My 'broker' is asking for a 'profit conversion fee' for crypto profits. Legit or scam?
Hey everyone, I'm feeling so sick to my stomach about this. I've been trading crypto on a platform I found through an online ad, let's just call them 'GlobalTradeFX' (not a real name, just for privacy). I deposited some funds via bank transfer, and then more via crypto, and their 'analyst' helped me trade. My account balance shows a significant profit, which is great, or so I thought.
Now, when I tried to withdraw, they're saying I need to pay a 'profit conversion fee' to convert my crypto profits into fiat before they can release it to my bank account. They're asking for about 15% of the profit. This sounds really dodgy to me. I've never heard of such a fee. Is this a common thing in crypto trading? Or am i being scammed? I'm in Singapore, and I'm really worried. I've put a lot of my savings into this. Any advice on what to do?
asked by Jia Teo· 22d ago
