The broker does not return the money, what should I do? This has become a major issue for many traders and forex traders, both beginners and professionals. It is no longer just enough to start earning, you also have to pick up, withdraw your money back.
Brokers do not always withdraw money to traders. Sometimes there are reasons and explanations for this, but most often they are not.
, withdraw money always, without delay and without problems. While paving brokers will do everything not to withdraw money to traders at all.
In this article, we will understand and answer the question: How to withdraw money from a broker and forex, what to do and what to tell the manager to return the money.
We get complaints about brokers not withdrawing money to traders, sometimes they are justified, but sometimes they are not.
Brokers have conditions for withdrawal, and restrictions. Therefore, let's start by considering why a broker may not withdraw money to a trader.
The broker does not withdraw money, so the trader has not met all the conditions necessary for withdrawal. These are the rules, and these rules must be known. The broker and forex require the trader to provide two main documents: a passport in the name of the trader who opened the account, and proof of residence. This is done in order to ensure the safety financial transactions trader.
- The passport confirms that: the trader is over 18, the card with which he replenished his account
- Proof of Residence: Some brokers cannot work in individual countries, therefore, require confirmation that the trader is located in a permitted country.
This is not surprising, the procedure is similar to banking. Wherever there is money, you need to pass verification. This protects us, traders, from cheating and stealing our money.
Before withdrawing funds, the broker asks to send all the documents, otherwise you simply will not be able to receive the money. For example, you may need to scan and send proof of identity or fulfill any other verification requirements. As soon as you do everything as requested by the broker, your money will be sent to your account, if there are no other reasons for the delay (as a bonus)
Why such procedures?
To ensure the safety of your own funds. The broker strives to make sure that you are really you. These rules are designed to protect the trader, and you need to know these rules.
What to do to get money without delay:
- Before making a deposit, please read all withdrawal terms and conditions.
- pass verification, do not wait until you need to withdraw funds. Do it in advance - and you will save time and save your nerves.
- wait for a written confirmation from the broker that the documents have been accepted and the verification has been successfully completed.
If all these points are completed, the broker will have no reason to delay the withdrawal of your money.
Reason 2: Bonus and participation in broker promotions.
The broker does not withdraw money, since the trader has not worked out the bonus and there are obligations to the broker. It must be understood that those who offer a bonus or risk-free trading take on the risk of losing money. Therefore, the broker, charging a bonus to a trader, requires a minimum volume of transactions. So the money is returned to the brokers. Benefits for both trader and broker.
In the terms and conditions of the bonus, you can immediately find the conditions. Therefore, it is not a surprise if the broker does not withdraw money or write off a certain amount from the trader's account.
Remember the broker should not risk his money, the bonus is to help traders with low deposits.
Be sure to read the bonus conditions. It should not come as a surprise to you that the broker requires you to withdraw funds.
If you may need money in the near future, consider if you can meet all the conditions.
The conditions of brokers explain how and when you can withdraw money. Basically, brokers refer to the violation of these conditions. Therefore, in order to withdraw money from a broker or forex, always read the conditions.
THESE ARE STANDARD CONDITIONS FOR WORKING THE BONUS. THE TRADER MUST MAKE THE TRADING WITH A TOTAL VOLUME OF 20 TIMES THE BONUS ITSELF. ALSO THE BROKER MAY DELAY THE WITHDRAWAL OF FUNDS IF THE TRADER DOES NOT MEET ALL THE CONDITIONS. BEFORE APPLYING TO WITHDRAW YOUR FUNDS, READ THE BONUS TERMS AND CONDITIONS AND MAKE SURE YOU DO NOT owe ANYTHING. IF YOU DID NOT DO THIS, IT IS YOURSELF, NOT THE BROKER.
Reason 3: Credit card verification
If you made a deposit using a credit card, the broker may ask you to provide him with a scanned copy of the card from both sides. Remember that the account registration must be in your name. If the name on the card, passport and account are different, the broker will block your account.
Also, do not forget that you are transmitting data over the Internet. So that no one steals your data, close some of the numbers on the card.
