Bank transfers to and from a forex broker

What a broker bank transfer is

A broker bank transfer moves money between your bank account and your trading account at a broker. In a deposit, your bank sends money to the broker's receiving account. In a withdrawal, the broker sends money back to an account in your name.

There are two broad types:

• Local transfer. Both banks are in the same country and the payment runs through the domestic clearing system. It is usually cheaper and faster.
• International transfer. The payment crosses borders, usually through SWIFT, the messaging network banks use for cross-border payments. It often passes through intermediary banks and may involve currency conversion.

Pakistani rules come before any method

Readers in Pakistan should know what the State Bank of Pakistan (SBP) has said about this before looking at any payment method:

• On remittances: per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
• On residents' purchases: per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947.
• On protection: per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.

A bank in Pakistan can block or return such a payment, and you may have no local route to recover funds if something goes wrong. Read Law and regulators and Regulation and Safety before you send money anywhere.

How an Exness bank transfer is handled

Exness does not publish a fixed list of payment methods per country. Its own wording is that the methods are shown only in the Personal Area; depends on registered region. Whether a bank transfer appears for you, and in which form, is something you see only in your Personal Area, not on our site.

The deposit process Exness describes is: register and verify your account, choose one of the available payment methods, complete your deposit request. Exness states that the minimum deposit for Standard accounts is from 10 USD; may vary by location or payment method, and for professional account types at least 200 USD (depending on regional requirements). Check the current limit for your chosen method in the Personal Area. For more detail, see Exness deposit.

Fees: where the money goes

Exness states that Exness covers third-party costs; some deposit fees may apply on specific methods. That covers the broker's side. On a bank transfer, other parties can also take a share:

• Your own bank may charge a fee for outgoing or incoming transfers. Ask your bank for its current fee schedule.
• Intermediary (correspondent) banks on an international transfer can deduct a fee from the amount in transit. The amount that arrives can then be lower than the amount you sent.
• Currency conversion. If your bank account, the transfer currency and the trading account currency differ, a conversion rate applies at one or more points. See Currency conversion.

On SWIFT transfers, banks often let you choose who pays the charges: you, the receiver, or both. The choice changes how much arrives. More on costs is in Payment fees.

Reference numbers and matching

A bank transfer arrives as a plain payment. The broker has to match it to your account. For this reason, brokers often ask you to include a reference or account identifier in the payment details. If it is missing or wrong, the deposit can be delayed or returned.

Before sending:

1. Copy the receiving details exactly as shown in your Personal Area.
2. Include any reference the deposit screen asks for.
3. Send from an account in your own name.
4. Keep the bank's transfer confirmation until the funds are credited.

Timing

Exness states that deposits and withdrawals can be executed 24/7. It also explains that 'instant' means processed automatically; delivery time depends on the payment method, and that within 24 hours if not instant.

Bank transfers add the bank's own timing. Banks often process outside working hours only partly, and international transfers that pass through intermediary banks can take longer than local ones. Weekends and bank holidays push transfers further. See Withdrawal time and Payment processing hours.

Forex withdrawal to a bank account

Exness rules that apply to any withdrawal method:

• Funds go to own personal payment accounts only.
• The amount you can withdraw is up to free margin. Free margin is the part of your equity not used to hold open positions.

Withdrawals can also be limited to the method you used to deposit. Check the current rules in your Personal Area and in Withdrawal rules. If a request is stuck, see Withdrawal problems.

Leveraged CFD and forex trading can lose money fast, including the money you transferred. Only move funds you can afford to lose.

Bank transfer compared with other methods

For an overview of all methods, see Deposits and withdrawals and Payment security.

Frequent questions

Does Exness offer bank transfer in Pakistan?

Exness says the payment methods are shown only in the Personal Area; depends on registered region. Check your Personal Area, and read the SBP position above first.

Why did less money arrive than I sent?

On an international transfer, intermediary banks or currency conversion can reduce the amount. Your own bank may also charge a fee.

Can I withdraw to a family member's bank account?

No. Exness states that funds are withdrawn to own personal payment accounts only.

What if I forgot the reference number?

Contact Exness support with your bank confirmation. Without a reference, matching the payment can take longer.

How long does a bank withdrawal take?

Exness processes requests automatically or within 24 hours if not instant. The time for the bank to deliver the funds is separate and depends on the banks involved.