Forex money withdrawal
Just log in to the client portal, navigate to the money withdrawal section, fill the online form and click the submit button.
Today forex bonuses
Forex brokers with best money withdrawal options in 2021
The best and most exciting thing about forex trading is, of course, to withdraw your profit from the forex broker. Say you have been trading, made a considerable amount of profit and now you want to spend your profit. In order to be able to do it, first you have to get your money back from the broker. To withdraw money from your forex account is very straightforward in general but does require you to take few steps.
Forex brokers with best money withdrawal options
Forex.Com
Forex.Com is owned and operated by an industry giant; GAIN capital holdings who has been around for more than 20 years. Forex.Com is registered and regulated by CFTC, NFA and CIMA. The broker accepts clients from the US. Investors can deposit and withdraw funds by credit card, bank card and wire transfer. Digital wallets are going to be available soon.
Money withdrawal options: credit card, bank card, wire transfer
XM
XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods. Those methods include neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort and western union. One important detail which makes XM even more favorable is that the broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.
Money withdrawal options: wire transfer, credit card, neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort, western union
Fxpro
Regulated by FCA,cysec and SCB, fxpro is headquarted in london and one of the most prominent forex brokers in the industry. Traders who open an account at fxpro can withdraw and deposit funds through credit card, international bank transfer (SWIFT), paypal, skrill, neteller and china unionpay.
Money withdrawal options: wire transfer, credit card, paypal, skrill, neteller, unionpay
Hotforex
Established in 2010 and headquartered in cyprus, hotforex is an award winning forex broker that offers a wide range of account types and trading instruments. The broker is pursuing a policy of providing the most convenient and advantageous trading conditions for the traders. You can deposit money in hotforex using credit or debit cards and bank wire transfers. Apart from that hotforex also accepts skrill, neteller, fasapay, sofort, mybitwallet, ideal and webmoney.
Money withdrawal options: wire transfer, credit card, skrill, neteller, fasapay, sofort, ideal, webmoney, bitcoin
Exness
Exness was founded in 2008 in russia and has grown into one of the most popular forex brokers in europe since then. The company is regulated by cysec in cyprus and FCA in UK. Having a wide array of payment methods, transacting money on this brokerage platform is pretty easy and quick.
Money withdrawal options: wire transfer, credit card, skrill, neteller, webmoney, perfect money, sticpay, jeton wallet
Choose the withdrawal option
When it comes to withdraw your profit from forex brokers, the methods are not scarce including credit card, wire transfer, paypal, neteller, skrill, western union, bitcoin to name a few.
I usually go with wire transfer when withdrawing my profit. Nevertheless it comes with some caveats. Wire transfer is recommended if only you are going to withdraw an amount over a thousand. Otherwise the bank transfer fees are going to eat up your hard earned profit. Bear in mind that when you choose to get your money back through wire transfer, you are going to get double charged (once by the bank in where your forex broker is located and again by your local bank). The fees could range from $50 to $100 in total. The certain amount completely depends on the bank the broker is working with and your local bank. International wire transfer fees charged by some US banks are explained in this article.
My second favorite option to withdraw funds from forex account is credit card. Again there are some caveats. Some forex brokers don’t allow you to withdraw more than what you deposited with the same credit card. When you deposit $1000 to your forex account using credit card, you can only withdraw an amount up to $1000 by the same card. So you will have to choose another withdrawal method to transfer your profit.
Though I haven’t used so far, other popular methods are digital wallets like neteller, skrill, paypal. Forex brokers don’t charge extra fees to withdraw money by digital wallets however those services apply their own fees when you want to transfer money from the wallet to your bank account.
Submit your withdrawal request
After you decided the best transfer option for you, you have to submit your withdrawal request. Forex brokers used to demand clients to print out a withdrawal form then fill, sign and forward it to the broker by mail or e-mail.
However nowadays you don’t have to go through this cumbersome process. Majority of the forex brokers provide clients with a username and password for the client portal where they can submit their money withdrawal request in just seconds.
Just log in to the client portal, navigate to the money withdrawal section, fill the online form and click the submit button. Congratulations!
An important caveat is that some forex brokers do not require clients to verify their account till to the point they wish to withdraw funds from their account. If this is the case for the broker that you are trading with, you will need to verify your forex trading account by loading proof documents for ID and address. However, you will have always the chance to verify your account upon registration in case you do not want to worry about the last minute rush.
Wait until your fund is transferred to your bank account / credit card / digital wallet
It ranges between one to three business days depending on the forex broker and withdrawal option you used. Wire transfer and credit card transfers could take up to three business days. Though I remember several times that I received the funds same day when I used wire transfer as the transfer option. The commission and fees are not fixed for wire transfer. Since there are three banks involved at a wire transfer transaction, it is hard to know the exact amount that is going to be charged as commission. However, based on my experience, I can say that it should range between $30 and $100.
