How to Withdraw Funds
It’s really quick and easy to withdraw your funds from 1Market. Kindly read on for useful info about the withdrawal process at our platform.
What Documentation is Required?
1Market is required by law to prevent third-party access to your account. KYC (Know Your Client) requirements mandate that traders submit compliance documents before any withdrawal requests can be approved, and processed. (Click here for Required Documentation).
In the event that a substantial period of time has elapsed since your first deposit was placed, you may be required to resubmit updated banking information and/or proof of residence for the withdrawal request to be processed.
What’s the Link Between Withdrawal & Deposit Methods
At 1Market, you can only process withdrawals and transfer them to the payment method that was used to place your first deposit.
If for example, you used a credit card to make your first deposit, the maximum amount that can be transferred back to your credit card is equivalent to the initial deposit that you made on the card. Any extra amount (above and beyond your initial deposit – will be transferred directly into your bank account via wire transfer.
Once we have all the required information, we can expedite your withdrawal requests for you. Of course, all withdrawals are subject to payment processor procedures.
How Fast Are Withdrawals Processed?
1Market processes all withdrawals within 3 business days of your request. Naturally, the time delay between submitting a withdrawal request and actually receiving the funds in your account will depend upon the payment processor that you have used. The estimated time between each of the payment providers varies.
Why Would A Withdrawal Be Delayed?
There are several reasons why withdrawal requests may be delayed. These include incorrect banking details on the withdrawal request, missing banking details, a failure to meet the minimum volume requirements, or technical glitches.
If you experience any issues related to delayed withdrawals at 1Market, a customer service professional will contact you directly. They will see to it that the issue is resolved in double-quick time.
Should 1Market receive email correspondence from you, stating that your withdrawal was incomplete, we will apply for a corresponding tracking number (ARN) to look into it further.
What payment methods are available for withdrawals?Bank transfer, or credit card et cetera, provided that the same method of payment is used for placing deposit and withdrawing your funds.
How do I submit a withdrawal request?Once you login to your trading account, simply click on ‘Withdraw Funds’ from the left side of the screen. Enter the desired withdrawal amount, and then click to confirm.
How long should I expect to wait for a withdrawal to be processed?It can take anywhere from 3-14 business days for withdrawals to be completed. Of course, it depends on the payment processor that you have used for your withdrawals.
What type of documentation is required for requesting a withdrawal?As a compliant trading brokerage, we are required to meet with all legal parameters vis-a-vis KYC, AML, and trader ID. This means that you must provide a clear copy of a valid driver’s license, government issued ID, or passport. We also require proof of residence. A utility bill such as a bank statement, electricity bill, or phone bill that was issued within the last 3 months will suffice. The bill must clearly display your full name and surname, as well as your home address. Other information that is required includes the proof of card ownership. Please submit a clear copy of the front/back of your debit card or credit card that you used for your account. You are advised to hide most of the card information, leaving only your full name, expiration, and the last four digits of the card available. Kindly send all documentation as attachments via email to the following address: firstname.lastname@example.org
Does 1Market charge withdrawal fees?No.
What might result in a delay of my withdrawal request?There are several reasons that might delay your withdrawal request, including using a card that was not issued in your name, unverified documentation, or missing information.
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