In order to avoid a delay in withdrawing money, ask your manager what documents are required for withdrawal, check if you have them. If not, find a solution.
Go through the verification process before requesting a withdrawal. Be ready right away.
Verification of documents may take several days. This is absolutely normal, remember that broker and forex trading is financial. Account verification protects the trader.
Reason 4: Rejection of withdrawal due to lack of funds on the balance
The broker may reject the withdrawal of your money if there is not enough money on the balance. What does it mean?
If you have $1000 in your account and you have opened 2 trades of $50 each, you have $900 free money in your account to withdraw. Therefore, make sure that you deposit the amount for withdrawal that you have on your account balance.
The broker processes the withdrawal of funds from 24-48 hours. At this time, it is better not to open transactions, so as not to change the balance. Otherwise, the broker will cancel your withdrawal request.
We have considered the main reasons why a broker may not withdraw your money. Now let's look at what to do if the broker does not withdraw money to you, if there are no reasons, you have passed verification and you have no obligations to the broker.
What to do if the broker does not deposit money?
You have fulfilled all the conditions, worked out the bonus and provided all the documents, but the broker does not withdraw your money. Follow the following plan to increase the chance of receiving your funds.
So, make sure:
- You have passed full account verification. Before sending a withdrawal request, receive an email (e-mail) confirmation from the manager that everything is fine and that all documents are available.
- If you had a bonus, get confirmation from the broker that everything is in order and that you really do not owe the broker anything. The bonus has been worked out or it simply does not exist. Be sure to read the conditions for receiving the bonus, and what will happen if you want to withdraw money from the broker. Make sure you've done everything and don't owe anything.
- find out what is the minimum and maximum amount for withdrawal, in the main it is $50
- Find out how to withdraw funds and replenish the deposit. Some brokers offer more types of deposits than for withdrawals. For example, you can make a deposit with WebMoney, and the withdrawal will be only to Visa. Find out all this at the beginning of the auction. The broker is obliged to provide you with such information.
After you are sure that you can and have the right to withdraw your money, send a withdrawal request. Be sure to write to your manager and make sure they get everything. Keep all your correspondence.
If after that your withdrawal request is stuck in the void, we take the following steps:
- We write a letter to the manager, clearly indicating that we owe nothing, that there are no reasons to delay money. Attach your correspondence that confirms that you owe nothing.
- we attach all screenshots, if any, - correspondence in which the broker confirms that all conditions are met. It is important to take a screenshot of your account screen, which shows that you have money in your account. There are those who can, impudently write off money or open deals instead of a trader.
- We communicate politely, without threats and accusations. We build all our arguments solely on facts, without conjectures and references to third parties. Don't make an enemy of the manager. Managers at brokers are scammers themselves. Therefore, we often receive letters that managers do not answer, disappear, or even simply send a trader.
The purpose of this letter- show the broker that you are serious and that you know what you are doing. At the beginning, send a letter to the manager if there is no reaction and answer. If you continue to be ignored, send letters to all contacts of the broker - email, skype.
If after that - silence, once again send all letters to all contact addresses of the broker and add that you will be forced to complain and take action.
In order to really complain about a broker or forex, you need to know where and how to apply.
Brokers with a license - where to complain
If your broker is licensed, this greatly simplifies the whole procedure. You can complain about such a broker to the regulator that issued the license. So, to complain about a licensed broker:
- CROFR - follow the link;
The task of the regulator is to control the activity of the broker. Make sure that the broker behaves correctly and honestly towards the trader. Write a complaint clearly, without water, based on facts. Attach all screenshots and correspondence.
When you send a complaint to the regulator, indicate the license number of the broker, as well as the brand (name of the broker or forex), find out the name of the company in the registration document.
Send a copy of the letter to your broker, write that you have filed a complaint.
REGULATION OF THE BROKER UTRADER. YOU CAN FOLLOW THE LINK AND FIND THE NAME OF THE COMPANY OWNING THE BROKER. WHEN WAS THE LICENSE ISSUED AND HAVE THERE BEEN COMPLAINTS IN THE PAST AGAINST THIS BROKER.
