How can i recover my lost money from forex

How do I go about recovering money from a forex scam?
How can I recover lost funds online?

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How I Recovered my Lost Money from Binary Options and Forex, how can i recover my lost money from forex.

Can I recover my lost funds in the binary options scam, forex scam, bitcoin scam, etc.?
I lost money in forex, what I will do to get them back?
What is the best way to recover the money I lost to a scam broker in europe?
How do I recover money lost to forex scams in europe?
How can I recover my lost money from forex?
How can I recover money lost on binary options
how to recover stolen cryptocurrency
how can I recover scammed bitcoin?
How to reclaim crypto
I got scammed bitcoins I have had some very bad experiences in scams in both binary and forex. I have lost over one hundred thousand dollars USD forex brokers on a number of websites:

How I recovered my lost money from binary options and forex

Sazzad islam siuz

May 1, 2020 · 3 min read

If it is your disaster day, then stop your trading fantasy right now. Don’t make it worse than worst and prevent yourself stressful in that much. It will lead you down the wrong path and will become mentally exhausting. If you got yourself angry, then stop being that, usually people get attached by emotional behaviors’ such as being insistent against an opponent.

I have had some very bad experiences in scams in both binary and forex. I have lost over one hundred thousand dollars USD forex brokers on a number of websites:

Optionbi t trading, vix500, SL trades/forex price, IQ option, plus500.

I tried getting some of it back through legal means (I got all I could through credit card providers) but it was nothing compared to what I had lost. I later saw some stories of successful recoveries through bitcoinbinaryoptionsreview.Com and I followed suit. Surprisingly, they recovered all of it within 2 weeks and the balance came in the week after. I was very pleased with their level of delivery and urgency.

Believe me, 99% of cases you will lose more money if you don’t have a change of attitude on your bad day. You have to understand that the market is not a place like an apple tree in its season, your job is just to grab it and pick on your basket. Often people lose money, so bad days come up. In this case, a wise person makes himself cool and stop giving more shits to the market. No matter which currency he’s trading and finds the best way to forex trading.

Knowing what went wrong and correcting strategies is a sign of a resilient trader. For any new trader experiencing a big loss, the key is being knowledgeable and tough in the face of adversity. With the right lessons, you can emerge from your losses and become a better trader in the future.

Other frequently asked questions about funds recovery

How do I go about recovering money from a forex scam?
How can I recover lost funds online?
Can I recover my lost funds in the binary options scam, forex scam, bitcoin scam, etc.?
I lost money in forex, what I will do to get them back?
What is the best way to recover the money I lost to a scam broker in europe?
How do I recover money lost to forex scams in europe?
How can I recover my lost money from forex?
How can I recover money lost on binary options
how to recover stolen cryptocurrency
how can I recover scammed bitcoin?
How to reclaim crypto
I got scammed bitcoins

I have great news for you — if you have lost money and need answers to any of the above-listed questions or related questions, get in touch with a professional funds recovery expert for help.

5 guaranteed ways for forex scam fund recovery!

Home » forex scam fund recovery – 5 guaranteed ways to recover your lost funds from fraudulent forex brokers

Are all forex brokers fraudulent?

Option #1: first of all discuss fund recovery possibility with your broker

It’s normal to get angry when you feel that broker scammed you. But, don’t contact your broker in a state of anger, instead wait for an hour or four or till you get calmer. Anger will throw you into the valley of mindless fury and in such state instead of finding a solution to your complaint, you will end up yourself in a more frustrating situation.

Once your calm down, prepare a detailed description with evidences like MT4 screenshots, trade logs, bank or transaction statements, etc. Which shows why you think that broker has scammed you.

After that contact your broker. It is best to handle the communication with the broker in writing – this way both parties can keep track of the issue and can monitor what has and has not been done. Here your objective is not to vent out your anger or to blame broker that they scammed you, your objective is to make broker understand your complaint correctly, and to collect more and more evidence from the broker about their explanation on your complaint. Also, ask broker to provide evidence supporting their explanation. For exa. – tick data in case of order execution or slippage or stop loss hunting related dispute, transaction evidence in case of withdrawal related dispute.

