Spreadex Markets Ltd is asking for upfront 30% tax on profits

Broker FAQ 📈
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1

I have invested in forex through SpreadEx Markets ltd. When i ask them to withdraw my money. They are asking me to pay 30% upfront tax on profits to withdraw. Also, they have blocked my account until i pay the tax. Is this legal?
I have not seen any broker asking for upfront tax payments.

1 Like
2

Hi,

Thanks for reaching out. It looks like you’re dealing with a scam. SpreadEx Markets Ltd is likely a clone of SpreadEx Ltd, which is a legitimate broker regulated by the FCA (Financial Conduct Authority) in the UK. Scammers often create clone websites or companies with similar names to deceive people who are searching for the real, trustworthy broker.

Regarding the upfront tax on profits — this is highly unusual. Reputable brokers don’t ask for tax payments directly or block accounts until taxes are paid. Taxes are typically handled through your local tax authorities, not the broker. This is a classic red flag for scams, where they try to extract additional money under false pretenses.

I would recommend stopping all communication with them and reporting the incident to the relevant authorities, like the FCA or your local financial regulator.

Let me know if you need further help or guidance!

Best regards,
Andris

3

Thanks for your inputs. I infact lost money by investing money there on that platform.
The url of the fake website is - https://www.spreadexmarketsltd.com

I request you to highlight this to the broader audience so that they are aware and does not fall into the trap.

4

Hey,

I’m truly sorry to hear that you’ve been caught up in this situation. Thank you for sharing the scam broker’s URL—it will help protect other community members. We’ll add it to our scam database to prevent others from falling victim to the same scheme.

Unfortunately, the recovery of funds from scam brokers is an extremely complex procedure and chances of success are rather low.

I would recommend checking the following article where we collected a few things you can try to get your funds back: https://brokerchooser.com/forex/regulation/scams#how-to-recover-your-funds-when-scammed.

Also, please be careful with companies offering to get your money back. There are many scams that offer asset recovery services.

Please let me know if you have any further questions.

Best regards,
Andris

5

now they are asking for 17000$ to get vip membership. this seems like a scam.

6

Hi. I registered with Spreadex Global ltd and deposited close to 14,000 $ over 2 months. They showed a profit of about US $ 12000. I have been processing the withdrawal for the total of $ 26,000. First they said i have to pay 30% tax on the profit which I paid which was about 4000$. They they said, because my friend has deposited $ 2500 on my behalf so my account was a risk account. I needed to deposited another 5000$ which i also did. Then they showed a withdrawal from my account of 26,000 which i saw on the website. Then they said I have to pay 25 service charge on the withdrawal which was about 6000$. After having paid all this, now they said I have to upgrade to a VIP account to get the money. I have lost more than 25000$ on this. what can i do?

7

Hi,

I’m really sorry to hear about your situation, but it’s important to clarify a few things.

Spreadex is a legitimate company regulated by the UK Financial Conduct Authority (FCA), which is a top-tier regulator. However, what you’ve described is a classic scam tactic, and it’s highly likely you’ve been dealing with scammers pretending to be the legit Spreadex. Real brokers like Spreadex would never:

  • Ask you to pay additional fees (taxes, service charges, or VIP account upgrades) to process a withdrawal.
  • Request further deposits to resolve account issues. Legitimate brokers deduct fees directly from your account balance and don’t require extra payments.

Please double-check the URL or platform you’ve been using and share it with me so I can verify its authenticity. Scammers often set up fake websites that look like those of real brokers.

Here’s what you should do next:

  1. Stop all further payments.
  2. Collect all evidence, including emails, chat logs, payment receipts, and account details.
  3. Report the scam to your local authorities, financial regulator, and the FCA. You can file a report with the FCA using this link: Report a scam | FCA.
  4. If you’ve paid via bank transfer or credit card, contact your bank or card provider. Ask if they can reverse the transactions or initiate a chargeback.

Please share the platform’s URL with me, and I’ll confirm whether it’s associated with the real Spreadex.

Best wishes,
Andris