You may be asked to pay a very high fee or be required to execute a certain number of trades or transactions before you are allowed to withdraw money. Again, this must be stated ahead of time in writing if the forex broker is to be considered legitimate.
When researching a broker before signing on, avoid such clauses and high fees and do some research to discover the industry standard. Usually, licensed brokers do not charge withdrawal fees, or if they do, very low fees which are stated on the site or in the terms of conditions.
In some cases, a broker will ghost the client or disappear entirely. The broker may stop answering emails or texts. On the rare occasions they can be contacted, they will claim they did not get the previous emails because the client must have whitelisted their address or some other reason. If some time has passed and lack of communication cannot be ascribed to a legitimate reason, get into contact with Broker Complaint Registry.
Finally, the broker may suddenly disappear. You may not be able to access their site or have any communication with them. They may have blocked your IP address or shut down entirely and made off with all of their clients’ funds. In this case, reporting and getting assistance is vital.
To avoid falling prey to a forex withdrawal scam, the best action you can take is to ensure you are working with a regulated broker and to research the service and the website thoroughly. Even if a broker is not fraudulent, problems can arise, and it is important to have a regulator who oversees the broker. This way, if you have a problem with the broker, there is an organization to complain to that will help resolve the problem or take action against the broker, if needed.