After broker’s reply if you are not convinced with it, then again explain them your reasons for not agreeing with them. Communicate at least 2-3 times and collect as many evidences of each communication as possible.

You need to give at least 4 weeks to your broker to explain their position.

Option #2: file your complaint at influential forex forums

Option #3: fund recovery by “CHARGEBACK” in case of card deposit

Option #4: contact broker’s bank or payment processing company whichever they used to receive your fund

Option #5: file a complaint with broker’s regulatory body

Ehren alscher

Ehren is a highly motivated and accomplished forex trader with over 8 years' of experience in forex trading. He worked with reputed forex brokers as a market analyst. He has done in-depth SWOT analysis of forex brokers and value added services. In his free time he likes to play tennis and chess.

Virtual Dealer Plugin - Are they used against Forex Traders in 2019

Ehren alscher | 8 min read

Ehren alscher | 5 min read

Ehren alscher | 9 min read

90% of your failure in forex trading is due to your forex broker!

Check a true ECN/STP forex broker to improve your trading result!

Risk notification: this website www.Dojiforex.Com is for informational purpose only. This website does not provide investment advice, nor it is an offer or solicitation of any kind to buy or sell investment products. Before deciding to trade forex or CFD’s, it is highly advised that you evaluate your financial position and deem if you are suitable to engage in trading activities. You must acknowledge that trading in such markets carries a high level risk. Any information or advice contained on this website is intended for educational purpose only and has been prepared without taking into account your objectives, financial situation or needs. You must make your financial decisions, we take no responsibility for money made or lost as a result of using information on this website. Past performance of any product described on this website is not a reliable indication of future performance.

How to get money back from forex scam – can you even get it back?

How to get money back from forex

Forex trading is one of the most famous forms of trading on the internet. There was a time in the past when you had to go to money exchanges to get a different currency for the currency you had. However, you can now trade fiat currencies from the comfort of your home, thanks to the online trading industry. When you trade online, you sign up with an online broker first. This broker gives you access to the forex market where you can see all the available currency pairs that you can trade. You can pick any currency pair and trade it with real money. You deposit this money into your online account through bank wire transfer, credit card, or some other method.

If you feel that you have been scammed by a forex broker trading scheme then you are welcome to visit our investment and trading scams page, for more information or visit our contact page to get help.

However, the fame of online trading has attracted many black sheep in the industry. You now have many online forex brokers that are not brokers at all. They are scammers in disguise you want to snatch away your money. Millions of people lose their money in the hands of these fake online brokers. And if you are one of them, you are also wondering how to get money back from forex scam. Can you get it back?

How to get money back from forex scam – getting it back is possible

If you are lucky enough, you can get your money back. Saying that you can’t get your money back at all would be wrong. As you continue to read, you will find out some methods that you can use to get the money back that you have lost in the hands of an online scammer. It won’t be wrong to say here that you have to be very lucky to get the money back. Even if you involve the police or some other intelligence agency, the chances of you getting the money back are very thin. You have to keep in mind that many of these online scammers have created their system after proper research.

They know how to deceive you and escape the system. They scam you, take your money, and disappear to never show up again. Not to mention, you never really know their real identities, and that’s why catching them becomes nearly impossible. However, things have changed in recent years. Today, the chances of you getting the money back have increased tremendously. Let’s discuss three methods that can help you get your money back from an online scam broker.

Methods to get your money back from forex scam

· calling your local police – very little chance

The first on the list of how to get money back from forex scam is the police. Yes, whenever you are scammed or you find yourself involved in a scenario where you have been deceived, you should get in touch with your police. That’s actually the best course of action you can take. However, your local police have some limitations. It cannot catch the thieves that are outside its domain of operation. So, if the broker is located in your country, there is still some chance that the police will get it. However, if the broker is located in some other country, you have nearly no chance of getting the money back from the scam.

· getting in touch with a regulatory authority – 50/50 chance

Now, you will be lucky if you sign up with a broker and get scammed, and then find out that the broker was regulated. If the broker that scammed you is regulated, you have some chance that you can get your money back. You just have to go on the website of the broker and find out which regulatory authority regulates it. After that, you just need to get in touch with the regulatory authority. You might find a contact form on their website or a phone number that you can call. You should immediately inform them about the mishap. You should tell them the name of the broker clearly.

