh man, this brings back bad memories. I lost a good chunk of change a few years ago with a similar setup. They called it a 'regulatory compliance fee' but it was the exact same thing – a fake fee before withdrawal. I kept paying, thinking I was so close to getting my money out. Each time, they'd come up with a new excuse. Eventually, I realized it was all gone. Please, please don't pay anything else. Cut all contact with them. You're just throwing good money after bad at this point. It hurts, but it's better to stop now than lose even more.

This is a massive red flag, Daniel. Like, a blinking neon sign. NO legitimate broker in their right mind would ever ask for a 'VAT on profits' payment directly to *them* before you can withdraw. VAT is a consumption tax, generally on goods and services, not profits from trading, and certainly not paid *to* a broker. This is just another made-up fee to try and extract more money from you. The moment they demand upfront payment to release *your* money, it's a scam. Seriously, don't pay. Walk away. Any money you send now will also be lost.

Ugh, another one. 'VAT on profits'? That's a new twist on an old classic, I guess. I've seen 'AML fees', 'security deposit fees', 'tax clearance fees', all sorts of made-up nonsense. They're just preying on your desperation to get your 'profits'. The profits aren't real, dude. That balance on their platform is just a number they control. You send them 3k, they'll invent another fee for 5k next week. It's a bottomless pit. Sorry to be blunt but you need to hear it.

Absolutely a scam, Daniel. Please do not pay them another cent. This is how they operate – they create a sense of urgency and fear (you'll 'lose everything') to pressure you into making rash decisions. No legitimate financial institution demands upfront payments for taxes *to them* before processing a withdrawal. In Singapore, MAS regularly warns against such unregulated entities. You'll find FXTradeGlobe is almost certainly not regulated by the FCA or any other reputable body. If you pay the 'VAT', they'll invent another fee, and another, until you either run out of money or realize the truth. Stop all communication.

Look, Daniel, I've seen this play out far too many times. This is textbook. The 'broker' is unregulated, the 'account manager' is a con artist, and the profits displayed on their platform are entirely fictitious. They create these elaborate dashboards to make you believe you've made money, then introduce a bogus fee (like this 'VAT on profits') as a barrier to withdrawal. The goal is to get you to send *more* money. Any funds you send now will not go towards releasing your profits; they will go directly into the scammers' pockets. Your focus should be on cutting losses and reporting this, not on trying to recover money by sending more. Contact your bank and report to Action Fraud. Sadly, recovery is often difficult.

Ugh, I'm so sorry, Daniel. Been there. Back in 2021, I got tangled with a 'broker' called FXChoice (they're listed as unregulated btw, learned that later) and they pulled a similar stunt. First it was a 'withdrawal security fee', then a 'conversion fee' because I supposedly had too much USD. Each time, I paid, thinking I was just one step closer to getting my 8k back. It was all lies. I lost about 4k more trying to get my initial 8k. It felt like I was being held hostage. The only way out was to stop paying. It's a bitter pill, but you have to accept that the money shown on their platform isn't real. Don't fall for the sunk cost fallacy like I did.

Daniel, this 'VAT on profits' is a complete fabrication. Scammers make up these fees to trick people into sending more money. They often target people in countries with actual VAT, hoping you'll confuse it with something legitimate. But even in a legitimate scenario, VAT wouldn't be collected by a broker on your trading profits before withdrawal. This is a very common tactic used by unregulated offshore entities. Please, do not engage further with them. Block them, report them. They are trying to drain you completely. The 'account manager' is just playing a role.

Man, that sucks to hear. I almost fell for something similar myself last year, different 'broker' but the same story: big profits, then 'fees' to withdraw. Mine was a 'liquidity assurance fee', lol. I ended up calling my bank, Chase, and they were really helpful actually in flagging the transactions as potential fraud, though it was too late for the initial deposit. The key thing here is: legit brokers don't operate like this. If they're asking you for money to *get your own money back*, it's a scam. Full stop. Cut them off. Report it to Action Fraud. Your 'profits' are just numbers on a screen they control.

This is a classic red flag. Reputable brokers, especially those regulated in the UK (under the FCA), do not ask for upfront 'VAT on profits' or any similar fees to release funds. VAT is a tax levied on consumption, not typically on trading profits in this manner, and certainly not collected by the broker directly for release. If FXTradeGlobe claimed to be regulated by the FCA, you can check the FCA Register. If they are not regulated or based offshore, that's another huge warning sign. The pushy 'account manager' demanding immediate payment is also highly suspicious. Honestly, it sounds like a scam to get more money from you. Report this to Action Fraud in the UK immediately.

Oh wow, that sounds incredibly stressful. I can only imagine how worried you must be, especially with bills piling up. I haven't personally encountered this with my forex trading, but it doesn't sound right at all. Brokers usually take their commission or spread, but this 'VAT on profits' sounds really off. Try not to let them pressure you into paying anything more. Maybe check if the FCA has any consumer advice on their website? Sending you positive vibes for sorting this out!

