How to make a withdrawal?
You can withdraw funds from your trading account at any time, and doing so is very simple. Before making a withdrawal, you should consider a few things. For example, if your identity or bank account is not properly verified, or you have open positions, you might run into issues. Depending on your situation, there could be unnecessary complications to your withdrawal.
Making a withdrawal request
You can withdraw funds from your trading account to the original payment method used to deposit. The amount you can withdraw to the original payment method cannot exceed the amount you deposited. Supposing you made a profit from your trading, you must withdraw the excess amount to your bank account. To ensure you can withdraw your profits, please ensure your identity and bank account is properly verified.
Identity and bank account verification
We can only process withdrawals for customers who have passed our identity verification and verified their bank account too. To verify your identity, you’ll need to upload proof of identity and proof of address. For more information, refer to [xxx].
To verify your bank account, you’ll need to visit the “Payment Verification” section of the MyZFX portal, enter the requested information about your bank, and upload a copy of your bank account statement as proof. Our specialists will review within approximately 24-hours.
Check your trading account margin
Withdrawing funds from your trading account balance directly impacts account margin. If the margin level falls too low, it can lead to margin-call, preventing you from opening new positions and even stop out, which begins liquidating your positions.
The best-case scenario is to make withdrawals without any open positions unless you are confident that you’ll have more than enough margin to maintain your positions.
How long does a withdrawal take?
How long a withdrawal takes depends on the payment method used. Supposing there are no issues with the information provided, our finance team will process the withdrawal within 24-hours.
What is the minimum I can withdraw?
The minimum amount you can withdraw is US$15. However, this depends on the withdrawal method you’re using.
Are there any fees to make a withdrawal?
ZFX does not apply any fees for making deposits or withdrawals. However, that doesn’t mean your bank or the third-party payment provider you used won’t charge a fee, especially if your account is not denominated in US dollars. In which case, you’ll likely experience currency conversion costs.