How to withdraw money on AXI – Withdrawal tutorial
Table of Contents
Undoubtedly, AXI lives up to your expectation of trading through a reliable and advanced online platform. However, the trading goals of different people can vary. For example, some people might want to lock in their investment for a long time. On the other hand, however, some people invest for a short period.
Irrespective of which category you fall in, there will be a time when you would want to enjoy the fruit of your investment. It is when you are earning high returns on your online trading. Even if you need access to your trading funds for any personal reason, AXI withdrawal is an easy task.
One can easily open his AXI trading account with the help of a licensed broker. It is one of the most reliable and stable online trading platforms. Even if you are an algorithm trader, you can depend on AXI for uninterrupted connectivity and minimum lag time.
To make use of your profits on AXI trading, the first thing that you have to do is withdraw money from your broker account. This task is like a piece of cake. The only issue here is those different brokers offer different withdrawal options. Also, most brokers let you have a free withdrawal, but some might charge a fee for the same.
However, you can still be relieved as AXI lets you withdraw your funds free of charge.
Is all this information confusing you? Well, don’t worry. We’ll have a look at the step-by-step process to help you with AXI withdrawal. But first, let us look at some information about AXI.
(Risk warning: 73.4% of retail CFD accounts lose money)
What is AXI?
If you are a retail or a professional trader, AXI might be the best choice for you. It offers forex and CFD trading to its clients so that they can tap the right opportunities at the right time. AXI originally began in 2007 as an Australian trading company. However, it has expanded its operations to a great extent by opening branches in London and China.
AXI predominantly played the role of MetaTrader broker. It has rebranded itself from AXITrader to AXI, enabling its clients to trade in foreign exchange, Bitcoin, indices, metal, and commodities. ASIC regulates AXI in Australia. On the other hand, FCA governs AXI in the United Kingdom. It aims to provide trading opportunities to the general public who do not have much experience in the market.
AXI is a trustworthy and reputed trading platform providing competitive trading options to people. All the experienced traders, as well as the beginners, can trade via AXI. It uses the MT4 platform to help people in trading. It is considered the best in the industry because it offers a user-friendly experience to traders. MT4 NexGen also improves the functionality of the website.
How to withdraw money on AXI?
(Risk warning: 73.4% of retail CFD accounts lose money)
If you think it is the right time for AXI withdrawal, you can help yourself in the following way:
- Log on to the client portal at AXI.
- When the client portal appears on your screen, click on the withdraw funds option. This option appears on the left-hand side panel. You can choose the available withdrawal method for your account.
- You need to enter the amount you want to withdraw and describe the reason for withdrawal if prompted.
- Finally, submit your AXI withdrawal request.
If it is the first time you are withdrawing money, AXI will ask you to submit your bank account details. You will also have to upload the most recent bank statement for verification purposes.
If it is a bank transfer that you are using to withdraw your funds, you can add bank account details by clicking on the bank accounts option. Then, you can choose ‘New bank account.’ Then, you can enter your bank account details on the portal. AXI will also prompt you to attach a copy of your bank statement. You can upload your bank statement easily on the portal after downloading it from your respective bank server.
A trader must note that the withdrawal method on AXI should be the same as the deposit method. However, if you deposit on the trading platform using your Visa or Mastercard, it is an exception. It is because AXI processes your withdrawal within two business days after verifying your bank statements.
If you are confused about choosing an option for AXI withdrawal, a bank transfer is the most common option. All the major online trading platforms support withdrawal through bank transfers. It holds for AXI as well. Additionally, you can also choose the option of a credit or debit card. Not all platforms support fund withdrawal through credit or debit cards. So, if you are trading on AXI, it is a plus point. You may withdraw any amount out of the available funds. This amount gets transferred to the accounts or cards in your name.
As we said before, it is an easy task to withdraw your funds. All you need to do now is initiate a withdrawal request. After this, you can sit back and watch the amount get credited to your account.
(Risk warning: 73.4% of retail CFD accounts lose money)
Is it possible for you to withdraw funds to a third-party account?
If you are thinking of withdrawing your AXI funds to a third-party account, you might want to rethink it. AXI puts the interest and the security of their client on the top. It is why it does not allow you to withdraw your funds to a third-party account. You can transfer your funds only to the bank accounts or credit/debits associated with your name. It takes the utmost care to reverse the funds only to the bank account of the rightful owner.
How to submit withdrawal requests when you have open positions?
