How to Withdraw Money from OctaFX
Broker reviews often feature negative comments about withdrawal issues, but OctaFX ranks among the fastest and most trusted brokers for financial transactions. Since up to 90% of traders operate at a loss, they never reach the withdrawal phase. OctaFX lists their retail loss rate for the CySEC subsidiary at only 66.67%. Those who do need a trustworthy, fast, and reliable process will not be disappointed. Explore OctaFX Broker Review for further information and data.
Our in-depth OctaFX minimum withdrawal guide will show you how to withdraw from OctaFX and list the withdrawal methods and processing times. OctaFX does not levy internal withdrawal fees. Find out why OctaFX ranks among the most trusted withdrawal brokers.
How to Withdraw from OctaFX?
Withdrawing profits from your broker should follow the same hassle-free deposit process, and OctaFX excels at both. While making financial transactions at brokers is usually straightforward, like online banking, notable differences exist in withdrawal methods, currencies, and processing times. Some payment processors are geographically restricted, and traders must consider the trustworthiness of brokers, in this regard OctaFX performs well, internal processing times rank among the fastest industry wide at OctaFX.
OctaFX supports bank wires, credit/debit cards, Skrill, Neteller, Bitcoin, Litecoin, Dogecoin, Tether ERC-20, and Tether TRC-20. The OctaFX back office lists all available payment processors. Only the US Dollar and the Euro are account base currencies, meaning all transfers into other currencies face a currency conversion.
AML regulations stipulate that withdrawals must follow the same method as deposit, covering the deposit amount. Therefore, if a trader made a $500 deposit via Skrill, they must request a $500 withdrawal via Skrill. Excess amounts can go to any available payment processor if the account name matches that of the OctaFX trading account. The OctaFX minimum withdrawal amount starts from $5.
Internal processing times at OctaFX are one to three hours, plus 30 minutes to transfer the funds, making it one of the fastest withdrawal brokers industry wide. It may take longer for clients to receive their OctaFX withdrawal, dependent on the payment processor and geographic location of clients, especially for bank wires and credit/debit card withdrawals.
OctaFX Withdrawal Option | Availability |
Bank wires | Yes |
Credit/debit cards | Yes |
e-wallets | Yes |
Cryptocurrencies | Yes |
Internal withdrawal fees | No (third-party fees and currency conversion costs may apply) |
Steps for Sending the Minimum Withdrawal
The user-friendly and secure OctaFX back office manages all financial transactions, including the OctaFX minimum withdrawal. Traders must verify their accounts before requesting one, and the name on the payment processor request must match the name of the OctaFX trading account holder.
Below are the OctaFX withdrawal steps:
1. Log into the OctaFX back office using your e-mail address and password.
2. Click on “Withdraw,” located in the top menu. You may also find a withdrawal choice in the right-side menu.
3. Select your preferred payment processor and click “Next,” which will take you to the withdrawal screen. Select the trading account, enter the desired withdrawal amount (make sure you have sufficient free margin to cover your OctaFX withdrawal), and your OctaFX withdrawal PIN. Click on “Request” to continue.
4. Review your withdrawal and confirm it by clicking “Submit,” which sends the OctaFX withdrawal request to the finance department.
5. Internal processing times are between one and three hours, making OctaFX one of the fastest withdrawal brokers. It can take longer for clients to receive their funds, depending on the payment processor and the geographic location of traders. OctaFX will send an e-mail once it has completed the request, and traders will also receive a notification from their payment processor via e-mail, text message, or app once funds arrive.
OctaFX Withdrawal Methods – How to Withdraw Your Money
OctaFX supports five withdrawal methods, ten if traders consider the cryptocurrencies individually. Verified clients may request a withdrawal from the secure and user-friendly back office, which lists every method and payment processor a client may use.
Many traders prefer e-wallets or cryptocurrencies due to their low transaction costs, fast processing times, and usage for follow-on transactions. OctaFX features two e-wallets and six cryptocurrencies. It also offers fast bank-related withdrawals, but traders should consider the added time and potential costs, making them the least popular options.
OctaFX supports the following withdrawal options:
- Bank wires (domestic and international)
- Credit/debit cards (Visa and Mastercard, the latter not listed in their withdrawal section but noted in their FAQs)
- Skrill (for non-EU clients)
- Neteller (for non-EU clients)
- Cryptocurrencies (for non-EU clients)
- Bitcoin
- Litecoin
- Dogecoin
- Tether ERC-20
- Tether TRC-20
- Ethereum (which it does not list as a deposit method)
OctaFX does not levy internal withdrawal fees, but traders may face potential third-party payment processing costs, including blockchain gas fees for cryptocurrency transactions and currency conversion charges if applicable. The OctaFX minimum withdrawal amount starts from $5 but depends on the minimum of the payment processor used in practice. Internal withdrawal processing times are between one to three hours, making OctaFX one of the fastest brokers for withdrawing funds. It may take a few days for clients to receive their funds which depends on the payment processor, and the geographic location of traders, but OctaFX honors their withdrawal requests regardless and will support clients where necessary
OctaFX Withdrawal Fees
Brokers typically offer commission-free deposits, but withdrawals may incur fees, especially bank-related transactions. While OctaFX does not charge internal withdrawal fees, traders may face third-party payment processing costs, blockchain fees, or currency conversion charges if their payment processor is non-US Dollar or non-Euro denominated. Traders should consult their payment processors for a detailed cost breakdown and understand if there are any extra fees that might be incurred, as OctaFX does not control fees levied by third parties.
