So i have just started trading forex online since last month and was recommended to use FxPro by my brother and another friend. Everything was fine, I deposited my money using credit card and paypal, made a few trades, won and lost, as usual. But then the day came when I decided to withdraw some money back to paypal, the transaction request was refused.
And when I called them and asked why, the reason quoted was: I have to withdraw the same amount (or more) of money (the first time I deposited into my account using my credit card), back to my credit card before I can use other withdrawal methods.
I don’t understand why is that so. They were happy to accept whatever deposit method I chose to used (credit card, bank transfer, paypal, Moneybooker, Neteller etc) but when it comes to my first withdrawal, I will have to withdraw it to my credit card, and most ridiculous of all, withdraw the same amount (or more) of money the first time I deposited into my account using my credit card??
For example, if I have deposited $1000 into my account when I opened my account using a credit card, I will need to withdraw at least $1000 back to this credit card, before I can withdraw my money using other methods.
When I asked why, they said it’s the policy. But there was no logical explanation whatsoever why this is the case. It doesn’t sound like a very good or convincing policy at all.
Do you know any other forex brokers who give you this kind of problem when it comes to withdrawing money? Comments and suggestions welcomed.