Digital wallets such as skrill and neteller has a different commission and time schedule. First time you incur any commission is the moment you withdraw funds from your trading account. The rate changes between %3 and %2 of the amount you like to withdraw. It takes fews days between the time that money leaves your trading account and arrives at your digital wallet. Second time you will get charged is the moment you transfer the money from your skrill account to your bank account. That is another %3 – %2 commission.
Wire transfer is my preferred withdrawal and deposit method. I use digital wallets only if wire transfer is not among the methods offered by the forex broker. Credit card is fast and more reasonable than any other withdrawal and deposit method. Nevertheless, I shall kindly point out that in the case you choosed credit card as a withdrawal method, you can only withdraw the amount you deposited by the same credit card. Therefore, you will have to use another method in order to be able to withdraw your profit.
Fxdailyreport.Com
To answer this question, you need to understand how the trading market works. Forex brokers (dealing centers or dcs) are such licensed companies that provide traders with professional services for access to trade in the international currency market. The success of work on forex depends on the right choice of a dealing center.
Therefore, you should give a preference to a reliable and experienced broker with a variety of trading instruments. The company should have a long history of completed foreign exchange transactions. But how to choose the best forex broker for withdrawal?
How to choose the best forex broker for withdrawal?
Choosing a broker for trading on exchanges should begin with collecting information about successful transactions and openness in working with clients. A reliable broker has its portfolio of deals, a large number of reviews from customers.
The simplest way is to check the published lists of traders, which are continually changing and updated. The trader with the most reviews will offer some of the safest working conditions. We also recommend paying attention to how the process of registering and depositing money with a particular broker is going.
- Forex broker license
The presence of a broker license allows you to judge his conscientiousness and honesty in his approach to trading. A licensed broker is more likely to complete all transactions and also carries them with benefits not only for himself but also for the client.
But to obtain a license from well-known world communities or government agencies, a broker needs to try hard and earn a positive reputation. If you see that an unknown office located on a distant island issued the permit – you should avoid working with this broker.
- Forex brokers rating
On the internet, you can find several independent from each other ratings of popular brokers. You can sort them by the number and quality of reviews, working hours, and other essential parameters. We recommend you to pay attention to the number of completed transactions, the regularity in payments to customers, and not to leverage or the promised interest.
Top 10 forex brokers
| broker | info | bonus | open account |
|---|---|---|---|
| min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec | 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. | Visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC | $100 no-deposit bonus, 100% deposit bonus | visit broker | |
| min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize | “50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program” | visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN | 35% of the account deposit | visit broker | |
| min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA | visit broker | ||
| min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202 | visit broker | ||
| min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK | visit broker | ||
| min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC | visit broker | ||
| min deposit: $10 spread: leverage: regulation: cysec | - | visit broker | |
| min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec | visit broker |
In general, do your first steps in trading with the help of brokers with caution, trading on small amounts. Hence the preference in favor of traders with work experience and safe conditions.
- How do brokers earn?
Usually, brokerage support in the foreign exchange market is not free. And dealing companies, like traders, have some financial interests. How do they earn? Providing comprehensive support for trader transactions, such agents get income that makes up the difference between the purchase/sale prices of traded currency pairs (spreads).
Or they receive direct payment from the trader for each trade transaction conducted. Depending on the chosen scheme of work, a brokerage company can only get commissions or have additional sources of income.
- Reliable forex brokers
How to find a dealing center to which you can safely entrust your trading operations? One of the surest ways is to choose a broker on the recommendation of traders already working with them. Numerous ratings will also help ease the choice.
They publish information on the most successful and reliable forex brokers regularly. Besides, remember about such vital points as the transparency of the information provided on the dealing company activities. Check the legal documents and the availability of client support, working 24/7.
Three categories of brokers
In the modern foreign exchange market, there are three leading categories of brokers.
- Classical (most expensive) intermediaries work in the full-service format. They provide clients with a full range of services – from receiving orders to legal support of accounts.
- Discount dealing centers (discount broker) put the orders to the forex market. As payment for their work, they receive a monetary reward in the form of a percentage commission.
- Electronic or online brokers specialize in online transactions and have been extremely popular lately.
Withdrawal process in different brokers
How to withdraw money from your trading account? Every trader should ask himself this question when signing a service agreement. Let us talk about the withdrawal process on forex.
Why does a trader come to the forex currency market? Generally, not for fun, but profit. For this purpose, you study the basics of technical analysis, try various trading strategies, and read a lot of information. Finally, you achieved the result – profit. And the most critical question arises – how to get your hard-earned money?
How to withdraw money on forex?
The problem is that many traders choose brokers to trade without getting known how to get your earnings back. Many brokers have enormous commissions, and it may be that you did not even know about them. Let’s talk in more detail about how to withdraw money from a forex broker trading account.
What to do before opening a real account
Before you open a real deposit with a chosen forex broker, you should inquire about what conditions the broker withdraws the earned profit.
