FBS Broker withdrawal tutorial
FBS withdrawal is the process you go through when you want to take out your profits from the online broker. The withdrawal process is quite as important as the deposit process. That is because the essence of trading in the first place was to trade and make money off trading. Thus, traders should be properly educated as to the way of getting their profits from their trading accounts. In this article, we want to show you how to withdraw your money with FBS and which methods are available.
Facts about the FBS withdrawal:
- Available methods are Credit Cards, Neteller, Sticpay, Skrill, PerfectMoney, and bank transfer
- There is a commission charge depending on the payment method
- Withdrawals are done in a maximum of 48 hours
(Risk Warning: Your capital can be at risk)
How to withdraw your funds from FBS
“How can I withdraw my funds from my trading account?” seems to be the question coming from many traders, especially the newbies. When it comes to withdrawing your funds from your FBS account, the process is not so complicated. However, there are some steps to take and some instructions to adhere to before you can get that done.
Below, we outline the steps that you have to take, and then some of those instructions:
- You can withdraw money from your account in your Personal Area. All you need to do is log into your trading account and go to the Dashboard. Go to “Personal Area,” the section that concerns all profile issues. Click on “Finances” in the menu on top of the page. Choose “Withdrawal.”
- Choose a suitable payment system and click on it. Specify the trading account you want to withdraw from. Specify information about your e-wallet or payment system account. If the withdrawal is via card, click on the “+” sign to upload the back and front sides of your card. You then type in the amount of money you want to withdraw. Please, ensure to click on the “Confirm withdrawal” button.
One good thing about FBS is that you need to have the ability to monitor the status of your financial requests in the Transaction History. So, you know the stage where the withdrawal request is at a particular moment.
Commission and fees for withdrawals
It is important to note that withdrawal commission depends on the payment system you choose. Some systems require commissions while some others don’t. We will go into detail when we speak about the payment methods.
Withdrawal process time also depends on the payment system, as we will explain further below.
How long does it take to process my withdrawal?
FBS processes all withdrawal requests on a first-come, first-served basis. As soon as the broker approves your withdrawal request, they send you the funds. However, the final time required to transfer funds to your account will depend on the payment method used:
Electronic payment systems withdrawals (such as Skrill, Neteller, etc.) should be credited immediately, but sometimes may take up to 30 minutes. However, the problem is that they may take longer sometimes.
In case you withdraw to your card, please, be reminded that, on average, it takes 3-4 business days for the funds to be credited. Withdrawals done via bank transfers or wire transfers are the longest. They are usually processed within 7-10 business days, and sometimes even longer.
FBS Broker withdrawal methods:
FBS provides traders with a variety of methods through which they can process their withdrawals from their trading accounts. The broker allows traders to use any card processors, electronic wallets, and even bank transfers. Those are some of the most diverse payment systems you will ever find from a forex broker. We outline each of them and their features below:
FBS allows you to make withdrawals through card payment processors – either debit or credit cards. They make use of the most popular card processors – MasterCard and Visa. However, these are not the only options available. There are also very popular providers such as Union Pay and Maestro. Nevertheless, we will quickly review how each of the card providers works with FBS.
The Visa payment system of FBS is facilitated by Cardpay, an Electronic Money Institution regulated by the Central Bank of Cyprus that focuses on online payment processing. Another firm that helps FBS process its Visa payments is Ecommpay. With headquarters in London, UK, Ecommpay is a payment service provider and direct card acquirer, providing institutions with APIs to facilitate payments. It is regulated by the Financial Conduct Authority (FCA) of the United Kingdom.
The Visa payments of FBS are available in EUR and USD. FBS charges $ 1 commissions for facilitating payments via Visa, and the payments are usually processed within a maximum of 2 days. However, it may take between a day and 7 days on the part of your bank for your money to get to you.
CardPay and Ecommpay are also the ones that facilitate FBS payment via MasterCard. Just as with Visa, the currency option available for MasterCard is EUR. This is not the best you can get, though, as there are many brokers that give you access to other global currencies – most especially the USD.
It takes FBS between 15 and 20 minutes to complete and process your payments made via MasterCard. At times, however, it might take up to 2 days. But that is the maximum. It may take your bank up to 5 to 7 days to, however, finally process the payment. FBS does not charge any commissions for withdrawals.
The wire transfer is made directly to a trader’s bank account. This option is available to traders who don’t have access to either the bank cards or the E-wallet options. Hence, the only thing they have left is to get the money withdrawn to their actual bank account. It is worth noting that FBS is one of the few forex brokers that go all out to ensure that they give this option to their traders as most brokers don’t offer it.
This is because the option of the bank or wire transfer is quite stressful and very slow. Even though FBS processes your wire transfer withdrawals in 48 hours, it takes at least 7 days or even more to get to you. The reason for that is the scattered and non-uniform banking system all over the world. Nevertheless, we have to admit that this is still the most secure payment method available.
Due to the lack of uniformity in the global banking system, electronic wallets have become quite popular in making international payments quite easier than was the case. We have to note that every serious forex broker must provide their traders with the option of an electronic wallet as it has become the most used option.
FBS allows only two (2) E-wallets on its platform, namely Skrill and Neteller. However, this is not the best. Many other brokers provide their traders with far more options as far as E-wallets are concerned. There are more E-wallet providers that facilitate payments all over the world. Other popular names include Perfect Money, WebMoney, GlobePay, FasaPay, and many others. Nevertheless, we will outline both providers that are available:
Skrill is a digital wallet provider enabling a range of online payment and money transfer services globally. It is registered under the company, Skrill Limited, a UK-based firm that is licensed as a Money Service Business and regulated by the Financial Conduct Authority (FCA). Skrill Limited is a subsidiary of the PaySafe Group.
Founded as far back as 2001 with headquarters in London, it today boasts of over 20 million customers. Skrill is one of the two E-wallets that process payments for FBS. FBS charges 1% +$ 0.32 commissions for Payments made via Skrill and the time period for payments is between 15 minutes and 48 hours.
Neteller is an e-money transfer service used to transfer money to and from merchants, such as forex trading firms, social networks firms. It can withdraw funds directly using the Net+ card or transfer the balance to its own bank accounts. Interestingly, it is also a member of the PaySafe Group just like Skrill.
Neteller also boasts of millions of customers who are spread across over 150 countries. Neteller is available via a web platform as well as a mobile application which you can download on both the Google Play Store and the Apple App Store. Its payment time is also the same as for Skrill.
There is also the service, RapidTransfer, a special program introduced by Skrill. Traders can use this if they desire very fast withdrawals, although they must be ready to pay the additional costs. The commissions are 1% + $ 0.3.
It is very important you note that you can withdraw funds from your account only via the payment system that you used for the deposit. This is already included in the Customer Agreement which the trader agreed to from the beginning of opening the account. While this arrangement might not always be convenient for the trader, it is aimed to benefit the trader as FBS wants to prevent fraud.
In some countries there are additional payment methods like the following:
Conclusion on the FBS Broker withdrawal
One of the hallmarks of a good broker is simplicity. The simplicity should apply to every aspect of its services, including such things as deposit and withdrawal. FBS is one such broker. Above, we outlined the simple FBS Withdrawal system. Overall, FBS is a trusted broker that guarantees to pay out the profits very fast.
(Risk Warning: Your capital can be at risk)