My unregulated broker, EuroFX, is refusing withdrawals after I made a profit. What can I do?
I started trading forex with EuroFX last year, and everything seemed fine at first. I put in a small amount, then a bit more, and actually started seeing some decent returns. A couple of weeks ago, I tried to withdraw a significant portion of my profits, and my request just got stuck in 'pending' limbo. Now, they've stopped responding to my emails altogether. I'm based in Singapore, and I know now that EuroFX isn't regulated by MAS here, which was a huge mistake on my part. I feel so stupid for not checking properly. Is there any recourse for me, or is my money gone forever? I've heard about chargebacks but not sure how that works with wire transfers.
asked by Aaron Teo· 2d ago