Hi guys I’ve jut opened my first ever real broker account, I’ve read that in fxcm you can’t withdraw more money than what you deposit? So if I deposit £300 I can only withdraw £300? In this case how will I withdraw my earnings?
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where are you from Mate ?
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I’m from UK
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Hi matrix,
Congratulations on setting up your first real broker account!
I can help with your question. First, you can always withdraw your earnings. What you may be referencing is the amount you can withdraw back to a credit or debit card that was originally used to fund the account.
If you deposited £300 by credit card or debit card, then we can send the original £300 back to the credit card or debit card used to fund the account. Any additional earnings would be returned back via another method such as bank wire. Why is this the case? The credit/debit card deposit goes through as a purchase on your card. When you request a withdrawal, we are in effect refunding the purchase. When you get refunded for a purchase at a store, you can’t hand the clerk another £100 and say can you do me a favor and add this to my credit card as well. We are unable to do that as well. But rest assured your earnings will be returned by another withdrawal method when you request the withdrawal of earnings.
I hope that helps clear things up.
Jason
73.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Very well and clearly answered, many thanks Jason you’re the best, I’ve never tired any of the other methods, with bank wire will I need to enter my debit card information or how does that work exactly? And are there any fees with that?
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Hi! I didnt know about such a restriction! I will be happy if you can explain in details if this is true… because i did not find such an information on their website…
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Take a look at page 7 of the rate card. It details the fee, if any, for the requested withdrawal method.
https://docs.fxcorporate.com/charges_and_fees_ltd.pdf
To request the withdrawal, you would login to MyFXCM.com with your live account information and submit the withdrawal request online.