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FXPRO Withdrawal problems

Discussion in 'Scam Alerts' started by Rick Bird, Aug 14, 2009.

  1. Rick Bird

    Rick Bird Recruit

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    I've been trying repeatedly to withdraw money from fxpro.

    First started with me ordering a paypal card to make access to my money easier. GreaT! I got that, cause they allow paypal withdrawals sounded ideal.
    Ok, i submit my withdrawal request. I get the response i can only withdraw to sources i deposit from... Ok, so i deposit $100 via paypal, and I submit a withdrawal request a couple weeks later. I get this response via email.

    Ok.. great, so i go on a couple weeks ignore it. Then all of sudden I emailed their accounting department to see whats up. I'm basically told i must withdraw the total amount deposited via credit card before i can use paypal... Ok one problem, I didn't have my CC anymore I used to deposit. I told them that, they respond to me no problem, as long as I still have the same bank account attached to that that shouldn't be a problem...

    Ok, one problem again. I don't have the CC anymore to enter the details for deposit, so I email asking them to do it for me... Ok, idiots this is what they ask.
    Ok... this is getting ridiculous, I respond with this.
    Anywho, all sums up with this is FXPRO not FX-PRO! I will give them time to redeeem themself and update everyone. But this definately seems unreasonable to me. They have no problem with you depositing money all day long, when it comes to actually getting your money they want to throw up all the redtape in the world.
     
    #1 Rick Bird, Aug 14, 2009
    Last edited: Aug 14, 2009
    mad19711971 likes this.
  2. ernest8fingers

    ernest8fingers Master Sergeant

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    they are cooky

    This is sadly a fact at FXPRO.com. They have one of the most restrictive withdraw policy I have ever encountered. I have made over 100 withdrawals since I opened my account(Feb 2008?) and once you establish a routine (I always follow up withdrawal requests with an email to accounting Dept). I always get a denial of request when using PayPal(auto generated) but the follow up email usually is enough to get the withdrawal processed. This restrictive policy is one reason a dont EVER have more than $1000.00 in my trading account. I use MBT for trades above 1 Standard lot( which I havnt done in long time). After all the crazy B_llSh_t - they DO send my money. BTW-I long ago exceeded my Deposit level by CC.I only withdrawal and deposit using PP. They are uber draconian about EVERYTHING that has to due with traders account. I had to re-send most of my Documents a week ago when I changed my email address. I would suggest that u dont place or have any open trades in your account when requesting a withdrawal if you have a low account balance. Please keep us up to date- ernest
     
    mad19711971 likes this.
  3. ou_soccerguy

    ou_soccerguy Recruit

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    FXPro Withdrawals

    I originally created my Forex account through NorthFinance. After awhile, FxPro eventually took over all the client accounts of NorthFinance. With NorthFinance, I was able to quickly deposit funds using wire transfers and withdraw funds via standard check in the mail. Customer service, transfers, and overall experience was great. But, unfortunately, FxPro took over.

    FxPro send me a notice a few months ago to close out all my open transactions and withdraw my money because they are no longer hosting US citizens as their clients. They said they were mainly focusing their attention to the Europe markets. Needless to say I was steaming mad. So, I closed out all my transactions (even the ones I was losing money on). I then decided to begin the long process of trying to validate myself in order to withdraw funds from my account.

    They first want you to provide a scanned drivers license and 'proof of residence' before you can even begin to select your payment type. This is where I am currently stuck at. The scanned driver's license was kinda a nuisance, but I played along. But as proof of residence, they wanted a physically scanned utility bill or some other legal document containing your name and current address printed on it. Not to mention this document can't be more than 6 months old. Yes, that means every 6 months you have to physically scan a document, save it as a jpg image, and upload it to their website. I tried to send them a pdf document of my physical gas bill, but they said they can't take electronic bills, only images of the physical bill. I asked why, and the supervisor told me that electronic bills (pdfs) can be easily created/forged. I had to laugh at this one. So, what did i do? I print-screened my pdf document and cropped it into photoshop. I only have a printer and no scanner. This is the 6th time i've uploaded a proof of residence document. The other 5 times, they emailed me telling me it didn't fit their security criteria and that I had to upload again a different document, different format, etc, etc, etc.

