Posted in:

Forex Withdrawal Guide by Traders Union Experts

© by

Depositing and withdrawing funds from a trading account is of concern to many traders. And for many traders the latter is much more important than the former. In this traders union article we will review the options for receiving your profit from the broker, as well as the pitfalls you may encounter on the way.

First of all, let’s review the basic options offered by most companies:

  • Withdrawal via bank transfers and cards;
  • Electronic means of payment;
  • Cash withdrawal at the broker’s cash points.

Let us now consider all these options in more detail. You may withdraw money from your trading account directly to VISA and MasterCard, “tied” to a bank account. This is one of the easiest of all methods, because you can withdraw money immediately, or pay for purchases over the Internet or elsewhere. It may, however, take a little time to transfer the money. Electronic payments can be transferred much quicker. Let’s take a closer look at the most popular ones.

How do I withdraw money from my forex account?

It should be understood that depositing and withdrawing money in forex requires the trader to make the best possible choice. Otherwise, if the method of depositing or withdrawing funds was not chosen correctly, then large commissions, additional fees, as well as taxes can take away a large part of the trader’s earnings.

Below is a list of the most popular options that will allow the trader to withdraw his earnings from trading on the foreign exchange market. It is worth noting that, as in the case of depositing their account, each presented method will differ in the amount of commission, as well as other features:

In order forex withdrawal guide advices to use SWIFT system for large amount of funds. In this case a trader needs to clearly indicate the purpose of payment. It is worth noting that if in the country where the trader trades this activity is prohibited, at the withdrawal of funds may be charged an increased tax, which may be up to 30% of the withdrawal amount;

Use electronic payment systems. Electronic payment system WebMoney ranks first with its popularity. Such systems as Skrill are seldom used, as they require high interest rates for deals performed, as well as serious requirements for the trader’s personal information;

Cryptocurrency. This method of withdrawal has been gaining popularity lately. The distinctive feature of this way is that there is complete anonymity, money transfer does not imply participation of the third person, and rate of cryptocurrency is constantly increasing, which allows to earn good money on difference and to provide yourself additional passive income. In this article traders union experts have looked at how to deposit and withdraw money from Forex. Naturally, the listed methods are not all methods of withdrawing money from a trading account. There are many others, although they are not so popular among traders from the former Soviet Union. And one more nuance — at some brokers the withdrawal of money is carried out only to the same sys