Binary options and forex brokers without a license - where to complain
In this case, the situation becomes much more complicated, since there is nowhere to complain directly about the broker. The only thing you can do is make life difficult for the broker who pocketed your money.
How to do it?
- write to the support service of WebMoney or other payment systems that the broker works with, attach everything Required documents and report fraud with a request to block the fraudster;
- write reviews about the broker both on its website and on all thematic resources. ALWAYS notify the broker about this by sending him a link to the review.
- write a complaint to our resource. As a rule, brokers turn to us with a request to remove a negative review or a complaint, as they lose customers because of this. But we do not remove complaints, we ask the broker to resolve the issue with the trader. And only when the trader informs us that the issue is resolved and there are no complaints, we mark this on the site.
- If you have translated credit card, call to credit company and cancel the transfer. don't mess with the law, they can't take you to court. Moreover, they are registered abroad as shell companies.
Tricks of fraudulent brokers in order not to withdraw money
Remember, they will do everything not to return your money. To do this, they use tricks:
- open deals instead of a trader
- withdraw money from account
- asking for additional funds
- ask to replenish the deposit for trading
- define a high withdrawal limit - $10,000, not $50 as usual
- just ignore the trader.
If the broker has not withdrawn money within 5 working days, and the company manager comes up with different reasons, don't wait ACT. Because he is just trying to steal money from you. The manager is not your friend, it is the person on the payroll. Who gets paid when the company makes money. If it is, he earns from what he steals from you.
Having done everything that we offer you, you will increase the chance to withdraw your money back, at least your deposit.
What to do so that you avoid delays and do not fall for scammers
- Trade only with recommended brokers
- Choose licensed brokers
- Read real reviews, negative feedback show what kind of broker
- Start with small deposits
- Try to withdraw money after a couple of weeks and evaluate the work of the broker
- Read the terms of the promotion
- Get verified before making a deposit
- Make sure the broker is real: license number, registration
Only after you have checked the broker make a working deposit and start trading.
Correct application for withdrawal of funds
From the article you will learn:
Naturally, I am not going to impose anything on you. I am not pretending to be some kind of guru and so on. No, I'm just a regular trader just like you! Take all my words as some kind of alternative opinion and nothing more.
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Listen to my advice or pass by - it's up to you to decide. But I personally really hope that I can convey certain thoughts to you. Well, let's deal with the issue.
BROKER WITHDRAWAL OF MONEY. HOW TO DO IT RIGHT?
Many people ask one important question: how much money can be withdrawn from a broker binary options so as not to fall out of favor with him, so to speak.
Well, this question should be asked first of all by traders who are already earning on options.
Many are afraid that they will withdraw money, the broker will calculate them and start putting spokes in the wheels in every possible way. On the one hand, their fears are groundless, but not everything is so simple.
If you run into some frankly Lokhov office, then everything can be here. There are really those companies that have been operating on the market for a long time, and you need to work with them.
These companies have been operating on the market for a long time, they have their own target audience, image, and the like. I assure you that a serious company will not cheat some Vasya Pupkin for 100 bucks. It is easier for her to pay this money, and at the same time not to get dirty
Very often, traders blame the broker for their drains. But I assure you, if you understand each specific situation, then in 90% of cases, traders are to blame themselves.
They just can't admit that they screwed up, unable to admit their own mistakes. Of course, it's easier for them to blame the company, the dumbass neighbor, and the like.
In total, if you consistently earn and operate with not very large money, then there will be no questions for you. It is not difficult for a large company to pay you a couple of thousand dollars a month. At large companies the corresponding turnover, and they will not be at all interested in ruining their image and reputation because of mere pennies.
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Again, this works if you work with a reliable company. If you got into a muddy office, then it may well shake you for some 100 bucks.
On the other hand, what if a trader makes really big money. For example, a trader has a deposit of $10,000 and he makes, for example, 200% per month. To be honest, I generally do not recommend operating with such amounts on options, but I suppose that such a person may have problems even within the framework of a large broker.
