Sinox FX Scam Warning: Fake Tax Demand on Withdrawal

Sinox FX, which used a Bur Dubai address, was a forex platform promising leverage of up to 1:1000, an MT5 account and PAMM/MAM managed accounts. Anyone visiting sinoxfx.com today meets a domain sales page; the platform itself has long since disappeared.

🔍 Platform Profile

Although the domain was acquired in 2021, the site claimed a history going back years with the notice "© 2016". It also emerged that the positive reviews written in the platform's favour came from accounts linked to sales staff.

💸 The "Tax" Demand on Withdrawal

The account manager first has the investor trade for a few weeks and builds up the balance. When a withdrawal is requested, an additional payment called "tax" is demanded before the money can be released; after the payment is made, the manager can no longer be reached.

🔗 Other Platforms That Tie Withdrawals to Extra Payments

We have previously written about platforms that ask for a final payment under the name of "tax" or "withdrawal commission".

🧭 What Comes Next

Acts committed by using computer systems as a tool are treated as qualified fraud under Article 158/1-f of the Turkish Penal Code. Refunds from an overseas forex firm and the money laundering linkTR concerning the accounts the money was sent to are the two main axes of each case.

For detailed information and legal support, you can contact Savun Law & Consultancy.

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