My 'broker' FXChoice is demanding a 'fund velocity fee' to release my profits. Is this legit?
Ok so I've been trading with FXChoice for a few months now, thinking I was making some decent progress. They were really helpful at the start, my account manager was always available, always pushing me to put in a bit more, saying 'the market's hot'. I put in about 8k USD initially, then another 5k. My account balance shows a good profit, like double what I put in. I tried to withdraw a portion last week, just to test the waters, you know? And now they're saying I need to pay a 'fund velocity fee' because my money has been moving through the system too quickly or something. It sounds completely mad to me. They want like 15% of my balance! I've never heard of such a thing. Is this a common thing with forex brokers, or am i being scammed? I'm in Singapore, and I'm really worried now about getting my money out. What should i do?
asked by Jonathan Koh· 0d ago