VAT on profits? Nah, mate. That's not how it works. I've been trading for a few years, done a bit with crypto CFDs too, and never once been asked for something like that before a withdrawal. If they were a proper UK-based, FCA-regulated firm, they'd be much more transparent. This whole story smells fishy. They're probably just trying to milk you for more cash before you realise you can't get any of it out. Sorry to hear you're going through this, it's a nightmare.

This is very concerning. In my experience with trading platforms here in the UAE, such upfront fees for profit tax are not standard practice for withdrawal. Any taxes are usually handled separately, or the platform clarifies the tax implications clearly from the start, not as a surprise barrier to accessing your funds. The pressure tactics from the 'account manager' are a big red flag. I would strongly advise against sending any more money until you've verified this independently. Have you tried checking any financial regulatory bodies in the UK?

Yoh, that sounds like a tough spot to be in. It's heartbreaking when you think you're making progress and then hit a wall like this, especially when money is tight. I don't trade CFDs myself, but my brother does forex and he's never mentioned anything like this. Keep your chin up, though! Maybe you can find some resources online or even contact a consumer protection agency in the UK? They might have advice. We're all rooting for you to get your money back.

This is exactly what happened to me last year! I lost about €5,000 with a platform called 'Global FX Markets' – they also told me I had to pay a 'capital gains tax' upfront before they'd release my winnings. I was so desperate to get my money out to cover rent, I actually paid it. Then they came up with another excuse, something about a 'transaction fee'. It never ended. They just kept asking for more money. Please, please don't pay them anything else. It's a scam. They prey on people who need the money. Try reporting them to the MAS if they claim to be regulated there, or the FCA if they claim UK ties.

Wake up call, mate. That 'VAT on profits' is absolute rubbish. No legitimate broker, especially one operating under FCA regulation in the UK, would ever ask you to pay profit tax directly to them before releasing funds. This is a common scam tactic. They create a fictional hurdle to extract more money. The pressure from the 'account manager' is designed to make you panic and pay without thinking. You've likely lost your initial deposit already, and they want to fleece you for more. Look up the FCA Register and check if FXTradeGlobe is even listed. If not, you know you're dealing with scammers. Report them to Action Fraud.

Alarm bells should be ringing loudly for you. This sounds like a typical advance-fee scam. In Germany, we have BaFin, and they warn constantly about such schemes. Brokers do not collect taxes like VAT on profits; that's the job of the tax authorities, and it's usually declared annually, not paid upfront to the broker. The 'account manager' demanding payment and threatening to lock funds is a classic move. Do not send them a single cent more. Your best bet is to try and report them to the FCA in the UK, as they are the relevant regulator if you are based there.

Oh dear, this is exactly how I was scammed too. They told me I needed to pay a 'clearing fee' before my money would come through. I was in a tough spot financially and felt so stupid paying it. That was €7,000 down the drain. Then they asked for more. It’s a horrible feeling. Please, please don't send them any more money. They are not going to let you withdraw anything. Look up 'advance fee fraud' online and see how many stories are just like yours. You should report them to the AFM if they have any connection to the Netherlands, or the FCA.

That sounds really worrying, I'm so sorry you're going through this! It's completely understandable that you're losing sleep. It doesn't sound like a legitimate request at all. I haven't traded FX, but when I dealt with investment platforms, any fees were always clearly stated upfront, never a surprise demand for taxes on profits before withdrawal. Definitely double-check everything they told you. Maybe search for reviews of FXTradeGlobe on independent sites? Sometimes people share their experiences there. Hope you find a good solution soon!

This is a textbook advance-fee scam, and unfortunately, it's very common in the CFD and forex space, especially with unregulated offshore brokers. FXTradeGlobe sounds precisely like the type of operation that preys on hopeful traders. In Germany, BaFin is very strict, and demands like this would trigger immediate investigations. No regulated entity would operate this way. The 'VAT on profits' is a fabrication designed to extract more funds. Your £15k balance is almost certainly non-existent or unreachable. You need to report this to the Financial Conduct Authority (FCA) in the UK immediately. They are the ones who can investigate and potentially take action, though recovering funds is difficult once paid to scammers.

Oh wow, that's a scary situation to be in. I've heard similar stories from friends who traded forex, and it always ended badly. That 'VAT on profits' sounds like complete nonsense. It’s a common tactic scammers use to get more money out of people. Don't pay them anything! Seriously. Cut your losses now before they take even more. You should report this to the Financial Conduct Authority (FCA) in the UK. They oversee financial services firms, and even if this broker isn't legit, reporting them helps others avoid the same fate. Stay strong!