As a rule, money is available for withdrawal only after passing the verification procedure.
At the same time, verification can have several levels, on each of which you will need scans or photos of identity documents. Naturally, during registration, to avoid further problems, you should indicate your real last name and first name.
It is highly advisable to do the verification procedure before depositing funds. The requirements of a forex broker regarding the quality and quantity of necessary documents can seem needlessly strict to you. In this case, nothing stops you from changing your company before starting a financial relationship with it.
As a rule, there are no difficulties with verification. Most forex brokers request a standard set of documents: a passport scan and the confirmation of the address of your residence. After completing the verification, you only have to choose a suitable withdrawal method.
Most companies have a bonus program. Carefully read the terms of granting this bonus. Some bonuses limit the withdrawal of profits or even make it impossible without losing the reward.
Most popular ways of withdrawal
The methods for withdrawing profits, as well as the timing of this procedure, are different for each forex broker. For example, big companies withdraw money only to a bank account. Naturally, everything goes officially, including the income tax for individuals.
Dealing centers and brokers do not limit their services only in this way but offer many more ways to get your profits – from electronic payment systems to cryptocurrency. That is why you should choose a broker that uses the withdrawal method most convenient to you.
- Electronic payment systems
Most companies allow you to withdraw profits on electronic wallets of the most common payment systems. The leaders are paypal, skrill, and neteller. When choosing a payment system, be sure to check how much money you will lose when withdrawing profits. For example, neteller has a commission of 1% (no more than 11.41 USD or 10 EUR) and a fee of 1.39% of the withdrawal amount.
At the same time, pay attention to the timing. The withdrawal may take from several business hours to several business days – this will be indicated on the broker’s website and in the contract.
- Withdrawal to a bank account
This method is not so popular among ordinary traders. The commission charged in this case is slightly higher than when withdrawing funds to the same card using the chain trading account – electronic payment system – bank card. It is especially true if the country of residence of the trader and the broker’s country are different. In some cases, for citizens of other states, this method is generally not available.
The timing of the withdrawal of money also decreases the popularity of this method. Unlike electronic payment systems, it can take from 1 to 7 banking days. Nevertheless, many traders with a substantial profit (several thousand dollars) use this system. For such traders, it is not the waiting time that matters, but its maximum reliability.
- Forex brokers cards
The trend of issuing payment cards by brokers gains popularity. Each company names them different, but they are the same – an international mastercard. This method has many advantages. Using a mastercard, you can withdraw cash at any ATM, pay in stores, make purchases on ebay or amazon.
However, the most significant benefit is different. Brokers open their cards in the offshore zone. And the law of their native state doesn’t regulate them.. Therefore, if your profit from forex trading has reached a grandiose size, this method will be most profitable.
But there are some drawbacks. The issuance of such a card is not free, and the broker also charges a card maintenance fee. Therefore, if your profit is not too big, there is no reason for using it.
Conclusion
As you see, choosing the best forex broker for withdrawal is a quite complicated task. First of all, you should determine your needs and the most convenient withdrawal method for you. And only then you can start looking for a broker.
You have come to the foreign exchange market with serious intentions to make money. So the question of money withdrawal should interest you first of all. After all, the goal of a trader is earning, and not to deposit money on a forex broker account.
How do I withdraw my money?
If you deposited by debit of credit card then your initial deposit will always be refunded back to your card first. Once you have received your initial deposit back you can withdraw profits any way you want.
If you deposit by any other method you can withdraw any way you want (you to the maximum allowances)
To add a withdrawal method please follow these steps:
Visa/mastercard
1. Go to wallet-my credit cards- add a credit card.
2. Enter the last 4 digits of the card you deposited with.
3. Enter your password and click submit.
Zelle/ cash app/ paypal
1. To add a zelle/cash app/paypal address, please go to wallet- online payment methods- add an online payment method.
3. Enter your password and click submit.
Bank account
1. Go to wallet- my bank accounts- add bank account.
2. Enter the bank account details.
3. Enter your password and click submit.
Now you have added your withdrawal method(s), you can process a withdrawal.
1. Go to wallet and click withdrawals.
2. Enter the amount you want to withdraw and click submit request. The minimum is $50
3. Select one of your withdrawal methods from the drop down list.
4. Enter your password and click withdraw
5. You will see its now processing as it will be in the list above
6. If you have requested a bank wire, please now send an email to support@fairforexfx.Com stating which wire service you require. We send wires on same day for $35, next day for $10 and in 3 days for $5. International wires cost $45. Please note that these are the charges we are charged by the bank NOT fair forex charges.
Withdrawals requested before 12pm PST (which is 3pm EST) are processed the same day.
If we receive your request after 12pm PST then we will process the request on the next working day (excluding weekends and bank holidays). Card refunds can take up to 10 working days.
Brokers with fast withdrawals
Are there brokers with fast withdrawal an experiment, for the fastest withdrawals, read our review.
