My 'broker' EuroFX is demanding a 'regulatory compliance bond' to release my profits. Scam?
Hi everyone, I really need some advice here. I started trading forex with a company called EuroFX a few months ago after seeing an ad on social media. Everything seemed fine, i mean, i was making some pretty decent profits based on what my 'account manager' told me. I wasn't really trying to withdraw at first, just watching my 'balance' grow. But now, I tried to pull out about $3,000, and they're saying I need to pay a 'regulatory compliance bond' of 15% of my total account balance before they can process the withdrawal. They're telling me it's standard procedure for international transfers and that it's fully refundable once the withdrawal clears. It feels really off, you know? They just keep saying it's for 'my own protection'. I'm based in Durban, South Africa, and I've already put in a fair bit of money. Has anyone dealt with this kind of thing before? Is this a normal part of online trading, or am I getting scammed?
asked by Sipho Ndlovu· 29d ago