Stop. Right. Now. That is NOT legitimate. I fell for a similar thing with IronFX offshore a few years back – they called it a 'withholding tax'. Sounded official, right? They demanded thousands before I could get my 'profits' out. I paid it. Guess what? They then wanted more for 'compliance fees'. Total scam. You will NOT get your money out. That balance is fake. That account manager is a crook. Report FXTradeGlobe to the FCA and Action Fraud. Do NOT send them another penny.

I’m a forensic accountant, and this screams 'advance-fee fraud'. The 'VAT on profits' is a fabrication. Real VAT is handled differently and by different entities. If a broker is demanding it upfront for a withdrawal, it’s a scam. They've likely created a fake trading platform interface showing inflated profits. The FCA in the UK is the body you need to report this to. Check their register to see if FXTradeGlobe is authorised – I suspect they won't be. Your £15,000 balance is almost certainly illusory. This is a hard lesson, but sending them more money will just be throwing good money after bad.

This happened to me too! They told me I owed a 'clearing fee' and then a 'tax' before I could get my money. I was so stressed about paying my mortgage. I ended up paying them nearly £4,000. Then they just vanished. My whole account balance, gone. I felt like such an idiot. Please, for the love of God, do not pay them anything more. It’s a scam, they will never let you withdraw. I’m still trying to deal with the aftermath. You can try reporting it to the CFTC if they have any US ties, but honestly, recovery is rare.

Urgh, I remember this feeling. My 'broker' said I needed to pay a 'server fee' for my withdrawal. I was so excited about the profits I'd seen on my screen, I actually sent them another $1000. Big mistake. It was gone. My whole account vanished. It’s a horrible, sick feeling. Please don't send them any more money. It’s all fake. Report them to MAS if they claim Singaporean regulation, or the FCA.

Mate, you've hit the nail on the head. That 'VAT on profits' is pure fiction. It's a common scam tactic used by dodgy brokers to get more cash out of you. I went through something similar a couple of years ago. They kept coming up with new fees – 'withdrawal tax', 'anti-money laundering fee'. It never ended. You will not get your money out. That balance is a mirage. The best thing you can do is report them to the FCA in the UK. They might not get your money back, but it helps them track these criminals.

Don't you dare pay them another penny. I am so, so sorry you’re going through this. This is precisely how they get you. They show you fake profits, build you up, and then hit you with these impossible fees. My sister got caught by a similar platform, and they demanded a 'regulatory compliance fee'. She paid it. They took it, and then ghosted her. Her entire investment gone. Please, please report them to the FCA. They need to be stopped. There's little hope for recovery, but reporting is crucial.

Oh goodness, I'm so sorry to hear this. It sounds absolutely dreadful and I can only imagine the stress. That 'VAT on profits' sounds completely bogus. I haven't traded forex but my friend got scammed with fake crypto investments. They kept asking for more money for fees. Please don't send them any more cash. It's likely a scam. You can report this to the Financial Conduct Authority (FCA) in the UK, they are the regulator and might be able to investigate. Sending you strength!

Non, ce n'est pas du tout légitime. Les courtiers ne demandent jamais de frais de TVA ou d'impôts sur les bénéfices *avant* que vous ne puissiez retirer de l'argent. C'est un signe classique d'arnaque. Ils créent une fausse exigence pour vous faire payer plus. C'est un schéma bien connu. Les autorités françaises, comme l'AMF, ne fonctionnent pas comme ça. Si vous payez, ils demanderont juste plus d'argent pour une autre 'taxe' ou 'frais'. S'il vous plaît, arrêtez tout paiement. Le montant que vous avez 'gagné' est probablement faux de toute façon. Le fait que votre solde soit aussi élevé après seulement 6 mois avec 2k GBP est suspect en soi, surtout avec du trading CFD. Les 'gesteurs de compte' qui poussent sont une autre grande sonnette d'alarme.

Oh mate, reading this brought back bad memories. I was with a firm called FXChoice a while back, and they did something super similar. Said I owed taxes on my 'winnings' before I could cash out. Told me it was a 'compliance fee' to get my funds released. Paid it. Then they wanted another fee for 'currency conversion'. Next thing I know, the website is gone and my calls go straight to voicemail. These people are scum. Don't send them a penny more. If you can, report them to the FCA. They're the UK's financial watchdog. Even if they can't get your money back, it helps build a case against these crooks.

This screams scam. I've heard of this happening to friends and people online. The whole 'VAT on profits' thing is a fabricated charge. Reputable brokers, especially those regulated by bodies like the FCA in the UK or IIROC here in Canada, would never ask for upfront 'taxes' or fees like this to release funds. They handle their own tax reporting usually, and it's between you and HMRC (or CRA for us) later. The pushy 'account manager' is a massive red flag. They want your money, not your success. Stop all communication and do not send them any more money. Seriously, just block them. You can try reporting it to the FCA, but honestly, getting money back from these scams is rare.