What distinguish a reliable broker from the "kitchen"? Right, a quick withdrawal. You did a good job and deserve to your money received into a bank account as soon as possible. When a broker starts to hinder the withdrawal of your funds, offering to send additional documents or scan of credit card, this is direct evidence that there is "kitchen". Of course, you need to keep in mind that verification of your documents is a prerequisite for any reliable broker. But when the verification has already been passed, and the broker requires all new and new documents, then it is just an excuse for you not to pay your hard-earned money.
Forex brokers with fast money withdrawal 2021
We have prepared for you TOP brokers with fast withdrawal. For the purity of the experiment, we took brokers with withdrawal to online payment systems. The withdrawal was carried out three times at the same time on all brokers participating in the experiment at different hours and days of the week, excluding weekends. We do not recommend you to order a withdrawal on weekends and holidays, as finance departments of the brokers and banks through which payments are made, only work on weekdays. As a result, we obtained the following results:
- Roboforex. First place in our ranking of brokers with fast withdrawal is roboforex ( reviews ) – on if you took about 1-3 minutes, and as representatives of a broker, applications for withdrawals are processed, even at night and on weekends. In addition, roboforex offers two days per month to withdraw funds without a fee. Also, roboforex in 2021 supports withdrawals through bitcoin and ETH, the withdrawal speed is few hours;
- Freshforex. In second place freshforex – withdrawal is carried out within 5-10 minutes without commissions;
- Forex4you. Withdrawal with the broker forex4you takes about 20-30 minutes;
- Amarkets. Another broker amarkets with fast money withdrawal – from a few minutes to an hour;
- Alpari. The average withdrawal time in alpari takes from several minutes to 6 hours. The first withdrawal will call you on the cell phone to clarify the amount of output, then processing of applications will be faster.
XM deposit and withdrawal methods in 2021
In our xm.Com broker review, we described the basic features and offers of this famous forex broker. In this article, we will analyze only deposit and withdrawal options.
XM is one of the leading foreign exchange (forex) brokers globally, and millions of traders worldwide are using XM for forex trading. Many of these forex traders are investing large amounts of money for forex trading. They would like to find out the XM deposit and withdrawal methods to make a decision accordingly. One of the factors affecting the choice of the deposit or withdrawal method is the country in which the trader is residing. Some payment/withdrawal methods are popular in each country due to several factors, and the trader will usually use that method since the fees will be less. Unless specified, the currencies for the deposit and withdrawal methods are USD, EUR, GBP, CHF, HUF, PLN, AUD.
XM deposit and withdrawal methods are online payment methods that XM forex broker allows for traders. XM.Com deposit and withdrawal methods are credit card, debit card, neteller, skrill, unionpay, bank wire. XM withdrawal options for partners are skrill, neteller, and bank wire.
XM offers payment options for traders, such as:
- VISA
- VISA electron
- Mastercard
- Maestro
- Diners club international
- Unionpay
- XM card
- Skrill
- Neteller
- Web money
- Bank wire
The minimum deposit for an XM account is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, $10 000 for SHARES accounts.XM minimum withdrawal value is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, while for SHARES accounts is $10 000. The minimum deposit value for the XM account and minimum withdrawal for the XM account is related to the type of order and not the payment method. Skrill withdrawal option is one of the most used payment methods, and the minimum deposit for skrill (withdrawal too) is based on account types.
XM deposit methods
How to deposit the XM account? There are several XM deposit options:
XM credit/debit card
XM accepts deposits using credit and debit cards from visa, visa electron, mastercard, maestro. The minimum deposit amount is $5, and the amount is immediately credited to the user’s forex account. There are no fees for using this deposit method. Since most people have a debit or credit card, this deposit method is widely preferred. However, most credit and debit cards have a limit, so the amount which can be deposited is also limited.
XM electronic payment
All the electronic payment methods have no fees and a minimum deposit of $5. Neteller, skrill, and unionpay are some of the electronic payment methods. For neteller and skrill, the amount is credited to the forex account immediately, while for union pay, the deposit will be processed within 24 hours. Cash only accepts USD deposits and przelewy24 accepts PLN deposits, and the amount is instantly credited to the forex account. For bitcoin, deposits in only three currencies, USD, EUR, JPY, are accepted, and it may take up to one hour for the payment to get processed.
XM banking
For sofort banking, deposits are only accepted in eur & GBP. Though the minimum amount is $5, and there are no fees, the deposit processing time will vary depending on the country. For conventional bank transfer of deposit amount in the forex account, at least two hundred USD or equivalent will have to be deposited in the forex account at a time. The fees depend on the bank, which is used. The amount deposited in the bank account will be credited to the forex account within two to five business days.
XM withdrawal review
If a user wishes to withdraw his money from the XM account, they will have to provide the know your customer (KYC) documents, which are specified. These documents are necessary to prevent money laundering according to the various regulatory bodies’ requirements in different countries. XM has an online and offline form where the customer’s personal information and background details have to be provided. This information will help XM in providing better service to their customers.
