In this article, we will explain whether there are cases in which you cannot safely withdraw money during FXGT trading, the causes and how to deal with them. Once you have actually made a trade and made a profit, you will want to withdraw the funds. However, you may not be able to withdraw money for some reason. And in the case of these brokers, the issue of withdrawal refusal is a concern. Is it possible for a withdrawal to be refused?
Are withdrawal refusals actually happening?
In the FX industry, there are common cases where withdrawals are often refused by any broker. At GT Group, the company will not take the initiative to refuse withdrawals. So far, there have been no cases of withdrawal refusals. However, there are exceptions. That’s when you violate company rules. Please refer to the following article for what kind of prohibitions are included. If any of these apply to you, your account may be frozen. In that case, you have to contact the support center and unfreeze it.
Information is confusing
When I look at X (twitter)’s SNS etc., I get the impression that information is mixed up. It seems that some users are making a fuss because they have created multiple accounts, resulting in a violation and being refused withdrawals. It seems that there are also other users who have been frozen for fraudulent use of bonuses. If you pay attention to the points mentioned above, this probably won’t happen as often. If anything, I think there are many good reviews and there is no risk.
assets are protected
Your assets are always protected by a mechanism called ewallet, so there is no chance of hacking. There is a risk of loss in the market, but your funds are protected. ewallet is said to be safer than other companies in the same industry (titanfx, gemforex, threetrader). Upon investigation, it appears that there is no trust protection at the head office in Seychelles, but there is separate management. There is also a liability insurance system in euros, and there seems to be auditing from a third party.
Solution when you can’t withdraw
As a solution when you are unable to withdraw money, we will introduce the following actual cases. please refer. If you can’t find a solution, we recommend contacting support. Please refer to the article below. We recommend that traders allow high leverage, zero cuts, scalping, double-denomination, etc., but there are cases where stickpay, bitwallet, credit cards, and bank transfers are not possible. Violation of terms and conditions, such as misuse of bonuses, may result in problems with receiving funds and providing services.
Withdrawal rules
The following rules apply to withdrawals. Please note that if you do not follow the rules, your withdrawal will be rejected. Please also check the official website and terms of use from your My Page on the home page. Credits received from campaigns and bonuses cannot be withdrawn, even if selected. In the settings, only funds earned separately from financial products in MT can be withdrawn. For details on the previous stage, please check the news and blogs on the website. In the worst case scenario, residents may not be able to withdraw.
You can only withdraw to an account with the same name
When making a withdrawal, if the name registered in FXGT and the name registered in the bank account or online wallet to which the withdrawal is made are not the same, the withdrawal will not be possible. Please note that if we cannot confirm that it is the same person, the withdrawal process will be refused. If the IP addresses are different, it is not allowed to operate multiple accounts.
Account activation
When you open an account, you must at least activate it afterwards. This means sending in proof of identity and address. After that, you will not be able to withdraw money until the staff has visually inspected your payment. I have to wait until I submit it and it gets accepted. Financial assets cannot be deposited into the system. This also applies to different services such as those from other companies (XM, Axiory, BigBoss, etc.).
Withdraw using the same method up to the deposit amount
You often don’t think about it when making a deposit, but when withdrawing money, you need to use the same method as the deposit method. This is to prevent money laundering. You can withdraw your profits using any method you like. There are posts and rumors on SNS that question the reliability, but many people do not understand the rules. Even professionals cannot start without basic knowledge of FXGT.
Credit card/debit card authentication
If you wish to withdraw money to a credit or debit card, you will need to pre-authorize your credit or debit card. You will not be able to withdraw money until verification is complete. When using it, even if it is expensive, it will be reflected in about 48 hours, but if there is no response, customers should contact the management from the management screen. There should be no malicious refusals, and you can rest assured that we have obtained a license from the Financial Services Agency.
account freeze
Users who violate any rules may have their accounts frozen. In this case, they will not be able to withdraw funds, let alone log in. In this case, you will need to contact the support center from the page to unfreeze your account. If you commit the relevant fraudulent acts and do too many, depending on the situation, the exchange will not have any limits and you will never be able to use the platform again. This is a heavy burden and a very difficult situation. If it is unintentional, the only option is to negotiate via email to have it lifted. In conclusion, there are cases where the restrictions are lifted smoothly.
Payment on weekends and holidays
If you wish to withdraw money to your bank account, the processing will stop as banks are closed on Saturdays, Sundays, and holidays. Therefore, you will have to wait until the next business day to process your withdrawal. In the case of virtual currency, if you make a mistake in the address, or if you make a mistake, or if the remittance fails due to negligence, you are responsible for it, so you will be financially responsible. Make sure you don’t make any mistakes.
bonus withdrawal
Bonuses cannot be withdrawn. Bonuses only serve as margin when trading. Please also note that the bonus will disappear when you withdraw money. This may lead to loss cuts and bankruptcy. Please resign while holding the position. There is no insurance on investments.
Incorrect remittance address
In the case of virtual currency remittance, if you enter the wrong destination address, you will not be able to withdraw the money. If you do it incorrectly, you will lose the amount you sent, so please make sure to copy and paste instead of typing it manually. Then please contact the support center. In the worst case, your balance could become significantly negative.
Cancellation of withdrawal request
If the withdrawal application procedure has not been completed, it is possible to cancel the withdrawal. However, if the operator has already completed the withdrawal procedure, it is no longer possible. Basically, the speed is fast, so users should not operate the official website without fully understanding it. If you want to do it safely, ask the staff any questions you have and resolve them before proceeding. Finally, if the approval is cancelled, the cancellation is complete. Information is updated, so be sure to check the latest information from the operator. For the first time, be sure to take action while watching the market environment.
Withdraw while holding a position
Withdrawals are possible while holding a position. However, there are conditions, and in some cases funds can be transferred up to an amount that does not fall below 200% of the margin maintenance rate after funds transfer. If you enter a high lot, restrictions will be imposed. When funds decrease, a contract is usually executed (loss cut) and there is a possibility of losses. Compensation is not allowed in real life. Customers can learn things from support that they cannot find out online. If it is your first time, think about when it is best to sell and make a settlement before withdrawing.
Wrong registration of withdrawal destination account
When withdrawing funds to a bank account, if you register the wrong account, the withdrawal process will be stopped. You will probably be contacted directly by the support center, so please correct the account on the funds management page. Mistakes are relatively common among both corporations and individuals. If investors have genuine questions or concerns about financial services, they should ask questions first. Members will receive answers from staff in order. If you discover any errors in specific information such as your My Number card or passport when you registered, we recommend correcting it.
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