Withdrawal Fees with forex platforms

Is it normal to be told by your forex platform that the processing fee has to be paid from your personal bitcoin wallet and can’t be deducted from your balance.

Currently I have $11,300 in my account. And made a withdrawal for 10k. I was told there’s a 5% processing fee. Then i was told to send $500 from my bitcoin wallet to proceed.

I told them to deduct it from my balance but they won’t.

Is this normal ?

Its unusual. Check what the Terms & Conditions on your documentation and on their website say. If it isn’t specifically mentioned or if its too hard to find refuse to pay it: stop trading with them and close all trades: do not deposit any more funds: advise them you intend to contact their regulator and a lawyer and you may decide to close your account.

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It is not normal at all. They are scam syndicate. Don’t bother withdrawing that money, it is gone. You will also lose that 5% if you send it to them. This is how they operate now. Stay away from Forex platforms that promises unrealistic high returns.

Sounds like a scam. Have they given you any explanation as to why there must exist such a policy?

By no means this is normal. Your best chance right now is to finish off all transactions with this broker and then transfer your funds to a more reliable broker such as Fxview or IBKR. I have been using them for a while now and regards to withdrawals at least, never faced much problems.

It’s not normal. Normally if there is a transaction fees, it will be deduct from you withdrawal amount and the balance will be transfer into the account you assign to. Please be aware if the broker ask to pay for the processing fees its weird.

High inactivity fees of IBKR will eat up your money. Choose someone with no to slight charges.

Never heard of this before. It definitely sounds like a scam, but still, you should give them benefit of doubt and ask them for their terms and conditions. If it a trusted broker, then I am sure you will get your money back. But again, trusted brokers do not have such conditions. And if in the end, it feels like a scam, tell them you will expose them on social media. All the best and keep us updated.

Fxview fits here. I believe their prices are too low and that too after a very long interval of inactivity.

Any follow up on that Amsterdam? How much were you able to withdraw?

Who is this with? Sounds dodgy and not something any broker I have used asks for.

    It is not at all normal.The fees should be dedeucted from the balance and you should not be said to transfer the fees from the wallet. You should try getting in contact with their customer support or email them.

Any update on this Amsterdam? I think a lot of us would like to know what finally happened. Were you able to withdraw your funds?

No It was a scam

Sorry to hear that brother. I can imagine how you feel. Hope you recover from it soon. I will also suggest that you let others know about this broker so that no other person falls in their trap.

It is not at all normal. It looks like a scam. Try reaching their support system and talk about it

Who is the broker?

I bet their support team will be a bunch of crooks selling stories to gullible traders.

Yeah, they’ll do anything but support.

It is unfortunate no doubt, it’s always wise to use a regulated broker for trading. Everyone should check the history of a broker before signing up with one.

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