Withdrawing Funds

Withdrawing funds

 

Withdrawing funds from your Phoenix account is an easy process. Our system allows you to place your transactions and reap the benefits quickly. Withdrawals can be made by two methods: by credit card and bank transfer.

Withdrawal of funds is only available to customers who have uploaded their verification documents and validated their trading account with up-to-date KYC documents. Customers log into our secure site to download their supporting documents (proof of identity and proof of address) and once the account is validated, they can withdraw funds.

The withdrawal process is done in two easy steps

Step1: Initiate the request

Once you are logged in to your account, go to the "My Account" area. Then, simply click on the "Withdrawal" link, enter the withdrawal amount, and click on "Request a Withdrawal".

Step 2: Credit / Debit Card Withdrawal

Withdrawals will first be made on the credit / debit card for the amount you have deposited with the corresponding card. You will be presented with a list of your cards that you used during your deposits.

Simply check the cards and select "Send".

If you have made your deposit by bank transfer or if the amount of your withdrawal is higher than the funds originally deposited by the credit / debit card, simply fill in the requested bank details and click on "Save".

All withdrawal requests are initiated within 24 hours working days; however, all submitted withdrawal requests appear instantly on the account pending approval. In the case where a customer selects an incorrect withdrawal method, the customer request will be canceled. All customer withdrawal requests must be processed in the currency in which the deposit was originally made. If the deposit currency differs from the transfer currency, the amount of the transfer will be converted by Phoenix into the transfer currency at the prevailing exchange rate.

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HIGH RISK INVESTMENT WARNING:CFDs are complex instruments and come with a high risk of losing money due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.