If they have already gotten some complaints against the same broker, the chances are very high that they might even seal the website of that broker. However, such a perfect scenario does not happen every day. Why? Well, why will a scammer get regulated? Yes, in most cases, you are scammed by forex scams that are not regulated in the first place.

· getting help from money-back – very high chance

When you get in touch with money-back to file a complaint against an online forex scam, your chances of getting the money are very high. In fact, when you search how to get money back from forex scam after some years, money-back might be the only name you will find in your search results. Money-back has started only four years ago with its services. It has already served clients from many countries of the world with their issues with online brokers. The company has already dealt with more than a thousand cases successfully, which means the people who filed the complaint against the broker with money-back got their money back.

Why is the success rate of money-back so high in getting the money back from online scam brokers? Well, the company has been formed by a team that consists of professionals lawyers, psychologists, and industry experts. They have come together to form a team that not only knows how the laws that govern the online trading industry but also the tactics that make these online scammers give money back to the traders immediately.

Final thoughts

Just a few years ago, you could not have gotten your money back from the online scammers. If you searched for how to get money back from forex scam, you would have landed on the website of your local police after all. However, local police are usually not able to do anything when the scammer is located on the other side of the world. That’s where you need only digital police like money-back. These scammers are ready to give traders their money back instantly when they hear a lawyer on the phone, and when they know they will lose millions when the case goes inside the court. So, choose your online broker wisely, and your well-wishers even more wisely.

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How it works

Step 1

When you fall victim to one of these schemes and scams, you may feel powerless and helpless to get any restitution. Read more

Step 2

The first question that people ask us is what kind of services do we provide? In the 21st century when the internet has been capitalized all around the world you must have come across some kind of internet theft.

Step 3

We shall directly confront companies on your behalf, and get you the restitution you deserve. The best part is, the company provides you with a human point of contact throughout the process, so you can be informed by experts who are well versed in dealing with scams and accumulating important wins.

Step 4

If your money was taken by a scamming company, let us know and weвђ™ll get it back to you as soon as possible.

Our values

We help businesses and everyday people who have put their trust in the wrong corporations. Our goal is to hit back as hard as we can and rescue your investment.

Our help?

There are hundreds of way we can help you. You can consult us for free, maybe we can be your best hacker for hire too.Your social media account like facebook got hacked? You need a smartphone hacked or want to monitor your kids remotely? Need your email account recovered?

Our philosophy

When you fall victim to one of these schemes and scams, you may feel powerless and helpless to get any restitution. You may fear that your money may be gone forever, but fortunately, that’s not always the case. Indeed, there are ways you can get your money back. Read on below to see how you can recover your money and avoid scams in the future.

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“getting into forex didnвђ™t end with losing only my family savings, it ended with losing my family. When I understood it was all a scam, I felt devastated. With your help I got more than my money, you gave me hope for the future.”

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How to recover from forex losses is an issue which many traders suffer from, even pro traders who have hit a dry spell. The fact of the matter is that although trading forex is not exactly like gambling, there is always a risk of loss involved. The trick is to know how to recover from forex losses so you can get back on your feet, and that’s exactly what we are here to discuss today.

Tips to recover from forex losses

In order to recover from forex losses, there are a number of crucial tips which you absolutely need to follow. If you suffer big or consecutive losses in forex trading, panicking or throwing in the towel won’t do you any good at all. Here are some of the best tips to follow in order to recover from forex losses.

Don’t let panic set in

One of the most important tips to quickly recover from forex losses has to do with your own immediate response. The first thing you need to remember is not to panic. If you start to panic, it means that you are throwing all reason and logic out of the window, and that won’t get you very far. If anything, panicking and becoming emotional will only make things worse.

You need to use logic and reason, remain calm, and carry on. Losing a couple of big trades doesn’t mean you will lose everything, and giving up after some losses won’t help you recover them either. To recover from forex losses, the first rule is to remain calm.

