Deposited with a shady CFD broker, now they're asking for 'liquidation fees' to withdraw profits?

asked 32d ago17 views0 answers
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Okay, so I got into CFD trading a few months back. Met this 'account manager' on Telegram, seemed legitimate enough at first. He kept pushing this broker called PrimeEquityTrade (not regulated anywhere I could find, rookie mistake, I know). Everything was great, my account 'grew' like crazy, showing insane profits. I put in about $8k USD over a couple of months. Now, I tried to withdraw a small portion, like $1k, just to see. And boom, they hit me with a 'liquidation fee' of 15% of my total account balance. They said it's 'standard procedure' for closing profitable positions and accessing funds.

I really need this money back. It's my savings. Is this a common scam tactic? Has anyone faced this before with PrimeEquityTrade or similar platforms? What can I do? I'm in Singapore, if that matters. My bank is DBS.

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