Withdrawing funds
Make a withdrawal from your
Algo Trades trading account
How to make a withdrawal
Clients can withdraw funds online by simply logging into the secure Algo Trades client portal and selecting the withdraw tab from the menu.
Please note: It is the client’s responsibility to ensure there are sufficient funds available for the withdrawal request to be processed. Failing to maintain sufficient balance in the account may result in the rejection of the withdrawal request.
Notes to consider before making a withdrawal
- Before submitting a withdrawal request, please ensure that the requested amount is equal to or above the minimum required amount for each withdrawal methods shown in the table below.
- Otherwise, you may need to top up your account balance to or above the suggested minimum before withdrawing.
| WITHDRAWAL METHODS | UPPER LIMIT PER TRANSACTION | LOWER LIMIT PER TRANSACTION |
|---|---|---|
| Credit Card | Depends on how much you deposited with your card | No limit |
| International Bank Transfer | No limit | No limit |
| Thailand Local Bank Transfer | 8,500 USD | 15 USD |
| Malaysia Local Bank Transfer | 2,300 USD | 15 USD |
| Vietnam Local Bank Transfer | 13,000 USD | 15 USD |
| Indonesia Local Bank Transfer | 3,500 USD | 15 USD |
| Philippines Local Bank Transfer | 1,900 USD | 1 USD |
| Nigeria Local Bank Transfer | 4,800 USD | 1 USD |
| India Local Bank Transfer | 2,700 USD | 10 USD |
| Laos Local Bank Transfer | 14,000 USD | 20 USD |
| UnionPay/MobilePay | 4,500 USD | 45 USD |
| Astropay | 10,000 USD | 5 USD |
| FasaPay | 25,000 USD | 0.1 USD |
| Skrill | No limit | No limit |
| Neteller | 500,000 USD | No limit |
| Sticpay | 300,000 USD | No limit |
| Bitwallet | No limit | 1 USD |
| USD / BTC | No limit | 10 USD |
| Perfect Money | No limit | 0.01 USD/EUR |
- Algo Trades does not charge any internal fees for deposits or withdrawals. However, please note payments to and from overseas banking institutions may attract intermediary transfer fees from either party which are independent of Algo Trades. Any such fees will be the responsibility of the client.
- Due to AML / CTF laws, Algo Trades cannot deposit funds to third parties. All money withdrawn from your account must go to a bank account in the same name as your Algo Trades trading account.
- All withdrawal requests are processed according to the funding source of origination. For example a deposit is made via Debit/Credit Card; then a subsequent withdrawal request is received. The amount of funds sent back to the relevant Debit/Credit Card, when a withdrawal request is received, may not exceed the original amount deposited from same. Any profits made in excess of the deposited amount will be transferred to the nominated bank account; which must be held in the same name as your trading account.
- If you deposited funds through the Algo Trades App or reside in Canada, you may be unable to withdraw via credit card due to NAB gateway restrictions. Instead, your funds will be withdrawn to your designated bank account.
- Debit/Credit Card withdrawal can only be used for the deposit amount made using a Debit/Credit Card.
- Debit/Credit Card refunds can take between 3-5 business after successfully approved by Algo Trades to appear on your statement.
- All initial withdrawal requests must be verified for safety and security by provision of a bank statement; which includes account holder information and bank details. We will not accept deposits or withdrawals made under a different name to the registered trading account.
- International Telegraphic Transfers attract a minimum bank processing fee of 20 units of your account base currency i.e. 20 AUD. Algo Trades will deduct this fee from the withdrawal amount prior to depositing to the to the nominated bank account. Please contact your bank regarding any fees they may charge you for the services they provide.
- Neteller withdrawals are limited to a maximum of $10,000 per transaction and incur a 2% fee, capped at $30 per transaction.
- Neteller withdrawals from accounts registered in Kazakhstan, Russia, Latvia and Vietnam will incur a 2% fee of the withdrawal amount with a maximum of 30 units (base currency).
- A Neteller deposit fee covered by Algo Trades of 4.9% + 0.29 USD will be deducted from the withdrawal amount of clients residing in Vietnam.
- Withdrawals via Skrill will incur a fee of 1% of the withdrawal amount, which the client is liable for.
- Clients acknowledge that Algo Trades does not guarantee a recall of a financial transaction under any circumstances and that Algo Trades is not liable for any losses suffered as a result of providing incorrect instructions or bank details.
- Clients acknowledge that they may be required to provide information on the source(s) of the deposit(s) and/or the Clients’ wealth in general when processing a withdrawal request and agree to provide all information required Algo Trades. Algo Trades reserves the right to refuse to process a withdrawal request where a Client does not provide all required information, and/or where Algo Trades has reasonable concerns that doing so may result in breaches of the anti-money laundering and counter-terrorism financing laws and regulations (AML/CTF Laws).
- Algo Trades reserves the rights to refuse to process a withdrawal request if it has reasonable grounds to believe that the trading account may turn into a negative balance after the withdrawal request is processed.
- Algo Trades reserves the right to refuse a withdrawal request if the trading account is subject to a charge-back investigation.
- Algo Trades cannot guarantee a recall of a financial transaction due to incorrect information provided by clients and any losses suffered as results will be the liability of the client.
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