Recover from forex losses by accepting it – it happens

The next tip to help recover from forex losses is to simply accept it. Yes, losing forex trades happens, to some more than other, but it happens to everybody. Thinking that it’s time to give up and throw in the towel due to a couple of losses is a sure-fire road to failure.

You also need to accept responsibility, and that in one way or another, there is no one else to blame for those losses. Being able to accept that losing trades do occur is something you will have to master to recover from forex trades. Dwelling on the past won’t get you very far at all. Losing happens and that is the bottom line.

Learning from mistakes – what went wrong?

The next step to help recover from forex losses is to analyze the loss and see what went wrong. Generally speaking, there are two types of losses, these being emotional and statistical. Emotional losses can occur due to your own over confidence, spreading your finances too thin, or from attempting to trade too much at once. Emotional trading is never the way to go.

The other type of loss is statistical in nature. This means that your loss could have been caused by a strategic or methodological error on your behalf. Therefore, to recover from forex losses, this type of loss, you need to be able to identify where your method or strategy failed. There is also the fact that no single FX strategy is always going to win.

Each strategy comes with a margin of error, and no matter how good your strategy is, there is always a chance that it will end up being a loser. Either way, being able to identify where and how you went wrong is essential to recover forex losses.

Correct your mistakes & make A plan

To recover forex losses, not only do you need to identify how and where you went wrong, but you also need to be able to correct your mistakes. For instance, if you know that the trading strategy or method you used has certain aspects which make it relatively weak and unreliable, it might be time to start using a new method or strategy. There might be one aspect of the strategy that needs tweaking, or you might have to change your whole set up.

The point is that to recover from forex losses, you need to remedy your mistakes. Simply continuing to trade and lose the way you have been won’t do anything to help your situation. However, if your loss was statistical, and you lost 1 trade out of the last 10, it could just be that one off losing trade. If the strategy has been working fine for the most part, to recover from forex losses, you might just have to remain confident in your winning strategy and carry on the same way you have been.

Recover from forex losses by using A demo trading account

Something that may help you to recover from forex losses is to try using a demo trading account. Go out and get some decent day trading software, unlock a demo account, and start trading. Demo trading accounts can be very useful because they allow you to test out various trading strategies with different signals.

It’s a good way to test your old method and if something was wrong with it, and it’s a good way to test out new strategies too, all without ever having to risk real money in the process. A good demo account is one of the best tools to help people recover from forex losses.

Educate yourself & develop better trading methods

Finally, to help you recover from forex losses, you may want to take some kind of trading course, such as the one offered by our own income mentor box day trading academy. The fact of the matter is that trading FX takes a lot of in depth knowledge and skill, and yes, there is always more to learn. Maybe the key to recover from forex losses is to simply become a more knowledgeable and skilled trader in general.

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Recover from forex losses – final thoughts

How to recover from forex losses is a topic you might still struggle with. If this is the case, we would definitely recommend joining the income mentor box day trading academy. It’s a great way to develop your skills and knowledge, and to learn about time tested trading strategies too.

How to recover from loss on forex and get back what was lost

The strongest people are those who faced defeat but didn’t give up.

Trader forums are full of stories from people who lost their money and quit forex. The authors repeatedly blame the market, a broker, or even fate, but the outcome of this will hardly surprise anyone: it gets them nowhere.

Mr phone myat naing is a remarkable trader from myanmar. He lost a substantial amount of money, but managed to get it back and continued to trade. Apart from trading he lives a full life, travels and loves spending time with his family.

We hope that you will enjoy this interview as much as we did and maybe even find something useful for your trading.

Let’s start with your background. Where are you from and what do you do for a living?

Hello everyone! My name is phone myat naing and I’m from myanmar. I grew up in a small city in the middle of the country and moved to yangon later on. For many years now I work for a german company as a sailor.

You have a very interesting day job, why did you decide to start trading on forex?

When I was visiting my uncle, I noticed how he locked his eyes on a computer screen that showed strange numbers and charts. I asked him what it was and he explained to me that it’s a currency market where people are able to profit from buying or selling one currency against another. I immediately got interested in it because it seemed to me like an easy way of making money.

