Investors Have Difficulties in Withdrawing from Scam Forex Broker TGX MARKETS

There are several ways that investors are entrapped by Forex scammers. The most common one is that scammers induce investors to make deposits and then refuse their withdrawal requests with different excuses.

Brokersview recently learned that some investors have been defrauded by a scam forex broker TGX MARKETS. Based on the information we hold, these investors were caught in withdrawal scams operated by the fake broker and even can't get in contact with their customer service.

Investors Have Difficulties in Withdrawing

According to an investor who posted his experience with the fake broker, he had traded at TGX MARKETS for a period of time according to the rules and made some profits. But when he wanted to make a withdrawal of $1465.20, the broker refused his request because he had changed his IP.

“I can’t withdraw my profit even my deposit. All traders in Indonesia have similar experience. We have negotiated with TGX Markets. However, they blocked our accounts and we could no longer openled, which turned out to be a trap,”the investor said.

There are many other investors who complained about the withdrawal problems in TGX MARKETS, most of them are from Indonesia.

”I'm sad with the way TGX Markets LCC handled my investment, they denied my withdrawal the 5th time in a row. I have contacted their support but to no avail,”an investor said.

Another investor stated:”I traded with TGX from January and when I wanted to withdraw, the broker rejected with various reasons. They promised to pay at the end of March, but I am still waiting.”

Be Regulated by FSA

On its website, the fake broker says that it provides Forex trading and is subject to the supervision by the St Vincent & The Grenadines’s Financial Services Authority (FSA). However, in Saint Vincent and the Grenadines, forex brokers aren't regulated in any way. 

Although the regulation on the forex brokers are becoming increasingly tightened worldwide, there are many unscrupulous brokers who should not be in business. When looking for a licensed broker, it's important to verify its authenticity and business status.

Brokersview suggests investors to keep vigilant when choosing forex brokers. If you are not sure, you can search on the official website of the regulatory bodies.