The fact is that you are trading, in fact, against a broker. If you constantly order large amounts for withdrawal, then this may well result in some problems for you. What can we conclude from this question?
I don't think you should invest more than $1,000-$2,000 in options. From my own experience, I can say that serious options companies pay $1000-2000 without any problems, as with large sums- I can not say exactly.
WHERE IS IT BETTER TO EXIT?
Withdrawing money from a broker is a very delicate issue, and in addition to how much to withdraw, it is important to understand where to withdraw. Here I can immediately tell you that it is better not to work with bank transfers within the framework of this issue and plastic cards. Again, it's all very subjective, but that's what I think.
The fact is that bank transfers go long enough, and it’s not a fact that the bank will not reject your transfer. Well, think about it, if you are steadily dripping money from some offshore? This can certainly arouse interest, they say, from where, who and how?
The easiest option is to work with electronic payment systems. Webmoney, Qiwi, YandexMoney - this is the trinity that can become a faithful companion in binary trading.
Withdraw money to these EPS, and then do what you want. You can easily transfer money directly to the bank. For example, Qiwi and Poison withdraw money to the bank almost instantly. So, if you don't want a headache for yourself, forget about bank transfers and cards.
CAN OPTIONS BECOME A STABLE EARNINGS?
The question is very complex and largely subjective. I believe that options should not be considered as a stable source of income, but as an additional income - that's it!
The fact is that the mathematical expectation of options is negative. You risk 100% of the bet to get an average of 75%, and that's it! You cannot influence this in any way, because your profit and loss are fixed!
Accordingly, you have two options:
- Martin, Martin and more Martin!
- Make deals rarely, but aptly, maintaining a win rate at the level of 70%
Making deals is always extremely accurate - not the easiest task even for a seasoned trader, because there will be periods of losses. And Martin, one way or another, will take his own! But, if Martin is used wisely, then you can quite manage to cut some money well. Here, of course, it's up to you.
CONCLUSION
Work only with high-quality companies, do not go into frankly suspicious and Lokhov offices and you will be happy.
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Sometimes novice traders get so deep into the study of trading strategies, the choice of instruments and trading itself that they forget about some of the important nuances. In particular, about how they will withdraw the money earned on trading from the exchange. At the time of the start in trading, this moment seems not so important, because a beginner sometimes doubts that he will succeed at all, but with the advent of the first earnings, the issue becomes acute, and if you do not think over the decision in advance, you may encounter some difficulties. Let's find outand what methods are provided for this.
How to withdraw money from the exchange: how does it even work?
Let's start with the fact that the trader's money is not withdrawn directly from the exchange, but from the brokerage account. Therefore, the withdrawal rules are set by the broker whose services the trader uses.
Hence a simple conclusion - even at the stage of choosing a broker, a novice trader should pay attention not only to its reliability and terms of service, but also to the rules for withdrawing funds. It is important that these conditions are also convenient and suitable for the trader.
Fortunately, today there is a huge choice. brokerage companies with a variety of terms and conditions. Moreover, a trader is not at all limited geographically - he can become a client of a broker he likes, even if there is no representative office in his area.
The conditions for withdrawing money from different brokers vary, but there are a few general rules:
- It is impossible to withdraw money from a brokerage account that is actually not there;
- For withdrawal, it is necessary to issue an appropriate order;
- In accordance with tax legislation, 13% of personal income tax is withheld from the amount of profit (there are nuances for IIS owners, you can read about it here).
Now we will look at how to withdraw money from the exchange with some popular brokers.
Promsvyazbank
Promsvyazbank has a fairly simple procedure for opening an account and a convenient withdrawal. So, it is possible to withdraw money directly through trading platform QUIK. To do this, you need to submit a non-trading order directly to in electronic format in the program itself. Considering that trade QUIK platform is used by 80% of traders, this withdrawal method is very convenient.
The second option for receiving funds is Internet banking. To withdraw in this way, it is necessary to place a trading order online on the Internet banking platform.
