FINPROTRADING WITHDRAWAL OF USD FUNDS TO BITCOIN
I haven’t seen any problems buying BitCoin within FinPro, using funds
in an MT4 USD trading account. These BitCoin are placed in FinProTrading’s
BitCoin Wallet which is provided to each account holder. Of course
this takes place at some exchange rate BTC/USD.
Withdrawals are reviewed by their accounts department, so there are
a few hours up to 24 hours delay before withdrawal is made. This
of course poses a risk in USD/BTC exchange rate between the time
the withdrawal request is made, and when it is completed. In this
case, the withdrawal occured into the BitCoin Wallet at FinPro as
some prevailing exchange rate, unspecified.
Then moving the BTC amounts to another wallet, such as a Coinbase
wallet is OK, but is rather clumsy. If you specify the full amount, the transaction
fails, apparently due to the lack of any additional funds for the BitCoin
FEE. So you need to “guess” a little bit less than the total amount, so that
a FEE can be sent along, and those transactions can then succeed. This
is confusing, but it works, leaving a few “residual” fractional BTC remaining
So, clumsy, but working very smoothly. For U.S. clients seeking a "smooth"
method of interacting with these brokers, BitCoin is a very good method
in general as the transfer method.
Obviously, moving between “fiat” currency like USD, into and out of BitCoin
presents risk of exchange rate volatility. On the other hand, this can be an
additional “trading opportunity” if one chooses an advantageous time to make