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Should I pay tax to the broker?
Calvin
Gambia
2023-06-09
ANSWER ETHBTC is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.ETHBTC's website currently shows that it "is under construction". This is a common sign of a scam, as a properly-functioning website is critical for a broker to display essential information including regulatory information and licensing data, and to facilitate trading. The failure of a broker's website to function well can be considered as a red flag, suggesting potential issues with the broker's operation and reliability. According to our data, ETHBTC used to claim that it is overseen by the National Futures Association (NFA). However, no corresponding records exist in the NFA registry. This contradictory situation further proves that ETHBTC is a non-regulated broker.Regarding your question, if ETHBTC asks you to pay extra fees or taxes for withdrawal, please stop sending money to them. It is a typical withdrawal scam. ETHBTC is an unregulated broker, coming with huge risks including financial losses and identity theft as there are no safeguards in place to protect investors. Therefore, we strongly suggest investors stay away from unlicensed brokers like ETHBTC and choose fully regulated ones instead.
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