So i have just started trading forex online since last month and was recommended to use FxPro by my brother and another friend. Everything was fine, I deposited my money using credit card and paypal, made a few trades, won and lost, as usual. But then the day came when I decided to withdraw some money back to paypal, the transaction request was refused.
And when I called them and asked why, the reason quoted was: I have to withdraw the same amount (or more) of money (the first time I deposited into my account using my credit card), back to my credit card before I can use other withdrawal methods.
I don’t understand why is that so. They were happy to accept whatever deposit method I chose to used (credit card, bank transfer, paypal, Moneybooker, Neteller etc) but when it comes to my first withdrawal, I will have to withdraw it to my credit card, and most ridiculous of all, withdraw the same amount (or more) of money the first time I deposited into my account using my credit card??
For example, if I have deposited $1000 into my account when I opened my account using a credit card, I will need to withdraw at least $1000 back to this credit card, before I can withdraw my money using other methods.
When I asked why, they said it’s the policy. But there was no logical explanation whatsoever why this is the case. It doesn’t sound like a very good or convincing policy at all.
Do you know any other forex brokers who give you this kind of problem when it comes to withdrawing money? Comments and suggestions welcomed.
This is logical. It’s for anti money laundering purposes and is a legal requirement of all brokers.
First time ever read about any withdrawal problems with FxPro, Usually costumers leave replies like “everything is good” or “i have no problems with getting my money back” . I have no issues either. Maybe its because i don’t use my credit card for this? I don’t know.
Vivienne Roodt says
I understand that it has to go back to the account from which the original deposit was made. What I don’t understand, is that it has to be the same amount, which was first deposited. That is absolute nonsense. You should be able to withdraw whatever you want, as long as your account is in good standing.
I rarely hear about such problems with the withdrawals in fxpro. In this component, they seem quite reliable for me. I use both card and PayPal, everything is smooth.