Oh no, that sounds awful! I'm so sorry you're going through this. It's completely understandable why you're losing sleep. That 'VAT on profits' fee sounds very suspicious. I've never encountered that with any legitimate trading platform I've used. Hang in there, hopefully someone here has advice. Maybe check if FXTradeGlobe is regulated by the FCA?

This sounds really dodgy. I'm in Edinburgh too and I've never heard of any legitimate UK broker doing this. My mate Gary, who trades forex loads, says it's a classic withdrawal scam. They bait you with big profits then hit you with fake fees. Don't pay it! Report them to the FCA – that's the Financial Conduct Authority. They're the ones who regulate this stuff in the UK. You can find their website easily and submit a complaint. It might not get your money back immediately, but it's the right thing to do.

I'm in the same boat, practically. I had a platform, different name, but they told me I had to pay a 'capital gains tax adjustment fee' before they'd release my 'earnings'. It was like £4000, a lot for me. I paid it, thinking it was just how it worked. Then they came back saying there was a 'transaction processing fee' because I was withdrawing to a different country. I never got a penny back. This sounds exactly like what's happening to you. They just keep inventing fees. I wish I'd never put a cent in. Report them, but don't expect miracles.

Verdammt, this is horrible. Similar situation here, but with a different scam outfit. They promised me the moon, said I had made so much money on 'oil futures'. Then, when I wanted to take out my initial deposit, suddenly there was a 'clearing fee' and a 'compliance charge'. They wanted 10% of my supposed profits. I refused. They locked my account. Then they said my spouse needed to sign an affidavit, which is nonsense. I lost my initial 1000 Euros. Don't pay them anything. These people prey on hope. The German regulator, BaFin, might be worth reporting to, but honestly, these offshore guys are hard to catch.

Hold on. 'VAT on profits' from a *broker*? That doesn't sound right at all. Usually, any tax liability on trading profits is something *you* deal with directly with HMRC, often annually, not paid upfront to the broker as some kind of processing fee. Brokers facilitate trades; they don't collect government taxes on your behalf like this. And the pressure tactics? Definitely a red flag. Ask them to provide the specific UK government legislation or HMRC notice that mandates this specific 'VAT on profits' payment *to them*. They won't be able to, because it doesn't exist. Watch out, they might be setting you up for another fee right after this one.

Oh dear, that sounds incredibly stressful. It's completely natural to feel this way when your money is involved. This kind of situation is so tough. Did you check if FXTradeGlobe is regulated by the FCA? Sometimes looking at the FCA register can tell you if they are a legitimate, authorised firm. If they're not on there, or if their details look off, that's another big sign. Sending you strength to get through this!

I got caught by something like this last year. Lost about £3000. They said it was an 'international transfer tax'. I was desperate, had bills piling up, and I paid it. They then said it needed 'verification' and asked for another £1500. That's when I knew for sure it was a scam. I couldn't afford to lose that much more, so I stopped. Filed a report with Action Fraud, which is the UK's national reporting centre for fraud and cybercrime. They take reports online. It's unlikely I'll see that money again, but maybe it helps them track these guys.

This situation is unfortunately quite common in the crypto and CFD space, especially with less regulated platforms. They inflate your supposed profits to make the scam more believable, then invent fees like this 'VAT' to drain your account. In the UAE, financial regulators like the SCA (Securities and Commodities Authority) are strict, but these offshore platforms often operate outside their reach. My advice: Never pay upfront fees to withdraw. If they were legit, they'd deduct taxes at source if applicable, or you'd declare it yourself. Google 'FXTradeGlobe reviews' and see what other people are saying. You'll likely find many others with the same story. Don't send more money.

This sounds like a classic advance-fee scam. They lure you in with the promise of high returns, and once you have a significant (fake) balance, they invent a reason why you can't withdraw it without paying more money. 'VAT on profits' is just a made-up charge. In the Netherlands, the AFM (Autoriteit Financiële Markten) regulates financial services, and they warn about such schemes. Legitimate brokers don't operate like this. If they were regulated by, say, the AFM or the CFTC in the US, they'd have strict rules about client funds and withdrawals. The best advice is to cut your losses now. Don't send them another euro. You can try reporting them to the FCA in the UK, but it's a long shot to recover funds from these operations.

This is a huge red flag. I saw a similar scam targeting people in the GCC region last year. A platform, similar to what you're describing, promised massive crypto gains. When people tried to withdraw, they were told they owed 'anti-money laundering fees' or 'government processing taxes.' It's a way for them to steal your money. They often use spoofed regulatory logos or mention fake government bodies. Always verify the broker's regulation independently on the official website of the relevant financial authority. For the UAE, check the SCA or the Central Bank. Do NOT pay this fee. Your 'profits' are almost certainly not real, and paying this will only lead to demands for more money.