If you've recently submitted a withdrawal request that was rejected, you might be wondering what went wrong. Withdrawal rejections can occur for a variety of reasons, and understanding these can help you rectify the issue and ensure successful transactions in the future. In this article, we will explore the common reasons for withdrawal rejections and provide you with the necessary steps to address them.

Common Reasons for Withdrawal Rejections and How to Address Them

Insufficient Funds on Account

Reason: You don't have enough free margin for us to process your withdrawal request at the time of processing. Or the withdrawal fee is greater than the requested amount.
Solution: Ensure you have enough available funds in your trading account to sustain your open positions before making a withdrawal request. Pay attention to any withdrawal fees that can be applied. Consider closing open positions if necessary.

Mismatch Between Withdrawal and Deposit Methods

Reason: The initial withdrawal method does not match your initial deposit method.
Solution: Always withdraw funds using the same method you used for your first deposit. For example, if you first deposited using a card, your initial withdrawal should also go to the same card. Check out this article Can I withdraw using a different payment method? to get more information on our withdrawal policy.

Verification documents required

Reason: You did not reply to our email requesting verification documents. Please note that for us to process your withdrawal request, your account must be in an approved status and all documents must be up to date. In rare cases, FXTM may request additional documents. This is to ensure the security of your account and compliance with the regulatory requirements.

Solution: Check your email for our request and promptly provide the required information. For more details on why this information is needed.

You have not Authorised transactions timely

Reason: Certain local payment methods require authorization within a specific timeframe, which was missed.
Solution: Make sure to authorize the transaction within the given timeframe. If missed, you’ll need to create a new withdrawal request and repeat the authorization steps.

Third-Party Transfer Request

Reason: Deposits made by third parties must be refunded to the original source.
Solution: Always ensure that deposits are made from and to your own account. If third-party deposits occur, the withdrawal will need to go back to the source. Once all deposited funds are returned to the third-party account, you can use the payment method in your name to withdraw profits.

While the above covers the most common reasons withdrawal requests may be rejected, it is crucial to check the specific email sent to you for your situation.