Withdrawal of funds from Forex broker by the example of Stocks WideBarry Copeland 27 / October / 22 Visitors: 21
Forex is an ideal place for trading. Everyone can earn here. The main thing is to choose the right broker and to close the deals successfully. The funds are credited to the account. The money is withdrawn through the payment systems. There are no complications at first glance. The only thing is that each exchange has its own conditions, which differ from each other. This can confuse even an experienced player, not to mention a beginner. Available nuances will be discussed at Stocks Wide.
How long does it take to withdraw funds from Stocks Wide?
The broker does not violate applicable laws. Plus, its activities are limited to the available security protocols. This does not allow for instant withdrawal. No matter how much one would like it, the money will not come in a few minutes. But, there are still fast payouts here.
Stocks Wide processes the request in a couple of days. In general, the decision is taken in 1-3 days. This is several times faster than the competition. After the money is sent to the bank, you should expect to receive it in 1-5 days. It all depends on how long the interbank payment will take. Stocks Wide does not affect it in any way.
To find the best financial institution, independently study the available options. Choose one where you have to wait less. Plus, pay attention to the fee.
Cybersecurity rules determine how long it takes to process an application. No one wants to fall victim to fraudsters, so any client transaction is thoroughly checked. A legal broker does not break the law. It works for the benefit of its users, taking care, first of all, of the safety of their accounts.
Withdrawal of funds may also depend on the requested amount, type of deposit and even on holidays, weekends.
How the withdrawal goes
Money can be withdrawn only after consideration of the request. Otherwise broker Stocks Wide does not work
Consistently, the procedure looks like this:
- forming an application. Here you need to fill in all the fields, be sure to specify the method of transfer. Double-check everything before sending;
- Wait for the broker's reply. As soon as the request is granted, the money will be transferred to the bank account.
If SWIFT is available, you can expect faster crediting. Minor delays can also occur due to non-working days.
Consider the minimum amount of the request. It is directly related to the type of account. A small amount is not always possible to request. Commissions also matter. The balance depends on what tools the trader will be able to use.
All rewards are determined by the tariff. Stocks Wide offers several, which makes it possible to choose the one that suits you best. The commission is also determined by the withdrawal method and its size. Company clients can take advantage of two free requests, subject to bank transfer.
Minimum withdrawal amount
Once again, it all depends on the plan and type of account opened. There are peculiarities, conditions, nuances. It also forms the broker's commission. The basic Stocks Wide account has a rather low balance. Therefore it is not reasonable to withdraw the minimum amount of funds. Everything will go to pay fees.
Problems that may arise
A bank can block a transaction. This happens only when finmonitoring checks the legitimacy of funds. The solution is simple. Bring evidence to the bank confirming that the money was earned on the exchange. After that, everything will be restored. In this case, no one arrests your personal funds, just suspends a particular transfer.
The transaction may be slowed down because of a possible hacker threat. There are no shortage of malefactors. The company is not ready to risk its clients' finances, so it does everything possible to protect them.
Incorrectly entered details also become a problem. The issue can be resolved through the bank (in case the money is not in a non-refundable jurisdiction).
Why Stocks Wide may refuse?
The broker can block if:
- a withdrawal to a third-party account is requested;
- Client identification has not been performed;
- outdated or irrelevant details;
- fraud and other illegal actions on the part of the client.
A brokerage account is not designed for interpersonal transfers. This means that you cannot send money to another user of the system. If a withdrawal is made to a third party, the account will be blocked as a punishment. Errors, incorrectly entered data during registration will also be a reason to reject Stocks Wide.
Stocks Wide commission depends on the type of account. The activity is legal, which is confirmed by documents. The broker processes the application within several days. Delays happen, but not regularly.