hello world, i’m currently looking for a live broker for the uk, i’ve looked at the top ones like aspari(uk) and a some others that pop up on the 1st page of google. anyway after examining there accounts i noticed that they charge a withdrwing fee roughly £25!!! WTF. ahem I’ve calmed myself. anyway has anyone come across any uk user friendly fx brokers that don’t apply fees to your account? Or is this pretty standard?
thanks all in advance.
Not living in UK and never have experience with UK broker,
but I think maybe $25 is wire transfer fee, that is normal and if you choose that way the one who charge you is the bank,
Well I never try wire transfer too in the past so need more confirmation with other who already have experience.
I have experience receiving money through skrill to asian country and one of my local bank charge $5, other don’t charge a penny.
Maybe it will depend on brokers and payment system you use, try to ask the broker to get more clarification on what withdrawal method available. (Don’t have experience with alpari though).
Hi, $25 for a wire transfer is actually good. Some brokers charge as high as $50. Depending on what funding gateways your broker may offer you may be able to get funds out cheaper. Just be very careful with virtual currencies. Liberty Reserve is one that went down and anyone holding funds there got wiped out. I would stick with bank wires, PayPal, credit card charge back and maybe a 3rd party like Skrill or through a Payoneer card, but please stay away from the virtual currencies, not worth the risk imho.
Hi darthfrancis,
Welcome to the forum 
Nobody likes hidden fees, and we like large fees even less. We’ve worked hard to reduce your charges for all account transactions and maintain full transparency. In some instances, we need to pass on bank charges.
If you have any other questions, feel free to join us on our thread in the Broker Aid Station of Babypips. We’re here to help.
Alex
Alexander Chadwick
Alpari (UK) Representative
Some do, some don’t. Wire transfer has a big FEE
hi thanks all for your replies. I think i’ll have to do some shopping about.
by chance can anyone recommend a broker to start my search?
Auch… Hard on that one. I would recommend you to go with a broker who offers both retail and NDD accounts. Start with the retail and when you finally gather something like 2000 USD change to NDD
There are only a few brokers who don’t charge for deposit or withdrawals via other electronic payment, but I think all of them charge for bank transfer cus the fee is general. The broker I use, which is profiforex usually charge only $5 for all form of withdrawal irrespective of the amount you want to withdraw.
I can see almost brokers charge a little fee for withdrawal. But I think there are some brokers that don’t charge anything for withdrawal. I like brokers that charge a number of %/total amount instead of fixed fee.
I think you are wrong. Brokers who charge on percentage basis will usually do that in the 2% or 3% basis. That means if you are withdrawing a large amount, e.g. $500, you will pay $5 fee or $7.5. However, brokers who charge a fixed fee will not go beyond $5 no matter the amount of money. So, if you are the type that withdraws huge amount like $1000, then its a win for you, cus you will pay just that $5, instead of $10 if its a 1% basis.
thanks for the advice, NDD sounds safer but you pay for it in the spread tough choice but probably go for you advice.
In my travels I’ve been recommended hotforex and after talking to there advisor no fees at all for withdraw or deposit on any account! My only problem is that they only trade with dollar or euro and i’m a sterling kinda of guy. They did say that you can still deposit with sterling and they would convert it using XE.
now looks like i have to pay close attention to the gbpusd and eurgbp lol. But then i might miss a trade! what is a guy to do…
Im not sure if its possible, but there is an option, like maybe opening a dollar or EU bank account to avoid them small convertion loses, am account that you only use for trading forex, and it can serve as a way for you not to use your forex funds 
so the money you use for trading stays for trading only right?
like your thinking jingoy especially so its stays as trading funds and not shopping funds as the missus would have it 
But on the other hand would I not still incur exchange fee by the bank? probably with more commission?
I trade with Hantec Markets here in the UK and they don’t charge for withdrawals. No issues so far.
I like the optimism of wanting to make many regular withdrawals! :53:
ok i’ll check them out thanks andy, yeah I know its silly as i’ll probably wouldn’t make many withdraws but its principle as. its my monies broker leave it alone!
well yeah i guess you have a point, im not so sure about conversions there, but i do lose a bit here when converting my earning into a local currency but its manageable best of luck francis
Thanks jingoy you too. I see your a senior member jingoy how long have you been trading for and what kind of timeframe and strategy do you use?
FreshForex canceled the deposit commission for Neteller and Visa/Mastercard, so you don’t need to pay 2,5% every time you charge your account.
Most brokers do not charge for credit card transfers, but they charge for wire withdrawals. Some VIP clients can get free withdrawals with some brokers-it’s worth asking if there are any cases where they wire fees.
It doesn’t close them anywhere near that much to send a wire – it’s one of the places where Forex firm makes some money.