What should I do if the platform cannot withdraw funds?

Hello landlord,

First of all, it takes about 3 to 5 working days for most formal platforms to withdraw funds, which includes UnionPay or wire transfer.

If there is no reply from the platform after this time, or if there is a situation where the platform hinders the withdrawal of funds, you can make the following preparations:

First of all, don't panic if the platform is unable to withdraw funds. Keep the previous deposit records (preferably the process records of each step), and the account's transaction history order data and other relevant evidence. In order to provide it to the police when necessary, as long as the chain of evidence is complete, the police will file a case.

Secondly, it is necessary to identify the reason why the platform cannot withdraw funds.

1. If the foreign qualified regulatory platform goes bankrupt. You need to go to the corresponding regulatory website and other authoritative departments to verify the information. In this case, it is necessary to wait patiently for the legal process of the corresponding regulatory authority to deal with it (of course, this time may be longer, maybe 2 to 3 years), and pay attention to the release of relevant information.

2. If there is a situation where you cannot withdraw funds on a platform without any supervision, it is recommended to ask the police uncle directly for help.

In addition, it is recommended that traders carefully verify the formality of the platform before investing. You can refer to the "Hui Chacha" recently launched by Forex 110. Of course, it will be more accurate to verify the information on the corresponding regulatory website.

If you want to know more financial knowledge, welcome to join my circle.

Good luck with the transaction

What should I do if the foreign exchange platform cannot withdraw funds?

Those who do foreign exchange will inevitably encounter this kind of situation. I hope everyone can understand it and know the common situations of not being able to withdraw funds, so as not to be prevaricated by various excuses from the trading platform and miss some of the best opportunities for rights protection.

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Simple explanation of deposit and withdrawal

Before starting to do real trading in foreign exchange investment, you need to find a reliable trading platform and recharge a certain margin. Deposit refers to the process by which foreign exchange investors put funds into the account of the trading platform. The corresponding withdrawal refers to the process of withdrawing funds from the trading platform.

Common deposit methods include bank deposit (including bank wire transfer, online banking, and bank Western Union transfer), credit card deposit, paypal, Skrill and other professional system deposits, and post office deposits. Under normal circumstances, the trading platform will require investors to bind a bank card, and basically use this bank card to handle deposits and withdrawals in the future.

In terms of handling fees, there is no charge for credit card deposits, bank wire transfers are cheaper but more troublesome, Western Union transfers are more expensive, and post office deposits can only deposit 2,000 US dollars per order, and each order will charge a handling fee.

The common methods of withdrawing funds are generally used to deposit funds in whatever way is used for withdrawing funds. For example, bank deposits are also bank withdrawals. The withdrawal time is preferably within 1-3 working days.

Be vigilant about other niche deposit and withdrawal methods. For example, the private account given to you by the dealer, there is no evidence of remittance at all.

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Common situations where funds cannot be withdrawn

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Due to incorrect account information

The default bound bank account information is entered incorrectly or the deposit and withdrawal account is not the same account. Repeat to verify.

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Violation of the withdrawal rules of the trading platform

Some trading platforms require investors to have funds in their account no less than 80% of the margin if they still have positions. There may even be other terms, which must be understood before cooperating.

There are also cases where funds cannot be withdrawn during holidays, so before choosing a broker platform, investors should understand the platform's withdrawal regulations, including rules, whether there is a limit for withdrawals, and time limits.

did encounter special circumstances

For example, the platform upgrade system, but generally in this case, a reliable platform will notify everyone in advance.

When you opened an account, you participated in the bonus activity of the platform, and the total amount of withdrawals cannot take up that part of the bonus.

If the bank fails to accept the audit, and the bank trusteeship accepts the deposit and withdrawal operation, any mistake made by either party will cause the bank to fail the audit. Or there is a problem with the speed of the bank's deposit and withdrawal business, and there is a phenomenon of queuing. If you encounter a peak, the withdrawal will be slower.

Encountered a black platform

There are many black platforms that have been exposed as unable to withdraw funds, such as Puton, Strength Forex, Winwide Finance and so on. Of course, there are still many that have not been exposed, and they may be expanding wildly. Everyone should be vigilant at all times. Especially for the so-called domestic platforms, it is also illegal for domestic companies to do foreign exchange trading business.

Under normal circumstances, after choosing a trading platform, you can first conduct a small-amount deposit test to familiarize yourself with the process and rules. But I predict that if it is a relatively experienced black platform, the deposit and withdrawal at the beginning will be smooth.

What should I do if I cannot withdraw money?

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First find out the reason why you cannot withdraw funds, and take different measures according to different situations.

