How to deposit or withdraw Funds from a Forex Trading Account?
Funding a Forex trading account, withdrawing money, managing your investments, with the help of a broker, is quite straightforward. To replenish your trading account opened with a broker or withdraw any money from it, you need to use one of the following methods:
- Perfect Money
- Crypto wallets
- Visa Card
- Master Card
- Wire Transfer
- …… and many others
The funds are credited to your trading account, and the funds are withdrawn within 24 hours with most of payment processors. However, in some cases, payment can take from several hours to 24 hours. Usually, a broker does not charge any fees for bank transfers, and the commission is set by the client’s bank and the corresponding bank. Clients who replenished their account with a card have the opportunity to withdraw funds only for the amount deposited by that particular card within the last six months or one year, depending on the processing.
Some brokers have a loyalty program that compensates commissions for its clients on deposits from 1000 USD but this does not apply to currency conversion cost. Please note that the deposit may be debited in a currency other than the money indicated in the payment form at the time of payment. Consequently, your bank may charge a currency conversion fee. The difference between the deposited amount and the amount sent can be caused by the difference in the exchange rates at the time of the transaction and at the time of the deposit.
Below is a quick procedure and forex deposit methods for depositing funds to the trading account:
- The broker asks you to always indicate your account number, surname, and first name in the payment comments. This will allow the broker to transfer the received funds to your trading account as quickly as possible.
- Please note that only the owner of the trading account can transfer funds. A broker does not accept money transfers from third parties.
For more information, you should contact the customer support team through email or live chat.
How to withdraw funds from the trading account?
The procedure for withdrawing funds from the trading account is as follows:
- Submission of an application for withdrawal of funds is carried out from the Personal Account
- With two or more active requisites, the withdrawal is made to any of the selected requisites in proportion to these requisites’ replenishment amounts.
- Funds can be withdrawn to a bank account only after replenishing a trading account through a bank.
- When withdrawing funds to your bank account, mostly no commission is charged and will depend solely on the receiving bank.
- Withdrawal of funds is carried out within five banking days from the moment the company receives an application from the client and depends on the payment system chosen by the client to withdraw funds.
- If no trading and investment operations have been carried out, the withdrawal is carried out as a refund.
- For payment systems where the commission for deposit/withdrawal is 0%, an additional commission may be charged in case of leave without trading.