Can funds be sent directly from MT4 to client, rather than a scam broker?

New comment
 

I have invested my life's savings with a broker that I now suspect is a scammer. The position is in profit.
My suspicion is that once I close the position I will not see my money again and they will keep all the profit and initial investment.
Is there any way to log onto my  MT4 account, and redirect funds to my original bank account rather than having the funds go to the brokers account. Effectively bypassing the broker.
I do not trust my broker, and do not want to be beholden on them to pass my funds onto me. 
I have checked with the brokers and I do not owe them any money, as there were no fees and no commission.
My life will be changed forever if they steal my life's savings from me.
I am a genuine person in desperate need of help, and sound advice on what to do next.
Please respond urgently.
Thankyou in advance.
 
LotteyCharles:

I have invested my life's savings with a broker that I now suspect is a scammer. The position is in profit.
My suspicion is that once I close the position I will not see my money again and they will keep all the profit and initial investment.
Is there any way to log onto my  MT4 account, and redirect funds to my original bank account rather than having the funds go to the brokers account. Effectively bypassing the broker.
I do not trust my broker, and do not want to be beholden on them to pass my funds onto me. 
I have checked with the brokers and I do not owe them any money, as there were no fees and no commission.
My life will be changed forever if they steal my life's savings from me.
I am a genuine person in desperate need of help, and sound advice on what to do next.
Please respond urgently.
Thankyou in advance.

Your money gone into your trading account through your broker and this is the only way to get them out.

Metatrader 4 is the platform used for trading and nothing more, its not a financial institution or something.

If you feel that your broker is not trustworthy, I suggest you to contact their regulating authority and find a lawyer that deals with these kind of things.

 

Your funds are not in MT4, they are with your broker.

Only your broker can release the money.

Have you tried to withdraw your money?

 
Keith Watford:

Your funds are not in MT4, they are with your broker.

Only your broker can release the money.

Have you tried to withdraw your money?

Thanks for your replies.  I don’t have an address for them, they are not regulated in my country, so there’s no point in getting a “good lawyer” and trying to sue them.  I haven’t logged in to my account yet as I’m too wary of the possibilities.  Do you know if a scam broker can close an open position ans release funds for themselves? Or can open positions only be closed by clients?

Also can funds be released by broker from previously closed positions, even if there is still an open position? 

 
LotteyCharles:

Thanks for your replies.  I don’t have an address for them, they are not regulated in my country, so there’s no point in getting a “good lawyer” and trying to sue them.  I haven’t logged in to my account yet as I’m too wary of the possibilities.  Do you know if a scam broker can close an open position ans release funds for themselves? Or can open positions only be closed by clients?

Also can funds be released by broker from previously closed positions, even if there is still an open position? 

I don't understand your concerns about your open positions. If your broker is good, you have nothing to fear, if not, anything you do will not change your situation.

As Keith said, try to withdraw your money and if there is a problem, contact their regulating authority (wherever that is) and find a good lawyer.

I myself was dealing with a similar situation in my early years and when it was clear that the broker wasn't going to give my money back, I sent my lawyer to their offices in Cyprus. The next day my money were back in my bank account.

 
Eleni Anna Branou:

I don't understand your concerns about your open positions. If your broker is good, you have nothing to fear, if not, anything you do will not change your situation.

As Keith said, try to withdraw your money and if there is a problem, contact their regulating authority (wherever that is) and find a good lawyer.

I myself was dealing with a similar situation in my early years and when it was clear that the broker wasn't going to give my money back, I sent my lawyer to their offices in Cyprus. The next day my money were back in my bank account.

Thank you for your reply, and understanding, you’ll know the dilemma I’m talking about if you’ve also been there in your early years. Glad your money got back into your account.  I shall keep hope alive for my situation.  
New comment
Reason: