My 'broker' EuroFX wants a 'negative balance protection fee' to withdraw profits. Legit or scam?
Hey everyone, I'm really freaking out here. I've been trading forex with a platform called EuroFX for a few months now. Started small, around 2k euros, and somehow, I don't even know how, my account balance shows like 18k. I tried to withdraw a big chunk of it, like 5k, because I need the money to pay for some dental work my kid needs. But when I put in the withdrawal request, they came back saying I need to pay a 'negative balance protection fee' of about 1500 euros first. They're saying it's a standard regulatory thing to protect me if trades go bad or something. I'm in Berlin, and it just sounded weird. I've never seen this with my old stock broker. Is this something new in forex, or am I getting played? I'm so scared I'll lose everything. What should I do?
asked by Anna Schafer· 17d ago