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(binned per thread starter’s request) Broker withdrawal problems?

  • #1
  • First Post: Edited Feb 18, 2021 1:57pm Sep 28, 2020 12:04am | Edited Feb 18, 2021 1:57pm
Observer effect
  • #2
  • Sep 28, 2020 10:35am Sep 28, 2020 10:35am
Quoting ryuryu
Trying to withdraw, everything was ok until las week. Now I always got this message: {quote} I have contacted my bank and they said that there was no incoming transactions. So ICmarkets lie? Who has the same problems?
no issues thus far. withdrew 40k via bankwire at 5am SGT. money was in bank by 9pm SGT.

i would suggest you withdraw via wire. some credit cards dont allow chargebacks. esp europe where regulation has become a jumbled mess no one knows what is what anymore.
  • #3
  • Sep 28, 2020 11:08am Sep 28, 2020 11:08am
I suggest you to try as Bicarus said.

Over a certain period of time it is not possible to withdraw back to credit cards. You have to use bank wire or other options that are available to you by the broker.
  • #4
  • Sep 28, 2020 11:24am Sep 28, 2020 11:24am
Thanks guys, will try wired next time!
Observer effect
  • #5
  • Sep 28, 2020 11:52pm Sep 28, 2020 11:52pm
Some banks only allows "refund" to be made to credit/debit cards and "payment" is not allowed.
This is a transaction type initiated by the sender.
This is to prevent money laundering.
But some banks allowed all sorts on incoming transfer to the card.
  • #6
  • Sep 29, 2020 11:57am Sep 29, 2020 11:57am
They always "refund", because extra money you can get only using wired transfer. And everything was okay till last week. Tried to wd to another card (another bank issued), still waiting...
Observer effect
  • #7
  • Oct 1, 2020 7:37am Oct 1, 2020 7:37am
Tried to wd using another card. They say they can't verify. Then tried wired. They said they can't verify and I have to upload more documents.
Seemd to me icmarkets have some problems. Also they said they have changed their policy.

Quote
Kindly note that due to recent changes in our payment providers' policy, we are no longer able to offer the particular credit/ debit card deposit option.
Observer effect
  • #8
  • Oct 1, 2020 9:47am Oct 1, 2020 9:47am
Quoting ryuryu
Tried to wd using another card. They say they can't verify. Then tried wired. They said they can't verify and I have to upload more documents. Seemd to me icmarkets have some problems. Also they said they have changed their policy. {quote}
No issues. As i have said. Regulation are ever changing to the point where many are unaware.

In europe for example. Esma has blocked visa/mastercard from being used as funding options..

Just provide your bank statement. Its just kyc policy. To show your name and identity is similar with registration details.
  • #9
  • Oct 1, 2020 11:39am Oct 1, 2020 11:39am
But how to fund then? Only wired?
Observer effect
  • #10
  • Oct 2, 2020 3:06am Oct 2, 2020 3:06am
Quoting Bicarus
{quote} No issues. As i have said. Regulation are ever changing to the point where many are unaware. In europe for example. Esma has blocked visa/mastercard from being used as funding options.. Just provide your bank statement. Its just kyc policy. To show your name and identity is similar with registration details.
Hello, do you know can I deposit via card, then withdraw via Skrill? No ESMA, no FCA.
  • #11
  • Edited Oct 3, 2020 12:42am Oct 2, 2020 3:29pm | Edited Oct 3, 2020 12:42am
Quoting ryuryu
Trying to withdraw, everything was ok until las week. Now I always got this message: {quote} I have contacted my bank and they said that there was no incoming transactions. So ICmarkets lie? Who has the same problems?
I use PayPal to deposit and withdraw from IC Markets all the time without issue.
This also gives you the benefit of instant funding when depositing.
It also means you won't have to give them additional documentation. Though if you do give them a bank statement, remeber you can redact all of the transaction information you want to keep private, they're only after your personal details on an official document. No need to disclose your mortgage repayments to them unnecessarily..
  • #12
  • Oct 3, 2020 3:54am Oct 3, 2020 3:54am
Quoting drayzen
{quote} I use PayPal to deposit and withdraw from IC Markets all the time without issue. This also gives you the benefit of instant funding when depositing. It also means you won't have to give them additional documentation. Though if you do give them a bank statement, remeber you can redact all of the transaction information you want to keep private, they're only after your personal details on an official document. No need to disclose your mortgage repayments to them unnecessarily..
Does Paypal accept forex funding without requesting 1000 documents and justifications? They usually do.
  • #13
  • Oct 3, 2020 11:13pm Oct 3, 2020 11:13pm
Quoting landorra
{quote} Does Paypal accept forex funding without requesting 1000 documents and justifications? They usually do.
PayPal have never asked me for any documentation and I've transferred multiple >$1k transactions.
I think the problem the OP might be running in to is either due to not fully understanding how AML is applied (it's a FIFO system), or the bank's own AML protections.
e.g. If you deposit $100 from your CC then later $800 from your bank account you can't request any of the $800 back to your CC, it has to go back where it came from, no matter how long it's been.
I did run in to this myself a while back, though it was IC Markets themselves who declined the withdrawal. I used to use EFT though since then I've only used PayPal as it's faster for both deposits and withdrawals. PayPal say it can take 2-3 days for a withdrawal to your linked bank account, though I find it's always there next day.
  • #14
  • Oct 7, 2020 2:40pm Oct 7, 2020 2:40pm
Okay seems everything is okay now, they allowed to wd. But I'll keep an eye.
Observer effect
  • #15
  • Oct 8, 2020 4:40am Oct 8, 2020 4:40am
Don't you should ask your bank. because, there are some banks that need to ask them
  • #16
  • Edited 10:40pm Nov 2, 2020 1:34pm | Edited 10:40pm
Unfortunately ICmarkets withdrawal problems again and again...
Trying to wd using same method, same card. But they send emails that my bank declined the transfer. I have contacted my bank and they said there were no incoming transactions at all.
Then I wrote to support. And know what? That email was not true. They want me to wd using bank wire (and pay everytime I wd).
This is never ending story... again that song about bank statement, bank details (which are already uploaded, verified and accepted)...
Observer effect
  • #17
  • Nov 3, 2020 2:14am Nov 3, 2020 2:14am
Never had issues for years.

When they tell you to contact the card issuer your bank is most likely NOT your adress to run to. A credit card company like Visa or MasterCard is the one to look for the problem.
  • #19
  • Nov 4, 2020 1:55pm Nov 4, 2020 1:55pm
Still can't wd from icmarkets, now via bank wired. They are asking me more and more documents.

So I have several problems with ICmarlets that make me think they are scammers.

1. There are no 2fa account security
2. There are no information what fund method was used, how much money left for what card/method
3. They are violating their own rules that you can withdraw as much as you have deposited
4. They send fake data about card issuer bank problems
5. Chat in clients area always asking if I'm a client and then support ask for my email

All this is very unprofessional and strange. It seems to me everything made not to pay you back. And this is "biggest" broker?
Observer effect
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