NotquiteSure
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Hi guys,
I have been using a broker by the name of Hengxin (HXI) and after having invested significant amounts of money with them realised that they are a white Label broker (unregulated).
Using their services I have been able to attain profits double of my initial investment opening and closing trades by myself using MT4. As I attempt to withdraw funds, they are stating that I need to pay a tax on the profits earned within a week to be able to withdraw my funds due to the high tax rates for my country (Australia)
Would the White Label Broker (HXI in this case) be able to manipulate my screen and have my account set up as a demo whilst showing me that it was a real account instead? This would explain why I am unable to withdraw funds and they wish for me to keep pushing money in to get my existing funds out.
This is raising a lot of red flags for me and I am seriously concerned if I would be able to get back any amount of my funds back. They have also threatened to freeze my account if the tax is not paid in full.
Can anyone give some guidance on this please?
I have been using a broker by the name of Hengxin (HXI) and after having invested significant amounts of money with them realised that they are a white Label broker (unregulated).
Using their services I have been able to attain profits double of my initial investment opening and closing trades by myself using MT4. As I attempt to withdraw funds, they are stating that I need to pay a tax on the profits earned within a week to be able to withdraw my funds due to the high tax rates for my country (Australia)
Would the White Label Broker (HXI in this case) be able to manipulate my screen and have my account set up as a demo whilst showing me that it was a real account instead? This would explain why I am unable to withdraw funds and they wish for me to keep pushing money in to get my existing funds out.
This is raising a lot of red flags for me and I am seriously concerned if I would be able to get back any amount of my funds back. They have also threatened to freeze my account if the tax is not paid in full.
Can anyone give some guidance on this please?