i made a withdrawal request to the same bank account i deposited from but the amount is more than the initial amount i deposited. For example, i deposited $150 and after making profit i make request to withdraw $500 to the same bank account and this is my first time
How much time it is going to take to receive the money in my bank account
Welcome to the forum and congratulations on your profitable trading :35:
The time frame for you to receive your funds will depend on the withdrawal method you select.
[li][B]Bank Wires:[/B] Domestic bank wires take about one to two business days and international bank wires take about three to five business days, often less, to arrive.
[/li][li][B]Paper Check:[/B] Domestic checks take about ten business days and international checks take about fifteen business days, often less, to arrive.
[/li][li][B]Credit or Debit Card:[/B] Time frames will vary depending on the card issuer and may take up to one billing cycle to post back to the credit or debit card used for funding.[/ul]
[/li]We have aimed to make the withdrawal process as easy as possible. To find further answers to withdrawal questions, visit our website.
You would have the choice of either withdrawing via credit card or bank wire, since you deposited funds using both methods.
Credit card withdrawals are free, however, you would not be able to withdraw more than $5000 back to your credit card, since that’s the amount you originally deposited from that card. There is normally a fee* for withdrawing funds via bank wire, but you’ll be interested to know that trading accounts with a balance of $25,000 or more qualify for our Active Trader program which provides free wire withdrawals in addition to lower spreads for high volume traders.
The exact withdrawal fee depends on the currency denomination of your trading account, the location of your bank account and whether your trading account is with FXCM US, UK or Australia. Please log into MyFXCM.com to see the exact bank wire fee for your account type.
ACH is an electronic transfer method used for bank accounts in the US. If you have a bank account in your name in the US, we can send funds to it via ACH from your individual trading account with FXCM.
Yes as long as both accounts are in your name as is your trading account with FXCM.
If your only deposit method was via credit card, then with your first withdrawal, the funds must be sent back to that same card. In this example, you originally funded your account by card with $5000. That means the first $5000 you withdraw would be sent back to the same card. Any additional withdrawals over that amount can be sent via bank wire to a bank account in your name.
One of our account specialists can provide you with more specific details about your deposit and withdrawal options, if you give them specifics about the amount you wish to deposit, where your bank account is located and what transfer methods you prefer. Let me know if you’d like me to arrange for one of them to follow up with you to discuss your account.