Question about australian brokers bank transfer costs

Javiervs

Private
Messages
12
Hi.

I have been and still am looking for the best broker out there. In my search, I have noticed that many australian brokers are top-notch. However, there's something about bank transfer withdrawal method that they have in common and is nowhere explained.

It always goes more or less like this : "If the fund transaction shall be executed through intermediary banks, you may incur additional fees. Please note that you will be liable for any fees charges by the banks for the transactions."

So, despite saying everywhere that no fees are charged for withdrawals, here we find that they still have costs. So, my question is: Do you know how much these costs are? Can anyone share their experience withdrawing funds using bank transfer from australian brokers? I group all australian brokers together because I assume the routes the money will take to get to Europe will be the same for all. I live in Spain so experience from Europeans will be the most useful to me.

I already contacted customer support of my broker (IC Markets) and asked about it, but they have been basically useless and given me no meaningful response.

So, what can you tell me about it?

Thank you all.
 

fxoday

Master Sergeant
Messages
321
To be frank, I never use a wire transfer to deposit or withdraw money from my broker, usually, I am use IB as a partner broker in my local country
 

Javiervs

Private
Messages
12
To be frank, I never use a wire transfer to deposit or withdraw money from my broker, usually, I am use IB as a partner broker in my local country
And how do you withdraw money gained from trading? I know withdrawing through credit card is free of charge, but they only let you withdraw up to the amount that you deposited in with it, so I understand that money earned has to be withdrawn using bank transfer.
 

fxoday

Master Sergeant
Messages
321
And how do you withdraw money gained from trading? I know withdrawing through credit card is free of charge, but they only let you withdraw up to the amount that you deposited in with it, so I understand that money earned has to be withdrawn using bank transfer.
Simply process in my broker, first withdraw money from account trading to wallet, then withdraw from wallet with option local withdrawal, later will get code confirmation that we can choose one, via mobile or email, I use email to get the code after that submit code and if successful then waiting for the process from finance broker. Sometimes take two days. sometimes a day, the process completed.
Indeed usually like that if we deposit with skrill let say hence we also withdraw with skrill too. if not might rejected
 
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