When you make a withdrawal request, the amount will automatically reduce your equity. It will render you incapable of using the amount to cover your open positions. Therefore, you should calculate this figure carefully before submitting a withdrawal request. Calculating this amount in advance will help you ensure you have sufficient funds in your balance for other purposes. Managing your margin and risk is entirely your responsibility. AXI cannot help you if your existing trades closeout because of insufficient funds due to withdrawal.
Which payment modes can you use to withdraw funds?
Following is a list of payment methods you can use to withdraw your funds from AXI
(Risk warning: 73.4% of retail CFD accounts lose money)
Bank transfers
You can update the details of your bank account on AXI. When you submit a request for AXI fund withdrawal, you can opt for receiving the funds in your bank account. If you want to add another bank account, you can do it from the client portal.
Debit and credit cards
AXI supports withdrawal on your Visa or Mastercard. You can add the details of your Visa or Mastercard to your AXI account. If you want to avail yourself of this option for AXI withdrawal, you can select it while submitting the request.
However, you should note that your funds will be transferred to you only if the debit/credit card operates in your name. Currently, AXI does not support the transfer of funds to debit or credit cards.
E-wallet
If you want to receive your payment in your e-wallet, make sure to select this option for your fund withdrawal. The only point to note is that you should have deposited funds from your e-wallet. Only then can you opt for fund withdrawal to your e-wallet.
Internet banking
You can get your fund transfer through internet banking also. However, this option is available only for specific areas. You can look upon the AXI website to know if you fulfill the criteria of using internet banking for your withdrawal.
Crypto payments
If you have invested funds on AXI through cryptocurrency, you can avail yourself of the option to withdraw funds through crypto. When you use this option, you can increase your crypto balance. In addition, you can also use cryptocurrency to deposit AXI again.
Payment mode | Availability |
Bank transfers | Yes |
Debit/credit cards | No |
Internet banking | Yes |
Wire transfers | Yes |
e-wallets | No |
(Risk warning: 73.4% of retail CFD accounts lose money)
Fees involved in AXI withdrawal
Depositing money into your brokerage account is usually free of charge on all online trading platforms. However, withdrawing money from your account can sometimes involve a small fee. It is because it involves international bank transfers and wire transfers usually.
Before submitting any request for your fund withdrawal, you must cross-check if there is any fee applicable to the same. If you don’t do this, you might end up paying a huge part of your earnings as the withdrawal fee.
However, when you trade with AXI, you can leave behind your fear of being charged with an enormous amount of withdrawal fee. The good thing is that AXI lets you withdraw funds through domestic banks or international ones free of charge. Yes, you read that right! AXI does not charge any withdrawal fees if you want to withdraw your funds through these two sources.
It is another good reason why you should start trading with AXI today.
If you would like to withdraw through the medium of your debit or credit cards, you should be aware that AXI charges a 3% fee. The same fee percentage is also applicable to the amount withdrawn over the monthly limit of US$50,000. The payments that do not cross this limit are eligible for free withdrawal as all the bank transfers.
Let us get an idea about AXI withdrawal fees from the below table.
Mode of Withdrawal | Charge |
Domestic bank withdrawal | Free of charge |
International bank withdrawal | Processing fee of US $20-30 |
Debit/credit card withdrawal | Not available |
How long does it take to receive AXI withdrawal after requesting the same?
After you submit a withdrawal request, you will have to wait for one or two business days for the funds to process your request.
(Risk warning: 73.4% of retail CFD accounts lose money)
How long will my withdrawal be pending on AXI?
All the withdrawal requests on AXI get processed within two business days. However, the withdrawal duration varies depending on the withdrawal method you choose. For example, if you opted for a bank transfer, you might have to wait for 3-5 business days to receive funds into your bank account.
Choosing to withdraw through your e-wallet can deliver quick results. Your funds get credited into your e-wallet as soon as AXI processes your request. Using the option of Internet banking might take up to three days for AXI withdrawal.
Problems encountered while making a withdrawal request
It may be easy to raise a withdrawal request on AXI. But, there are some problems that you might come across while making a withdrawal request. So, let us look at those problems and their possible solutions.
Third-party withdrawal request
Do you want to get a fund withdrawal into the bank account of any third party? In other words, do you want to get your funds into the bank account of a person that is not you? Well, it might be a problem because AXI does not support fund withdrawal into the bank account of a third party. It is only for your safety that you withdraw the funds into your bank account. AXI will release your funds only in the bank account that is in your name. Therefore, you can update your bank account details at the client portal to get your funds released.
