Withdrawing your funds from your RoboForex trading account is an important part of managing your investments. Whether you want to cash out your profits or need to access your initial deposit, understanding the withdrawal process can help ensure a smooth transaction. This comprehensive guide will walk you through each step of withdrawing money from RoboForex, from selecting a withdrawal method to tracking your transfer status.
Outlining the RoboForex Withdrawal Process
The RoboForex withdrawal process consists of several key steps:
- Select a withdrawal method – RoboForex offers a variety of withdrawal options including bank wire, e-wallets, debit/credit cards, and more. Choose a method that matches how you funded your account.
- Specify withdrawal amount – Decide how much you want to withdraw from your RoboForex account balance. Note the minimum and maximum limits.
- Verify your identity – RoboForex will require identity verification before approving withdrawals. Provide any requested documents to confirm your account ownership.
- Check fees and processing times – Each withdrawal method has different fees and handling times. Review them to choose the optimal transfer method.
- Submit withdrawal request – Initiate the withdrawal through your secure Client Area. Double check all details before submitting.
- Track withdrawal status – Watch your Client Area and email for status updates on your withdrawal. Expect processing times to vary.
- Confirm completion – Once the transfer is complete, the funds will show as withdrawn from your RoboForex account. Log in to confirm.
Understanding the key steps helps set proper expectations before withdrawing your money from RoboForex. Now let’s look at each phase in detail.
Step 1: Selecting Your RoboForex Withdrawal Method
RoboForex offers a flexible range of withdrawal options to access your funds in a way that suits your needs:
- Bank Wire Transfer – Withdraw directly to your bank account. Available internationally with moderate fees.
- E-Wallets: Instant withdrawals to digital wallets like Neteller, Skrill. Low cost with global access.
- Debit/Credit Cards – Convenient withdrawals back to your card. Best for small amounts due to higher fees.
- Internal Transfer – Move funds between your RoboForex accounts quickly and freely.
The best method depends on factors like:
- Where you are located
- How much you are withdrawing
- Which method you used to deposit
- How quickly you need the funds
Review the full list of RoboForex withdrawal options before selecting the best choice for your situation.
Key Guidelines When Choosing a Withdrawal Method:
- Withdrawals usually go back to the original deposit method. So if you deposited via Skrill, withdraw to Skrill.
- Larger withdrawals over $1000 are best through bank wire or internal transfer to avoid fees.
- Debit/credit card withdrawals incur higher fees, so use for smaller amounts only.
- E-wallets like Neteller allow fast access to funds, making them ideal for urgent withdrawals.
Selecting the optimal withdrawal method is crucial to avoiding delays and paying unnecessary fees. Consult the RoboForex withdrawal guide and consider your situation.
Step 2: Specifying Your RoboForex Withdrawal Amount
The next step is deciding how much money you want to withdraw from your RoboForex trading account.
When you submit a withdrawal request in your Client Area, you will need to specify the exact withdrawal amount. Here are some tips for determining the right amount:
- Check your current RoboForex account balance to see your total available funds. You cannot withdraw more than your balance.
- Account for any open trading positions or pending orders, which will deduct from your withdrawable amount. Close any active positions first.
- Note the minimum and maximum withdrawal limits for your selected withdrawal method. For example, the minimum bank wire transfer is $100.
- For large withdrawals over $1000, do multiple smaller transfers instead to allow account flexibility.
- Double check conversion rates if withdrawing in a different currency than your account currency.
- Withdraw only what you need. Excess withdrawals tie up capital that could be used for trading. Monitor your account leverage levels too.
- Always leave sufficient funds to keep your account active. Check for any minimum account balances.
Carefully choosing your withdrawal amount helps avoid delays, account restrictions, or tied up funds. Start low if uncertain. You can always request additional withdrawals.
Step 3: Verifying Your Identity on RoboForex
For security reasons, RoboForex will ask you to verify your identity before approving withdrawals from your account. This crucial step protects against fraud and confirms your account ownership.
What ID Verification is Needed?
To withdraw money, RoboForex will require verification documents including:
- Passport or National ID – Upload a color high resolution copy of your passport pages or both sides of your National ID card. Make sure your document is valid and not expired.
- Proof of Address – Provide a recent utility bill, bank statement or government issued document showing your full residential address. It should match the address listed on your RoboForex account.
- Selfie Photo – Take a clear selfie photo holding your Passport or National ID next to your face. Make sure your entire face and verification document is visible.
Without proper verification on file, your withdrawal requests will remain pending for security review.
Tips for a Smooth Verification Process:
- Check your Client Area to see if your account is already verified before withdrawing. Look for a blue “Verified” badge.
- Make sure your verification documents are high quality, in color, with all text readable. Blurry or incomplete documents will be rejected.
- Personal details like your name, address, and date of birth must perfectly match across all documents and your RoboForex account.
- If asked for additional documents or corrections, provide promptly to avoid withdrawal delays.
- The verification process can take 1-3 days in most cases. Urgent withdrawals may be faster if pre-verified.
Submitting proper verification documents in advance allows you to withdraw smoothly when needed.
Step 4: Checking RoboForex Withdrawal Fees and Processing Times
Withdrawals from RoboForex are easy and convenient, but it is important to account for any potential fees and processing times associated with your selected withdrawal method. Understanding the expected handling times helps set proper expectations.
Withdrawal Fees
Most RoboForex withdrawal methods have low fees or are even free. However some key considerations:
- Bank Transfers – Free for most countries. But fees up to $50 for wire transfers outside the EEA.
