Topic: Dealing with a broker and wants his commission before I see the ROI - page 2. (Read 218 times)

Oh boy. Can't say for sure because we haven't seem the website ourselves, but it smells like you've been duped. Hopefully you haven't given him that much money? The "trading broker" thingy is a pretty common scamming tactic.

I do not know him personally. It seemed like he is legit, unless his website is fake and he is posing as someone else. I can not find many individual brokers that do actually crypto trading.

Just to clarify this, we're talking about an individual broker who you've entrusted your funds and you directed the trades which needed to be done, he has only acted on your instruction, so it's not a case of I'm sending you 10k,do what you can with it, right?
This is a pretty weird situation, you say you know he is a legit broker so didn't you sign anything with him when you started investing? Every broker has a commission, there should be a contract stipulating all fees as well as other terms of force majeure.

If you don't have a contract with him, if he refused the solution you've proposed him (did you actually ask him to take his fees before returning your investment?) then it's a matter to report to FINRA but, this one is weird, I've heard of extra hidden fees, of deliberately late payments, and so on but advanced payment to return your money? This is how scammers work around here!

I have a feeling there is a little bit more to this story, of which you indeed might not be aware.

LE:

Oh...shit! Can you (want to) share the website?

Please tell me it's not the usual Instagram/telegram stranger who told you to invest in some unknown coin and deposit money on a website where you're shown only gains, but the first time you tried to get that money they asked you to deposit more....

Do you know that broker personally? in crypto, you actually don't need to have any broker for you to start trading. You just register for an exchange that's available in your country and if they ask KYC, it's up to you. But there are exchanges that don't require KYC at all.

These are the common exchanges: Binance, Kucoin, FTX and the others through https://coinmarketcap.com/rankings/exchanges/

Maybe you didn't read the terms and conditions of using that broker mate. Lol actually that's the reason why i don't use broker when it comes trading because of the commission of it which is sometimes not fair.. Infact without such things is almost the same, i mean the only thing that you need is more efforts but that's fine in my personal opinion, instead of paying expensive brokers that the prices seems unacceptable.. 

I checked him out, even called my local division of finance and there is nothing out there on him. He is SEC and FINRA active.

I was thinking the same thing, can he not take his commission out of the ROI and then send it to me. I shouldn't have to pay more for him to release the ROI to me.

If anything, he should be able to return my original investment back to me in a act of good faith, keep the ROI and then if he does that, I can pay his commission to get my ROI in return.

I am using him, because he is supposidly a day trader, and I am a newbie

If i want to do this on my own, which crypto exchanges do you use?

The broker you talking about is a company? Or just a person?

How did you know that he is SEC and FINRA active?

I never had any experience dealing with a Broker but it seems suspicious to me if he asks for a 15% commission before they send your ROI because he can just able to deduct the commission in your ROI.

I personally don't like the idea of using a broker when trading cryptocurrencies, and I have never used any. 15% is huge.

May I ask why you are using a broker to trade and not the usual crypto exchanges that are readily available and will charge you very little in trading fees and maybe withdrawal charges?

Hello all

I am new here and like the title says, I am dealing with a individual broker. Now to get my ROI i have to pay his 15% commission and then he will send me my ROI.

Is this normal?

Can he not take the commission out of the ROI and then send me the rest?

He is SEC and FINRA active.

Any advice would be appreciated.