The third way is to issue an audio order by phone. Funds will be credited to the trader's personal account within 3 working days.
ITinvest
This broker provides for the withdrawal of money Personal Area. After submitting an online application for withdrawal, the funds are credited to the client's personal account within 2 days (counting the day the application was submitted if it was submitted before 15.00). The status of the application can be conveniently tracked in your personal account.
It is not allowed to issue a conclusion to a third party, with the exception of a notarized representative.
NETTRADER
This broker provides several withdrawal options. The first one is through the cash desk, but it is available only for traders from Moscow. In order to receive money in cash, it is necessary to submit an order for withdrawal in advance and arrive at the time of withdrawal to the company's office. In this case, you can receive money on the next business day.
An urgent withdrawal is also provided, in which the money can be received by the evening of the same day, or the next day if the order was submitted after 18.00.
It is also possible to withdraw to a bank account, online, through the client's personal account. At the same time, the withdrawal terms range from one to three business days, depending on the withdrawal conditions and the time of application.
BCS Broker
There are several possibilities for applying for withdrawal. This includes BCS-Online, the My Broker application, and the QUIK system. You can also submit an order by fax, by phone or in person at the company's office. Withdrawal terms are 1-2 working days, depending on the time of application.
What to remember as a trader
When thinking about how to withdraw funds from a brokerage account, it is important to remember some nuances even at the stage of choosing a broker.
- Which method of withdrawing funds is the most convenient and profitable.
Some methods involve fees and some do not. In addition, in most cases, online transactions are more convenient and faster. - In what currency is the withdrawal expected.
Most brokers have different conditions and terms for the withdrawal of local and foreign exchange. Also, for foreign currency, an additional commission is sometimes provided. - Is there an urgent withdrawal option?
It can be useful, but not all brokers have it. In addition, the dimensions additional commission for urgency also differ.
Besides, , there are still many questions and nuances that a beginner has to figure out in order to succeed in the trading path. You can learn about them by subscribing to our blog. Articles with the latest news are regularly published here. financial sphere and useful.
Why Promsvyazbank?
- One of the lowest rates on the market.
- No fixed payments.
- No restriction on the minimum amount to open an account.
- Investment consulting and personal manager.
- Opening a brokerage account in any office.
- Conclusion Money from a brokerage account via QUIK.
- 11th bank by assets in Russia (Interfax).
- Rating BB- / BA2 (Fitch / Moody "s).
How to open a brokerage account?
- If you are already a client of the bank, it will be enough for you to log in to PSB-Retail and apply for opening an account in the "Broker Service" section, selecting the terms of service.
- If you have not yet become a client of Promsvyazbank, then first you will need to go through a simple registration procedure in Internet banking, indicating your full name, date of birth and contact information. And then apply to open an account.
After submitting the application, you can come to any office of the bank in accordance with its work schedule in order to sign documents for concluding an agreement. You must have your passport with you!
What is the minimum amount of funds required to open an account?
There are no restrictions on the minimum amount.
How much does the service cost?
Opening and maintenance of a brokerage and depositary account is free of charge. When making transactions, a broker commission will be charged in accordance with the selected tariff. For example, when choosing tariff plan"PSB Day" commission ranges from 0.01% to 0.05% of the transaction amount (the rate depends on the volume of the transaction). For more information on rates, please follow the link.
How to transfer money to a brokerage account?
You can transfer funds through the Internet bank in the section "Operations / Brokerage services / Crediting to a brokerage account".
How to withdraw money from a brokerage account?
There are two ways to submit an order to withdraw funds. Using the QUIK system, by submitting a non-trading order in the program. Or by filling out the appropriate form in paper form and sending it to the bank by fax, followed by the provision of the original (the current forms are available on the bank's website).
How to make changes to the terms of brokerage service?
Once you have become our client and opened a brokerage account, you will be able to make changes to the terms of the brokerage agreement through the PSB-Retail internet bank. In the "Broker Service" section of the Internet Bank, you can change the available trading platforms, the tariff, software for trading, register or suspend the encryption key for QUIK, enable (or disable) the distribution of analytics.
