There are a number of options to choose from when it comes to withdrawing your money from Vantage Markets. What are they and how to do it?
At a glance, withdrawing money doesn't necessarily sound so complicated. However, depending on the broker and your payment method, the process might take some time. The rules differ from broker to broker, so learning about deposits and withdrawals is important before signing up.
In this article, we're going to talk about how to withdraw funds from Vantage Markets, which is a well-known broker that is based in Australia. Let'' go straight into it.
Withdrawal Rules at Vantage Markets
Vantage Markets is a fully-regulated broker that has been around since 2009. In this broker, clients can withdraw at any time after they complete their trades and have enough balance in their trading account. Clients can withdraw to their accounts by using a preferred payment method.
However, there are certain rules that every user must be aware of. If the account has an issue, the broker might postpone or cancel the withdrawal request. This is why it's important to understand the terms and conditions below before withdrawing from Vantage Markets:
- You need a sufficient balance in your account to initiate a withdrawal. Pay attention to the minimum and maximum withdrawal limits depending on your payment method.
- According to the AML/CTF laws, Vantage does not allow withdrawal to third parties. All withdrawals must go to a bank account in the same name as your Vantage real account name.
- Withdrawals are processed only on working days (Mondays to Fridays) between 9:00 a.m. and 7:00 p.m.
- All withdrawal requests are processed according to the funding source of origination. This means you need to use the same withdrawal method as the deposit.
- The amount of withdrawal cannot exceed the original amount that you deposited.
- Vantage is not responsible for any losses from providing incorrect instructions or bank account details.
- Clients must be aware that withdrawal processes require certain information regarding the source of the deposit and the client's wealth in general. The broker can refuse to process a withdrawal request if the client does not provide all the necessary information.
- Vantage can cancel your withdrawal request if your account is subject to a charge-back investigation.
Available Withdrawal Methods
The withdrawal method that you choose can affect many aspects of your withdrawal in Vantage Markets. That includes withdrawal fees, processing time, and minimum deposit requirements. Here are the withdrawal methods available on Vantage Markets:
Unlike other brokers, Vantage accepts withdrawals from a wide range of banks, allowing traders from various regions and countries to withdraw using their local methods. If you are using your local bank, no fees will be charged. But if you use an overseas bank, you will be charged a certain fee depending on the bank.
If you withdraw through a bank transfer, you should understand that the withdrawal process might take 3 to 5 days. Meanwhile, the minimum amount of withdrawal you can make differs according to which bank you use.
International banks do not have any minimum withdrawal. But, the Indonesian bank might apply a minimum withdrawal of $3,500 while Malaysia's local bank requires you to make a $2,500 minimum.
Banks supported by Vantage Markets are:
- International Banks
- Thailand Local Banks
- Malaysia Local Banks
- Vietnam Local Banks
- Indonesia Local Banks
- Philippines Local Banks
- Nigeria Local Banks
- India Local Banks
- Laos Local Banks
Both debit card and credit cards are accepted at Vantage Markets, but the card types vary according to the country in which you reside. When using debit/credit cards, there is no minimum deposit requirement.
Meanwhile, the maximum amount depends on how much you deposit with your card. Like bank transfers, this withdrawal method will take 3 to 5 business days to process.
E-wallets are internet-based wallets that can store and transfer money digitally. Vantage Markets offers quite a wide range of e-wallet options that you can choose from, such as:
The withdrawal process using E-wallet in Vantage will be processed almost instantly. What's better is that there is no minimum withdrawal amount using this method.
At Vantage Markets, there are two options to withdraw in cryptocurrencies:
- Bitwallet: You can send your funds directly to the Bitcoin software wallet.
- Exchange Wallet: You can withdraw your funds in USD to your wallet as BTC.
Both withdrawal options using cryptocurrency will be processed almost immediately. The best part is that this method has no minimum withdrawal amount.
Steps to Withdraw from Vantage Markets
In order to withdraw your funds from Vantage account, you need to follow these steps.
1. Head over to Vantage Markets' official website and log in to your account.
2. Choose "Withdrawal" or "Withdraw Funds" from the menu.
3. Select the withdrawal method that you prefer and input the details. Then, Input the amount of money that you wish to withdraw. Ensure it's greater than the minimum requirement and less than the maximum limit.
4. Complete your withdrawal order. Once the withdrawal is complete, you can see your account's 'Success' status.
Vantage Markets Withdrawal Fees
All withdrawals at Vantage Markets are generally free except for a few exceptions below:
- You will be charged AUD 20 for making withdrawals via International Telegraphic Transfers.
- Withdrawals via Neteller will incur a 2% fee, a set fixed amount of $30 per transaction.
- Withdrawals via Skrill will incur a 1% fee of the withdrawal amount.
In general, withdrawing money from Vantage Markets is straightforward. The various payment method options are also a great benefit for traders from around the globe. You can withdraw your money straight to your local bank, credit card, or e-wallet. Some withdrawals can be processed instantly, while others require several business days.
To better understand Vantage withdrawal, check out this comparison table below.
|Methods||Time Spent||Minimum Amount|
|Bank transfer||3 to 5 business days||Depends on which country you're on|
|Debit/Credit||3 to 5 business days||Depends on how much you deposited|
If you're interested to make an e-wallet account but still undecided on which one, these 5 Top E-Payments for Forex Deposit and Withdrawal can be a good recommendation.