Compared to deposits, there are fewer withdrawal methods, which are discussed below. Unless specified, the XM user will have to withdraw at least five USD at a time, and there are no fees for withdrawal. The processing time for the withdrawal request is usually 24 hours on working days if the customer has completed the KYC requirements and submitted the documents required. These documents are the identity proof and proof of address of the trader. However, the amount will be credited to the linked bank account, usually only after three to five business working days.
XM credit cards and electronic payment
Visa, visa electron credit and debit cards, maestro and mastercard credit cards can be used for withdrawing funds. Unionpay is another option for fund withdrawal. Similarly, skrill ( earlier called moneybookers) and neteller are electronic payment methods used for fund withdrawal. Bitcoin can also be used for withdrawing the money in the XM account, though funds can only be withdrawn in USD, EUR, and JPY. Usually, credit/debit card withdrawals are given top priority by XM, followed by bitcoin withdrawals and neteller/skrill (e-wallet) withdrawals.
XM bank wire transfer
Many of the forex traders are trading in large amounts, and they prefer to make bank wire transfers to withdraw their profit.
The smallest amount permitted for making a withdrawal to a bank account is two hundred dollars. The withdrawal fees will vary based on the bank selected by the trader. The amount is usually credited to the bank account two to five business days after the withdrawal request is made. XM may process the bank withdrawal requests more slowly. The longest period of XM bank wire transfer withdrawal was 5 days in my last 8 years.
XM fund safety
To keep their clients’ funds, the forex traders safe, XM takes all measures to prevent unauthorized access to their information systems. All the funds of their clients are segregated and kept with the most reputed banks worldwide. Additionally, XM is also offering negative balance protection to their clients. XM has a risk management system implemented, which will ensure that the trader’s loss will be limited to the amount deposited with XM only.
Forex trading without any deposit
Many people are interested in forex trading yet do not have the money to take the risk. However, it is still possible to get some experience in forex trading without making a deposit.
XM no deposit bonus
To encourage people who are curious about forex trading, XM offers a $30 no deposit bonus to all those who create a new account with XM. This allows the new trader to take the risk of trading without risking his own money. The amount is directly credited to the live trading account and helps the trader understand market conditions.
XM demo account
XM also allows new traders to create a demo or virtual account to trade in forex with virtual money. The trader will be given $50,000 in virtual money for each account created, which he can use to trade, become familiar with the features, and test strategies. A trader can create any number of demo accounts to practice trading. If the demo account is inactive for a long period, it will be deleted immediately.
How do I withdraw my money?
If you deposited by debit of credit card then your initial deposit will always be refunded back to your card first. Once you have received your initial deposit back you can withdraw profits any way you want.
If you deposit by any other method you can withdraw any way you want (you to the maximum allowances)
To add a withdrawal method please follow these steps:
Visa/mastercard
1. Go to wallet-my credit cards- add a credit card.
2. Enter the last 4 digits of the card you deposited with.
3. Enter your password and click submit.
Zelle/ cash app/ paypal
1. To add a zelle/cash app/paypal address, please go to wallet- online payment methods- add an online payment method.
3. Enter your password and click submit.
Bank account
1. Go to wallet- my bank accounts- add bank account.
2. Enter the bank account details.
3. Enter your password and click submit.
Now you have added your withdrawal method(s), you can process a withdrawal.
1. Go to wallet and click withdrawals.
2. Enter the amount you want to withdraw and click submit request. The minimum is $50
3. Select one of your withdrawal methods from the drop down list.
4. Enter your password and click withdraw
5. You will see its now processing as it will be in the list above
6. If you have requested a bank wire, please now send an email to support@fairforexfx.Com stating which wire service you require. We send wires on same day for $35, next day for $10 and in 3 days for $5. International wires cost $45. Please note that these are the charges we are charged by the bank NOT fair forex charges.
Withdrawals requested before 12pm PST (which is 3pm EST) are processed the same day.
If we receive your request after 12pm PST then we will process the request on the next working day (excluding weekends and bank holidays). Card refunds can take up to 10 working days.
Deposits & withdrawals
At FXTM, making deposits and withdrawals is simple and straight forward and hardly takes up any of your time. We are constantly striving to offer you even more deposit and withdrawal options and to make the process even easier. If you have any queries just contact our client support team.
