IC Markets
A delayed withdrawal is frightening because the worst-case story, a broker that simply keeps your money, is real. But most delays have ordinary causes you can prevent or fix quickly. The skill is telling an ordinary delay from a warning sign. This guide covers both.
The ordinary causes
| Cause | Fix | How long it adds |
|---|---|---|
| Identity verification incomplete | Upload and get all documents approved | 1 to 3 days |
| Withdrawing to a different method than you deposited | Return funds to source first, then withdraw the rest | 1 to 2 days |
| First withdrawal review | Do a small test withdrawal early | 1 to 2 days |
| Weekend or public holiday | Request early on a weekday | Up to 3 days |
| Active bonus or volume condition | Meet or forfeit the bonus, read the terms | Varies |
| Large amount over a daily limit | Split the withdrawal or request a manual release | 1 to 2 days |
The source-of-funds rule
Anti-money-laundering rules mean brokers usually have to send your money back the way it came, up to the amount you deposited, before paying the rest to another method. If you funded R5,000 by card and want to withdraw R8,000, expect R5,000 to the card and R3,000 by EFT. This is normal and not a delay tactic, but it surprises people. Plan withdrawals around it.
The warning signs
- The broker asks for a new document every time you respond, never quite completing verification.
- A stated withdrawal time passes with no update, and support gives non-answers.
- You are told to deposit more, pay a "release fee" or pay "tax" to unlock the withdrawal. This is always a scam.
- The rules change between your first and second withdrawal.
- The broker is not on the FSCA register, or its licence status has changed.
No legitimate broker ever requires a payment from you to release a withdrawal. A request to pay a fee, a tax, or a deposit top-up to get your own money out is a definitive sign of a scam. Stop sending money immediately.
Zanele's withdrawal stalled and support asked for a proof of address, then a bank letter, then a selfie with her ID, over eight days, never confirming she was verified. She checked the broker on the FSCA register and found the licence had been provisionally withdrawn. After a written complaint that referenced the FSCA action, she recovered most of the balance. A trader friend at a locally licensed broker had a document query resolved in a single phone call the same week.
How to escalate a genuine delay
- Put the complaint in writing to the broker, with your withdrawal reference, the date requested, and the broker's own stated processing time. Ask for a specific completion date.
- Keep every response. Screenshot the account balance, the withdrawal status and each support message.
- If it is a locally FSCA-licensed broker and it does not resolve, lodge a complaint with the FSCA and, for an eligible dispute, the relevant Ombud. Reference the broker's licence number.
- If it is an offshore broker, your options are the offshore regulator and a public review record. This is why the local licence matters.
- Do not deposit again, do not pay any fee, and do not accept a 'bonus' in place of your withdrawal.
How to keep withdrawals clean
- Use a locally FSCA-licensed broker with a local office and phone support.
- Complete all verification when you open the account.
- Do a small test withdrawal within the first week.
- Skip deposit bonuses so nothing is locked.
- Withdraw profits regularly rather than letting a large balance build.
- Keep records of every request, including screenshots and reference numbers.
Ninety per cent of withdrawal delays are verification, return-to-source, or the weekend, and they clear in a couple of days. The other ten per cent are the broker, and those never get better. To stay out of that second group, use a locally licensed broker and test the withdrawal process while your balance is small.
Frequently asked
Why is my forex withdrawal delayed?
Most often because your identity verification is incomplete, you are withdrawing to a different method than you deposited from, it is your first withdrawal, or it is a weekend. An active deposit bonus with a volume condition also holds withdrawals.
What is the return-to-source rule?
Anti-money-laundering rules require brokers to refund your money the way it came, up to the amount deposited, before paying the rest to another method. If you deposited by card, that amount goes back to the card first.
Is being asked to pay a fee to withdraw normal?
No. It is never legitimate. Any request to pay a release fee, a tax, or an extra deposit to unlock your own withdrawal is a scam. Stop sending money and treat the account as lost.
How do I avoid withdrawal delays?
Use a locally FSCA-licensed broker, complete all verification upfront, do a small test withdrawal early, avoid deposit bonuses, and withdraw profits regularly rather than letting a large balance accumulate.
What should I do if a withdrawal is genuinely stuck?
Confirm your verification and that you are withdrawing to source, then contact support in writing with your reference number. Check the broker's FSCA status. If it is a licensed broker, escalate to the FSCA and the Ombud; if it is offshore, your options are limited.