City Index Withdrawal methods explained by forex pros team, Read how to do CityIndex Withdrawal and what fees you must pay for a City Index Withdrawal. For more information about... more" />

City Index Withdraw

City Index Withdrawal methods explained by forex pros team, Read how to do CityIndex Withdrawal and what fees you must pay for a City Index Withdrawal. For more information about City Index Log In you can visit City Index reviews by ForexSQ.com forex website, The TopForexBrokers.com ratings forex brokers, or Fxstay.com online trading website and get all information you need to know about the City Index broker.

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City Index Withdrawal

It accepts direct bank transfer and credit/debit cards for deposits and withdrawals. Though it was good that they provision these 2 standard payment procedures, I find it a bit incomplete since other brokers are capable to cover more banking approaches which is why I am providing them a Deposit and Withdrawal Approaches score of 3/5.

City Index Withdrawal Time

The utmost communal difficult of FX traders nowadays are delays in withdrawal needs. CI (City Index) privileges that withdrawals are treated in a problem of five days.

How much can I withdraw in one time?

The minimum withdrawal amount is £50, or all your available account balance (whichever is lower).

The maximum you can withdraw in a single transaction is £20,000. If withdrawing online on credit cards there is a limit of £20,000 in 24 hours.

If you wish to withdraw more than the limits online then, please contact our client management team using one of the options on our contact us page.

Are there charges for making withdrawals?

No. Withdrawals are free of charge unless you require a CHAPS payment, in which case there is a £25 charge for payments under £5,000.

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How long do withdrawals take?

Please allow 3–5 working days for any card withdrawals.

While domestic bank transfers are done in normally 1–2 working days, if your bank subscribes to the faster payments service it could be in 1 working day.

What is my ‘available for withdrawal’ balance and how is it calculated?

The maximum amount you can withdraw is called your ‘available for withdrawal’ balance. You may withdraw all or part of your money from your account at any time, as long as it is not already committed to any open trades. If you withdraw all of your funds your account will still remain open for future use.

When you have withdrawn money such that all the deposits you made using your cards are zero, then you will be able to withdraw any excess funds in your available balance back to any registered payment method.

What payment methods are not accepted for withdrawals?

A small number of credit cards (including a few from MasterCard and Visa) will not allow us to pay funds back to your card. If you are using one of these cards you will be notified when you attempt to make a withdrawal. If this is the case we can arrange for your funds to be paid back to the bank account of your choice.

To minimise the risk of card fraud we may also request some documentation from you before the bank transfer can be processed.

You can withdraw money to any of your registered payment cards, but the card has to have already made a successful deposit. There are no fees for withdrawals back to a payment card.

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How does net deposit affect my ability to withdraw?

Your net deposit amount reflects any deposits carried out with that particular payment method. It is calculated by subtracting your total withdrawals from your total deposits for that payment method.

Net deposits are a facility we have in place to abide by a number of important financial regulations. We also use this for our own internal security measures to combat security issues – such as money laundering, card theft and fraud.

The net deposit on any registered payment method must be at zero before you can remove that payment method, or are able to withdraw any excess funds and gains).

In short, you can only withdraw funds back to the payment method from which they came unless all net deposits are zero.

ExampleLet’s say you have two cards registered and deposit £100 from Card A and £150 from Card B. This gives you a Net Deposit of £250.

You place all that money on a trade that subsequently closes at £350. This means that you will need to withdraw £100 to Card A and £150 to Card B before you can withdraw the remaining £100.

Once those two amounts are withdrawn, the remaining balance can then be withdrawn to either card without issue.

Please note: Net Deposits refer to deposits and withdrawals only. The Net Deposit figure is only affected by deposits or withdrawals to that specific payment method.

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