FXCM Withdrawal - Overview

Editor’s Verdict

Our FXCM withdrawal overview covers everything traders should know about withdrawing funds from FXCM and includes a step-by-step FXCM withdrawal guide.

FXCM Withdrawal at a Glance

Traders will conduct all FXCM withdrawal requests through the secure and user-friendly back office, which manages all financial transactions for verified clients. Withdrawing profits should be as simple as making deposits, and FXCM ensures a hassle-free, swift process. FXCM financial transactions function similarly to online banking.

FXCM Withdrawal Options

Various FXCM subsidiaries list 12 payment processors, including cryptocurrencies and localized bank transfers. Geographic restrictions may apply, and the FXCM back office will only list the ones available to clients. FXCM restricts the withdrawal amount to some payment processors, like credit/debit cards, to the deposit amount. There are no restrictions on FXCM withdrawals via bank wires. Traders should also consider the high currency conversion fees and use multi-currency accounts to avoid 150 pips markups.

FXCM supports the following withdrawal options:

• Bank wires
• Credit/debit
• PayPal
• Google Pay
• Apple Pay
• Open Banking
• Skrill
• Neteller
• Klarna
• Rapid Transfer
• China UnionPay
• Cryptocurrencies

FXCM Withdrawal Fees

FXCM withdrawal fees, processing times, and withdrawal currencies depend on the payment processor and the geographic location of traders.

FXCM withdrawal fees (excluding third-party costs and currency conversion fees):

• Bank wires - $0 to $40
• Credit/debit - $0
• PayPal - $0
• Google Pay - $0
• Apple Pay - $0
• Open Banking - $0
• Skrill - $0
• Neteller - $0
• Klarna - $0
• Rapid Transfer - $0
• China UnionPay - $0
• Cryptocurrencies - $0

FXCM withdrawal processing times:

• Bank wires - Up to 48 hours + up to five business days
• Credit/debit - Up to 48 hours + up to five business days
• PayPal - Up to 48 hours + Instant
• Google Pay - Up to 48 hours + Instant
• Apple Pay - Up to 48 hours + Instant
• Open Banking - Up to 48 hours + Instant
• Skrill - Up to 48 hours + Instant
• Neteller - Up to 48 hours + Instant
• Klarna - Up to 48 hours + Instant
• Rapid Transfer - Up to 48 hours + Instant
• China UnionPay - Up to 48 hours + Instant
• Cryptocurrencies - Up to 48 hours + up to one business day

FXCM withdrawal currencies:

• US Dollar
• Euro
• British Pound
• Swiss Franc
• Canadian Dollar
• Australian Dollar
• New Zealand Dollar
• Japanese Yen
• Cryptocurrencies - various

Noteworthy:

• A multi-currency account can help traders lower currency conversion fees

Steps for Sending the Minimum FXCM Withdrawal

FXCM only processes FXCM withdrawal requests for verified clients, as mandated by AML/KYC rules stipulated by its regulators. The name on the payment processor must also match the name on the FXCM trading account.

Below are the FXCM withdrawal steps:

1. Log into your FXCM back office.

2. Navigate to “Withdraw Funds.”

3. Choose your trading account if you have multiple ones, select your preferred payment processor, enter your desired withdrawal amount (ensure you have sufficient free margin to cover the withdrawal), and click “Submit.”

4. The finance department usually processes all withdrawal requests within 48 hours.

Conclusion

Verified clients can request their FXCM withdrawal from the secure, user-friendly back office. The process functions similarly to online banking systems, and traders can complete an FXCM withdrawal request in less than one minute. Our FXCM withdrawal review found twelve payment processors, but geographic restrictions apply. The FXCM back office only lists the ones traders can use to request their FXCM withdrawal so this may be less than 12 for many clients.

There is no FXCM withdrawal minimum, but traders should consider third-party withdrawal fees and check with their payment processor on potential minimum withdrawal restrictions. Most international traders must use a US Dollar base account and should consider currency conversion fees, which are 150 pips over market rates on transactions below $10,000 at FXCM. Bank wires face FXCM internal withdrawal fees of up to 40 currency units, while no fees apply to most other payment processors. Feel free to read our FXCM full broker review.

FAQs

What are FXCM’s withdrawal methods?

FXCM’s withdrawal methods are bank wires, credit/debit cards, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller, Klarna, Rapid Transfer, China UnionPay, and cryptocurrencies.

How much is the minimum withdrawal at FXCM?

FXCM does not have an FXCM withdrawal minimum.

How do I withdraw all my money from FXCM?

You can do this by closing all open positions to have a cash-only balance. You can then request an FXCM withdrawal of the entire amount via bank wire.

How long do FXCM withdrawals take?

FXCM processes all FXCM withdrawal requests within 48 hours.

What are FXCM’s withdrawal fees?

Most FXCM withdrawal methods are free, but bank wires may cost up to 40 currency units of the base account.

Does FXCM let you withdraw?

Yes, FXCM processes all valid FXCM withdrawal requests for verified clients.

By DailyForex.com Team

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.