Hello my dear friends,
I am using a broker and I noticed there a $40 withdrawal fee will be charged for all Bank Wire requests.
So I am wondering, what is the broker charges the less to withdraw funds.
Keep on mind that the majority of brokers will give you your money back to the credit card you used to fund your account. However, once you have made some profits, you can withdraw them only by wire transfer.
Thank you familia!
Brokers do not charge for withdrawals. It’s your money! Change brokers immediately. You’re getting scammed.
They do charge my dear friend.
For instance:
FXCM charges 40.00USD
FOREX .com charges 25.00USD
And so on… After doing a research it seems like XM .com does not charge when you withdraw at least 200.00USD of profits.
This is how they work. Lets say you deposited 100.00USD and made 200.00USD. If you want to withdraw 300.00USD,
100.00USD will go back to your card with no charge and 200.00USD will be sent to you via wire transfer.
The brokers use a liquidiy provider that is the one that makes the charge depending on where you live.
My broker charges 1.5% and will then use a lower conversion rate to convert to local currency.
This is never my problem, as I have only been withdrawing profits.
Hi jorgemontero
There is a fee for requesting a bank wire, and the fee for an international bank wire is $40.
Of course there are also free options such as withdrawal by credit card, debit card, Neteller, Skrill, SEPA, and BACS. Neteller and Skrill may charge a fee depending on the amount being received so you should always check with them beforehand. SEPA withdrawals are available if you have a Euro denominated account and your bank account is located in the European Union. BACS withdrawals are available if you have a GBP denominated account and your bank account is located in the United Kingdom.
Our support team is always happy to help you find the best option to avoid withdrawal fees when possible.
Jason
Just think how silly that sounds, its your money and youre being charged to withdraw it. If a bank did that, no one would use them. Drop the broker if they don’t offer free withdrawal options. Transaction costs eat up on your profits anyway now you’re paying withdrawal fees.
Name one regulated broker that does not charge to withdraw profits.
Ig index, intertrader… do research bro. All brokers should have free options. It’s your money!
Intertrader charges 50.00USD
and IG also charges different types of fees.
Sources:
https://support.intertrader.com/s/article/How-do-I-request-a-withdrawal
I found that FXTM does not charge when using Skrill
Lol you answered your own question. Also ig index and intertrader don’t charge to withdraw.
They dont charge with Skrill but skrill charges you, so in the end, you have to pay to withdraw your money.
Nah bro forget skrill. Just withdraw back to your debit card and there’s no charge. I use them both and have never been charged to withdraw. Don’t know how you’re withdrawing from them that you’re being charged. I would recommend to call them if they’re charging you. It’s unacceptable.
Bro, what happen is that brokers only allow you to withdraw back to your card if it is the amount that you deposited, for profits you need to use a different method.
good thread, I shall be following this with interest 
After searching this is what I found:
XM .com does not charge withdrawals when the profits are more than 200.00USD. However, I am a swing trader and their swap charges are too high.
At this moment I am testing FXTM, you can open an account that is swap free with them. But the withdrawals must be done using skrill so you dont pay a withdrawal comission for profits.