    If you are considering FxPro as your forex broker, I would seriously suggest looking somewhere else. FxPro has brought me nothing but anger and frustration. From reading the past blogs on this site, it looks like I'll be going through more hell because I set up a paypal account for withdrawals (even though my deposits were wire transferred).
     
  4. PipStar

    PipStar Sergeant

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    FXPro are notoriously difficult to withdraw money from. They let you trade but when it comes to withdraw you need to jump through many hoops and clear a lot of obstacles. My experience is that they eventually pay although I don't trade with them anymore.
     
  5. Sibali

    Sibali Corporal

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    You are right about fxpro. I have experience with them. Yes it is little hard but they follow rules and they can't be called a scam because they pay you if you follow rules. My client have to go America only to collect funds because when he opened his account, he used a Bank account which was located in NY. He came back to Pakistan and Fxpro refused to pay him in Pakistan. so he went to NY and re activated his account and got his funds back. So i personally can't call them a scam. It's just they are following their rules.
     
  6. Lianna@FxPro

    Lianna@FxPro FxPro Representative

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    FxPro Withdrawals

    Hi, my name is Lianna and I am here to help with any comments/concerns regarding FxPro.
    I saw your posts regarding withdrawal problems and would like to offer some clarification on this matter. When you open an account, you will need to provide a valid ID and a proof of residence dated less than 6 months old. Once all of the correct documents are received, we will not ask you to provide these again. However, with clients who opened their accounts through North Finance, we may ask for updated documents to meet our regulation requirements.
    As soon as we have the correct documentation, you should not have any issues withdrawing in the future but please keep in mind that you must withdraw via the same method you used to fund. This is for the security of clients accounts and to ensure that all funds are being returned to the original source.

    If you wish to direct message me with any other comments or concerns, please feel free to do so and I will do my best to help you. Altern!
    atively, you can always reach FxPro Customer Support Monday to Friday, 24 hours a day, in a number of ways, via e-mail: support@fxpro.com, telephone: +357 25 969 222, or using our toll free numbers (for countries where available), Live Chat service, and Call Back facilities, all of which are listed towards the end of FxPro’s Contact Us page: https://www.fxpro.com/contacts.html.
     
  7. AmanyFX

    AmanyFX Recruit

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    I do not work for FXPro but i am in compliance so i will just give you my opinion.
    If you deposit via card, the funds have to be refunded back to that card.
    If you lost the card you must inform the company immediately and get a paper from the bank saying that your card is cancelled and does not exist.
    Now to prevent attempts of money laundry the company has to send the money back to the card which:
    1- if it is connected to a bank account the money will go to the bank account
    2- if it is not connected to a bank account then it must be prepaid and in that case you need to ask the issuing bank or institution to give you a letter to prove that.
    You cannot just expect a company to by pass all the rules to make you happy and pay 500K fine for your 100$ withdrawal! let us be logical.
    If you fund with a paypal card or whatever you have to send a copy of it do not just wait until you lose the card then complain. it is good to do your job right then blame the company.
    FXpro is a big name in the market with millions of transactions i am sure if all these people had problems it would last from 2006 to today.
    don't get me wrong but you must do the right thing first!
     
  8. Pharaoh

    Pharaoh Colonel

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    Since this thread is from six years ago, I doubt the original poster will be around to read any new posts in it.
     
    RahmanSL likes this.
  9. RahmanSL

    RahmanSL Major

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    This is a very clear case of simply and blindly replying to any thread for the sole purpose to increase their post and hence upgrade their status/rank in the FPA :D

    I suggest that some penalty numbers of posts (perhaps 5 post) be deducted from such blind post.
     
: fxpro

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