Risk warning: Trading Forex can generate great profits as well as great losses for you. It’s good practice to never invest more that you are willing to part with as it is possible to lose more than your initial investment. If you do not have enough experience to trade, we suggest you seek independent advice before you invest. Remember… time is money, invest it wisely.
 

BANK WIRE WITHDRAWALS

Withdrawing Funds from Your Forex Time (FXTM) Account

  • 1
    Log in to your MyFXTM and click on 'Fund Withdrawal' on the upper menu. Choose which trading account you wish to withdraw funds from and then select the bank you would like to use for the wire transfer in 'Transfer Method'.
  • 2
    Choose the currency that you would like to make the withdrawal in, in 'Transfer Currency'. This is the currency that you will be receiving your payment in.
  • 3
    Continue filling in the remaining fields of the form and before clicking 'Confirm', be certain that you understand our withdrawal conditions.
  • 4
    If you want to know the status of your withdrawal, you can check it in 'MyFXTM History' where you will also find further details on the transfer.

Withdrawal Conditions

Processing Time:

  • Most withdrawal requests are processed within 24 hours, but at times the process may take longer than usual; if for example we need to confirm your transfer details.
  • The funds require approximately 3-5 business days to reach your bank account.

Commission:

  • Details on commissions charged for withdrawals can be found in MyFXTM.
  • Take extra care when completing the request form; if there is a need for additional processing and commissions are charged as a result of this need, they will be taken from your withdrawal amount.
  • Your withdrawal amount has to be greater than the full commission charged for the transfer. Remember, if correspondent banks are concerned in your transfer, additional fees may be charged.

Important Information

When you are making a withdrawal ensure that you remember the following:

  • Take extra care when you enter your bank details; if any mistakes are made, the process may be delayed and you may have to pay additional charges to the banks in concern.
  • You cannot make a withdrawal to the account of a third party.
  • The name of the recipient of the wire transfer must be identical to the name registered in the Forex Time (FXTM) account involved.
  • When you withdraw your initial deposit, the funds can only be transferred to the same bank account that you initially deposited from.
  • Our back office may require a scanned copy of the bank statement for the account you wish to withdraw funds from.
Please Note:
  1. A daily update on conversion rates can be found in MyFXTM.