He won’t approve my withdrawal request. The site is fmimarkets dot com. What are my options, if any?
Have they given a reason why they will not release your withdrawal?
No, probably because it was a carefully planned event. And all inquires about the withdrawal request are being ignored.
The most common reason for either refusal to release funds or delay is that the broker is trying to verify that you are who you say you are and that the funds deposited are really yours. They face very stiff penalties for being an accessory in money-laundering so this can slow down withdrawals or freeze them. But the broker does not have the right to confiscate your money and simply add it to their own bank account.
Have you done anything to make them unsure of your identity -
have you changed bank account or credit card that the deposit came from?
are you trying to withdraw funds to a different bank acount or credit card?
does anyone else have access to your trading account?
Or are you trying to withdraw of your funds which are committed as margin to open positions?
Or withdraw capital that is an unrealised loss?
Are you trying to withdraw 100% of your original deposit after you have actually suffered losses in trading?
I suspect some brokers are more relaxed about taking your money when you make a deposit than they are about giving it back. Are you sure you have already proved that the money originally deposited was yours and that you got it legally? Can you prove it again now?
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That is alarming, certainly.
But @tommor is asking all the important and relevant questions, just above. The answers to those questions usually (not always) throw the necessary light on these situations.
Also: by which regulator is your account regulated?
"The most common reason for either refusal to release funds or delay is that the broker is trying to verify that you are who you say you are and that the funds deposited are really yours. "
Even if this is the cause of his IMO theft, the fact that he didn’t respond to my inquiries fully contradicts your overall barrage of questions and theories because, even if any of this is a factor, he should still reveal that as a rationale or something to me.
“Or are you trying to withdraw of your funds which are committed as margin to open positions?” No, and had though thought for a moment before posting your comment, you’d realize this is the answer. Why? Because, it makes zero sense to make or even try to make money in an account that you know you cannot withdraw any money from because the broker stole it and isn’t going to ever let you have your money.
“Or withdraw capital that is an unrealised loss?” No. I’m not insane complaining about not being able to get money I lost. Goodness.
“Can you prove it again now?”
I am not sure what planet you are on dude. I’ve never been asked to prove anything by the broker, so why would I try to prove it to him if it’s not the issue? Your comment is like, “Did you ever prove to the police officer who shot you in the head without explanation that you were not a bank robber?” ??!?!
Good luck.
I don’t know. I gave out his name and website. How can I find out who was regulating him?
In my first reply to tommor, I implied that I thought the whole thing was planned in advance. Here’s an email that helps explain why I feel this way. (In the email, the broker is offering $20,000 per person to anyone who deposits $40,000 more into their trading account. It’s a classic, “you won a ton of money now, but you will need to me an advance to the mail carrier to get the check delivered” kind of scam.) If you are going to take all of the money and run, it’s a nice bonus check. If you are a legit broker making a few cents on narrow spreads, it’s odd. The rationale, before Christmas to give back, seems very reasonable, but it’s also a bit insane if you think about it.
Dear FMI Users,
Important Announcement!
FMI Brokerage has reached a significant milestone in its global business development—celebrating the 10th anniversary of FMI’s global operations and successfully surpassing a daily trading volume of $10 billion! This achievement would not have been possible without the support and trust of each of our valued users. We are honored and sincerely grateful for your continuous partnership.
In celebration of this remarkable achievement and to welcome the upcoming Christmas season, FMI is launching a $2 million bonus pool to reward both new and existing users! All users who participate in deposits will receive corresponding bonuses, and the promotion will end once the $2 million bonus pool is fully distributed.
Promotion Rules:
- Starting today, users who deposit $1,000 or more into their account will receive an additional 50% bonus on their deposit. For example, a deposit of $1,000 will earn a $500 bonus, for a total of $1,500 in the account; a deposit of $10,000 will earn a $5,000 bonus, for a total of $15,000 in the account, and so on.
- Each user can receive a maximum bonus of $20,000.
- Any attempt to exploit the promotion through improper means is strictly prohibited. Users found violating this rule will forfeit their bonus eligibility.
- The promotion officially starts on December 12, 2024.
- The final interpretation of this promotion belongs to the FMI team.
We greatly appreciate your continued support and trust in FMI. We look forward to a brighter future together.
FMI Team
December 12, 2024
Really?! How can it actually be a broker, then?
Have you checked that it is actually a brokerage?
What is their website URL?
What is their physical address?
Who owns the company?
Their email sounds to me a bit like the “Nigerian prince” scam.
I’m honestly trying not to sound unsympathetic, here, if you’ve lost money, but did you not check all these things at all, before sending them money?! 
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“What is their website URL?”
Have you tried reading the first post? Are you aware that new users of this website are banned from posting urls?
I do not know the answers to the other questions, but generally speaking you do the KYC stuff only when setting up the account. Once the account is approved, you move over to trading, etc. No, I didn’t ask the broker what their real house address was, how many girlfriends he has, etc., because the broker wasn’t chosen by me at all and I had no options, which is probably another angle to of the scam.
DNS tools says godaddy was the last registrant. I have asked them what they need to reveal the true site owner data, but they were vague about it and there’s no method of getting an answer unless you are their customer. But, perhaps another idea is to look within his (the broker’s) MT5 product? It’s dated 2019 though (MetaTrader 5 Platform Build 2280 to be specific.)
