HERE IS A LIST OF FOREX BROKERS THAT OFFER SAME DAY WITHDRAWALS
Same Day Withdrawal Brokers
Quick access to funds is critical in the world of online trading. Brokers that offer same-day withdrawals have grown in popularity because they provide traders with quick and efficient access to their money. Customers who use trading brokers with instant withdrawals can quickly transfer funds from one brokerage account to another. This can be advantageous for day traders in particular, where the ability to transfer funds between platforms may open up new investment opportunities. Many brokers in South Africa offer same-day withdrawals, which can be a deciding factor for traders when selecting a broker.
Let’s take a look at some same-day withdrawal brokers in South Africa.
Best Same Day Withdrawal Brokers
Exness
Exness is a forex and CFD broker that offers access to a wide range of financial instruments such as CFDs on Metals, Indices, Cryptocurrencies, Energies, Stocks, and Forex. It is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA), and Seychelles Financial Services Authority (FSA). Exness offers five different types of accounts which are Standard Cent, Standard, Pro, Zero, and Raw Spread. It offers platforms such as MetaTrader 4 and MetaTrader 5 where one can execute traders depending on the client's preference. Spreads are normally tight starting as low as 0.3 pips for major currency pairs.
The minimum deposit on Exness is $10. However, clients wishing to use a professional account must make a minimum deposit of $500. This gives them access to ultra-low spreads starting from 0.0 pips. Exness provides same-day withdrawal services to South African clients. Exness processes all withdrawal requests immediately. For South African clients, Exness accepts various withdrawal methods, including bank transfer, Visa/Mastercard, Neteller, and Skrill. Notably, Skrill, Neteller, Mobile Money, and Cryptocurrencies offer same-day withdrawal processing. When withdrawing via bank cards, the whole process can take up to 7-10 business days as your bank processes the transaction even though processing on Exness’ side is done instantly.
FP Markets
FP Markets is a global Financial Technology services Forex and CFD broker that has been established and regulated since 2005. It is authorized and regulated by the FSCA, the ASIC, and the CySEC. The FSCA is the top financial regulator in South Africa. Additionally, the ASIC and the CySEC are two of the best regulators worldwide. FP Markets has two account types which include the Standard and the Raw accounts. The minimum deposit to open any of these accounts is 100 AUD or equivalent. It has competitive spreads that start as low as 1.0 pips in the standard account. Additionally, it offers clients the opportunity to trade with ultra-low accounts on the Raw account. Here, the spreads can go as low as 0.0 pips and a commission of $3 per lot per side applies.
FP Markets offers CFD trading in Forex, Indices, Shares, Commodities, Metals, Digital Currencies, Bonds, and ETFs in addition to trading Forex. It offers several trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, cTrader and WebTrader & mobile apps for iPhone and Android devices. A variety of funding methods, including credit cards, debit cards, payment wallets such as Neteller and Skrill, online banking, and bank wire transfer, are available for withdrawal. Among these are payment solutions that take only one business day for withdrawal processing. These include credit and debit cards, Neteller, Skrill, FasaPay, DragonPay, Perfect Money, LetKnowPay, Finrax, Virtual Pay, XPay, and Crypto Payments, among others.
FBS
FBS is an international online forex broker that offers trading services in various financial markets, including currencies, commodities, stocks, and cryptocurrencies. FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC) and the Financial Sector Conduct Authority (FSCA). The broker offers several types of trading accounts, including Cent, Micro, Standard, Zero Spread, and ECN. The Cent account has the smallest initial deposit of $1. FBS also provides various trading platforms, including MetaTrader 4 and MetaTrader 5, as well as a mobile trading app. FBS provides floating and fixed spreads from 1.0 pips on major currency pairs on the standard account.
All withdrawal requests are processed on a first-come-first-served basis by the FBS Financial Department. When they approve your withdrawal request, they will send you the funds. However, the time it takes to transfer funds to your account will be determined by the payment method used. E-payments such as Skrill, Perfect Money, Neteller, and SticPay, can take up to 30 minutes, credit or debit cards can take up to 3-4 business days, and local banks can take up to 1-3 business days. For FBS payment systems, the minimum withdrawal amount is $1.
HotForex
Trading Forex and CFDs entail risk.
Your capital is at risk.
HotForex is another popular broker that offers same-day withdrawals to South African traders. It is regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA) and Financial Sector Conduct Authority (FSCA). HotForex offers multiple account types including micro, premium, zero spread and hfcopy. It offers MT4 and MT5 as trading platforms. The minimum deposit amount is $5 and this allows trading in a wide range of trading instruments. These include Forex, Metals, Energies, Commodities, Indices, bonds, EFTs, cryptocurrencies, CFDs on stocks and physical stocks.
Withdrawals made before 10:00 a.m. server time are processed the same business day between 7:00 a.m. and 5:00 p.m. server time. Among the payment methods that HotForex supports, Crypto Payments, DusuPay, FasaPay, Neteller, PayRedeem, Perfect Money, Skrill, and WebMoney offer same-day withdrawals. Bank Cards and Bank Wire transfers can take between 2 and 10 business days depending on the corresponding bank.
Benefits of Same-Day Withdrawal brokers
Before selecting a broker, take into account factors such as fees, customer service, and the broker's reputation. Some brokers, for example, may charge withdrawal fees or have minimum withdrawal amounts, so it's critical to read the terms and conditions carefully. Furthermore, some brokers may provide better customer service or a more user-friendly trading platform, which can improve your trading experience.
It is also critical to select a broker who is regulated by a reputable regulatory body, such as South Africa's Financial Sector Conduct Authority (FSCA). This ensures that the broker operates transparently and fairly and that your funds are safe in the event of the broker's insolvency. As a trade, you have to consider all the options before settling on the choice of a broker.