| Credit cards | deposit method | currency | fees / commission | processing time | deposit funds |
|---|---|---|---|---|---|
| visa | EUR, USD, GBP | no commission | 2 hours | fund | |
| mastercard | EUR, USD, GBP | no commission | 2 hours | fund | |
| maestro | EUR, USD, GBP | no commission | 2 hours | fund |
| E-wallets | deposit method | currency | fees / commission | processing time | deposit funds |
|---|---|---|---|---|---|
| paypal | GBP , USD , EUR | no commission | instant | fund | |
| VIP skrill / moneybookers | EUR, USD, GBP, PLN, CZK | no commission | 2 hours | fund | |
| VIP neteller | EUR, INR, USD, GBP, PLN, NGN | no commission | 2 hours | fund | |
| western union quick pay | USD | no commission | 24 - 48 hours** | fund | |
| dotpay | PLN , EUR | no commission | 2 hours | fund |
| credit cards | withdrawal method | currency | fees / commission | processing time | withdrawal funds |
|---|---|---|---|---|---|
| visa | EUR, USD, GBP | 2 EUR/ 3 USD/ 2 GBP | same business day*** | withdrawal | |
| mastercard | EUR, USD, GBP | 2 EUR/ 3 USD/ 2 GBP | same business day*** | withdrawal | |
| maestro | EUR, USD, GBP | 2 GBP/ 3 USD/ 2 EUR | same business day*** | withdrawal |
| E-wallets | withdrawal method | currency | fees / commission | processing time | withdrawal funds |
|---|---|---|---|---|---|
| paypal | GBP, USD, EUR | 2% | same business day*** | withdrawal | |
| VIP skrill / moneybookers | EUR, USD, GBP, PLN, CZK | no commission | same business day*** | withdrawal | |
| VIP neteller | EUR, INR, USD, GBP, PLN, NGN | no commission | same business day*** | withdrawal |
When an account has been deemed inactive (no trading activity) for a period of 6 months, we will apply an inactivity fee of 5 EUR/ USD/ GBP.
Please note that a processing delay may occur for your transaction in case of a request for additional information or evidence as part of FXTM's due diligence & regulatory procedures. FXTM is not liable for transactional delays in case such information and/or evidence is not received on time.
In case of no trading activity, or if any form of abuse is found relating to the reimbursement policy, FXTM reserves the right to reclaim any reimbursement fees. If you request to withdraw your funds after no trading activity, FXTM reserves the right to charge you the equivalent amount of any banking fees incurred, or 3% of the total withdrawal amount.
** your deposit may take up to 5 business days in the unlikely case that forextime is unable to verify your information or your funds have not yet been received to the forextime account.
***provided that you have submitted all relevant documentation requested by FXTM (if any) by that same business day. Moreover and as in regards to CC withdrawals specifically, the funds will be posted to your bank account within 3-5 business days of being processed by us. Should you encounter any delays after the provided time-frame please contact us in order to investigate it.
All back office transfers are processed during standard business hours, i.E. 08:00-18:00 GMT+2 (GMT+3 DST), mon-fri.
For further regulatory information as regards the payment service providers please click here.
For information about transfers between your trading accounts please visit our internal transfers page.
Policies & regulation
Policies & regulation
FXTM brand is authorized and regulated in various jurisdictions.
Forextime limited (www.Forextime.Com/eu) is regulated by the cyprus securities and exchange commission with CIF license number 185/12, licensed by the financial sector conduct authority (FSCA) of south africa, with FSP no. 46614. The company is also registered with the financial conduct authority of the UK with number 600475.
Forextime (www.Forextime.Com/uk) is authorised and regulated by the financial conduct authority with license number 777911.
Exinity limited (www.Forextime.Com) is regulated by the financial services commission of the republic of mauritius with an investment dealer license bearing license number C113012295.
Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.
Regional restrictions: FXTM brand does not provide services to residents of the USA, mauritius, japan, canada, haiti, suriname, the democratic republic of korea, puerto rico, brazil, the occupied area of cyprus and hong kong. Find out more in the regulations section of our faqs.
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To answer this question, you need to understand how the trading market works. Forex brokers (dealing centers or dcs) are such licensed companies that provide traders with professional services for access to trade in the international currency market. The success of work on forex depends on the right choice of a dealing center.
Therefore, you should give a preference to a reliable and experienced broker with a variety of trading instruments. The company should have a long history of completed foreign exchange transactions. But how to choose the best forex broker for withdrawal?
How to choose the best forex broker for withdrawal?
Choosing a broker for trading on exchanges should begin with collecting information about successful transactions and openness in working with clients. A reliable broker has its portfolio of deals, a large number of reviews from customers.
The simplest way is to check the published lists of traders, which are continually changing and updated. The trader with the most reviews will offer some of the safest working conditions. We also recommend paying attention to how the process of registering and depositing money with a particular broker is going.
- Forex broker license
The presence of a broker license allows you to judge his conscientiousness and honesty in his approach to trading. A licensed broker is more likely to complete all transactions and also carries them with benefits not only for himself but also for the client.
But to obtain a license from well-known world communities or government agencies, a broker needs to try hard and earn a positive reputation. If you see that an unknown office located on a distant island issued the permit – you should avoid working with this broker.
- Forex brokers rating
On the internet, you can find several independent from each other ratings of popular brokers. You can sort them by the number and quality of reviews, working hours, and other essential parameters. We recommend you to pay attention to the number of completed transactions, the regularity in payments to customers, and not to leverage or the promised interest.
