<p>It is certainly not 'normal' for an exchange to demand 'taxes' in order to withdraw. If you have a positive balance on your account, and they are requesting that you send additional, new money to them, then I would say without a doubt this is a scam. Think about it: why would they not just deduct any 'taxes' as a fee from your total balance when you withdraw?</p>

<p>My advice would be to <strong>not</strong> send them any more money ($$, BTC, etc). I am sorry to say, but you may have to cut your losses, and just move on. If the amount lost was substantial you could try reporting the scam/theft to your local law enforcement, but there may be little they can do to help.</p>

<p>You can try making a wallet of your own to withdraw the BTC balance to, but I would guess they will not allow this withdrawal either. </p>

<p>As an individual, you may be liable to pay taxes on your cryptocurrency trading, but this liability would be to your local tax authority.</p>

<p>Sorry for your losses :(</p>

CC BY-SA 4.0
2018-07-19T09:04:06.480Z
Well my balance to FA exchange is now raised up, however, the insist to pay taxes, in order to proceed my request for a withdrawal. They argue that I am not trading to my own country thus taxes should be apportioned and I insist to keep those from my current balance. I do not see this thing going anywhere any advice??
Alexandros
CC BY-SA 4.0
2018-07-19T10:07:02.090Z
@Alexandros unfortunately I think no matter what you do they will not release any funds to you. If there is legitimately taxes to be paid, I see no reason they couldn’t be paid from your balance. It seems the scammers are simply trying to get more money from you with ‘taxes’ as an excuse. Sorry for your losses :(
chytrik
CC BY-SA 4.0
2018-07-09T21:28:03.443Z
2018-07-09T21:28:03.443Z
chytrik
<p>I also had the same issue with them when I took out profits(I had to pay like 8 percant out of my win, and the same happened to me with another broker),after I searched a bit and I found that It also happened to all of the traders from my country(I am from Chile) but not for people from other countrys(I spoke with Australian, and Germans that are trading with them), my guees is that it got to do with the fact that our counry's aconomy is weak..</p>

CC BY-SA 4.0
2019-05-01T14:54:17.160Z
2019-05-01T14:54:17.160Z
Raul
<p>Are those thieves? <a href="https://www.faexchange.com/" rel="nofollow noreferrer">https://www.faexchange.com/</a> 
I have created a balance of BTC with them and they now request to pay taxes in order to be able to withdraw my profit so I am worried about and wonder why they do no keep the taxes from my earnings?</p>

<p>Additionally to report that they do not allow any withdrawal until they receive the taxes however I have found out that they are included at "bad list" <a href="https://badbitcoin.org/thebadlist/index.htm" rel="nofollow noreferrer">https://badbitcoin.org/thebadlist/index.htm</a>
I do not have a bitcoin wallet; but FA exchange never advised me to open one.
Should I create one and request from them to transfer the bitcoins there? What about the taxes in this case, should be deducted?</p>

<p>Any kind of advice on how to continue further on to cash/ redeem my Bitcoin would be usable.</p>

CC BY-SA 4.0
2018-07-11T03:29:44.770Z
Do they have a posted policy that they linked you to that explains why and how they require you to pay them taxes? Legitimate companies don't make up new requirements.
David Schwartz
CC BY-SA 4.0
2018-07-13T19:57:59.977Z
No there are no comments for taxes at their policy terms- https://www.faexchange.com/risk-warning-notice/
Alexandros
CC BY-SA 4.0
2018-07-13T19:59:35.740Z
I have reported them to Greece police for electronic crime- I will give a statement forthcoming Monday.
Alexandros
<fraud>
Am I scamed? FA exchange trading company is fraud? They are requesting taxes
Alexandros
# Am I scamed? FA exchange trading company is fraud? They are requesting taxes

(Asked by: username_0 on 2018-07-09)

Are those thieves? <https://www.faexchange.com/>
I have created a balance of BTC with them and they now request to pay taxes in order to be able to withdraw my profit so I am worried about and wonder why they do no keep the taxes from my earnings?

Additionally to report that they do not allow any withdrawal until they receive the taxes however I have found out that they are included at "bad list" <https://badbitcoin.org/thebadlist/index.htm>
I do not have a bitcoin wallet; but FA exchange never advised me to open one.
Should I create one and request from them to transfer the bitcoins there? What about the taxes in this case, should be deducted?

Any kind of advice on how to continue further on to cash/ redeem my Bitcoin would be usable.

**Tags:** fraud

> **Comments:**
> **username_1**: Do they have a posted policy that they linked you to that explains why and how they require you to pay them taxes? Legitimate companies don't make up new requirements.  
> **username_0**: No there are no comments for taxes at their policy terms- https://www.faexchange.com/risk-warning-notice/  
> **username_0**: I have reported them to Greece police for electronic crime- I will give a statement forthcoming Monday.  

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## 2 answers

### Answer by username_2 on 2018-07-09. Score: 1

It is certainly not 'normal' for an exchange to demand 'taxes' in order to withdraw. If you have a positive balance on your account, and they are requesting that you send additional, new money to them, then I would say without a doubt this is a scam. Think about it: why would they not just deduct any 'taxes' as a fee from your total balance when you withdraw?

My advice would be to **not** send them any more money ($$, BTC, etc). I am sorry to say, but you may have to cut your losses, and just move on. If the amount lost was substantial you could try reporting the scam/theft to your local law enforcement, but there may be little they can do to help.

You can try making a wallet of your own to withdraw the BTC balance to, but I would guess they will not allow this withdrawal either.

As an individual, you may be liable to pay taxes on your cryptocurrency trading, but this liability would be to your local tax authority.

Sorry for your losses :(

> **Comments:**
> **username_0**: Well my balance to FA exchange is now raised up, however, the insist to pay taxes, in order to proceed my request for a withdrawal. They argue that I am not trading to my own country thus taxes should be apportioned and I insist to keep those from my current balance. I do not see this thing going anywhere any advice??  
> **username_2**: @username_0 unfortunately I think no matter what you do they will not release any funds to you. If there is legitimately taxes to be paid, I see no reason they couldn’t be paid from your balance. It seems the scammers are simply trying to get more money from you with ‘taxes’ as an excuse. Sorry for your losses :(  

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### Answer by username_3 on 2019-05-01. Score: 0

I also had the same issue with them when I took out profits(I had to pay like 8 percant out of my win, and the same happened to me with another broker),after I searched a bit and I found that It also happened to all of the traders from my country(I am from Chile) but not for people from other countrys(I spoke with Australian, and Germans that are trading with them), my guees is that it got to do with the fact that our counry's aconomy is weak..


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