My broker often rejects my withdrawals, should I be concerned?

@kemi_allen_omevia - 3 months ago - Forex Brokers

So, I trade with this broker (name withheld) and on three occasions I have initiated a withdrawal and they rejected it. When I contacted their online support agent, they just said the payment processor could not forward the funds. They were also gracious enough to return the funds to my trading account but it has left me suspicious. Could the broker be playing games with me?

@cahaya_dewan - 3 months ago

Is the broker regulated by reliable financial market authorities?

@kemi_allen_omevia

@kemi_allen_omevia - 3 months ago

Quoted - cahaya_dewan

Is the broker regulated by reliable financial market authorities?

Yes the broker is FCA UK regulated but my account is registered under their offshore entity in Seychelles,

@cahaya_dewan

@ozgal_galzo - 1 week ago

Quoted - kemi_allen_omevia

Yes the broker is FCA UK regulated but my account is registered under their offshore entity in Seychelles,

Sometimes it may not be the brokers fault, it could be that you may be trying to withdraw to a dormant account or to an expired debit card

@cahaya_dewan - 5 days ago

rejection of withdrawals is a red flag and a sign of a scam broker. Do not take it lightly, especially if it keeps recurring.