Is this an elaborate scam?

FTMO Trader Scouting


New Member
On Feb 19th 2020, I seen something on instagram and became curious about Forex so I started following robschultz_fx on instagram. I asked him about investing with him as there seems to be positive references on his profile and around instagram such as edward_arceno and rambabu.singh137 as just a couple of those that freely promote him evidently without compensation. So I open an account on and make a deposit of $1000 worth of bitcoin into the account. Rob did well in communicating with me, then within day or two I could login and see my account value worth $2000, then $3000, then $5000, and it just kept going up. He said the trading cycle was for 72hrs, and asked if I could fund the account more in order to see more profits. I added another $2800 worth of bitcoin, so now I have a total of $3800 into this and my account value just kept multiplying.

After the trading cycle, the account balance is at $42,000. I am ecstatic! I go to make a withdrawal and he says that I have to pay a 8.5% expanse ratio/internal cost fee before being able to withdraw. So I sent another $3600. Then I made the rookie mistake of trying to transfer the funds to my cashapp wallet which has a deposit limit of $10,000. So Rob does a RBF Protocol and the $42000 back into the account as a deposit. But he says a new trading cycle has to complete before I can withdraw my funds. So at the end of this trading cycle, but account balance is at $120k. Great!

I make a withdrawal of 42k to my blockchain wallets. Although Rob says it should take less than an hr, many hours go by, then days go by. It's been a week now and i've been back and forth with Rob about where in the Hell is my money. As you can see in the screenshots below, Rob says that my withdrawal is 'experiencing Slow phase level'. That the transaction is being verified on the blackchain and miners at an extremely slow level with will take an extended period of time. But it's nothing to worry about. 80 of ther clients are currently experiencing the same thing. But he can upgrade my account to 'Priority' if I fund the account with $22,300. 'With the funding of $22,000 my total earning will be at $140,000 (the funding will be added directly to your deposits and it can be withdraw instantly.)'

So I reached to two other people on instagram who are affiliated with Rob and say they trade with him. They both confirm that they have had similar issues but after funding the account with the required amount that the withdrawals worked without a hitch.

Is it just me or is this completely ridiculous? I think of myself as a sensible person, and I just can't wrap my head around why the fees can't be taken out of the current account balance.

Has anyone else in the Forextrading world ever heard of anything like this? I need some help please. Even if I had $22k, I really don't want to lose it to a scam like this.

At the same time, I've called him on the phone through whatsapp maybe 7 times in the past month and he always tries to spend time talking to me answering my questions and tries to reassure me. If this is fake, then he is an outstanding conartist, because aside from these 'technical issues', I can't detect anything insincere about him.

At this point I have not received anything from him and there is no way I can really do anything about it. He's across the world in the UK.


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FTMO Trader Scouting