How to withdraw money on FxPro – A straightforward withdrawal tutorial
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No matter the reason you are investing your money, there will come a time when you may need to withdraw your funds from your trading account. Some users think withdrawing from a trading account is just like withdrawing money from a normal account. But the fact is, this can be a little different from what you are thinking.
Withdrawing money out of a trading account, especially a forex or CFDs trading account, can involve some extra steps. And the major reason behind this is the money is invested and will not be available as cash.
However, there are some online forex trading brokers who offer an easy way to get it done so that you can withdraw and use your funds whenever you want. And if you are looking for such a broker, you can always trust FxPro.
As per different reviews, the FxPro withdrawal process is very simple and fast. Go through this article to know everything about FxPro withdrawal, including duration, charges, possible issues that you can face and methods to withdraw funds, and more. But before diving deep into that, let’s know about the FxPro platform.
FxPro – A licensed and reliable broker
FxPro has emerged as a leading multi-asset platform that provides traders with more than 430 different tradable assets. Talking about the assets available on this platform, it includes Spot Indices, Futures, Spot Metals, Forex Trading, Spot Energies, and more.
The broker trades in different financial assets, and you can make profits by trading these assets wisely.
When choosing an online broker, it is important to check the regulatory status and the administrative body of the broker. Forex trading brokers who carry out trade without any regulatory body supervision do that at their own risk, and you can suffer from a huge loss.
Established in the year 2006, FxPro is a well-regulated broker, and FxPro’s activities and transactions are regulated by the FCA- Financial Conduct Authority, SCB- Securities Commission of the Bahamas, FSCA, and CySEC.
As the FxPro and the FxPro withdrawal process are regulated, the broker doesn’t manipulate the prices. When the traders send their funds’ withdrawal requests to the broker, their requests will be honored. And you can withdraw the minimum amount without dealing with any issues.
If the broker violates the rules related to depositing and withdrawing money, the status could be withdrawn by the regulatory authorities. So, you don’t have to worry about the withdrawal of your funds.
Some factors that make FxPro a trusted broker
Worldwide regulation
The broker is regulated and authorized to function across different jurisdictions. Millions of clients are using their trading services globally, covering 180 countries. Besides, this online forex and CFDs trading broker has managed to create a solid industry reputation. So, whether it is related to deposits or withdrawals, FxPro offers best-in-class services.
Better fund protection
No matter wherever the traders are in the world, the brokers keep the funds only with top-tier banks. These banks are completely segregated from FxPro’s assets. The broker never uses traders’ funds to conduct their business activities.
Impressive customer support
Various problems can arise during FxPro withdrawal, and such issues can delay the process. However, when you are with FxPro, there is no need to worry about this. The broker has a dedicated and professional customer support team who will resolve the issues instantly.
Their friendly and talented trading account managers always offer best-in-class services to all the clients, no matter whether they are professional traders or beginners.
Understanding how to withdraw money on FxPro
The process of FxPro Withdraw is quite simple. Here are some easy-to-follow steps that you need to follow to complete the process.
- First, you need to sign in to the FxPro trading account using your email ID and password.
- Now, go to the Wallet option and click on the Withdrawal option.
- Once done, a list will appear with the supported payment systems. Choose one based on your preference. All the withdrawals will proceed without any commission from the broker’s side.
- Choose the gateway and specify the total amount you need to withdraw.
- Then properly fill out the required details and follow the instructions on the screen to confirm your request.
- Once approved, you will get the money back into your bank account within a few days.
However, sometimes, FxPro may ask you to submit some piece of evidence to verify your identity. This is done to keep your account protected from unauthorized access.
Understanding the deposit and withdrawal of FxPro
At FxPro, initiating a deposit as well as withdrawal is very straightforward and simple. The broker has made the process simple so that you can spend more time on the market and explore more profitable trading opportunities.
As per the official site, FxPro is committed to providing users with secure and faster ways to fund their accounts as well as make withdrawals.
The broker also offers different types of funds transfer methods. What’s more? FxPro also accepts GBP, EUR, and USD. The best part is that the broker doesn’t have any withdrawal fees.
As the safety of the traders’ funds is the primary concern of the broker, the traders can rest assured that their funds are handled responsibly and safely.
