FAQs Funding

Funding & Transfers

What deposit methods do you offer?

You can fund your account via bank transfer following the steps in section Transfers of your Client Portal.
Note: We are currently able to accept only bank wire transfer as a funding/withdrawal method for the following countries (including but not limited to):

Afghanistan, Algeria, Angola, Belarus, Benin, Brazil, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Cote d’Ivoire, Djibouti, Equatorial Guinea, Eritrea, Gabon, Ghana, Guinea, Guinea Bissau, Guyana, Indonesia, Iran, Iraq, Lao PDR, Liberia, Libya, Madagascar, Malaysia, Mauritania, Myanmar, Niger, Nigeria, North Korea, Pakistan, Panama, Papua New Guinea, Sao Tome and Principe, Somalia, Syria, Togo, Uganda, Yemen.

How long does it take for deposits to be credited to my account?

We aim to apply all bank wire deposits on the day they are received.

Please note however that it may take up to 3-5 business days for international transfers to reach our accounts.

What are your Accounting Department working hours?

Our Accounting Department works from 08:00 to 16:30 GMT, Monday to Friday.

Will I get a confirmation once funds are applied?

Yes, you will receive an email confirmation as soon as your deposit has been credited to your account.

What is the minimum and maximum amount I can deposit per transaction?

The minimum initial deposit accepted is EUR 1,000 or the equivalent in other currencies. There is no minimum amount for top-up deposits.

Do you charge fees on deposits?

Tier1FX does not charge processing fees on deposits.

Charges may be applied by the issuing, intermediary and/or beneficiary bank.

Do you accept cheques and cash deposits?

No, we cannot accept deposits in cash and cash equivalents.

Can I send funds from another person's bank account?

No. All deposits should come from an account under your name. As a regulated broker, we cannot accept third party deposits, even if they are sent from accounts belonging to close relatives. If such deposits are received, they will be instantly refunded.

Can I fund my account using my joint bank account?

Yes, you can. Please note that we may require further supporting documents, such as a bank statement showing both account holders’ names.

Can we fund our Joint Account from our individual bank accounts?

Yes, you can use either account holders’ personal bank account.

Please note however that funds from a joint trading account can be redeemed only to a joint bank account in both account holders’ names.

Can I make a deposit in a currency other than my trading account’s currency?

Yes, you can.

It is important however to always deposit into the Tier1FX bank account, the currency of which matches the currency of your trading account. For example, if your trading account is held in euro, you need to send funds (in the currency of your choice) to our EUR bank account.

Such deposits will be converted to our bank account’s currency, using the current bank exchange rate.

Do you offer bonuses on deposits?

No, we do not. Instead, we prefer to focus on constantly improving your trading experience and conditions by investing in first-class liquidy, execution and technology.

Withdrawals

How do I withdraw funds?

Simply visit the “Withdraw Funds” section of your Client Portal.

Please note that as a standard procedure all withdrawals and profits will be sent back to the bank account from which you funded your trading account.
If you need to withdraw to a different bank account but still under your name, please contact support@tier1fx.com
Note: funds can be only sent to a bank account under your name.

Do you charge fees on withdrawals?

A fixed fee* of USD 20 / 15 EUR/ 15 GBP applies per withdrawal and will be charged on top of the requested withdrawal amount. If you are redeeming all of your funds, the fee will be deducted from the total withdrawal amount.

*This includes all processing fees and fees charged by our bank/payment processor”

Can I withdraw funds at any time?

You may submit a withdrawal request at any time.

Please note however that requests submitted after 16:30 GMT will be processed on the following working day (by transfer only). Withdrawal requests submitted after 16:30 GMT on Friday will be processed on Monday.

How long does it take for withdrawal requests to be processed?

All withdrawal requests are processed within the same business day, if received within business hours or on the following business day.

Please note that it may take up to 3-5 business days for international bank transfers to be completed.

Is there a minimum/maximum withdrawal amount?

No, there isn’t.

Can I withdraw funds to a bank account other than the one I used to deposit?

Yes, you can, as long as you are the bank account holder.

Can I make a withdrawal if I have open positions?

Yes, you can as long as your Equity is higher than the requested amount.

Please note that you are solely responsible for ensuring that you have enough Equity to sustain your open trades and avoid a stop out.

I have a managed account. Can I withdraw funds from it at any time?

Yes, you can withdraw up to 80% of your equity. If you wish to withdraw more, you would need to first leave the MAM by pressing the “Leave Program” button on your portal.

Please note that even if withdrawing a small amount, you are still responsible for monitoring your exposure and ensuring that you have sufficient equity to sustain any open trades on your account.

Can we withdraw funds from our Joint Account to an individual bank account?

No. Funds from a joint trading account can only be redeemed back to a joint bank account, under the names of the trading account holders.

Can you send my funds back in a currency other than my trading account’s currency?

Unfortunately, this option is currently unavailable. Funds can only be sent out in the currency of your trading account.

Internal Transfers

Can I transfer funds between my Live Accounts?

Yes, you can transfer funds between all your accounts from the “Internal Transfers” section of your Client Portal.

Do you charge any fees?

There are no fees on internal transfers made between your accounts.

Can I transfer funds between accounts in different currencies?

Yes, you can do this at section “Transfers / Internal Transfer” of your Client Portal.

I have a self-direct and a managed account. Can I transfer funds between them and how long will the transfer take?

Yes, you can.

Internal transfers are generally carried out instantly. In rare cases, it may take up to one (1) business day for such transfers to be completed.

Can I transfer funds if I have open positions?

Yes, you can, as long as you have sufficient funds to sustain your open positions.

Please note that you are solely responsible for ensuring that you have enough Equity to sustain your open trades and avoid a stop out.

Can I transfer funds to someone else’s account?

No. This is considered a third party payment and by law, we cannot accept such transactions.

Can I transfer funds to/from another broker?

Yes, you can. Please contact the Support Team at support@tier1fx.com for further assistance.

Can I transfer funds between my Live Accounts?

Yes, you can transfer funds between all your accounts from the “Internal Transfers” section of your Client Portal.