allanos Posted April 1, 2022 Share Posted April 1, 2022 The OP states that his forex broker is "listed" on the MT5 platform, which is quite incorrect. The broker has simply purchased the rights to use the MT5 platform to allow his clients to trade. MT5 is not endorsing the broker in any way, which is a totally different thing. It is clear that the OP did not perform any due diligence before involving himself with this particular broker. The important warning, "caveat emptor", applies in all such dealings. Nevertheless, it occurs to me that rather than being a scam, the broker may have certain parameters in place which do not allow a swift withdrawal of trading funds; there may be a delay in place. Such parameters may be detailed in the fine print of the contract the OP entered into at the outset. It may be worthwhile taking a closer look at the agreement. Something else: how was the account originally funded? If by a credit/debit card, then it is possible any loss by way of a "scam" may be clawed back from the card issuer. It may be worth a look. Link to comment Share on other sites More sharing options...
allanos Posted April 1, 2022 Share Posted April 1, 2022 (edited) Posted twice Edited April 1, 2022 by allanos Link to comment Share on other sites More sharing options...
bondjames007 Posted April 2, 2022 Author Share Posted April 2, 2022 20 hours ago, allanos said: The OP states that his forex broker is "listed" on the MT5 platform, which is quite incorrect. The broker has simply purchased the rights to use the MT5 platform to allow his clients to trade. MT5 is not endorsing the broker in any way, which is a totally different thing. It is clear that the OP did not perform any due diligence before involving himself with this particular broker. The important warning, "caveat emptor", applies in all such dealings. Nevertheless, it occurs to me that rather than being a scam, the broker may have certain parameters in place which do not allow a swift withdrawal of trading funds; there may be a delay in place. Such parameters may be detailed in the fine print of the contract the OP entered into at the outset. It may be worthwhile taking a closer look at the agreement. Something else: how was the account originally funded? If by a credit/debit card, then it is possible any loss by way of a "scam" may be clawed back from the card issuer. It may be worth a look. The info I get from the broker is that I get 1% bonus on my balance every day for 3 months (which is too good to be true) therefore cannot make any withdrawals until the 3 months is up. I have a feeling once 3 months is up, my account will be closed, and will be too late to get my funds returned, as I can't believe they giving me a 1% daily interest every day on my total balance. I paid the deposits directly into Thai Bank Accounts Link to comment Share on other sites More sharing options...
charliebadenhop Posted April 2, 2022 Share Posted April 2, 2022 How can anyone promise you a future return on your money? What led you to believe this is possible? Link to comment Share on other sites More sharing options...
scubascuba3 Posted April 2, 2022 Share Posted April 2, 2022 (edited) 20 minutes ago, davemax49 said: The info I get from the broker is that I get 1% bonus on my balance every day for 3 months (which is too good to be true) therefore cannot make any withdrawals until the 3 months is up. I have a feeling once 3 months is up, my account will be closed, and will be too late to get my funds returned, as I can't believe they giving me a 1% daily interest every day on my total balance. I paid the deposits directly into Thai Bank Accounts 1% is most likely annualised, so 3 months approx 3\12 * 1% = 0.25% only. Maybe copy paste the exact wording Edited April 2, 2022 by scubascuba3 1 Link to comment Share on other sites More sharing options...
bondjames007 Posted April 2, 2022 Author Share Posted April 2, 2022 17 minutes ago, scubascuba3 said: 1% is most likely annualised, so 3 months approx 3\12 * 1% = 0.25% only. Maybe copy paste the exact wording My balance yesterday on MT5 was 10,531 USD Deposit 105.31 USD deposited today = 1% daily interest I only made a few trades, and principles was 4,000 Just too good to be true Link to comment Share on other sites More sharing options...
scubascuba3 Posted April 2, 2022 Share Posted April 2, 2022 24 minutes ago, davemax49 said: My balance yesterday on MT5 was 10,531 USD Deposit 105.31 USD deposited today = 1% daily interest I only made a few trades, and principles was 4,000 Just too good to be true Yes hallmark of a scam, high return to discourage withdrawals. They are just numbers, not real it seems 1 Link to comment Share on other sites More sharing options...
charliebadenhop Posted April 2, 2022 Share Posted April 2, 2022 Hi Dave, Sorry, but I cannot make any sense out of what you wrote. And showing what you did, this has nothing to do with trading forex. If you have someone trading forex for you you should be able to see the account activity in your "back office". And no matter what, you should be able to withdraw your money on any week day. Link to comment Share on other sites More sharing options...
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