InstaForex Announces Withdrawal Challenges Via e-Payment

Last week (3/May), InstaForex broker announced that withdrawal via e-Payment system in USD is no longer available. The reason is the limitations in terms of e-Payment. If so, what is the process for withdrawing funds from traders who have already deposited in US Dollars?

Convert Via Euros

In the company news, the Instaforex broker explains traders can still deposit funds via e-Payment in EUR and USD. However, requests for withdrawal of funds will be processed using EUR, regardless of what currency was used when the trader made a deposit.

Furthermore, the conversion for EUR withdrawal via e-Payment will be carried out based on the inter-bank EUR/USD exchange rates found on the respective trading platforms. InstaForex does not charge any conversion fee.

Deposit Alternatives and Other WD

Alternatively, if you want to deposit to an Instaforex account, you can also use other deposit and withdrawal facilities. For example, via Bank Wire or local exchanger.

Depositing trading funds via Bank Wire (bank transfers between countries) is often considered safer, but the process is complicated and will take longer; transfers through local exchangers can be easy and fast, up to a maximum of just a few hours on weekdays. On the other hand, withdrawing funds through exchangers can also arrive quicker than via Bank Wire, although it still takes several days.