My unregulated forex broker froze my account, saying I need 'profit tax' to withdraw. What's next?
Hi everyone, I'm feeling sick to my stomach. I started trading forex with an online broker called EuroFX a few months ago. Everything seemed fine, even made some decent profits – nothing wild, maybe about 8k USD equivalent. When I tried to withdraw a portion of it last week, they approved the request initially, then a couple of days later I got an email saying my account was 'under review' due to 'large profits'. Now they're telling me I need to pay a 'profit tax' directly to them, equal to 15% of my total profit, before they can release any funds. My account is totally frozen, can't even see my balance anymore. I'm in Bloemfontein, and I put in most of my savings. Has anyone dealt with EuroFX or a similar situation? Is this 'profit tax' even a real thing? I'm so worried I've lost everything.
asked by Lucas Mokoena· 25d ago