I get dozens of questions about potential scams and 99% of them are about Bitcoin, Forex and Binary options.
The common scam is that you put a little bit of money in and you get a good return. Very often, the investor will take the growth money out and there is no problem.
Because you are so impressed you put a little bit more money in and you get another good return and you can take the growth money out and there’s no problem.
Incidentally, if ever you want to take the whole lot out, you will usually hit a brickwall. However assuming that you haven’t:
You are so impressed that you then invest your life savings. Either communication stops or they want a fee for some kind of spurious licence required by the authorities in Singapore, Timbuktu, Latvia, Estonia, the Dominican Republic, or somewhere else where it’s impossible to find out if it’s legitimate or not.
There has been a lot in the press about this:
Based upon what you told me, that is exactly the situation you are in.
Ultimately, if they don’t pay you, then you have no option but to take into court but many of these companies are based in Cyprus and it’s really not practical.
Don’t be at all surprised the next thing is that they want money from you to withdraw any money and that withdrawal is not coming either. I am sorry to be the prophet of doom.