No, I didn’t know that. I’m pretty new here, myself. Sorry! You’re quite right. I had seen your first post, but by the time I posted my second reply, had forgotten it.
The website looks like a complete fraud and scam, to me. There’s absolutely no real information about them at all. Something seriously wrong, there.
Wow …
Ok.
Good luck.
Ok.
Good luck.
i suppose you didn’t send them money using a credit-card from which you can do a chargeback?
The comments on “review sites”, if you google “FMImarkets review” are frightening. Sorry for you, and I hope it wasn’t a horribly expensive lesson.
Well, Google stopped being honest years ago, so you are seeing (and conflating) 45 reviews of Fmxmarkets dot com on sitejabber, the three of which have no relationship I can see. The other sites are based on a single review, the entire content of which is
Red alert: fmimarkets[removed by editor] Scam!
Successor of pioneerfinanceltd[removed by editor] Scam!
Review date 2024-11-20 16:32:01"
or they are based on things like website age, “deals with forex” (duh, yes, that’s a point of a forex trading broker), etc. Rather indirect and unclear. I wasn’t able to find anything about pioneerfinanceltd. Anyways, I didn’t do a scam search before sending in the funds, and that review was posted AFTER I was already trading with FMI, so it’s a moot point.
Besides, the more popular a broker is, sort of the worse it is, generally speaking, has been my experience. It sort of makes sense because if you have the #1 brand you can charge the widest spreads. Onada is a good example of that. So is coinbase (by default it charges about 1% on crypto purchases and their customer support is highly comical).
I am used to the attack the victim mentality–our society is based on bullying–but please ease up a bit.
“i suppose you didn’t send them money using a credit-card from which you can do a chargeback?”
My earlier reply isn’t visible, although I see no mod complaint explaining the apparent censorship [edit: I now have an email saying my reply was censored, though there’s no reason supplied], so I’ll repeat what I already had written. No legit broker would let you fund via credit cards that I know of because it suggests the trader isn’t using existing “at risk” funds. But, no, I didn’t fund via a credit card.
“The comments on “review sites”, if you google “FMImarkets review” are frightening.”
Again, google lies, and is conflating FMImarkets with another site, one of which has 25 reviews on sitejabber. The only other sites that showed up were based on envelope stuff like that it deals with forex or crypto, so it got flagged for that, with one exception that can be traced back to a single negative review which was uploaded after I already was trading with FMI.
I am used to the apparent desire to attack victims, for we do seem to live in a bullying-based society, but please ease up a bit.
You’re very mistaken there, Jason. Many well regulated brokers welcome credit-card deposits.
I certainly haven’t attacked you and I haven’t myself seen anyone else attack you, but I’m guessing from your comments above that things have been deleted from the thread since I saw it earlier today?
To be honest, I don’t quite understand what happened, or how someone can send money to a broker that was “not their choice”, and without having any option about it.
Anyway I’m sorry to hear your tale and I wish you good luck, as we all keep saying.
Thank you for posting it here to warn others.
Just sorry I can’t help or suggest anything, if there’s no real regulator to protect customers. 
No, you have, albeit indirectly, attacked me, IMO. Let me help you know why. By your own admission, the site used is a complete fraud and scam with something seriously wrong. The first attempt to help me wasn’t at all. It was tommor’s inquisition about how perhaps the problem is of my own doing. That is, e.g., that I don’t deserve to have my own money since I failed to, e.g., " proved that the money originally deposited was [mine] and that [I] got it legally". Importantly, 0% of his comments’ commands for me and requests for me were in any way possibly to help me recover my money or even warn others. No. Rather, they were to help reveal the allegedly victim, me, might be faking it, and might really be to blame. This, despite me, per your logic, clearly being a victim to a scam. And what did you do? (Yes, that’s you Schmaltz.) Oh, that’s right. You backed him to the hilt. Saying, “@tommor is asking all the important and relevant questions”. Uh no. If you are right he should have instantly shifted to actually trying help me instead of the broker. None of his questions were useful to me, and I’d be the one to say, I would think, since it is me who’s out a big chuck of change.
Have you tried reaching them again? Have you shared your concern directly with them?
“Have you tried reaching them again?” Yes. Multiple time. Via the official channel and emails. No replies at all.
“Have you shared your concern directly with them?”
My concern? That he give me my funds? Yes.
Sorry to hear.
The term “limited” suggests a non US entity
What Does Ltd. (Limited) Mean After a Business Name?
I see their site references ‘regulated’ but no mention where or who.
Their name does not appear on the UK FCA register - try the Irish & Canadian register - they mention dollars so maybe Canada.
That’s the only help i can suggest - best of luck.
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Honestly, it’s kind of the opposite.
For future reference, Jason, every decent broker naturally wants and needs to be able to take credit-card deposits as that’s how so many of their customers want to deposit, for exactly the obvious reason referred to above.
If a broker can’t accept deposits that way, the only reason for that is that Visa and MasterCard (who carefully investigate businesses’ financial probity, naturally) won’t do business with them.
And if they won’t do business with them, why would we want to? 
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