FxPro withdrawal methods
As well-known forex and CFD trading broker, FxPro always wants to make sure that the users are enjoying a hassle-free withdrawal experience. And that is why they offer different methods to make a withdrawal.
Well, you should keep in mind that some of these methods can attract additional charges. However, the broker has made it clear that they don’t charge anything for this, but the bank may ask for fees based on your transactions.
It may be noted that FxPro will not ask for any exchange rates if the traders are making a deposit in currencies that are different from that of your funds.
The methods that you can use for withdrawing your money with FxPro are:
- Bank wire transfer
- Debit or credit cards
- E-wallet
- Skrill
- Neteller
In order to withdraw funds from your trading account, you can choose the trading account that you want to withdraw from and then enter the desired amount. After that, the withdrawal will be returned to the connected bank account, which you have added to your trading account.
Any card withdrawal made from FxPro should be made for the bank account that is registered in the traders’ full name. Otherwise, the broker will reject your withdrawal request.
It may be noted that FxPro, for withdrawals and deposits, doesn’t accept any joint bank account. But you can use such an account by registering with the broker. You can always get in touch with the account manager for more information.
In order to verify the authenticity of the chosen bank account, you need to offer the broker a recent and valid bank statement that shouldn’t be older than three months. If the nominated account has a different currency than the trading account, FxPro will convert the amount.
Fees that can occur
Before depositing or withdrawing money from FxPro’s trading account, it is advisable to go through the fees or charges applicable for it. Some brokers will charge a certain amount of fees while making deposits or withdrawals. But some don’t even ask for it.
As the competition level has gone up, most of the brokers are now offering cost-free trading facilities to their customers. But based on your transaction types, you may need to pay fees. But FxPro charges quite less compared to other CFD or forex brokers.
For bank wire
FxPro will not ask for any fees in this face. However, the correspondent bank would charge based on their fee structure. The accepted currencies under this method are; ZAR, AUD, PLN, EUR, USD, JPY, CHF, and GBP. The minimum withdrawal amount is USD 100.
Cards
If you are making a withdrawal request through cards, including MasterCard or maestro card, then you don’t have to worry about any fees. This method supports AUD, USD, CHF, JPY, PLN, GBP, and EUR currencies. However, this method has a limit on the maximum withdrawal amount. For example, for EUR, AUD, USD, and GBP, it is 10,000. For JPY, it is 1,00,000, and in the case of PLN, you can withdraw 40,0000 PLN.
Skrill
While using skrill, you will enjoy cost-free withdrawal. But in some situations, you will have to deal with some fees. For example, FxPro will ask for a fee of around 2.6 percent if you are requesting a withdrawal without trading for a few months.
Neteller
This withdrawal method is also free, and your requests will be processed within just 10 minutes. However, if you have not traded for a while and want to withdraw your funds, then the broker will charge a fee of 2 percent.
It may be noted that while trading through FxPro, then you may need to pay a fee for your international bank wire transfers, and charges can be more. So, check the fees before making a request.
Sometimes, the number of fees charged by the broker can affect your profit. So, experts always suggest withdrawing funds when you have more funds to balance the fees charged by the broker.
FxPro right to cancel some withdrawal requests
The information mentioned on the official site says the broker has the legal rights to cancel the withdrawal requests based on some conditions. These are:
- When the traders have been asked to submit the broker with requested identification information and the traders have failed to submit that within 7 days, FxPro would cancel the requests.
- The broker will cancel the request if the traders don’t offer correct withdrawal information while submitting their funds’ withdrawal requests. The broker will inform the same of the traders. Well, you can resubmit the request with the necessary information.
- If you have submitted the wrong date of birth while making a fund withdrawal request, then FxPro has the right to cancel it. So, always give correct DOB information.
- If the traders have chosen the wrong withdrawal method, the broker will inform the traders that the reason behind the cancellation is the incorrect withdrawal method chosen by the clients. However, the broker will ask you to reapply for the withdrawal using an appropriate withdrawal method.
- If you are using an unverified account, then you may not be able to make any withdrawal. So, before this, prefer to verify your Neteller or Skrill account.
Learn more about this using FxPro demo account
Trading involves a lot of processes and steps, and it can take time to understand all those things. However, with FxPro’s demo account, you can easily get started with this. Through the demo account, you will know a lot of things, for example:
- About the platform
- FxPro’s trading tools and features.
