My unregulated broker (IronFX offshore) is demanding a 'margin call fee' to release profits. Scam or legit?
Okay, so I'm in a bit of a panic here. I've been trading with an offshore broker called IronFX (or at least that's what their website says, it's ironfx.capital, not the real one, I know now). I put in about £8k over a few months, and honestly, things looked good on their platform, showing I'd made a decent profit, like £15k. I tried to withdraw some of it, maybe £5k, and now they're saying I need to pay a 'margin call fee' of £3k before they'll process any withdrawal. They're saying it's to 'cover potential market volatility' and 'protect my positions' even though I'm trying to close them. My 'account manager' is being super pushy, saying I'll lose everything if I don't pay. This feels wrong. I'm based in Belfast. Has anyone dealt with this particular broker or this type of fee before? Is this just another tactic to get more money out of me?
asked by Jack Quinn· 15d ago
