I have invested my life's savings with a broker that I now suspect is a scammer. The position is in profit.
Your money gone into your trading account through your broker and this is the only way to get them out.
Metatrader 4 is the platform used for trading and nothing more, its not a financial institution or something.
If you feel that your broker is not trustworthy, I suggest you to contact their regulating authority and find a lawyer that deals with these kind of things.
Your funds are not in MT4, they are with your broker.
Only your broker can release the money.
Have you tried to withdraw your money?
Your funds are not in MT4, they are with your broker.
Only your broker can release the money.
Have you tried to withdraw your money?
Thanks for your replies. I don’t have an address for them, they are not regulated in my country, so there’s no point in getting a “good lawyer” and trying to sue them. I haven’t logged in to my account yet as I’m too wary of the possibilities. Do you know if a scam broker can close an open position ans release funds for themselves? Or can open positions only be closed by clients?
Also can funds be released by broker from previously closed positions, even if there is still an open position?
Thanks for your replies. I don’t have an address for them, they are not regulated in my country, so there’s no point in getting a “good lawyer” and trying to sue them. I haven’t logged in to my account yet as I’m too wary of the possibilities. Do you know if a scam broker can close an open position ans release funds for themselves? Or can open positions only be closed by clients?
Also can funds be released by broker from previously closed positions, even if there is still an open position?
I don't understand your concerns about your open positions. If your broker is good, you have nothing to fear, if not, anything you do will not change your situation.
As Keith said, try to withdraw your money and if there is a problem, contact their regulating authority (wherever that is) and find a good lawyer.
I myself was dealing with a similar situation in my early years and when it was clear that the broker wasn't going to give my money back, I sent my lawyer to their offices in Cyprus. The next day my money were back in my bank account.
I don't understand your concerns about your open positions. If your broker is good, you have nothing to fear, if not, anything you do will not change your situation.
As Keith said, try to withdraw your money and if there is a problem, contact their regulating authority (wherever that is) and find a good lawyer.
I myself was dealing with a similar situation in my early years and when it was clear that the broker wasn't going to give my money back, I sent my lawyer to their offices in Cyprus. The next day my money were back in my bank account.
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I have invested my life's savings with a broker that I now suspect is a scammer. The position is in profit.