Regulated Forex Broker (Alpari) Rejects withdrawal because its to Revolut (neobanks)

Hey guys, i would really appreciate the help. Been struggling to get my money back from Alpari. (Havent even made profits)

They had no problem accepting my money coming from Revolut, but now when i want to withdraw using the same account, bank wire, they reject it and ask me to use a “usual local uk bank” account. I dont have one.

This is Alpari International. I used it for the high leverage they offer. Its regulated by FSC. I know i should ve checked if i can withdraw with a small amount but i thought it should be alright since i did it before with other brokers and was alright.

I ve been struggling for a week now. They said it will be resolved, it jus takes time since they have to comply with the rules. They say its because SBM does not allow withdrawal to neobanks like Revolut, Monzo etc…

Any idea how can i proceed? Thanks

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yes, open a UK high street bank account - looks like RBS, Natwest, Bank of Scotland, Halifax are fastest. Read this article:

I understand this part, but what if its not an option right now to open? Currently abroad or etc…

This is insane to me because this would violate the money laundering laws

There is 24 -7 internet, so it shouldn’t be difficult to open a bank account. However, if they accepted your money from Revolut, they are clearly in breach of their terms and conditions and regulatory standards. They should be requested to close your account and return the balance to the same source.

Also, resolution of withdrawals is an industry bugbear and I sympathise with your predicament. Just let it rest for another week, providing you’re expecting a response from Alpari. If not, use their phone chat line to get resolution.