Top 10 forex brokers
| broker | info | bonus | open account |
|---|---|---|---|
| min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec | 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. | Visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC | $100 no-deposit bonus, 100% deposit bonus | visit broker | |
| min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize | “50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program” | visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN | 35% of the account deposit | visit broker | |
| min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA | visit broker | ||
| min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202 | visit broker | ||
| min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK | visit broker | ||
| min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC | visit broker | ||
| min deposit: $10 spread: leverage: regulation: cysec | - | visit broker | |
| min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec | visit broker |
In general, do your first steps in trading with the help of brokers with caution, trading on small amounts. Hence the preference in favor of traders with work experience and safe conditions.
- How do brokers earn?
Usually, brokerage support in the foreign exchange market is not free. And dealing companies, like traders, have some financial interests. How do they earn? Providing comprehensive support for trader transactions, such agents get income that makes up the difference between the purchase/sale prices of traded currency pairs (spreads).
Or they receive direct payment from the trader for each trade transaction conducted. Depending on the chosen scheme of work, a brokerage company can only get commissions or have additional sources of income.
- Reliable forex brokers
How to find a dealing center to which you can safely entrust your trading operations? One of the surest ways is to choose a broker on the recommendation of traders already working with them. Numerous ratings will also help ease the choice.
They publish information on the most successful and reliable forex brokers regularly. Besides, remember about such vital points as the transparency of the information provided on the dealing company activities. Check the legal documents and the availability of client support, working 24/7.
Three categories of brokers
In the modern foreign exchange market, there are three leading categories of brokers.
- Classical (most expensive) intermediaries work in the full-service format. They provide clients with a full range of services – from receiving orders to legal support of accounts.
- Discount dealing centers (discount broker) put the orders to the forex market. As payment for their work, they receive a monetary reward in the form of a percentage commission.
- Electronic or online brokers specialize in online transactions and have been extremely popular lately.
Withdrawal process in different brokers
How to withdraw money from your trading account? Every trader should ask himself this question when signing a service agreement. Let us talk about the withdrawal process on forex.
Why does a trader come to the forex currency market? Generally, not for fun, but profit. For this purpose, you study the basics of technical analysis, try various trading strategies, and read a lot of information. Finally, you achieved the result – profit. And the most critical question arises – how to get your hard-earned money?
How to withdraw money on forex?
The problem is that many traders choose brokers to trade without getting known how to get your earnings back. Many brokers have enormous commissions, and it may be that you did not even know about them. Let’s talk in more detail about how to withdraw money from a forex broker trading account.
What to do before opening a real account
Before you open a real deposit with a chosen forex broker, you should inquire about what conditions the broker withdraws the earned profit.
As a rule, money is available for withdrawal only after passing the verification procedure.
At the same time, verification can have several levels, on each of which you will need scans or photos of identity documents. Naturally, during registration, to avoid further problems, you should indicate your real last name and first name.
It is highly advisable to do the verification procedure before depositing funds. The requirements of a forex broker regarding the quality and quantity of necessary documents can seem needlessly strict to you. In this case, nothing stops you from changing your company before starting a financial relationship with it.
As a rule, there are no difficulties with verification. Most forex brokers request a standard set of documents: a passport scan and the confirmation of the address of your residence. After completing the verification, you only have to choose a suitable withdrawal method.
Most companies have a bonus program. Carefully read the terms of granting this bonus. Some bonuses limit the withdrawal of profits or even make it impossible without losing the reward.
Most popular ways of withdrawal
The methods for withdrawing profits, as well as the timing of this procedure, are different for each forex broker. For example, big companies withdraw money only to a bank account. Naturally, everything goes officially, including the income tax for individuals.
Dealing centers and brokers do not limit their services only in this way but offer many more ways to get your profits – from electronic payment systems to cryptocurrency. That is why you should choose a broker that uses the withdrawal method most convenient to you.
- Electronic payment systems
Most companies allow you to withdraw profits on electronic wallets of the most common payment systems. The leaders are paypal, skrill, and neteller. When choosing a payment system, be sure to check how much money you will lose when withdrawing profits. For example, neteller has a commission of 1% (no more than 11.41 USD or 10 EUR) and a fee of 1.39% of the withdrawal amount.
At the same time, pay attention to the timing. The withdrawal may take from several business hours to several business days – this will be indicated on the broker’s website and in the contract.
- Withdrawal to a bank account
This method is not so popular among ordinary traders. The commission charged in this case is slightly higher than when withdrawing funds to the same card using the chain trading account – electronic payment system – bank card. It is especially true if the country of residence of the trader and the broker’s country are different. In some cases, for citizens of other states, this method is generally not available.
The timing of the withdrawal of money also decreases the popularity of this method. Unlike electronic payment systems, it can take from 1 to 7 banking days. Nevertheless, many traders with a substantial profit (several thousand dollars) use this system. For such traders, it is not the waiting time that matters, but its maximum reliability.
