As a beginner trader, you need to understand that the MT4 platform is the only platform for trading. All deposit and withdrawal transactions you can do only if you use your broker’s online account.
To withdraw money from your Metatrader account, visit your broker’s website, log in using your username and password, and then make a withdrawal or deposit transaction.
While MetaTrader provides this software interface, it connects to various brokers’ servers, allowing traders to access the broker’s pricing, liquidity, and other trading conditions. Importantly, when using MetaTrader, traders do not transact financially with MetaQuotes, the company behind the platform. Instead, all financial deposits, withdrawals, and other monetary operations are conducted directly with the broker with whom the trader has opened an account. The role of MetaTrader is to facilitate trading actions, but the actual funds’ custody and management are the broker’s responsibility.
We recently showed how to add money to the MT4 account, and now the process is similar.
The steps are presented below:
How to Withdraw Money From Metatrader 4?
To Withdrawal money from MetaTrader 4 account:
- Log in to your broker’s account using your live account username and password.
- Go to the ‘Finance/Deposit’ tab and click ‘Withdrawal. ‘
- Choose the preferred online payment system.
When you open a live account, you must log in and add funds!
Let us see an example of how to withdraw or add funds to MetaTrader 4 using FxPro broker:
Here are the detailed steps on how to withdraw money from the brokerage company that you are using the Metatrader platform:
Withdrawing money from a forex broker typically involves the following steps:
- Login to your Trading Account: Access your online trading platform or the broker’s client portal using your credentials.
- Navigate to the Withdrawal Section: Most brokers have a ‘Withdrawal’ or ‘Banking’ section in their dashboard. Click on it.
- Choose the Withdrawal Method: Brokers typically offer several methods for Withdrawal:
- Bank Wire Transfer
- Credit/Debit Card
- Online Payment Systems (e.g., PayPal, Skrill, Neteller)
- Cryptocurrency (in some cases)
Select the method that you prefer. Remember that many brokers will send withdrawals using the same method you used for depositing funds.
- Fill in the Required Details:
- For bank wire transfers, this may include your bank’s name, bank account number, IBAN, SWIFT/BIC code, and possibly more.
- For credit/debit cards, you might need to confirm the last four digits of your card number.
- For online payment systems, provide the necessary account details (e.g., your PayPal email address).
- Enter the Amount: Decide how much you want to withdraw and enter that amount.
- Review Fees: Some withdrawal methods might involve fees. Check to see if your broker charges any withdrawal fees and be aware of them.
- Confirm the Withdrawal: Once you’ve entered all the necessary details, click the ‘Submit,’ ‘Confirm,’ or ‘Request Withdrawal’ buttons.
- Wait for Processing: The time it takes to process a withdrawal varies from broker to broker and depends on the withdrawal method. It could range from a few hours to several business days.
- Check Email for Confirmation: Most brokers send an email to confirm the initiation of a withdrawal. It’s good practice to save these confirmations for record-keeping.
- Receive Funds: Once the Withdrawal is processed, the funds will appear in your bank account, card account, or online payment system account.
Many forex and binary options brokers offer bonuses as an incentive to attract new clients or to encourage traders to deposit more money. These bonuses can be a deposit bonus (a percentage of your deposit) or a no-deposit bonus (a flat amount given without needing a deposit). However, there’s often a catch related to withdrawals regarding these bonuses. Let’s delve into it.
Bonuses and Withdrawals:
- Withdrawal Restrictions: Most bonuses come with certain conditions. A common one is a trading volume requirement. You may have to trade a specific volume before withdrawing any money, including your original deposit. For instance, you might need to trade 20, 30, or even 40 times the bonus amount before you’re eligible for a withdrawal.
- Bonus Deduction: If you attempt to withdraw before meeting the set conditions, the broker might allow you, but they will deduct the bonus amount from your withdrawal. For example, if you deposited $1000 and got a $200 bonus and then decided to withdraw your original $1000 before meeting the trading volume requirement, you might only receive $800, with the $200 bonus being deducted.
- Profits from Bonuses: In some cases, if you’ve made profits by trading with the bonus amount and haven’t met the trading conditions, the broker might only let you withdraw your original deposit and the profits made using your deposited funds. Profits made from trading with the bonus might be withheld.
- Losses and Bonuses: If you sustain losses, some brokers deduct the losses from your deposited funds first before touching the bonus amount. This can further complicate the calculation of how much you can withdraw.
- Clear Communication: Given the potential complexity and confusion regarding bonuses, many regulatory bodies require brokers to be transparent about the terms and conditions tied to any bonus. This prevents brokers from misleading traders or using bonuses to trap deposited funds.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
