Withdrawing funds or Closing your trading account
Should you wish to withdraw funds or close your trading account, contact our call centre and we will arrange for your request to be actioned.
- To avoid being closed out, all margined positions should be closed prior to withdrawing.
- Withdrawal requests can only be actioned if the balance in your trading account is more than the amount you wish to withdraw. For example, if you request a withdrawal of USD 1 000 you need to have at least that amount available in your trading account, after taking into consideration any open orders or transactions that still need to be processed on your account and any outstanding fees and/or charges.
- Standard Bank’s cut off time for payment requests is 15:00 (South African time). Any requests received after this time will only be processed the next Business Day (which excludes Saturdays, Sundays and public holidays in the Republic of South Africa).
- The funds will be paid into the bank account nominated on your application form.
- Due to various factors, it may take up to 5 (five) Business Days for the monies to be refunded to you, calculated from the date that Standard Bank has approved the withdrawal request.
- As the platform is USD based, all refunds and payments to you from your trading account will also be in USD and will need to be converted into the base currency of your bank account.
- Please note that additional charges and the rate of exchange in respect of the currency conversion will be determined by your transactional bank.