, a Cyprus-based and regulated Forex broker, has boosted its system for funds withdrawal and now offers automatic withdrawals to its clients who have validated trading accounts.
Do not frown when you hear a “validated account” - this simply means that the trader has sent a proof of address and ID to the broker, a common procedure when opening a live account. Once you have such an account, you can withdraw funds using the new system which will allow instant deduction of the desired amount from you trading account. By the way, the change results in automatic updates of the balance of your trading account, so you won't get lost about how much money you have.
If you wish to make use of the automatic withdrawals, you should simply log into the Members Area and select the method for taking away your money. A very good piece of news is that XM is a Forex broker that offers a truly wide variety of withdrawal options: six types of credit card systems; six types of e-wallets, including popular ones like Skrill/Moneybookers
; and traditional options like bank wire.
Here are a couple of things to have in mind if you decide to withdraw funds and take advantage of the automatic processing:
- The withdrawals will be directed automatically to the source of the deposit. This means that if you deposited with a certain credit card, you'd get the money back to this credit card.
- In case you've used more than one method to deposit money, there is a hierarchy of the methods for getting your money back: first are the credit/debit cards, then the e-wallets, and the other methods come last.
It's useful to know that there are some minimal thresholds for the amount of money you withdraw – it's at $200 for bank wire transfers but only $5 for all other methods.
XM has a robust reputation of facilitating money transfers for its clients. Back in August, for example, the broker introduced a series of deposit methods
, including CashU – in a move to ease payments in countries ranging from Bahrain to Hungary.
XM.COM is a registered brand name of Trading Point of Financial Instruments Ltd, a European regulated financial institution licensed by CySEC. Trading Point of Financial Instruments Ltd operates online services for trading on forex, precious metals, equity indices, and energies in compliance with the Markets in Financial Instruments Directive (MiFID). Trading Point is EEA authorized and registered with the FCA UK (previously FSA UK), BaFin (Germany), AFM (Netherlands), CNMV (Spain), FI (Sweden), and FIN (Finland).