How are taxes withheld?
The bank, acting as your broker, is tax agent and withholds personal income tax in the amount of 13% of the income received (for residents - individuals). Withholding taxes occurs when funds are withdrawn from the account or at the end of tax period. .
Why does a trader come to currency market Forex? Naturally, not for thrills, but for profit. That's what the rules are for. technical analysis, try different trading strategies read a lot of literature. Finally, the result is achieved - the profit is received. And here one of the most important questions arises - how to get your hard-earned money?
The problem is that many traders choose a broker to trade with absolutely no interest in how to withdraw their profits? Let's talk in more detail about how to withdraw money from a trading account.
What you need to do before opening a real account
Before opening a real deposit with the selected forex broker, you should definitely ask on what conditions the broker withdraws the earned profit.
As a rule, money is available for withdrawal only after passing the verification procedure. At the same time, verification can have several levels, at each of which you will need scans or photographs of identity documents. Naturally, when registering, in order to avoid further problems, it is best to indicate the real name and surname.
Dealing centers and brokers operating in the CIS do not limit their services only in this way, but offer many more ways to withdraw profits - from electronic payment systems to such exotic things as bitcoins.
We will review the most popular ways to withdraw money from Forex.
Electronic payment systems
Most companies allow you to withdraw profits to electronic wallets of the most common payment systems. The leading place here is occupied by Webmoney systems, Yandex Money, Qiwi, Skrill and Neteller.
When choosing a payment system, be sure to familiarize yourself with how much money you will lose when withdrawing profits. For example, WebMoney has a standard commission of 0.8% of the transfer amount, while Neteller has a commission of 1% (no more than 11.41 USD or 10 EUR) and a commission of 1.39% of the withdrawal amount.
At the same time, pay attention to the deadlines. The withdrawal may take from several working hours to several working days - this will be indicated on the broker's website and in the contract.
Important: despite the fact that Webmoney are, on this moment, the most common electronic payment system, some companies do not work with them.
Withdrawal of profit to a bank account (bank card)
Withdrawing money to a bank account or bank card may take from 1 to 7 banking days.
Withdrawing money from Forex to a bank card is not so popular among ordinary traders. This is due to the fact that the commission charged in this case is somewhat higher than when withdrawing funds to the same card through the chain "trading account - electronic payment system– intermediary – bank card”. This is especially true if the country of residence of the trader and the country in which the broker is located are different. In some cases, for citizens of other states, this method is not available at all.
Reduce the popularity of this method and the timing of the withdrawal of money. Unlike electronic payment systems, withdrawing money to a bank account or bank card can take from 1 to 7 banking days.
However, this method is used by traders who withdraw significant profits (of the order of several thousand dollars). For such speculators, it is not the withdrawal period that is important, but its maximum reliability.
Own cards forex brokers
Recently, the trend of forex brokers issuing their own payment cards is gaining momentum. Their names are different for each broker, but, in fact, they are the same - this is an international MasterCard card.
This method has many advantages. By using MasterCard cards you can withdraw cash at any ATM, pay in stores, make purchases on eBay or Amazon, where their patency compares favorably with cards of domestic banks.
But the most important advantage is completely different - these cards are opened in offshore zone and transactions with them do not fall under the law on financial monitoring in the territory of their native state. Therefore, if your profit from Forex trading has reached cosmic proportions, this method will be the most profitable.
Naturally, it was not without drawbacks. The issuance of such a card is not free, in addition, a card maintenance fee is periodically charged. When withdrawing cash from an ATM, you will be charged a commission, which consists of fixed amount and a percentage of the withdrawn amount. Therefore, the use of such a card is completely unprofitable for an ordinary trader with a small deposit.
Conclusion
If you have come to the foreign exchange market seriously and for a long time, then the question of how to withdraw money from Forex should be of interest to you in the first place. After all, the main goal of a trader is to make a profit, and not to deposit money on a Forex broker's deposit.
