Problem Payment Verification and Withdrawal with Fxtm

[Pateeto]

I joined FXTM in 2022 and never made any attempt to make a withdrawal, whenever my account runs down, i was always refunding it but sometime in August 2023, i made an attempt to withdraw $10 from my account but my withdrawal was not effected. On their website they said withdrawal to local bank account takes 30 minute while card withdrawal takes 3 to 12 working days. I decided to withdrawal to my bank account because when i funded my account it was done with my debit card in my local currency from my bank account. When i contacted them to know why my withdrawal was not carried out, i want told that my payment verification has not been verified and was asked to get a bank statement showing the deposit made to them. i got the bank statement that showed the deposited i made and uploaded it to my dashboard so that my payment can be verified but after 72 hours it was not verified so i sent a mail to the back office to know why the payment verification had not been effected but the response i got from them was so shocking. The backoffice asked me to send a bank statement showing transfer ID9373007 that was made with account number. The bank statement given to me at my bank showed my account and the date the transaction was done,, the bank statement don't does not reveal transfer ID ever since i have been requesting for bank statement from my bank but because they don't want me to make any withdrawal from the account came up with this excuse of bank statement with transfer ID and refused to verify me.. The bank statement was is carrying my name, my account, and it also showied the date the transfer were made but this fraudulent broker don't want to verify my withdrawal . They just want you to deposit and give them your money. Don't go near them because you will regret it.

 

[compu-forex]

Hi Pateeto,

I have used FXTM in the past and have withdrawn tens of thousands of Euro from them, so it is highly improbable that they are trying to steal your $10.

Brokers have very strict money laundering rules that they and, ergo, you, have to comply with. Accodingly, you have to withdraw using the same method that you used to deposit. Even though card withdrawal(I assume credit card) may be shown on their website, it would not be available to you until you had made a credit card deposit, and even then they may still require you to withdraw to your bank account until you had withdrawn all the funds using that method. The rules vary from broker to broker, so make sure you have studied their deposit and withdrawal rules.

In order to resolve your issue, it will be useful if you can look at what they are trying to achieve here - they require proof that the account belongs to you, and that you did the deposit transaction. I don't know where you are from, but all banks provide a transaction notification that should indicate the amount and the beneficiary - there should be a transaction reference number on that transfer notification, so I find it strange that you say your bank does not provide any reference. I can understand why FXTM is concerned.

That said, don't get too hung up on the transaction reference - I'm sure if you can show the transaction notification/transfer receipt with the FXTM bank details on it, that would be undeniable proof that you did the transfer. Once you have provided that information, and still have a problem, kindly upload here what you have sent, so that members may be able to make an assessment of the reasonableness of FXTM and your positions. You should also upload the emails that have been sent to and from FXTM.

 

[FxMaster]

I joined FXTM in 2022 and never made any attempt to make a withdrawal, whenever my account runs down, i was always refunding it but sometime in August 2023, i made an attempt to withdraw $10 from my account but my withdrawal was not effected. On their website they said withdrawal to local bank account takes 30 minute while card withdrawal takes 3 to 12 working days. I decided to withdrawal to my bank account because when i funded my account it was done with my debit card in my local currency from my bank account. When i contacted them to know why my withdrawal was not carried out, i want told that my payment verification has not been verified and was asked to get a bank statement showing the deposit made to them. i got the bank statement that showed the deposited i made and uploaded it to my dashboard so that my payment can be verified but after 72 hours it was not verified so i sent a mail to the back office to know why the payment verification had not been effected but the response i got from them was so shocking. The backoffice asked me to send a bank statement showing transfer ID9373007 that was made with account number. The bank statement given to me at my bank showed my account and the date the transaction was done,, the bank statement don't does not reveal transfer ID ever since i have been requesting for bank statement from my bank but because they don't want me to make any withdrawal from the account came up with this excuse of bank statement with transfer ID and refused to verify me.. The bank statement was is carrying my name, my account, and it also showied the date the transfer were made but this fraudulent broker don't want to verify my withdrawal . They just want you to deposit and give them your money. Don't go near them because you will regret it.

@ForexTime (FXTM), can we have your attention here, please?

 

[ForexTime (FXTM)]

Hello Pateeto!

We can see that this is your first withdrawal and your frustration/confusion is completely understandable. FXTM is on the side of our clients and we're here to guide you.