- Market conditions and currency types
- FxPro withdrawal and deposit process and more.
There will be no risk to your fund, and you will learn and understand how the FxPro trading platform works. The best part is that it allows you to try out your trading strategy so that you can know which method will work for you. So, open a demo account now.
Conclusion
Compared to the fees charged by other brokers, it can be said that FxPro asks for a very nominal fee based on the conditions. The best part is that it offers a faster processing time frame and supports USD 100 of the minimum amount for making a withdrawal.
In general, during working hours, all your requests for withdrawal will be processed within one to two hours. And if the requests are made outside the working hours, then the broker will process the request the next business day.
But remember that the total time taken for the amount to reflect in your bank account will depend on the selected payment method and your bank.
You choose any of the available withdrawal gateway based on your preference, and these gateways are available 24×7. All the supported methods are listed in this review.
If you have not received the funds within four to five business days, you can get in touch with the FxPro client account department, and they will offer a Swift Copy. However, sometimes, such transactions may take time. So, you don’t have to panic in the case of any delay.
FAQ – The most asked questions about withdraw money on FxPro :
Are my funds safe with the broker?
As per the broker, funds deposited to the FxPro account by the traders are kept in a highly secure segregated account. For better security, the broker utilizes Tier-1 banks. So, even if you don’t want to withdraw your money, your money will remain safe with FxPro.
However, if you still want to withdraw your funds, just follow the above-mentioned steps and methods to get it done without facing any issues.
Does FxPro charge any fees for withdrawals?
While most leading forex trading brokers will ask you for fees while depositing or withdrawing money, in the case of FxPro, you don’t have to worry about this. The broker offers a free withdrawal facility.
But you should remember that the banks involved in the process of FxPro withdrawal may charge fees during bank transfers. On the other hand, if you are using e-wallets for making a withdrawal, then you may need to pay a fee if your account remains inactive for a few months.
How long does bank wire transfer take and what are the fees?
In the case of bank wire transfers, it can take around three to five days to complete the process. However, your withdrawal request will be processed within 24 hours. The broker doesn’t charge anything for this method.
But the correspondent banks may charge a certain percentage of fees based on their fee structure. So, you should understand this before placing your request. It may be noted that if the traders are making GBP transfers within the UK, then the amount will reflect within the same working day.
How long will my withdrawal be pending on FxPro?
Most traders prefer to choose FxPro as their trading broker as it offers a faster FxPro withdrawal facility. Based on the transaction, the request can be processed on the same day, and the requested funds will be sent to the bank account within two to three business days.
So, if you are in urgent need of money and want to use the money available in your FxPro trading account, you can raise your request now.
How long does it take to withdraw funds from FxPro?
If you have made a request during normal working hours, your request for FxPro withdrawal will be processed within one to two hours. However, if the broker receives the request outside business hours, then your withdrawal request will be processed the next working day.
However, the total duration to reflect the fund will primarily depend on the withdrawal method you have selected.
For example, in the case of a card withdrawal, the duration is around five to seven hours. For international bank transfers, it can take up to 5 days. But FxPro always tries its best to offer a faster and smoother fund withdrawal experience.
How long do I have to wait for FxPro withdrawal?
This depends on the FxPro withdrawal method you consider. Each method takes its specific period. For example, opting for card withdrawals can take about 5-7 working days. At the same time, international bank transfers may take 3-5 business days. And it depends on your bank.
Local transfers and SEPA generally reflect within the same business day. The same condition is with the E-Wallets transfers. You can select either of these payment options based on your preferences and region.
How can I make a FxPro withdrawal into a transfer account?
First, select the transfer option from the wallet section to make the FxPro withdrawal. The next step is to choose the source and target accounts. After that, set the transfer account. Be careful at the time you specify the transfer amount. Then, select the transfer option. And you are ready to transfer your money from FxPro.
What are the FxPro withdrawal methods that a trader can use?
The broker offers plenty of FxPro withdrawal methods for traders. They can withdraw monies from the site using the method of their choice. Usually, traders can use the following methods for FxPro withdrawal.
Bank transfers
Crypto
Electronic funds
Debit and credit cards
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Last Updated on January 27, 2023 by Arkady Müller
