I just wanted to withdraw 7000 EUR from my broker via Skrill - but they refused that and told me I can only withdraw 1200 as this is the amount I originally funded via Skrill.
They just tell me that its the AML regulations that have them to do it that way. For information, my Broker is in Australia.
Unfortunately their chat was unable and unwilling to explain me the simplest questions - thats why I now ask here and hope get help from other brokers.
I dont want to name my broker yet - maybe its my wrong then I dont like the brokers name geting disrespected - but its one of the usually "recommended" brokers.
As far I understand money laundering its just that any customer needs to be valid - but it doesnt regulate how much money a customer transfers - especially if that is below 10.000 USD.
How do your brokers handle withdrawels - especially when you earn a lot and therefore want to withdraw more than you actually funded.
My account was funded with 16200 initially (15 via VISA and 1200 via Skrill) - but I hold nearly 45K there now.
If they only allow me to withdraw what I funded ... I will never get my earnings paid out ???
How do your brokers handle it - when you earn a lot and make a withdrawel of lets say 20.000 USD - what besides the usual documentation to validate you is necessary ?
Or is the AML regulation really THAT STRICT - that if I fund with 1000 I can only withdraw 1000 ?
But how do I ever get my earnings ???