Since FXTM is a Regulated & Licensed broker, we follow strict verification rules to ensure secure payment transactions. This includes the verification of your payment method, which is the payment method you used to make your first deposit to us.

We've received the Bank Statement but we don't see the Deposit Transaction you made to us in the list of transactions. As per the verification rules (we're legally required to follow) your Bank Statement should clearly show 1) Your Full Name, 2) Your Full Account Number and 3) The Transaction (first deposit you made to us)

As soon as we get all the required information, your withdrawal can be processed & released without any hassles, Pateeto. All our clients follow the same verification steps and please be assured that this is for the security of your funds.

If you need help or guidance with this, our Live Support Chat Team are available through the website: https://www.forextime.com/

Just click the Orange color Chat Bubble and you can start chatting through Live Chat, WhatsApp or Telegram and we'll definitely help you out!

 

[FxMaster]

Hello Pateeto!

We can see that this is your first withdrawal and your frustration/confusion is completely understandable. FXTM is on the side of our clients and we're here to guide you.

Since FXTM is a Regulated & Licensed broker, we follow strict verification rules to ensure secure payment transactions. This includes the verification of your payment method, which is the payment method you used to make your first deposit to us.

We've received the Bank Statement but we don't see the Deposit Transaction you made to us in the list of transactions. As per the verification rules (we're legally required to follow) your Bank Statement should clearly show 1) Your Full Name, 2) Your Full Account Number and 3) The Transaction (first deposit you made to us)

As soon as we get all the required information, your withdrawal can be processed & released without any hassles, Pateeto. All our clients follow the same verification steps and please be assured that this is for the security of your funds.

If you need help or guidance with this, our Live Support Chat Team are available through the website: https://www.forextime.com/

Just click the Orange color Chat Bubble and you can start chatting through Live Chat, WhatsApp or Telegram and we'll definitely help you out!

@Pateeto, follow the steps suggested by FXTM Rep and you will have the resolution of your problem soon. And don't forget to update us here when you will have resolution of your problem.

 

[Pateeto]

Hi Pateeto,

I have used FXTM in the past and have withdrawn tens of thousands of Euro from them, so it is highly improbable that they are trying to steal your $10.

Brokers have very strict money laundering rules that they and, ergo, you, have to comply with. Accodingly, you have to withdraw using the same method that you used to deposit. Even though card withdrawal(I assume credit card) may be shown on their website, it would not be available to you until you had made a credit card deposit, and even then they may still require you to withdraw to your bank account until you had withdrawn all the funds using that method. The rules vary from broker to broker, so make sure you have studied their deposit and withdrawal rules.

In order to resolve your issue, it will be useful if you can look at what they are trying to achieve here - they require proof that the account belongs to you, and that you did the deposit transaction. I don't know where you are from, but all banks provide a transaction notification that should indicate the amount and the beneficiary - there should be a transaction reference number on that transfer notification, so I find it strange that you say your bank does not provide any reference. I can understand why FXTM is concerned.

That said, don't get too hung up on the transaction reference - I'm sure if you can show the transaction notification/transfer receipt with the FXTM bank details on it, that would be undeniable proof that you did the transfer. Once you have provided that information, and still have a problem, kindly upload here what you have sent, so that members may be able to make an assessment of the reasonableness of FXTM and your positions. You should also upload the emails that have been sent to and from FXTM.

 

[Pateeto]

Payment Verification has been Approved

My payment verification has been approved by FXTM though i have not requested to make any withdrawal since it was approved. When i am ready to withdraw for my account i will let everyone know if the withdrawal was successful. Thanks

 

[FxMaster]

Payment Verification has been Approved

My payment verification has been approved by FXTM though i have not requested to make any withdrawal since it was approved. When i am ready to withdraw for my account i will let everyone know if the withdrawal was successful. Thanks

It means your issue is resolved, right?

 

[ForexTime (FXTM)]

Payment Verification has been Approved

My payment verification has been approved by FXTM though i have not requested to make any withdrawal since it was approved. When i am ready to withdraw for my account i will let everyone know if the withdrawal was successful. Thanks

That's great to know, Pateeto! Always remember that FXTM is on your side and if you face any issues, you can always get in touch with our Live Support Team - they're available 24 hours a day, 5 days a week