FAQs Funding

 

Deposits

What deposit methods do you offer?

You can fund your account via bank transfer or credit/debit card directly at the “Deposit Funds” section in your Client Portal.

pencil We would like to notify you that currently Tier1FX is not able to accept the credit card deposits from 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.

If you are not sure whether your credit card will be accepted, please send your query to support@tier1fx.com with a scan of your card (front and back).

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?

There is no minimum amount per transaction for any of the available deposit methods. Deposits made via debit/credit card are limited to a maximum of USD10,000,00 per day.

Do you charge fees on deposits?

Tier1FX does not charge processing fees on deposits.

Please note however that charges may be applied by the issuing, intermediary and/or beneficiary bank (in case of bank transfers) or by the relevant payment processor (in case of card deposits and e-payment deposits).

Do you accept cheques and cash deposits?

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

Why do I need to send you a copy of my credit card?

We may require a copy of your credit card in cases including but not limited to the following:

gray-square The deposit appears to have been made by a third party;

gray-square The information about the deposit does not match the information we have on record for you.

Can I deposit using someone else’s bank account/credit card?

No. As a regulated broker, we cannot accept third party deposits and if such deposits are received, they will be instantly refunded.

All deposits should come from a bank account or credit/debit card under your name.

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.

Please remember 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 currency of your choice) to our EUR bank account.

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

Do you offer bonuses on deposits?

No, we do don’t. Instead, we prefer to focus on providing you with better trading conditions and ongoing improvement to your overall trading experience by investing in industry-lead technology and know-how.

Withdrawals

How do I withdraw funds?

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

Please note that funds can only be withdrawn via the method used when deposited and profits can only be redeemed via bank transfer.

Do you charge fees on withdrawals?

A fixed fee* of USD 20 / 15 EUR / JPY 2,000 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.

Do I have to make withdrawals via the same payment method I used to deposit funds?

Yes, funds can be withdrawn only via the method they were deposited.

Please note however, that profits can only be redeemed via bank transfer, irrespective of the method used to fund the trading account.

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 stopout.

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

Yes, you can; you can withdraw funds even if the PAMM account has open positions.

Please note that you are still responsible for monitoring your Margin level and ensuring that you have sufficient equity to sustain the 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 unavaible. 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.

One of my accounts is in EUR and the other one in USD. Can I still transfer funds between them?

Currenly this option is not available. You can only transfer funds between accounts held in the same currency.

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 stopout.

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. {slider-level2 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.