So when you started you had no knowledge whatsoever? How did you prepare?

I started learning how to trade on my own and after a few weeks of casual studying I felt like I was ready for this. All that was left was to find a good broker, and I decided to choose FBS since it’s a well known brand and the customer support is quite responsive.

Thank you, it’s a pleasure to be your first choice. How about the trading instruments?

In the beginning I traded using expert advisor - martingale EA. It proved itself to be a good choice and I was happy with the profit it gave me which was about 100 USD per day. Until one day it misfired.

Exactly on my 30th birthday, the EA couldn’t keep up with the EUR/USD downtrend and I lost 4000 USD by margin call. I was shocked that my trading budget disappeared in a blink of an eye. It was my first and the last time losing such a large sum of money.

Unfortunately even EA makes mistakes, but in the end you managed to recover your lost budget. How did you cope with loss and what helped you start making profit again?

When it happened I was devastated. I ceased forex trading for some time but I didn’t give up. I started searching for the reason behind my defeat and studied forex more deeply.

I studied on forex websites, blogs, youtube channels and books. Once I even attended some offline classes but it was not as helpful as I expected. After studying forex for some time I decided to figure out how martingale EA works. It was the right decision because it helped me understand a few important things.

I lost because I didn’t understand the martingale EA system and how it’s written. In addition I didn’t take care of proper risk management, I naively thought that EA can only make profit but not loss. It was a big mistake to trade without almost any knowledge of forex.

Now my approach to trading has changed completely. I use both technical and fundamental analysis, candlestick chart patterns and rather than depending only on one martingale EA, I test different eas on demo accounts and chose those that showed the best results. But more importantly I started trading manually.

You have learned a lot about trading and EA, probably enough to create your own. Have you thought of trying yourself in this area?

Yes, I am a java programmer and I make android apps sometimes, so it wasn’t very difficult for me to learn mql4 language. I learned how to create EA with the help of my partner - dr.Kaung myat hpone htut. We created a lot of expert advisors together including EA that I’m using right now. It helped us make some handsome profit.

How did you meet your partner?

I was frequently writing posts about my forex EA trading experience on facebook and many EA users contacted me to exchange knowledge, my future partner was one of them. He asked about the EA I’m currently using, we met to discuss our experience and decided to work together.

As a result we created a lot of eas and even put some of them on the market. For now they require adjustment from time to time so that they stay flexible. But I don’t get passive income from this yet, I make money mostly by manual trading.

Do you use our VPS service? Traders who use EA usually find it useful, but what’s your opinion on this?

I didn’t even know at first that you provide VPS, I used to rent it for 20$ per year. When I found out that you can provide it for free I decided to try it. Of course, I compared it to the VPS I used at the time first. Turned out that FBS provides better VPS and I’m using it ever since, so I’m satisfied with the quality of the service. I even uploaded my personal documents there so I could have access anywhere around the world.

You have created EA, learned how to trade and successfully made profit from it. But there are people who won’t believe in this anyway. Why do you think some people think that forex is a scam?

People think that forex is a scam because they hear stories from those who lost their money. When in fact it’s important to understand why they lost. On my opinion it might happen because:

They don’t understanding margin call,

Disregard proper risk management,

Don’t get enough practice and knowledge.

But if you prepare, you can profit for sure.

Let’s talk about you. You have traveled a lot and seen many places, can you describe your adventures in just a few sentences?

My work requires from me to be 4 months onboard and 2 months on vacation. But I travel all the time both by plane and by sea. Since 2006 I have travelled to almost all the countries except north pole, it’s hard to summarize my experience in just a few sentences but I will try.

One month in guang zhou made me regret not learning mandarin.

New zealand is the most pleasant country, I would want to live there.

Japanese people are very punctual. Never miss a minute.

Europe is very beautiful but expensive.

Pirate attack in somalia gave me nightmares.

Russia is very cold but the girls there are beautiful.

Indonesia has beautiful islands, beaches and friendly people. Surabaya is the most beautiful and my best friend lives there.

Thailand is our kindred country, it’s not exactly foreign to me. I visit bangkok and pattaya almost every month.

