Broker not withdrawing money

[Nothappy]

Hello all,

New here. I have a bit of a problem, I requested a withdrawal in the beginning of April and still have not received the money yet. What steps should I be taking other than talking to the support department since they are not very help and keep telling me to have 'patience'. Every time I called it's always never a concrete answer on when I can expect the money. What are the next steps


Thanks

 

[highbury fx]

Hello all,

New here. I have a bit of a problem, I requested a withdrawal in the beginning of April and still have not received the money yet. What steps should I be taking other than talking to the support department since they are not very help and keep telling me to have 'patience'. Every time I called it's always never a concrete answer on when I can expect the money. What are the next steps


Thanks

what broker is it?

 

[Nothappy]

Looking back, 'not withdrawing money' may have been a bit harsh? They money is no longer in the trading account, neither is it in my bank. They say that it is in the process of being transferred and any delays are the fault of their bank transferring the money. Is that even possible? It's going on 16 working days.

what broker is it?

invest.com

 

[Winherd]

Have you already contacted their regulator?

 

[Nothappy]

Have you already contacted their regulator?

I will give it a few more days

 

[alextrader79]

I will give it a few more days

Honestly saying, I wouldn't wait for some days more if I had such a problem since the beginning of April.

 

[ffsear]

I will give it a few more days

Never trade with any company based in Cyprus.!

 

[highbury fx]

I will give it a few more days

Client money is one of the priority improvements CySEC is focusing on now. It isn't ambiguious, CySEC demand that all CIF's treat withdrawal processes as efficiently as possible and not longer than 24 hours.

You sound like you've given this company plenty of time to send your money back, if I was in your shoes I would have one more go at them saying if the money is not back in your account within 2 hours you'll make an official complaint to CySEC. 24 hours later you should make that complaint to CySEC.

 

[Nothappy]

Update. Got the money 5 weeks after initially putting in the request and 3 weeks after they told me it was a bank problem.

It's worth noting to anyone condmsidering that website that they only let you take out money to the nearest pound. So if you have £100.99 in an account you can only withdraw £100. 99p is a small amount but it's dishonest pratice that is the bad thing.

Overall, I will not be trusting them anymore.