The Cost of Following a French Trader Is a Frozen RaiseFX Account

BrokersView noticed a warning issued by a trader on an industry forum last week regarding the broker RaiseFX. The trader stated, "I'm posting this to warn others, especially because I couldn't find any prior posts or reviews about this broker before depositing." He reported a loss of €1,000 in his RaiseFX account, an ordeal that began with a single tempting advertisement on Facebook.

According to the trader's description, he was initially attracted by a Facebook ad from a French trader who claimed to be highly profitable in trading XAUUSD (Gold). To gain access to his trading strategies and copy-trading opportunities, the victim was told he had to open an account with RaiseFX and deposit €1,000. In pursuit of this so-called "profitable secret," the user complied, only to find that while the money went in easily, getting it out was nearly impossible.

When the trader attempted to withdraw his funds via cryptocurrency, a persistent "technical bug" appeared on the RaiseFX website. This was not a one-time network glitch but a consistent barrier that prevented the withdrawal process from completing, regardless of how many attempts were made.

What unsettled the user even more was the platform's attitude. After encountering the issue, he contacted their support several times, but days passed without a single response. Faced with a total lack of communication and funds "seized" by a technical fault, the user had to accept the loss and consider the money stolen, admitting he felt "stupid and depressed."

One commenter remarked: "It's not a bug, it's a feature." In their view, this might be a deliberate part of the platform's design to ensure that once funds enter, they can never leave. Another user shared this pessimistic outlook, believing the so-called glitch was intentional and advised the original poster to stay away from crypto-transfer deposit methods in the future.

Furthermore, other traders pointed out that RaiseFX claims to be a subsidiary of Raise Global SA, which is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. If this affiliation is legitimate, the victim might attempt to file a complaint with the FSCA. However, as discussed in the comments, legitimate investment companies typically allow users to withdraw funds at any time and do not use "technical difficulties" as an excuse for delay, nor do they go missing when a user encounters funding issues.

More recent BrokersView articles on withdrawal difficulties and scams:

User Reveals How Ainqt Investment App Uses Small Withdrawals to Set a Long Con Trap

Why the Option Hotshot Pulling Six Figures a Week Suddenly Needs to Borrow Your Cash

How A Get-Rich-Quick Telegram "Telescam" Drains Your Wallet

BrokersView Reminds You

Beware of Social Media "Signals": Any behavior that involves showcasing high profits on platforms like Facebook or Instagram and mandating that you open an account and deposit with a specific, obscure broker usually carries immense risk.

Watch Out for Secondary Scams: Once you expose your scam experience online, "recovery scammers" may reach out claiming they can help you recover your losses. Please remain extremely vigilant and never transfer money again.

If you have had a similar experience, please submit a complaint to BrokersView.