Transactions

How to Withdraw Money After Successful Transactions

It is not difficult to become a trader: no degrees or special knowledge are required, the initial investments are low, and you can work without leaving your home. However, an easy start does not mean an easy profit. Most experienced traders confirm: success depends on many factors, including hard work, planning, discipline, and constant market research.

As in other industries, there are certain principles the observance of which can significantly increase the chances of success. However, as soon as the successful transaction is finished, it is time to proceed to the withdrawal. How to do that in the correct way?

 

The Ways of Cash Extraction From the Broker’s Account

Experienced market players recommend using several methods that have already been tested by time. Some options are more suitable for traders working with large sums, some — for beginners with low earnings. The extraction process is often quite simple and consists of two steps. To do this, the trader needs:

  1.     Authorize on the broker’s website;
  2.     Send a cash-out request.

After that, the application will be sent to the specialists of the brokerage company. Thus, the client does not need to waste time anymore. Extracting cash from the account is carried out in several ways. The most reliable and popular include:

  • bank transfer;
  • credit/debit cards;
  • broker cards;
  • electronic payment systems (WebMoney, Qiwi, etc).

At the same time, traders should take into account that the broker processes requests for extraction promptly, while banks and payment systems process transactions not so quickly. In addition, financial institutions charge a certain commission for withdrawing funds.

 

How to Transfer Money to a Credit Card?

Users select credit or debit cards (Visa/MasterCard) to withdraw profit very often. In this case, a payment order is executed in your personal account. Having specified the details, the trader must confirm the transaction using a unique code, which is sent to the phone number or e-mail specified during the registration. Money is credited to the card by the bank within three business days.

 

Placing Cash to E-wallet

The extraction of profit from an e-wallet is especially popular among people. The commission is not very high, which is no more than 1{c620edae70df41fdc9eb72028f883fd74d7e8e4a02567822b846d1c364d276c4}. The money that is debited into the wallet can be withdrawn to a card or cashed. When selecting a payment system, it is necessary to familiarize yourself with the commission size charged during the transactions and the time for it. It usually varies in 1-2 business days.

 

Broker Cards: Pros and Cons

Some trading companies offer their customers the possibility to withdraw profits to a broker card. The advantage of this option is complete confidentiality, and this is due to the fact that accounts are often open in the offshore zone. This method has also drawbacks. So, the broker charges a certain fee for using the card, and the trader also pays a commission for extraction via ATM. Thus, brokerage cards are not entirely beneficial for novice traders who work with small amounts.

 

In Conclusion

To extract profit from Forex without problems, you have to pay attention to this issue. Therefore, before you register an account with a certain company and deposit cash, you should study the methods and terms for withdrawing money that this company offers. Doing these simple steps will save your nerves and efforts in the future.