In latin america you will hear amigo and gracias on every corner, very nice countries. I recommend to learn some basic spanish if you want to travel there.

The sand on rio de janeiro beach is the most beautiful I’ve ever seen. Although they speak portuguese in brazil, the accent is quite different from portugal and angola. I love to listen to their voices. Very sweet to my ears.

Korea is famous with fabulous movie stars and K-pop. I listen to metallica, but when I hear K-pop, it changes my taste in music for a moment.

In 2009 I spent a lot of time in arabic countries. Their culture is very inspiring and arabic women posses the most beautiful eyes in the world.

Vietnam has a lot of memories of war. Although I’ve been to saigon, I didn’t get the chance to visit the famous underground tunnels.

Once in a lifetime you should try turkish ice-cream and kebab. Their airlines are one of the best I ever used. And istanbul is a beautiful city, you will never be let down with what you are seeing.

Do you have any hobbies?

I always wanted to be a musician. I started playing piano in 5th grade, as well as few other instruments.

But fate had decided to make me a sailor. Nevertheless, wherever I go, I take an instrument with me to play it. And when I’m on vacation I play piano in a band and make some records.

And of course I love spending time with my family: my lovely son welle and my adorable wife chan.

How to recover lost money in an investment

Do I lose my shares if my broker goes bankrupt?

The FDIC insures most bank accounts up to $250,000.

Any time you make an investment, there's a chance you may lose money. This can happen from bad investment performance, your investment company going bankrupt, or outright fraud. When you lose money in an investment, you might be able to recover it, but it depends on why your investment went sour.

Investment losses

Investments are a balance between risk and return. Risky investments like stocks pay a much higher return than bank accounts. Unfortunately, these investments can also tank big-time. If you lose money from bad investment performance, you should reevaluate your current strategy. Were your losses from bad choices or were they from a market downturn? Stocks in general may sometimes lose money during a short period but make up the losses plus much more over the long run. If you think your investment choices are still sound, don't panic and wait for the market downturn to end. Your stocks should eventually rebound and recover your lost money.

Company bankruptcy

You can also lose money if your bank or investment firm goes bankrupt. The federal deposit insurance commissioner (FDIC) protects regular bank accounts. If your bank goes bankrupt, the FDIC insures up to $250,000 of your bank deposits. Contact the FDIC to reclaim your lost money. The government also insures brokerage accounts with the U.S. Securities investor protection corporation (SIPC). This agency insures covers you for up to $500,000 of funds lost to bankruptcy. Note that the SIPC only protects against your firm going bankrupt, not against your regular losses in the stock market. Unless you get an adrenaline rush from living dangerously, make sure your bank or brokerage are covered by FDIC or SIPC.

Inappropriate financial advice

Financial advisers like insurance agents and stockbrokers have a legal obligation to serve there clients properly. They are not allowed to recommend products that don't fit your situation. For example, a stockbroker should not recommend risky stocks to a retiree who cannot afford to lose money. If you lost money because you were misled into buying inappropriate investments, you can file a complaint with the securities and exchange commission (SEC) or FINRA, the financial industry regulatory authority. If these agencies agree with your claim, you may get your money back and your adviser may lose his license. Once again, this only applies against misleading or improper advice. If you ask for risky stocks and you lose money, you're out of luck and can't file a claim.

Illegal investment schemes

Investors also lose money from outright fraud. Criminals set up illegal investment schemes, like ponzi schemes, to steal money from investors. If you lost money from a fraudulent investment, you should contact a financial attorney. She will review your case and determine what options you have to recover money. You may be able to reclaim money from the criminals or the government may create a fund to return your money. Each situation is different and a financial lawyer helps you find the best solution.

What happens to my treasuries in the event my brokerage firm defaults? →

Distinctions between alternative & traditional investments →

FDIC vs. SIPC for money market funds protection →

David rodeck has been writing professionally since 2011. He specializes in insurance, investment management and retirement planning for various websites. He graduated with a bachelor of science in economics from mcgill university.

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.

How to Withdraw Money From Forex Broker - Withdrawal Options

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.