#compliance-fee
3 questions tagged with #compliance-fee
My forex broker is demanding an 'international compliance audit fee' to process my withdrawal, is this legit?
Hi everyone, I'm really worried. I've been trading forex with this broker, let's call them Global Markets (they're not regulated by ASIC or anything, I know, my bad). I've managed to make some decent profits, about 7-8k USD after a few months. When I tried to withdraw, they suddenly froze my account and told me I needed to pay an 'International Compliance Audit Fee' of 15% of my balance to 'verify my funds origin' before they can process *any* withdrawals. They say it's for anti-money laundering and to comply with international regulations. I put in a significant chunk of my savings, honestly. I'm in Joburg, and things are tight. My gut is screaming scam but they keep sending me official-looking documents. Has anyone else encountered this specific fee? I'm so scared I've lost everything. What should I do?
My 'broker' EuroFX is demanding a 'regulatory compliance fee' to release my withdrawal. Scam?
Okay, so I got into this online trading thing a few months back, through a referral from someone I met on a social media group – they seemed legit, always posting about their 'wins'. I started with EuroFX, invested a few thousand, and things looked good, my account balance grew pretty fast. I thought I was really smart, lol. Anyway, I tried to withdraw some of the profits last week, just to test the waters, right? And now they're saying I need to pay a 'regulatory compliance fee' before they can process the withdrawal. They sent me some official-looking document, but it just looks like a PDF someone made up. It's about 8% of my total account balance. I'm based in Pretoria, South Africa, and I'm really starting to panic. Is this a new scam? Or is this actually a thing with brokers sometimes? I'm so scared I've lost everything.
My 'broker' is demanding a 'compliance audit fee' before I can withdraw profits. Is this legit or a scam?
Hey everyone, I'm really freaking out here. I've been trading forex with this company I found online, let's just call them 'GlobalTradeFX' (not a real name, obviously, but you get the drift). Everything seemed fine, I put in about 5k USD initially, and they had me depositing through crypto. My account apparently grew quite a bit, like, into low five figures, according to their platform dashboard. When I tried to withdraw some of it last week, they said I needed to pay a 'compliance audit fee' first. They're saying it's standard procedure for large withdrawals to ensure everything's legit and to cover regulatory checks. It's about 10% of my supposed profits. I've never heard of this before. Is this some new thing or am I getting scammed big time? I'm in Toronto, Canada, if that matters for regulations. Any advice would be super helpful.