FXCM withdrawal at a glance

Whether you are using an online broker for short-term trading or for longer-term investments, there will come a point when you may want to enjoy the fruits of your trading activity if you've been making profitable transactions, or you just need access to your funds for any reason. To do that, first you have to withdraw money from your broker account.

That doesn't sound very complicated, but brokers differ considerably in what withdrawal options they offer (such as bank transfer or credit/debit cards), as well as in the speed and convenience of withdrawal. And while withdrawal at many brokers is free in most cases, some brokers and some types of withdrawals may involve a fee.

So how does FXCM fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from FXCM and how FXCM's withdrawal fees and options compare to some of its close competitors.

FXCM withdrawal fees and options snapshot
FXCM Forex.com Pepperstone
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee Free for credit/debit cards, but bank transfer can cost up to $40 Free withdrawal Free for credit/debit cards and bank transfer in Australia, but it charges $20 for international bank transfer; 3% for PayPal and $1 for Skrill

How to withdraw money from FXCM
FXCM withdrawal options

Withdrawal via bank transfer is by far the most common option. It is available at basically all brokers, and FXCM is no exception.

In addition to bank transfer, FXCM also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for FXCM.

You can also withdraw money to electronic wallets. This is a nice feature that isn't available at all brokers. At FXCM, you can withdraw money to the following electronic wallets: Neteller, Skrill, Unionpay.

Speed also matters. Unlike some deposit options, withdrawal is rarely instant. It usually takes at least 1 business day, but often several business days for your money to arrive.

We tested withdrawal at FXCM and it took us more than 3 business days - a little bit on the slow side compared with most other brokers.

To withdraw money from FXCM, you need to go through the following steps:

  • Log in to your account
  • Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
  • Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
  • Enter the amount to be withdrawn, and, if prompted, a short reason or description
  • Submit your request

Whatever method you use, you may only withdraw money to accounts or cards that are in your name.

How to withdraw money from FXCM
FXCM withdrawal fees

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. International bank transfers and wire transfers in particular can sometimes incur high fees, so always check carefully if this is something that would apply to your transactions.

We have good news for you: basic withdrawal at FXCM is free of charge. See the table below for details and possible exceptions, as well as how FXCM compares with some of its immediate competitors.

FXCM withdrawal fees
FXCM Forex.com Pepperstone
Domestic bank withdrawal $25 fee per withdrawal Free withdrawal Free for bank withdrawal in Australia
International bank withdrawal $40 fee per withdrawal Free withdrawal $20 fee per withdrawal
Credit/debit card withdrawal Free for credit/debit cards Free withdrawal Free for credit/debit cards
Electronic wallets withdrawal Not available PayPal is free 3% for PayPal and $1 for Skrill

How to withdraw money from FXCM
Bottom line

FXCM withdrawal is free of charge in most cases and you have multiple options for withdrawing your money, making it relatively easy to access your funds.

To see how FXCM's withdrawal fees and options stack up against the rest of the brokerage market, check out our broker comparison tool.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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