withdrawal in case the broker disappeared

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Hello All,

I have an account on MT5 and I deposit money throught a broker called <broker name removed> (I trasfered the money to the broker and he was transfering to MT5), the broker disappered 3 weeks ago but the money are still on my account.

I mean is for sure a fraud but I don´t understand why the money are still on my real account on MT5.

Someone has some suggestion ? there is a way to take the money from Mt5 without my broker ?


thanks a lot
 
ivan____:

Hello All,

I have an account on MT5 and I deposit money throught a broker called <broker name removed> (I trasfered the money to the broker and he was transfering to MT5), the broker disappered 3 weeks ago but the money are still on my account.

I mean is for sure a fraud but I don´t understand why the money are still on my real account on MT5.

Someone has some suggestion ? there is a way to take the money from Mt5 without my broker ?


thanks a lot

No, the only way to get your money is through your broker, find a lawyer to help you.

You should make a better search, when you are about to invest your money, read some reviews, recommendations etc.

 
ivan____: I don´t understand why the money are still on my real account on MT5.
MT5 is a program, software; it isn't a bank; there is no money there. The money is in your broker's account. You can only get it from your broker.
 

thanks for the answer, I´m agree with you but I´m still making trading with my account.

The Broker didn´t close or withdrawal the money from the MT5 account, and this sound a bit strange for me becouse I was increasing my money of 300% so pratically they are still on my MT5 otherwise I couldn´t play anymore.

I know that is not a bank but we are playing with real money, it means that my broker should tranfer this money on MT5 somehow.

I mean if it was a real fraud he would have taken all the money from the platform and then disappear right ?

What´s your opinion about the situation ?

 
ivan____:

thanks for the answer, I´m agree with you but I´m still making trading with my account.

The Broker didn´t close or withdrawal the money from the MT5 account, and this sound a bit strange for me becouse I was increasing my money of 300% so pratically they are still on my MT5 otherwise I couldn´t play anymore.

I know that is not a bank but we are playing with real money, it means that my broker should tranfer this money on MT5 somehow.

I mean if it was a real fraud he would have taken all the money from the platform and then disappear right ?

What´s your opinion about the situation ?

Then what your statement "the broker disappeared 3 weeks ago" means?

Have you tried to withdraw your money though the members area of your broker?

MT5 is the platform for trading with the money available in your trading account, not the banking institution for keeping your money, MT5 is the software, don't confuse these things.

MT5 terminal is the tool for trading, your broker is the company that gives you the opportunity to trade with the money deposited in your trading account.

 
ivan____ :

thanks for the answer, I´m agree with you but I´m still making trading with my account.

The Broker didn´t close or withdrawal the money from the MT5 account, and this sound a bit strange for me becouse I was increasing my money of 300% so pratically they are still on my MT5 otherwise I couldn´t play anymore.

I know that is not a bank but we are playing with real money, it means that my broker should tranfer this money on MT5 somehow.

I mean if it was a real fraud he would have taken all the money from the platform and then disappear right ?

What´s your opinion about the situation ?

I understand that you could not do withdrawal from broker's website.

You will report the broker, from which institution they have a license. Like FCA, ASIC ..

 

If I understood well, as MT5 is not a bank it means in case I play with the money on my account and I will lost all of the money plus my account will have a big minus MT5 can´t ask me money ?

Is that correct ?

 
Ahmet Metin Yilmaz:

I understand that you could not do withdrawal from broker's website.

You will report the broker, from which institution they have a license. Like FCA, ASIC ..

  1. We will not do anything. We can not do anything. We are users here of this website, just like you. We have nothing to do with your broker.
  2. Metaquotes will not do anything. Metaquotes can not do anything. Metaquotes has nothing to do with your broker (other than leasing their code.)
  3. Only you can.
 
ivan____:

If I understood well, as MT5 is not a bank it means in case I play with the money on my account and I will lost all of the money plus my account will have a big minus MT5 can´t ask me money ?

Is that correct ?

Everything that concerns money is between you and your broker, MT5 or Metaquotes have nothing to do with your money and anybody's money, they just provide the software/terminal for trading.

 
Dear.i also in same situation.as on today my funds are in MT5 trading account which i cont withdrawl.scammers cought on us by creating user id and passwords from their side,and we deposit money to app by other source,and they can withdrawl easily behalf of us.itd purely big scam.we realised this when we withdrawl our funds.i don't know whome to approach.but can make loss purposefully in account by wrong trades,so that scammer didn't get funds....but it's not use for me.
 
ramanajkv Ramana #:
Dear.i also in same situation.as on today my funds are in MT5 trading account which i cont withdrawl.scammers cought on us by creating user id and passwords from their side,and we deposit money to app by other source,and they can withdrawl easily behalf of us.itd purely big scam.we realised this when we withdrawl our funds.i don't know whome to approach.but can make loss purposefully in account by wrong trades,so that scammer didn't get funds....but it's not use for me.

This forum (and Metatrader application) has nothing to do with any brokers, any trading accounts and any money for trading.
We are discussing Metatrader as the software program here. And the discussions about the brokers are prohibited on the forum.

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What to do?

  • You can contact the regulating authority of your broker (and/or governmental regulating authority in your country) and find a lawyer. Because it is always the legal issues and legal situations related to the broker you selected, the broker was licensed or not in your country, which agreement you signed with them, and more.

  • Alternatively, if you feel bad related to your choice of the broker (if you do not know about your broker anything and worry for your money with your broker) so - find internet forums (use google to find) which are specializing on the discussion about the brokers (incl reviewing them and helping with some cases for example). You can go to those forums and ask their advice. Search google with "forex forum brokers discussion" and especially with "forexpeacearmy forum brokers discussion". Find those forums and ask their advice.

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