Broker scam (negative balance)

Hello guys
First some details. I have been trading for some time using IG broker (and meta trader 4). I have made some nice profits and one day i came up with the idea of trying another broker, but this time probably a scammer one (broker: Portal Realm Limited / platform: meta trader 5)

So, I sent 2k to this new broker (i wanted to see if at some point i could withdraw money). The thing is, now I have a negative balance of -4k (bad trading decision from my side)
I could send them the money right now but if they are scammers, should i send it to them?

I just received from their “customer service” a Wechat message (chinese app) saying:

“Your account owes 4k, please pay it back in time”

“With regard to the notice of arrears , if the arrears are not paid within a week, the company will sue in laws and regulations and hope that the customers will pay off the arrears as soon as possible in order to create unnecesary trouble. Thank you for your cooperation”

The big question: Should i send them money? Can i be sued by a scammer broker if i don’t pay my negative balance?

Why do you think the broker is a scammer?

1 Like

there are a couple of reasons:

  • Their website
  • They just asked for an ID in order to register (no other documents/contract/etc)
  • The person who ask me to join this broker was a chinese girl from “tantan”. She is also giving me the signals and she is asking me always to deposit more money
  • I just sent 2k and at some point I had 15k. Then i asked for a withdrawal and the customer service (wechat account in chinese) told me it was only possible to withdraw all the money at once (not in parts)
  • The bank account where you have to transfer the money is in Hungary and it has a quite funny name “Blessed Europe”

Yep, that all sounds pretty bad.

Even assuming your losses are real, from trading, I would be amazed if they take legal action.

Yeah i know, I would also be amazed if they take legal action.

Thats why i am not sure whether I should send them money in order to cover my negative balance or not