Problem withdrawing funds from broker

[pc62]

Hi all,

I am new to this forum, but I am not new to FX Trading. I have lost a lot of money in the begining and try to win back some now.

Any way what I am asking is if anyone have the same problem like me.

I have dealing with a praticular broker firm for over 5 years, I haven't have any problem with them before. From last year I do get a little profit here and there. I start to withdraw themn as profit comes along. The firm use the bank which I wire the funds to them as withdraw bank.

I did it few times without any problem. it always come to may account within 3 business day. it is international wiring.

But on the 28th of Feb. 2013 I request a withdraw on my account on Wednesday and it debit my account on the 1st of March 2013 the Friday. Till now I still not receive my funds.

I live chat with the broker firm. they told me last friday the 8th of March 2013, say they will forward to matter to the funds team to investigate. and they will get back to me as soon as possible.it is two business day gone I haven't hear from them.

Is it normal to take that long to get back to their client? any one have any problem like this before?

Thank you.

 

[Shakone]

Re: Problem withdraw funds from borker

Who is the broker?

 

[pc62]

Re: Problem withdraw funds from borker

I don't want to disclose the broker yet. I just want to know if it is the common pratice to take that long. if I don't hear from them this weekend then I will disclose the name of the broker.

 

[soumpro]

Re: Problem withdraw funds from borker

if I could know the name of the broker you use I could help you, some online broker is a scam.
I advice you to ask the broker you use.

 

[pc62]

Re: Problem withdraw funds from borker

if I could know the name of the broker you use I could help you, some online broker is a scam.
I advice you to ask the broker you use.

Is there any large broker in trouble lately? I mean fairly large and longtime broker.

 

[Lightning McQueen]

Re: Problem withdraw funds from borker

you should name and shame them immediately. if they are in trouble members need to know.

if later it's found to be a genuine error on their part and your funds are paid to your satisfaction the thread can be updated accordingly.

 

[pc62]

They email me that they reinstate the transfer again so that I should get the fund 1-3 business day from today. I will wait and see what happen. they didn't give me a reason, because of this . I kind lost confident on them, I will try to withdraw some more funds just to see what happen.

 

[bigmistake]

Don't go crazy, just take calm and deal with them to take your money. If you name and shame them here, it's hard for you to come back with that broker again. This might be one time mistake.

 

[pboyles]

Re: Problem withdraw funds from borker

Is there any large broker in trouble lately? I mean fairly large and longtime broker.

If the past year is anything to go by a lot of them are in trouble. Of course you won't know for sure until they go bust. I hope you went with a broker regulated in a proper country, not some offshore crooks.

 

[pc62]

Well the withdraw finally come to my bank. I request another withdraw with a larger amount. I will see if I have any problem with this one. If I have problem then I will take time draw out all the funds. If it go through without any problem I will stay with them. They do have some nice benefits.

Thank you guys. I will report back.

 

[nw24x]

Well the withdraw finally come to my bank. I request another withdraw with a larger amount. I will see if I have any problem with this one. If I have problem then I will take time draw out all the funds. If it go through without any problem I will stay with them. They do have some nice benefits.

Thank you guys. I will report back.

Sorry to hear about your problems with your broker. Can you pm me their name?
I want to check if it is my broker. Thanks.

 

[pc62]

I have requested another withdraw nearly ten time larger than the one last time. it deducted in my account yesterday and it came through this afternoon. I guess the last one is a geniune error as it is kind small request. so It is good. the broker has branch in England and the fund is protected by the English authority, it also have branch in Asia and the USA. My account is in The USA and I think the fund is not protected. That is why I am worry.
Well since things go well I will stay with them hope for the best.

Cheers

 

[neil]

I have requested another withdraw nearly ten time larger than the one last time. it deducted in my account yesterday and it came through this afternoon. I guess the last one is a geniune error as it is kind small request. so It is good. the broker has branch in England and the fund is protected by the English authority, it also have branch in Asia and the USA. My account is in The USA and I think the fund is not protected. That is why I am worry.
Well since things go well I will stay with them hope for the best.

Cheers

You say your broker is TD ?
"The problem is that most of these brokers are not taking off shore client anymore. I am with TD and this one from long time ago, more than 15 years. I just can't understand why they offer the trading hours differ than others as it may lost clients because of that,. I can't move all my trading to TD because I can't put all my eggs in one basket in case something happen to the broker. It is a very large broker with international branches all over the world. I don't have any complain with their service except this limitation"

 

[pc62]

No this is a different brokers. I use TD Amertrade for stock trading. the FX trade broker is different. so please don't mix them. the problem solved it is not problem anymore.

 

[bigboyfx]

Don't go crazy, just take calm and deal with them to take your money. If you name and shame them here, it's hard for you to come back with that broker again. This might be one time mistake.

Why wouldn't he disclose the name of the broker. If a broker is given me a hrad time withdrawing my money, I would protect them for anything. If they are doing good, I'll also say something nice about them and mention their name. I use profiforex and withdrawals are very good, but the moment they change that, I won't protect their reputation.

 

[Eagle_]

Never had such problems with my broker Weltrade. They provide money withdrawal within 30 minutes.

 

[bigmistake]

Actually I'm trading with HotForex and nothing bad happen with all my withdrawal requests so far.

 

[Splitlink]

If the past year is anything to go by a lot of them are in trouble. Of course you won't know for sure until they go bust. I hope you went with a broker regulated in a proper country, not some offshore crooks.

You should be ok with a UK broker. I was with Mitton, Butler & Priest when they went under the hammer. My new broker got my funds over for me. That must have been around 1979/80.

Nevertheless, it's a worry that I hope that will not happen to anyone. It will, of course, to someone. Just make sure that he belongs to the UK brokers institution_--can't remember the name,

 

[ForexLion]

Hope you will get your money soon

 

[Crunchy1]

Yes, I also would like to know which broker is that so I would not deposit any money with it.