Below are the OctaFX withdrawal fees for each withdrawal method (excluding third-party costs, blockchain charges, and currency conversion fees):
- Bank wires - $0, OctaFX minimum withdrawal of 10 currency units
- Credit/debit cards - $0, OctaFX minimum withdrawal of $20 for Visa and $50 for MC
- Skrill - $0, OctaFX minimum withdrawal of $5
- Neteller - $0, OctaFX minimum withdrawal of $5
- Bitcoin - $0, OctaFX minimum withdrawal of 0.00009000 BTC
- Litecoin - $0, OctaFX minimum withdrawal of 0.11000000 LTC
- Dogecoin - $0, OctaFX minimum withdrawal of 75 DOGE
- Tether ERC-20 - $0, OctaFX minimum withdrawal of 20 USDTE
- Tether TRC-20 - $0, OctaFX minimum withdrawal of 20 USDTT
- Ethereum - $0, OctaFX minimum withdrawal of 0.00500000 ETH
The average withdrawal time for the OctaFX withdrawal methods (excluding third-party payment processor times, which range between instant and ten business days):
- Bank wires - One to three hours plus up to one hour to transfer the funds
- Credit/debit cards - One to three hours plus up to one hour to transfer the funds
- Skrill - One to three hours plus up to five minutes to transfer the funds
- Neteller - One to three hours plus up to five minutes to transfer the funds
- Bitcoin - One to three hours plus up to thirty minutes to transfer the funds
- Litecoin - One to three hours plus up to thirty minutes to transfer the funds
- Dogecoin - One to three hours plus up to thirty minutes to transfer the funds
- Tether ERC-20 - One to three hours plus up to thirty minutes to transfer the funds
- Tether TRC-20 - One to three hours plus up to thirty minutes to transfer the funds
- Ethereum - One to three hours plus up to thirty minutes to transfer the funds
OctaFX supports the following withdrawal currencies:
- Bank wires - All fiat currencies
- Credit/debit cards - USD, EUR
- Skrill - USD, EUR
- Neteller - USD, EUR
- Bitcoin - BTC
- Litecoin - LTC
- Dogecoin - DOGE
- Tether ERC-20 - USDTE
- Tether TRC-20 - USDTT
- Ethereum - ETH
Noteworthy:
- Only the USD and EUR are account base currencies, and traders may face currency conversion fees for other currencies being deposited, for example, withdrawing to an SGD-denominated account
Which Payment Methods Can Be Used to Withdraw from OctaFX?
All international non-EU traders may use bank wires, credit/debit cards, Skrill, Neteller, Bitcoin, Litecoin, Dogecoin, Tether ERC-20, and Tether TRC-20. Withdrawal options for EU-based traders at the CySEC-regulated subsidiary consist of bank wires, credit/debit cards, and Skrill. The OctaFX minimum withdrawal amount depends on the payment processors but ranges between $5 and $50.
How Long Does It Take to Get a Withdrawal from OctaFX?
The internal OctaFX minimum withdrawal processing times are between one hour and three hours, plus an added five to thirty minutes administration time to send the funds. It makes OctaFX one of the fastest withdrawal processing brokers industry-wide, where most competitors manage financial transactions between 24 to 48 hours. Depending on the payment processor and geographic location of traders, it may take anywhere between near-instant to ten business days for funds to arrive once OctaFX has processed a withdrawal request.
Withdrawal Issues and Delays in Payment
Withdrawal issues may arise if traders request a withdrawal before passing verification. Other reasons include insufficient free margin to cover the withdrawal amount, incorrect details during the withdrawal request, or trying to withdraw bonus funds before reaching the minimum trading requirements. OctaFX will send an e-mail detailing any withdrawal issues, and traders can contact customer support 24/7 to resolve delays. Please note that withdrawal issues usually relate to trader errors and not issues at OctaFX, which ranks among one of the most trusted FX brokers.
OctaFX Withdrawal Bottom Line
The OctaFX minimum withdrawal amount is between $5 and $50, dependent on the payment processor. OctaFX does not levy internal withdrawal fees, but traders may face third-party payment processor costs, blockchain fees, and currency conversion charges. OctaFX supports bank wires, credit/debit cards, Skrill, Neteller, Bitcoin, Litecoin, Dogecoin, Tether ERC-20, and Tether TRC-20. Traders at the EU subsidiary may only use bank wires, credit/debit cards, and Skrill.
Internal OctaFX minimum withdrawal processing times range between one to three hours plus an additional five to thirty minutes to send the funds, making it one of the fastest withdrawal brokers. Depending on the payment processor and geographic location of clients, it may take anywhere between near-instant to ten business days for traders to receive their OctaFX withdrawal. OctaFX is one of the most trusted brokers and honors all withdrawal requests. If a user error prevents a transaction from processing, OctaFX will send an e-mail notification detailing the delay.FAQs
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