Make a Withdrawal to Your Bank Account

How to Make a Withdrawal

Log in to myForexTime and click on “Fund Withdrawal” in the top menu. Fill out a request to withdraw funds from your myForexTime account to your bank account.

To withdraw funds via wire transfer from our account at Pasta Banka or Bank of Cyprus, for the "Purpose of Payment", please use:

Unused funds repayment, client agreement ******, date **/**/****

* Where indicated, enter your myForexTime number and the date the account was opened.

Withdrawal requests will not be processed if the purpose of payment has not been filled out correctly, so we recommend that you have it pre-approved by your bank. You will not be able to change the purpose of payment.

A 4-digit confirmation code will be sent to your registered mobile phone or email address. Enter this code in the form where indicated. If you choose to have the code sent to your phone, you will need to have access to the mobile phone you entered during registration.
Check the status of your withdrawal in the "Transaction History" section of myForexTime.
- The status "Processing" means that your transaction has been approved.
- The status "Funds Sent" means that your funds have been sent to your bank. Wait for them to be posted to your account.

Withdrawal Conditions

Processing Time:
You should allow two business days after seeing the status "Funds sent" in your "Transaction History" before checking to see that the funds have been posted to your account.

Commission:

Pasta Banka

Withdrawals in USD: 37 USD
Withdrawals in EUR:
- up to 2,500 EUR: 6 EUR
- 2,501 - 10,000 EUR: 9 EUR
- 10,001 - 50,000 EUR: 15 EUR
- more than 50,001 EUR: 21 EUR

Bank of Cyprus

0.15% (min 5, max 400 EUR) + 12 EUR per transaction

The sending bank will deduct the commission from the amount you entered as your "Withdrawal Amount" in the withdrawal request form.

If there are any other banks involved in the transfer, they may also deduct a commission from your withdrawal amount.

More Information

When making a withdrawal, please keep the following in mind:

If you make an error when entering the bank details, you will be charged a commission of 50 USD by Pasta Banka or 40 EUR by Bank of Cyprus.
ForexTime does not allow transfers to or from individuals in Iran, Iraq or North Korea.
The conversion rates we use at ForexTime are updated daily and can be found in myForexTime.

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