【1】Withdrawal Process and Status
Kindly
refer to the following step-by-step explanation for the account opening
procedure:
Step 1 Withdrawal Request: Client initiates a withdrawal request
Step 2 Initial Review: System performs an initial review of the withdrawal request
Step 3 "Submit" Status: Requires third-party approval (e.g., main MAM, risk control, or other departments):
- Trading accounts under MAM group
- Large withdrawal applications
- Applications stuck due to system anomalies
* Review results:
a. Auto Pass: System automatically approves, moving to "Accept" status.
b. Manual Pass: Requires manual review, moves to "Accept" status if approved.
c. May directly enter "Reversed" status if requirements are not met.
Step 4 "Accept" Status: Withdrawal request is accepted, awaiting further processing:
* Review results:
a. OP Review Passed: Withdrawal order enters bank / channel operation stage.
b. OP Review "Pending": Waiting for additional information or confirmation (wire transfer fee confirmation / channel system issues preventing processing / unresolved customer complaints or abnormal transaction cases). "Pending" status is reviewed again by OP; if approved, it enters bank/channel operation stage; if not approved, the withdrawal order is reversed.
c. Withdrawal Application "Reversed" (customer requested cancellation / violation of VT withdrawal rules / customer complaints or abnormal transactions requiring deductions)
Step 5 Bank/Channel Processing:
a. Success: Funds successfully transferred to the client's withdrawal account, transaction completed.
b. Failure: Funds returned to the client's trading account, transaction failed, withdrawal order reversed. Specific reasons will be displayed in the Process Note field on CRM.
Sales are recommended to remind clients of the following:
- Ensure withdrawal method matches deposit method; credit card deposits must be withdrawn to credit card first
- Confirm bank account name matches client's ID; for joint accounts, verify he / she is one of the account holders
- Withdrawals only allowed to accounts in client's name
- Accurately enter bank account details, crypto address, or e-wallet information
- Enter withdrawal amount (typically limited to margin, may be less with open trades)
- Choose appropriate withdrawal channel
Estimated arrival times:
- Credit card/Wire transfer: 3-7 business days
- Local Bank Transfer: Within 1 day
- UnionPay Transfer: 1-3 business days
- Crypto: Within a few hours
- E-Wallet (except Interac): Within a few hours
- Interac: Depends on client action*
*Interac sends an email with a link after processing. Clients must click the link to receive funds; actual arrival time depends on when the client clicks the link.