- Forex brokers cards
The trend of issuing payment cards by brokers gains popularity. Each company names them different, but they are the same – an international mastercard. This method has many advantages. Using a mastercard, you can withdraw cash at any ATM, pay in stores, make purchases on ebay or amazon.
However, the most significant benefit is different. Brokers open their cards in the offshore zone. And the law of their native state doesn’t regulate them.. Therefore, if your profit from forex trading has reached a grandiose size, this method will be most profitable.
But there are some drawbacks. The issuance of such a card is not free, and the broker also charges a card maintenance fee. Therefore, if your profit is not too big, there is no reason for using it.
Conclusion
As you see, choosing the best forex broker for withdrawal is a quite complicated task. First of all, you should determine your needs and the most convenient withdrawal method for you. And only then you can start looking for a broker.
You have come to the foreign exchange market with serious intentions to make money. So the question of money withdrawal should interest you first of all. After all, the goal of a trader is earning, and not to deposit money on a forex broker account.
FBS fee for deposit and withdrawal
FBS is one of the top foreign exchange (forex) trading websites with millions of users worldwide in almost all countries. Since forex traders are depositing, withdrawing large amounts in or from their forex account and have slim margins, one of the considerations while choosing the deposit or withdrawal method is the FBS fee for each method. Traders should be aware that FBS is offering users more than 50 different methods for depositing or withdrawing money from their account for the convenience of the forex traders from different countries. For some payment methods, the trader is also reimbursed part of the amount deposited. Hence the FBS fees for some of the more popular payment/withdrawal methods are discussed.
If the trader deposits money via credit card, FBS doesn’t charge any fee. FBS fee for credit card deposit is zero dollars. For each withdrawal, the FBS fee is $1. So FBS charges $1 for 1 withdrawal attempt using a credit card.
A credit or debit card is another popular option for depositing and withdrawing money from an FBS forex account. Only cards from visa, mastercard, and maestro can be used. FBS does not charge any fee for the deposit and also does not reimburse any amount. The amount deposited is immediately credited to the forex account and can be used for trading. FBS will charge a fee of US $1 for each withdrawal request to the credit card. Time taken typically for processing the request is again 15-20 minutes; if there is any further delay, there may be a problem with the bank, and the user should check with the credit/debit card issuer.
Neteller, webmoney & okpay
Neteller is one of the most popular deposit methods on FBS since the trader is reimbursed 3.9% of the amount deposited. The amount is credited to the account immediately. For withdrawal, the fees vary from $1 to $30, and processing time for the withdrawal is usually 15 to 20 minutes, though it may take up to 48 hours for the withdrawal to be processed in some cases. Webmoney is another popular method for deposit/withdrawal at FBS since its reimbursement is 0.8%, and the account is credited immediately. The withdrawal fees are also 0.8%. FBS offers reimbursement of 0.5% on deposits and charges a fee of 0.5% on withdrawals. Like neteller, the deposits are immediately credited, and withdrawals take 15-20 minutes.
Skrill/bank transfer
Skrill is widely used in europe, and FBS does not charge for skrill deposits in the FBS account. However, its withdrawal fee is lower at 1% + $0.32, making it more affordable for forex traders trading in smaller amounts. The deposit and withdrawal times are similar to those for other electronic payment methods with an instant deposit, 15-20 minutes withdrawal. Bank transfer is an option for forex traders in all countries. However, the fees are usually higher at 30 euro for deposit and withdrawal. The time taken for the amount deposited to get credited to the FBS account is also longer at 5-7 days.
Other methods
Depending on the popularity in a particular country, forex traders can opt for other methods like safecharge, perfectmoney, yuupay, zaw forex services, sahib exchange, unionpay, fasapay, filspay, maypay, yandex money, yandex terminal, moneta RU, and 1pay. If multiple options are available, it is advisable to check the amount reimbursed and fees before choosing a particular method.
FBS withdrawal rate
FBS withdrawal rate is $1 for credit cards. FBS withdrawal rate for skrill is 1% + $0.32; for neteller 3.9%, for wire transfer from $25 till $50 (different for each country).
So, let's see, what was the most valuable thing of this article: to withdraw money from your forex account in 2021 is very straightforward in general but does require you to take few steps. I am explaining the process. At forex money withdrawal
Contents of the article
- Today forex bonuses
- Forex brokers with best money withdrawal options...
- Forex brokers with best money withdrawal options
- Choose the withdrawal option
- Submit your withdrawal request
- Wait until your fund is transferred to your bank...
- Forex brokers with best money withdrawal options
- Fxdailyreport.Com
- How to choose the best forex broker for...
- How do I withdraw my money?
- Brokers with fast withdrawals
- Forex brokers with fast money withdrawal 2021
- XM deposit and withdrawal methods in 2021
- How do I withdraw my money?
- Deposits & withdrawals
- Fxdailyreport.Com
- How to choose the best forex broker for...
- FBS fee for deposit and withdrawal
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