Company offered to borrow money to enter to the contract for arbitrage for 6 days. Now asking to repay, they don’t want to use money that are on my account but insiste on separate deposit of funds to match "borrowed amount " contract for arbitrage will end only in 5 days from now but repay for “borrowed fund/loan” need to be done now. Is this even a common practice? TY
Hi there,
Thanks for reaching out. I’m really sorry to hear that you’ve been caught up in this situation. Based on your experience, it seems like you’re dealing with a scam. Scam brokers often ask for additional deposits, claiming they are for different fees, taxes, or commissions to maintain your account or release your funds. Unfortunately, paying these additional amounts will only lead to further losses. Scam brokers use these tactics to squeeze even more money out of their victims.
To protect yourself, I strongly advise you to stop making any additional deposits. Instead, you should report this incident to the relevant financial regulatory authorities in your country. They can provide guidance on the next steps to take and potentially help in recovering your funds.
If you need any further assistance or have more questions, please feel free to reach out.
Best regards,
Andras