Broker scammers

Hi

I need some advice please
I have traded bitcoin of metatrader4 through a broker called marketpluse+

I have closed my position and wanted to withdraw my funds but they are now saying I have to pay tax’s and commission before they release my funds.

Does this sound legit ?

That’s doesn’t sound legit. Paying taxes on your realized gain is your responsibility once withdrawn, not while it sits in their accounts. What they’re asking basically sounds like a sales tax. As for the commission, that should normally be already built in and covered by the trade. Sounds like they don’t want to give you any money, and after a quick search of their reviews most people say they’re a scam.

I don’t have to do that on the BTC based brokers I use. Ony the BTC network fee which is standard anywhere.

Be aware of any offshore broker and check if those brokers hold any valid regulation that can cause any trouble to them if a complaint is announced.

Also, any broker that offers bonus or high-level performance in trading materials can be a trick by scammers to lure in traders.

Not only is the broker not regulated it started its operation w.e.f. July 16th, 2020. Also, the reviews online aren’t painting a picture in favor of him.

I know many forex brokers are scams. but, they are now very sophisticated and cunning. Often new brokers that appeared 2 years ago are mostly scams :shushing_face:

How do we save ourselves from such scammers? What do you suggest should we traders look for in order to make a safe choice?

Sorry, I’ve been busy these days. Yes if you are experienced and knowledgeable. they mostly disguised themselves as fake licenses. I want to give you the link but it seems the rules are not allowed here. sorry

1 Like

I suggest being aware of any offshore broker with no regulation and always read reviews on them before investing because they are mostly scammers, so it better to be aware of the broker you are about to start trading.

No, that sounds fishy to me. I understand commission but the commission is also charged when the position is opened (atleast with COINEXX, the broker i use) but haven’t heard of any taxes being paid by our end. You should enquire about this.

Check if they are regulated or you can even read reviews/experiences of traders before settling for any.

Check out reviews on trust pilot, forex peace army.

I don’t think that should be the case if you have not withdrawn any money from your account. Seems to be a scam.

forexpeacearmy are scammers !

Sounds fishy, that’s a scam for sure. Could not even find anything positive about them on the net.

I advise you to contact a lawyer

True man, i searched too, not looking good so far.

How can you be so sure?

I am fed up with explaining - just check all the threads on Babypips !
Do a bit of research.
Scam reviews etc etc etc !!!

Johnny any bad experience with them?