Wire transfers with us are affordable and available in Naira and USD locally. You can make a deposit to your trading account via wire transfer to one of our company accounts at the following banks:
- Diamond Bank
- First Bank Plc
- Guaranty Trust Bank
- Keystone Bank
- Zenith Bank
- Payments from third parties are not accepted. The name of the sender must match the name on your trading account.
- ForexTime (FXTM) trading accounts are in EUR, GBP and USD only. Funds sent in a different currency will be converted to the deposit currency of your account. You may be charged a fee for the conversion.
- The sending bank or correspondent bank may deduct a fee for processing a wire transfer. ForexTime (FXTM) does not apply any fees and will deposit the net amount received to your account.
- If the transaction goes through, the funds will be posted to your trading account upon receipt by ForexTime (FXTM). The processing time is generally 1-3 business days. There may be a delay if the bank or ForexTime (FXTM) is unable to verify your information. Please save your bank wire confirmation so we can check all details if necessary.
- Funds deposited by wire transfer may be withdrawn to any bank account in your name.
- The withdrawal of your initial deposit can only be made to the same bank account from which you originally deposited.
- If you transfer funds into a local bank account in Nigeria please be ready to provide payment confirmation:
- If you have transferred funds from your bank account, it could be a bank statement or screen short from your online banking system.
- If you have transferred funds from a bank cashier, please ask them to provide you with any payment confirmation made (receipt, teller, etc.).
- When filling out a direct transfer form at a bank or when making a transfer online (Internet banking), make sure you indicate your trading account number or your MyFXTM number in the “Remarks” field.
- For all commissions charged when funding your account, ForexTime (FXTM) will reimburse you 100%.
- Withdrawals to third parties are not allowed. You may only withdraw funds from your ForexTime (FXTM) account to a bank account opened under the same name.
- You can transfer funds to any bank account in your name. The withdrawal of your initial deposit can only be made to the same bank account from which you originally deposited.
- There is no minimum withdrawal amount. Please note that the fee for processing fund withdrawals will be subtracted from the amount withdrawn.
- Make sure that you have sufficient free margin in your account to cover your withdrawal. If you do not, you may choose to close open positions on your account.
- Withdrawals are processed by ForexTime (FXTM) within two business days of your request. The funds will be posted to your bank account within 1-3 business days of being processed by us. There may be a delay if we are unable to verify your information.
- Be careful when filling out the bank details. If a mistake has been made, you will be charged a fee of 1.5% of your withdrawal amount.