If you bought a ticket in the Saver fare class, then you will indeed only receive taxes back. The fee to change Saver tickets is usually €250 (or some similar amount in another currency), so you can usually recoup some of the fare by only changing tickets.
Flex tickets can be changed for €100 and cancelled for €150. Flex tickets can be worth the flexibility if they're not much more expensive, especially if you're a frequent flier and will benefit from the extra miles.
You should speak to Emirates on the phone as soon as you can. If you're lucky, they will work things out for you and reverse the refund, so you can change the ticket instead. The refund has to be worked out manually, I think, which is why there is no confirmation screen as such. However, you must tick these three boxes in order to submit the form, so honestly it's your own fault that you didn't read them! I would be surprised if they do anything for you.
– I understand the fare conditions of my ticket/document relating to refunds advised at the time of purchase. If my ticket/document is non-refundable, I understand I will only receive a refund of the applicable unused taxes.
– I confirm that by requesting a refund my booking will be cancelled.
– I understand that the refund process cannot be reversed once I have submitted this refund request.
The fees for changes are
always less than the fees for refunds. The only time getting a refund might end up than changing the ticket ticket is if you change your ticket and the new fare is less expensive than the old one.