Finam Forex: no withdrawal fees

Withdrawal fee is an important indicator that traders pay attention to when working with forex brokers. And the lower these fees are, the more profitable cooperation with the broker is. The company Finam Forex offers clients a variety of methods of receiving money, including zero commissions. Let’s look at how to withdraw money without commissions from finamfx.ru (formerly forex.finam.ru).

There are two ways to withdraw money from Finam Forex with a zero brokerage commission. To withdraw money, you need to fill in a withdrawal order. There are two ways to do it:

• In myAlpari. Go to your personal cabinet and find the “Withdrawal of funds from the brokerage account” tab. Go to the section and fill out the payment request. The document must be signed with an electronic signature. Send the order for approval.
• In the physical office. You can fill in an order at any physical office of Finam Forex. To submit the order you are required to have your civil passport with you. In this case the document is signed with the original signature.

Money without commission is withdrawn in rubles within two business days. A transaction with a zero brokerage fee is possible only if the rules specified in the contract are followed.

Rules for receiving money

Before completing an order, you must familiarize yourself with the broker’s rules. Failure to comply with the established rules will result in refusal to execute the order. Basic rules:

• The transfer amount must not exceed the account balance. If the free balance amount is exceeded, the order will not be executed.
• The transfer should not influence performance of obligations to the broker. Execution of the order must not affect the fulfillment of the trader’s obligations to the broker. It means that the client should pay all fees if necessary.
• The transfer is only possible to the client’s account. If you fill out a request to the account of a third party, the request will not be executed.
• Applications submitted via the Internet must be signed with the equivalent of an original handwritten signature (EDS). It can be obtained from the Certification Center.
• The requisites must be specified correctly. If the details are incorrect, you may need to specify the payment. The cost of the service is 1500 rubles.
• For transactions through intermediary banks, the customer must pay all associated fees.

When withdrawing funds, please note that Finam Forex works on the T+2 principle. It means that after selling an instrument, you can withdraw money only in 2 working days. This only applies to instruments bought and sold earlier. The rule does not apply to money entered into the system from a bank account. Withdrawal without commission is possible only in rubles.

Are there delays?

On the whole, according to the users’ reviews, funds transfer by Finam Forex is performed without any significant delays. If the withdrawal order is filled in correctly, funds will be credited to the bank account within three working days. Sometimes delays may take up to two weeks, but only if the details are filled in incorrectly.

Income taxes

When working at Finam Forex the trader does not need to worry about taxes. The broker will calculate and pay taxes independently reporting to the Federal Tax Service. Taxes are deducted at the end of the year or upon funds withdrawal. It should be remembered that sometimes a broker may not take some of the profit into account. In this case, the tax office will send you a notice and you will have to pay the tax yourself. To avoid getting on the taxpayers’ debt list, it is advisable to keep track of the amounts of deductions and pay taxes in a timely manner, if necessary.

Transactions in currencies

Currency transfers at Finam are made on a fee basis. According to users’ reviews, currency deposit and withdrawal from the broker is not profitable, as it is subject to high commissions. Also, the difficulty of working with currency on the platform is that the exchange is only possible with a full lot, which is 1000 c.u., which is not always convenient for traders.