The deposit withdrawal process is indeed a sensitive matter. Apart from convenience, deposit and withdrawal commissions are also special considerations that many traders are looking for. If the deposit commission is too high, the trader will obviously be at a disadvantage because the number of transactions is cut off. So it is not surprising that brokers with low deposit and withdrawal commissions are easier to attract traders. But more than just a small fee, did you know that there are currently forex brokers that can provide free deposit withdrawal commissions? Instead of getting tired of calculating deposit withdrawals that are deducted by the commission, you can try the free deposit withdrawal service at Fx Pro.
FxPro is an experienced broker with an expansion and client base spread across the globe. The broker applies different rules and services in each area, to adjust policies with regulations in each region. For example, UK clients will receive FCA-regulated FxPro UK compliant services. Meanwhile, traders from the Middle East will be facilitated by FxPro Global Markets MENA Ltd., which has been compliant with DFSA (Dubai Financial Services Authority) regulations.
Free FxPro deposit withdrawal That’s why the concept of deposit withdrawal at FxPro also varies depending on the region and its regulations. When compared to deposit withdrawal methods in other areas, the broker’s policy according to CySec rules is the most flexible. You can get a choice of 6 payment methods, which vary from Wire Transfer to popular e-currencies like PayPal and Skrill. Five of the deposit withdrawal mediums are free of commission. Unless you make a withdrawal without opening any trading positions, any withdrawal via credit card and e-currency can be done free of charge. FxPro does not even introduce a penalty for refunds made via PayPal, as long as the transaction is processed within 6 months of depositing via the same method.
Tips for Choosing a Deposit Provider Forex Broker
From the Fx Pro review above, it can be seen that the free deposit withdrawal offers can take various forms. Some hold it as a promotion, some actually apply it as a default policy. In addition, restrictions such as the minimum number of transactions and differences in applications for deposits and withdrawals also vary by broker. Therefore, here are 3 parameters that you need to pay attention to when assessing and considering a forex broker based on free deposit withdrawal services.
1. Service delivery concept
Pay attention to whether the free deposit withdrawal is only provided as a broker promotion or has become a fixed policy at the broker. This is important because promotions are more temporary. Even though the application is long and persistent like in XM, there is always a possibility for the broker to end the promo. You can distinguish the concept of a free deposit withdrawal service by browsing the ‘Promotions’ menu on the official forex broker website. If it is available there, it means that the free deposit withdrawal is offered as a promo only.
2. Frequent transaction limits
Forex brokers only provide free deposit and withdrawal commissions for transactions above a few dollars. So in order to avoid misunderstandings in the future, pay close attention to this policy. If the broker for example includes an article that reads “free deposits for amounts above $100”, then you can’t complain if you top up $50 and are charged a deposit commission.
3. Types of Transactions and Payment Methods
Believe it or not, there are many forex brokers like RoboForex that charge free commissions for deposits only. Therefore, do not be quick to assume that free transaction fees always apply to all types of transactions. Pay attention to whether there are differences in application or further conditions for deposits and withdrawals. In addition, the free commission also does not apply to all payment methods.
It should be noted, free deposit withdrawal is only one of the many considerations when choosing a broker. So it’s best, don’t make this the only reference when you select the most ideal forex broker for trading. Why can deposit withdrawals for free if it turns out that the spread and lot conditions provided by the broker are not in accordance with your trading standards? Therefore, the free deposit withdrawal service should be positioned as a complement in your consideration. The main priority in choosing a broker remains centered on the credibility and specifications of the broker’s trading.
