My unregulated 'broker' is asking for a 'proof of funds' deposit to process my withdrawal. Is this a new scam tactic?
Hey everyone, feeling really anxious about this. I've been trading with this broker I found online, let's call them 'GlobalTrade Markets' (not in the pool, just an example). I put in about $3k a few months back, and somehow my account balance shows like $12k now. I tried to withdraw $5k, just to test the waters, and they came back saying I need to deposit an *additional* $1,500 as 'proof of funds' to show I'm financially stable enough to receive such a large withdrawal. They said it's a 'new regulatory requirement' for international transfers. My gut is screaming scam, but the account balance looks so real, and I really could use that money. Has anyone heard of this 'proof of funds' deposit? Is this a legit thing or just another way to get more money out of me before they disappear? I'm in Singapore, if that matters.
asked by Ming Lau· 30d ago