Withdrawal Scam! Forex broker IPCForex.com Refuses to Pay Profits!

Many investors have made money on Forex, but unfortunately, there are also a multiplicity of scams intended to take advantage of people who want to make money quickly. A common tactic is they won't allow you to withdraw money unless you pay extra fee first. However, when you paid the money, they will refuse your withdrawal apply and lose contact with you.

BrokersView recently learned that the forex broker IPCForex.com, which is operating under the website https://www.ipcforex.com/, has been one of the above scam brokers.

Induce Investors to Finish Advanced Certification

An investor posted his bad experience with IPCForex.com. He told that when he wanted to withdraw his profits, the broker asked him to finish advanced certification by recharging 4,000USD. When he did that, the amount became 3,999.20USD and the scam failed him for 80 cents and told him to send another 4,000USD if he wanted to withdrawal. This is the time he knew he was scammed by IPCForex.com.

"I invested into Forex for the first time last month using MT5, made a little bit of money, and when I went to withdraw my money, because it was just over 10,000USD, it triggered some 'advanced certification' feature. ipcforex.com (might have to type in trader.ipcforex.com) said that I had to recharge 4000usd to complete the 'advanced certification' in order to be able to withdraw my money, so I did. After fee's were taken out, the amount that went through was 3999.20 and they failed me for 80 cents and said that I needed to send them another 4000. I said no, they still have my money, and now I'm here. Please help! The money they are refusing to let me withdraw is all I have after losing my job due to covid situation last April. " the investor said.

Claims to be Globally Regulated

The scam claims to provide traders with forex trading services with globally regulated license. In fact, it lacks any kind of regulation. As we all know, all good brokers are not only registered but also will provide their credentials and help you verify their registration status. If IPCForex.com is actually regulated by any regulators, it will definitely present the license information on its website. By the way, we checked its domain, the result shows it was created on 2021-05-14. the broker said it has customers come from more than 20 countries and regions around the world. At present, there are more than 300000 people registered. Just nearly two months, how could that be true?

While the forex market is slowly becoming more regulated, there are more unlicensed brokers at the same time. Brokersview advises investors to exercise extreme caution when coming across brokers who ask you to deposit more money before paying your profits. It is a necessary to only deal with forex brokers that are authorised by the regulators.