According to recent statistics, the daily trading volume of the global forex markets is currently more than $6.5 tln.
Such a high money turnover confirms that FX trading is a prevalent business worldwide. However, experts claim that dealers may get a significant profit only if they follow specific rules. One such recommendation is to pick a reliable payment method. That’s especially essential for a withdrawal account.
Also, specialists advise selecting a trustworthy online broker (for example, FBS). Such intermediaries have corresponding permissions and offer their clients to sign a contract. Moreover, reputable brokers don’t charge huge commissions or additional fees from investors. Nay, reliable brokerage platforms always propose qualitative and safe trading software to their customers.
What Are Withdrawal Methods Available in Forex?
Experienced traders and proficient experts note the following most popular ways to cash out the funds gained within the trading process:
- e-wallets and payment terminals;
- bank cards (Visa or MasterCard);
- online banking and wire transfers.
Additionally, specialists recommend remembering that withdrawal duration depends not solely on the trader’s payment method a trader applies but also on the quality of brokerage site operation. That’s why it’s so important to select a conscientious broker.
What Should Be Known About Bank Cards?
Under recent stats, bulk bank card holders worldwide (except in China) use Visa to perform transactions. Such bank cards fulfil most transfers in USD. On the other hand, MasterCard offers its customers performing payments in US dollars as well as euros. However, this company has almost two times fewer clients.
Also, it’s worth noting UnionPay cards. This payment system stands out for a great number of users. However, it’s popular mostly in China. Nay, experts note American Express bank cards. The specified company is in high demand in North and South America. Such cards are quite popular, for instance, in Great Britain, Singapore, Mongolia, and Sri Lanka., though.
Popular Online Payment Systems
Initially, it should be highlighted Neteller. This is probably the most popular e-payment system among forex traders. The other options are:
- SticPay – proposes huge cashback to FX investors;
- Perfect Money – enable, for instance, purchasing BTC and gold as well as creating e-vouchers;
- Skrill – is widely supported by more than 3,000 hefty banks across the world.
More detail about the payment systems above investors may find, for example, in the topical blog on fbs.com.
What Should Be Known About Forex Withdrawals?
First, checking the verification requirements offered by an online broker is necessary. Here, traders need to make sure that they have all demanded documents. Also, skilled forex investors recommend the next:
- Carefully read the conditions of promotions offered by a brokerage platform. Occasionally, terms of incentives significantly limit the maximum cash-out amount.
- Make sure that verification requirements are applicable. Too high demands usually indicate the intermediaries’ remissness.
- Pass the identification process before starting trading. This will assist in avoiding withdrawal delays and denials.
Sometimes, brokers limit cash-outs even after passing the verification procedure. This may happen, e.g., if an investor has problems with the tax service or withdraw funds by employing third-party details.