Find your own reasons first. Have you made any wrong payment information? Is the payment method and deposit method the same? Have you violated the withdrawal rules of the platform? If these possible reasons are ruled out, it is estimated that the problem is the platform.

First of all, you can contact the customer service of the trading platform to inquire about the situation . If the customer keeps saying perfunctory things like they’re transferring money from another account, it’s going to take a while; they’ve been hacked, there’s a problem with the system, etc. That is likely to be a black platform.

When encountering a suspected black platform, first contact the regulatory agency of the platform. If it is a regulatory agency with a relatively high credit rating, it should give a specific solution. You can always recover part of the funds. The sooner you find the relevant departments such as the regulatory agency, the better the chance of getting compensation, because there may be a large number of "debt collectors" behind you.

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But under normal circumstances, the so-called supervisory agencies of black platforms are either irregular or forged . In this case, it is not so easy to handle. After all, they are not regulated by domestic laws. Where do you go to call the police?

The current common method is to gather the strength of human rights defenders, collect evidence together , and then seek assistance from some legal institutions or go to Chinese embassies abroad to seek legal assistance. After all, there are many people and great strength, even if there is a glimmer of hope, you have to try. But that might cost money.

Note that if you really encounter a black platform and your funds are relatively small, you will be unlucky. Because it may cost more money than the funds to be recovered in the end, it is not worth it!

We have also seen that many so-called "lawyers" or "victims" aim to gather everyone to defend their rights together, make trouble, and charge investors for doing things. Don't be impulsive because of temporary anger, and you need to be rational at all times!

Having said so much, I believe it is not difficult for you to find that the most important thing is to find a reliable trading platform at the beginning. At the beginning, if you pay more attention to the identification of traders, you will not encounter such distress later!

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As for how to identify reliable traders? And which regulators are more reliable? I will update @外汇进入学习圈 in the future!

You can search advanced circles! ​

How to choose a reliable broker for foreign exchange speculation

A comprehensive understanding of foreign exchange regulatory agencies, a must-see for foreign exchange investment!

Let me tell you: Which platforms have you encountered that cannot withdraw money? Give everyone a warning! Might as well find a solution!

There are really many pitfalls on foreign exchange platforms. Aren’t Puton, Ogilvy, and IDS all black platforms that can’t make money? The routines are the same, all kinds of delays and stability maintenance, creating gaps to take money and run away. What is even more frightening are those brainwashed "investors", who always imagine that the difficulties of these black platforms are temporary and will not give up on them. I tried to make them sober, but they scolded them "I don't know how to study" and "I don't know how to be grateful". I really lament that there are a lot of people in this world who are stupid and rich. Now Haihui and UK Finance have also started not to withdraw funds. Friends who are still there, I wonder if you are all right now?

Hehe, let’s talk about it based on my own experience. I joined a small platform a long time ago. I remember what it was called, Zhitou International? I wanted to withdraw money with a profit of around $300, but there was no movement after 5 days. After contacting the corresponding customer service, I told me that my account was abnormal, and I needed to pay a certain amount of deposit before I could withdraw money. I knew I was cheated when I heard it, but I didn’t know Has anyone else had a similar experience?

1. Alarm

2. Go to the address of the company

If the trading platform maliciously refuses to pay for no reason, there is only one possibility, and that is to encounter a foreign exchange black platform. Because some formal foreign exchange trading platforms are managed by third-party banks, and the bank can withdraw funds after review. Except for system maintenance and other situations, investors are free to deposit and withdraw funds, and will never be restricted for no reason. .

Thanks for the invitation. When this happens, try to stay calm.

When we realized that we were cheated, the first thing we thought of was to keep the evidence and choose to call the police! Although there is no strong supervision department in China to supervise, malicious deception should be reported to the public security organs as soon as possible, and people around are warned to stay away from illegal financial management! Of course, we cannot relax completely after reporting the case, and we can also use the existing evidence to contact a professional lawyer team or firm to protect our rights and recover losses within a reasonable and legal scope! Remember that those who charge in advance are liars, so you must not take it lightly! As far as rights protection is concerned: the evidence must be sufficient, the time cannot be delayed for too long, and it is still possible to protect rights normally and recover losses while the platform is still in operation!

There is no choice but to report to the police. The longer the delay, the more unfavorable it is. Just like the current PT has been unfavorable for withdrawing funds since September, and it has been reported that the country has seized the funds. You should find the platform or the superior broker to withdraw the funds. It's not waiting for the real liquidation to recover, which is 100% impossible.

When PT has an accident, Ogilvy or other platforms should release funds first in order to avoid risks, and then wait and see. It's not that it's really out of control, it can only depend on fate. Now Ogilvy and Mather can no longer pay the principal.

