Thorough explanation of overseas FX iForex withdrawal methods, fees, and reflection days

iForex

We will thoroughly explain overseas FX iForex withdrawal methods, fees, and reflection days. Although it takes a little more time than other overseas FX brokers, the withdrawal process is smooth. We will also introduce rules and precautions that you should check before making a withdrawal, so please refer to them.

There are 3 types of iFOREX withdrawal methods

There are 3 types of iFOREX withdrawal methods. The minimum withdrawal amount is $100 (10,000 yen), but the reflection time and fees differ. In case of bank transfer, a fee of 2000 yen will be charged. There is no upper limit on the amount. I will explain the merchant’s withdrawal with images. The amount of funds received is normal compared to other companies. Customers should check the following contents and details.

Reflection timecommissionMinimum withdrawal amount
bank transfer3-10 business days2,000 yen$100
credit/debit card1 business day to 1 monthfree$100
bitwallet3-5 business daysfree$100

To make a withdrawal, first log in to the iFOREX member page. After logging in to the member page, click “Withdrawal” from the “three lines” to move to the withdrawal page.

Source : https://www.iforex.jpn.com/

A list of different withdrawal methods will be displayed, allowing users to specify and select their preferred method. From here, I will explain each method individually.

Source : https://www.iforex.jpn.com/

For each remittance, you will need to sign and send a withdrawal request form from the administration. You can upload the withdrawal request form by fax to +81-3-6385-7610, by email to cs-jp@iforex.com, or even to My Page. You can do this by going to My Page’s Account tab → “Upload Documents”. It may be troublesome for first-time users, but the same contact will be used for withdrawals.

bank transfer

If you apply for a withdrawal via bank transfer, it will be reflected in about 3 to 10 business days. If the withdrawal amount is less than 100,000 yen, a 2,000 yen fee will be charged. A SWIFT code is required, so depending on where you live, you may not be able to do so, which could be a risk. Once the withdrawal procedure is complete, you will receive an email from iFOREX with a withdrawal request form attached. Once printed and signed, scan and send the document.

Bank nameEnter bank name
account numberEnter account number
Branch codeEnter branch code
SWIFTEnter SWIFT code
Transferee nameEnter the name of the recipient
Countryenter country
bank addressEnter bank address

Credit/debit card withdrawal

Withdrawals made by credit card or debit card will be issued in the form of a refund due to cancellation of the deposit. This means that you can only withdraw up to the amount you deposited. However, there are no withdrawal fees, so this is the best withdrawal method if you want to keep costs down. Once the withdrawal procedure is complete, you will receive an email from iFOREX with a withdrawal request form attached. Print and sign the withdrawal request form, then scan and send the document. Please fill in the form below in Roman letters.

Bank nameEnter “Credit Card/Debit Card”
Transferee nameEnter card holder name
Countryenter country

bitwallet withdrawal

Bitwallet withdrawals are attractive because they are reflected in 3 to 5 business days. There is no upper limit on the withdrawal amount. When the withdrawal menu appears, enter the withdrawal amount and click “Continue”. A screen for entering bank information will be displayed as the withdrawal destination, but please enter your bitwallet account information. Once the withdrawal procedure is complete, you will receive an email from iFOREX with a withdrawal request form attached. Please print out the withdrawal request form, sign in the appropriate areas, and send.

Bank nameEnter “bitwallet”
account numberEnter your bitwallet account email address

Is there a withdrawal refusal from the FX company?

Is there a withdrawal refusal from the FX company? There is. Please note that there are withdrawal rules as follows, and if you do not meet these rules, your withdrawal will be refused.

Confirmation documents must be submitted

When making your first withdrawal from iFOREX, you must submit documents to activate your registered account. You will need two pieces of identification: a photo ID (driver’s license, passport, My Number card) and an address confirmation document (electricity, gas, water bill, bank statement, mobile phone bill). After completing these steps, you can withdraw money.

You can withdraw money to your credit card up to the amount you deposited.

The amount that can be withdrawn using a credit/debit card is limited to the amount deposited. Once you make a profit, you can only withdraw it by other means than by card.

Can’t withdraw money to some banks

Withdrawals cannot be made to some banks. Because a SWIFT code is required. Banks that do not support international remittances cannot be used for iFOREX withdrawals.

A handwritten signature is required on the withdrawal request form.

When withdrawing money from iFOREX, a withdrawal request form must be issued and signed by hand. You need to issue a withdrawal request form, scan it with a printer, convert it to PDF, and submit it.

Causes and solutions for not being able to withdraw money

If you apply for a withdrawal on iFOREX but it is not reflected, one of the following may be the case. If you have any concerns, the management will also provide support over the phone. Please check the data in advance.

The name of the withdrawal destination is different from iFOREX

The holder or recipient must be the person in question. No third party representation is allowed. If the name of the bank or card you specify for withdrawal is different from iFOREX, you will not be able to withdraw money.

Banks that do not support

iForex requires bank accounts to support SWIFT codes. Withdrawals cannot be made to any other bank. In Japan, Shinsei Bank, Sony Bank, Seven Bank, Japan Post Bank, etc. do not support this service.

It takes time to reflect

In fact, withdrawals cannot be made instantly. It will take at least several days.

violation

If you violate the rules, your account may be frozen. In this case, your only option is to negotiate with the support center. iForex prohibits scalping and automatic trading (EA), so restrictions are quite strict. It is also impossible to hold multiple accounts or fraudulent transactions aimed at rate errors. There are more restrictions than other companies (tradeview, threetrader, bigboss).

Bonus withdrawal

Bonus cannot be withdrawn. Bonuses can only be used as credits and margin. Also, once the bonus is withdrawn, it will disappear according to the percentage.

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