Hey all. I’m not a standard trader and my trading style resembles more gambling that trading. Coming from Wallstreetbets where I usually lurk, however, a year and a half ago got into trading futures and fx. Got an account with a broker that had good reviews ( its offshore ), and after loosing and loosing constantly got to a point where I started making good profits (overleveraged and risked blowing up accounts). I made withdrawals during the last year, 10k here, 10k there, but recently submitted a very very very big one. Its going through the KYC/AML checks, and I gave a lot of documents (over 50 different ones). Curious to understand from more experienced fellows here how long does this process usually take ? So far been like 4-5 days already I would guess.
It’s been a while since I opened mine but I wanna say it took about a week.
Coming from Wallstreetbets where I usually lurk
Welcome to the club! This place is much quieter than WSB. Feels more of a club with the same-ish people vs. reddit where it’s always bustling.
I’m guessing you trade stocks? Has WSB helped at all?
Thanks for the reply Ponponwei. It is much quieter indeed.
WSB helps, if you invert WSB :))). Kidding aside, helped form a style of very aggressive trading and reduce my fear of losses, which was really bad back in the day. Now I can see a trade be 100.000 $ in the negative, and doesn’t bother me at all.
I’m going through KYC/AML cause I took 10k to 500k in a matter of a couple of weeks (aggressive trading on JPY pairs) and as anyone can imagine, I wanna see that money in my bank asap, and my overthinking mind got me thinking the broker wants to find reasons to decline withdrawals. Not gonna name the broker cause I ain’t sure if its just me overthinking till I hear back.
$100k?? That’s insane. The most I’ve made from WSB is $2k in 2 days back during the GME days lol.
You trade options?
Dang. Keep us posted! Very curious to see if you end up getting your money! And yes, smart move re: not naming the broker for now but you gotta spill the tea here if they end up ghosting you.
Also, crazy having to send over 50 different documents. How does one even have that many!