Requesting withdrawal into your expired debit card
Sometimes, the debit card you used for funding your trade may have expired. In such a case, it will not be possible for you to get your AXI withdrawal into that card. So, you can submit your withdrawal request through bank transfers or the Internet banking method, which is available on your client portal. If it is your first withdrawal, you can add your bank account details to your account. You may also need to upload your bank statement so that AXI can use it for verification purposes.
Theft of your debit card
Have you lost the debit card that you used for funding? Did somebody steal it? If so, don’t delay contacting the AXI client service to remove the card from the system. Even if your card gets a new expiry date, you can get in touch with the client service to update the new details of your card. You can contact them through live chat, phone, WhatsApp, email, or any other mode specified on AXI support.
(Risk warning: 73.4% of retail CFD accounts lose money)
Minimum deposit into your AXI account
You need not worry about depositing any minimum amount into your account. You may deposit any amount of funds into the AXI trading platform as there is no minimum deposit requirement. However, you need to be careful about maintaining a minimum amount to cover the margin requirements of your trades. Therefore, it is advisable by AXI that you deposit a minimum of US $ 0.
AXI review:
AXI is the best online trading platform available in the industry. It has low forex fees, and usually, its withdrawals are free of charge. Both experienced and new traders can open their accounts on AXI without any difficulty.
Opening your AXI account only requires one sign-up by filling in your personal information and selecting the type of account. After this, you can help AXI verify your identity by uploading your valid identity card. AXI is available in multiple languages. So, you can customize your AXI screen according to your convenience. Then, you can select a language of your choice to start trading on AXI.
There are numerous options when selecting a mode of funding. The case is the same for AXI withdrawal. It also offers its client a user-friendly interface. In case of any trouble, one can get in touch with the AXI client support without much problem.
Conclusion: Fast and simple withdrawal options
AXI is the top choice of traders because it offers free withdrawals to its clients. Furthermore, it is easy to trade on AXI because of its user-friendly interface. Therefore, being a beginner or an experienced trader does not matter. You can sign up on AXI and avail yourself of the best trading experience.
AXI undoubtedly offers its clients the best services. AXI offers multiple withdrawal options to its users. It makes it more convenient for AXI clients. There is almost no fee for making withdrawals through AXI. It is free of charge and thus tempting to start trading on this online trading platform.
(Risk warning: 73.4% of retail CFD accounts lose money)
FAQ – The most asked questions about AXI withdrawal :
How can I withdraw funds from AXI?
You can withdraw funds from AXI by clicking on the client portal. After that, you can select a mode of withdrawal. Then your withdrawal will get processed through the medium that you selected.
Will AXI process my refund into my bank account?
AXI will process your refund into the medium that you select. If you want your AXI fund withdrawal in your bank account, you can choose it from the client portal. If you select Internet banking or wire transfer, your funds will reach you through the same. You can also withdraw your funds through your e-wallet. However, the bank account and the e-wallet should indisputably belong to you.
Is AXI trustworthy?
When you start trading on AXI, you will have the best trading experience of your life. AXI is reputed for its trustworthiness and goodwill in the market. It is the most trustworthy online trading platform helping traders fetch good returns on their investments.
Is making an AXI withdrawal similar to withdrawing from an ECN account?
AXI, an Australian forex broker, offers Pro Account customers tight spreads, just like an ECN broker. You may access 140+ currency pairs using the MT4 platform for forex trading, with a $0 minimum deposit, quick execution, award-winning customer care, and other CFD products, including virtual currencies like Bitcoin. Hence, the withdrawal experience is similar to that of an ECN account holder.
How long does it take to process an AXI withdrawal?
Most of the AXI withdrawal transactions get settled between 1 to 2 business days. However, at AXI, a trader might not expect same-day receipt of funds due to the lag in the processing time. The lag is subjective, depending on the kind of bank the trader’s account is linked to. The processing time can vary, with international transfers taking 2 to 5 days.
Can AXI put your withdrawal on hold?
Yes, if the bank details are inappropriate or the transaction from the bank’s end takes longer, the withdrawal can be on hold. Apart from these situations, if a trader wishes to transfer the profit funds to another user or their other account, which is not linked with the AXI broker, the transaction can be on hold.
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Last Updated on January 27, 2023 by Arkady Müller