GPAK is the only platform where I can’t withdraw money since I started the platform. Now the platform is gone, the funds are gone, and the police are useless. The person in charge of the platform has also been arrested, and the police just let the case be closed. I don’t know how to wait until the year of the monkey. . There's really nothing you can do about calling the police.

The bigger brand is just a wake-up call for you, and it will be given to you in the end.

If the brand is small, it is estimated that it will be suspended. It depends entirely on the operation situation in the next year. If the operation cannot continue, no one will leave, just run

The one on my side is fine so far, and it came out normally during the epidemic.

Remember this lesson and don’t make the same mistake next time. Foreign exchange and technology are one thing, but mentality and fund management are another. Only by rectifying your mistakes will you stay in the foreign exchange market for a long time. Black platforms will not give money Yes, in the foreign exchange market, the road that should be taken will definitely be taken, strive to take one step at a time, make progress little by little, come on

There are two methods, one willful: 1. Destroy the platform server and contact the actual controller to demand withdrawal and compensation; 2. Collect platform information, including server, fund channel, actual controller and other information, and then report to the police. It has existed on the Internet, and there are traces to check.

If the funds are small, just pay the tuition fees. If the funds are large, go to various news circles to expose and report directly!

I have never encountered it before, and I have always traded on large platforms.

When I was deeply involved in the vortex of online gambling, I thought, if one day I can successfully go ashore, I must write down my experience and warn everyone. I didn’t expect God to give me this opportunity, although I don’t believe it. God, but I still want to thank God for giving me back my hope in life!

Maybe some newcomers don’t understand, a certain thing, at the beginning, they gradually couldn’t get money out, and then various agents and platform official customer service began to find reasons to delay the time, and finally the Stone Hammer platform was already cold. During this process, some people continue to believe, or it can be said that they firmly believe that a certain meal can continue to withdraw money. I just decide that they are afraid that they are lying to themselves and cannot accept the reality. Now that various black platforms are emerging one after another, it is better to keep your eyes open. If you really don’t know how to do it, just go to Huichacha and fx110 to see if this platform is legitimate, and fx110 also has a rights protection center. , Do more research before depositing and withdrawing from the platform. After all, it is your own money. It hurts to think about being cheated.

1. The first point is that before things happen, we often say that to avoid black swans, it is best not to trade this risky product. So everything comes together, choosing a safe platform is the most important, this can often avoid losing money.

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2. Many people ignore one point, which is whether their transactions are in compliance with the regulations of the platform and the legal requirements of account supervision. For example, many platforms do not allow such methods as "trading", "delay", and "malicious high frequency". General profit is not given, only the principal is allowed

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3. When you are sure that your transactions are compliant, but the platform refuses to withdraw funds, or it is difficult to withdraw funds. The first thing is to save [evidence], including deposit records, transaction records, customer service chat records, and bank statements, etc. When you have enough evidence, reason can stand on your side, and you need evidence to speak to the police or sue.

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4. Look for rights protection groups, the police will not follow up on a single call to the police, and the police will only pay attention to group incidents. For 1 million people, the police can ignore it, but for 1 million people, 50 people, 20,000 yuan per person, the police will take it very seriously.

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5. Look for third-party intervention, such as X-Tianyan, X-Chacha, and other third-party media exposure events, which will play a certain role.

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6. A very realistic sentence, I have been tricked by a black platform myself, the road to rights protection is very difficult, and the principal can be traced back is even rarer, so the best way to prevent being withdrawn by the platform is to choose a Large platform or bank deposit with good credibility and reputation. ​

I have never encountered it before. The Hong Kong garbage platform I started with was less funded, so I still gave it to make a little money

Let’s briefly talk about how to find a reliable platform.

1. Try to choose a large platform, such as Interactive Brokers, Dukascopy, Lmax and other Class A platforms

2. Never choose a gambling platform, such as ABbook, ordinary retail investors will never be able to play against brokerages

3. It is safest to choose FCA supervision (must be under supervision)

4. Try not to choose a pheasant platform that you have never heard of. A small platform means poor liquidity and quotation speed.

The quality of a platform involves many factors, such as regulation, scale, model, trading environment, transaction costs, etc. If you make a comprehensive judgment, I am afraid that there is no perfect platform, but after doing transactions for a long time, the most important thing is the security of your capital! Only when the wallet in the money bag is alive can there be follow-up development, so naturally it is unnecessary to say which is important, right? For those who do not control the stability of the platform, in fact, they can test the waters with a small amount of capital, run for a period of time, and basically can test whether the chuck is slipping or something, and it will not be too late to add funds at that time.

Normal large platforms will not fail to withdraw funds, and my normal withdrawals are also received within one day (except holidays)