- Debit/Credit Cards – Convenient but expensive at up to 5% per transaction.
- E-Wallets – Typically free or minimal fees under 1% in most cases.
Always review the latest withdrawal fees guide since charges can change over time.
Expected Processing Times
Withdrawal handling times depend on the method chosen:
- Bank Transfer – 2 to 7 business days in most cases globally.
- Debit/Credit Card – Up to 5 days but usually within 3 days.
- E-Wallets – Extremely fast, within 24 hours in most cases.
- Internal Transfers – Instant between your own accounts.
Bear in mind that withdrawal times represent business days for processing, not including weekends or holidays.
If you require urgently fast access to funds, an e-wallet like Neteller is optimal to avoid delays. Plan ahead and withdraw well before you need the funds.
Checking for any potential fees and average processing times for your selected withdrawal method allows you to plan accordingly.
Step 5: Submitting Your RoboForex Withdrawal Request
Once you know the amount you want to withdraw, your identity is verified, and you have chosen the ideal withdrawal method, it is time to officially submit your withdrawal request.
Follow these steps to initiate the withdrawal from your RoboForex account:
- Log In – Access your Client Area using your login email and password. Use the web platform or RoboForex app.
- Open Withdrawal Page – Go to the Withdraw Funds section under your account tools. You can also access through your account statement page.
- Select Method + Amount – Choose your desired withdrawal method, enter the amount, and your chosen account currency.
- Provide Details – Input the bank details or e-wallet address where you want funds sent. Double check for accuracy.
- Confirm Terms – Check the acknowledgement box that you agree to the withdrawal terms and conditions.
- Submit Request – Final review then submit the withdrawal request through your secure Client Area.
You will receive a confirmation message once your withdrawal request is successfully submitted to RoboForex for processing. But the transfer is not instant – expect processing times.
Key Tips for Trouble-Free Withdrawals:
- Withdraw during business hours to avoid delays on nights or weekends.
- Carefully enter all bank and account details perfectly to avoid rejection.
- Start with smaller withdrawals first if uncertain. You can always withdraw more later.
Submitting your secure RoboForex withdrawal request is quick and straightforward. Track its status in the next step.
Step 6: Tracking the Status of Your RoboForex Withdrawal
It is important to closely track the status of your RoboForex withdrawal to ensure smooth processing and access your funds promptly.
After submitting your withdrawal request, you can monitor progress in two ways:
1. Client Area Withdrawal Page
Log into your RoboForex Client Area and go to the withdrawal page. Here you will see:
- Pending – Request received but being processed. Funds still in account.
- In Progress – Being processed but not yet completed. Allow 1-7 days typically.
- Completed – Funds withdrawn from your account successfully. May still be in transit to you.
- Rejected – Problem with request. Check Client Area for details and contact Support if needed.
2. Email Notifications
You will get email updates on your registered email address when the status changes:
- Request received
- Being processed
- Completed withdrawal
- Rejection (if any error)
Checking both your Client Area and email often allows you to get real time updates on your withdrawal progress. Reach out to the excellent RoboForex Support team via live chat or email if you have any concerns.
Step 7: Confirming Completion of Your RoboForex Withdrawal
The final step is verifying that your withdrawn funds have been successfully received into your bank account, e-wallet, or other destination.
Here is how to confirm completion:
For Bank Transfers, check your bank account online or contact your bank to validate the funds were received into your desired account as expected. It may take 1-7 days to show up.
For E-Wallets, log into your e-wallet account online to check the balance reflects the withdrawn amount. Transfers are usually instant but confirm for peace of mind.
For Debit/Credit Card withdrawals, monitor your card balance and statements closely to ensure the funds were loaded back onto your card as anticipated.
Once the transfer shows as completed in your RoboForex Client Area, you still need to directly confirm receipt of funds on your end. Avoid assuming completion until validated.
Congratulations! By following this comprehensive step-by-step guide, you now understand how to smoothly withdraw funds from your RoboForex trading account. The ability to securely access your capital with ease is an important advantage of the RoboForex brokerage. Just follow the steps outlined above and contact their stellar customer support if you have any questions along the way. Withdraw and grow your wealth smarter with RoboForex.
Frequently Asked Questions About Withdrawing From RoboForex
What is the minimum withdrawal amount at RoboForex?
The minimum withdrawal amount can vary by method. For bank wire transfers it is $100. For Skrill or Neteller it is just $5 minimum. There are no limits for internal account transfers. Review the latest minimums on the RoboForex withdrawal page.
Does RoboForex charge any withdrawal fees?
Most withdrawal methods are free or have negligible fees under 1%. The exception is credit/debit card withdrawals which can have up to a 5% handling charge in some cases. Bank wires outside the EEA also have a $50 fee in most cases.
How long does it take to withdraw money from RoboForex?
Withdrawal processing times vary by method but are generally quite fast. Bank wires take 2–7 days in most cases. E-wallets are instant, or within 24 hours. Internal transfers are immediate. Credit and debit cards may take 1–5 days to post.
What is the best way to withdraw large amounts from RoboForex?
For large withdrawal amounts over $1000, a bank wire transfer is generally the most cost effective option. Internal account transfers are also free. Breaking it into smaller increments can help avoid withdrawal limits too.
Can I withdraw money from RoboForex on weekends and holidays?
While you can submit withdrawal requests 7 days a week, withdrawals are only processed on business days for most methods. Allow extra time for withdrawals around holidays when banks or networks may be closed at times.
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