How To Withdraw Money From Forex

Forex.com withdrawal at a glance

Whether you are using an online broker for short-term trading or for longer-term investments, there will come a point when you may want to enjoy the fruits of your trading activity if you've been making profitable transactions, or you just need access to your funds for any reason. To do that, first you have to withdraw money from your broker account.

That doesn't sound very complicated, but brokers differ considerably in what withdrawal options they offer (such as bank transfer or credit/debit cards), as well as in the speed and convenience of withdrawal. And while withdrawal at many brokers is free in most cases, some brokers and some types of withdrawals may involve a fee.

So how does Forex.com fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from Forex.com and how Forex.com's withdrawal fees and options compare to some of its close competitors.

Forex.com withdrawal fees and options snapshot
	Forex.com	FXCM	Pepperstone
Bank transfer	Yes	Yes	Yes
Credit/debit card	Yes	Yes	Yes
Electronic wallets	Yes	Yes	Yes
Withdrawal fee	Free withdrawal	Free for credit/debit cards, but bank transfer can cost up to $40	Free for credit/debit cards and bank transfer in Australia, but it charges $20 for international bank transfer; 3% for PayPal and $1 for Skrill

Withdrawal via bank transfer is by far the most common option. It is available at basically all brokers, and Forex.com is no exception.

In addition to bank transfer, Forex.com also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for Forex.com.

You can also withdraw money to electronic wallets. This is a nice feature that isn't available at all brokers. At Forex.com, you can withdraw money to the following electronic wallets: Paypal.

Speed also matters. Unlike some deposit options, withdrawal is rarely instant. It usually takes at least 1 business day, but often several business days for your money to arrive.

We tested withdrawal at Forex.com and it took us more than 3 business days - a little bit on the slow side compared with most other brokers.

To withdraw money from Forex.com, you need to go through the following steps:

Log in to your account
Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
Enter the amount to be withdrawn, and, if prompted, a short reason or description
Submit your request

Whatever method you use, you may only withdraw money to accounts or cards that are in your name.

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. International bank transfers and wire transfers in particular can sometimes incur high fees, so always check carefully if this is something that would apply to your transactions.

We have good news for you: basic withdrawal at Forex.com is free of charge. See the table below for details and possible exceptions, as well as how Forex.com compares with some of its immediate competitors.

Forex.com withdrawal fees
	Forex.com	FXCM	Pepperstone
Domestic bank withdrawal	Free withdrawal	$25 fee per withdrawal	Free for bank withdrawal in Australia
International bank withdrawal	Free withdrawal	$40 fee per withdrawal	$20 fee per withdrawal
Credit/debit card withdrawal	Free withdrawal	Free for credit/debit cards	Free for credit/debit cards
Electronic wallets withdrawal	PayPal is free	Not available	3% for PayPal and $1 for Skrill

Want to stay in the loop?

Forex.com withdrawal is free of charge in most cases and you have multiple options for withdrawing your money, making it relatively easy to access your funds.

To see how Forex.com's withdrawal fees and options stack up against the rest of the brokerage market, check out our broker comparison tool.

Author of this article

Author of this article

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

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