On searching for a broker online I have come across several brokers with no minimum deposit but nowhere can I clearly find mentions on fees charged for withdrawal from trading account. So what I want to know is - can I actually find brokers with no fees? Basically how there are forex brokers with no commission or brokers with no deposit, are there any good brokers who won’t charge for my forex funds withdrawal
I know it’s hard to find forex brokers with no withdrawal fees, in fact I’ve seen some brokers who don’t charge any fees for deposits but when it comes to withdrawals, there are usually fees associated. I can suggest you lmfx as they don’t charge any fees for funding and also offer quick withdrawals. They provide low spreads but, I find their commissions slightly higher. I guess we can’t find everything in one broker. We should know what are the features where we can compromise and where we can not. You can try them but keep your research on and if you find a low spread forex broker who also offers low commissions and no withdrawal fees, do share it here.
There are few brokers (fxview, tickmill and xm) that I know are not charging any fees for both deposit and withdrawals. Although their minimum deposit varies from $5 to $100. If you want a lower deposit, look for fxview and xm. Plus, usually when you find a broker saying no commission, you will also notice that the spread markup will be higher than the usual, so better to avoid that if you want tighter spread.
Have you checked TurnkeyForex? I’ve been using them for quite some time now and there’s no funding fee. Also, the spreads and commissions are low, if you are basically looking for a broker with lower trading costs they may be perfect for you.
From my view, the only broker I am aware of with no extra withdrawal fees is my current broker, FP Markets. They do not charge a withdrawal fee, you will see the same amount of money on your bank account that you transferred from your brokerage account.
davegordon posted: On searching for a broker online I have come across several brokers with no minimum deposit but nowhere can I clearly find mentions on fees charged for withdrawal from trading account. So what I want to know is - can I actually find brokers with no fees? Basically how there are forex brokers with no commission or brokers with no deposit, are there any good brokers who won’t charge for my forex funds withdrawal
With some brokers, withdrawal fees come up as a hidden cost that you have no idea about. This is why I believe it’s best to make small trades in the beginning and then request a withdrawal. You will get to know how the broker deals with customer withdrawal requests.
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