Withdrawal Of Funds
Withdrawing funds from your JP Markets account is easy and quick. Withdrawal are processed Monday to Friday from 9am to 5pm, GMT +2 (South African Standard Time), with all others being acted on within 24 hours.
For security reasons, we will call you to verify the request- if you are expecting a withdrawal, please answer any 087, 010 or 021 calls to avoid further delays.
JP Markets only uses secure methods for sending your funds to you, and fully complies with internal and regulatory procedures to ensure the funds are safely processed.
Local Bank Transfers
Withdrawing funds to your South African Bank could take up to two days to receive, depending on the bank you are using. If you are using ABSA, Standard Bank, FNB or Nedbank you should receive payment the same day.
PayFast / Skrill
It is now easier and faster to pay out withdrawals to these online platforms, simply request it as such and we will handle the rest.
How to Perform a Withdrawal?
Please log in to your member area at secure.jpmarkets.co.za, and do an internal transfer from your trading account to your landing account.
Click on ‘Transfers’ on the top grey bar and select ‘Internal Transfers’ from the bar on the right hand side.
The ‘from’ account is your trading account and the ‘to’ account is your landing account.
Enter the amount (in your trading currency) that you would like to withdraw. We will process the conversion on our side and click on submit, and it will go to our finance department for verification.
Please Note: Ensure all documentation is in order before submitting your request, or it will be declined. We require clear, scanned copies of the following in order to process a withdrawal – ID, proof of address and bank statement confirming your INDIVIDUAL bank details – we are not allowed to process third party payments as per FSB regulations.
What happens next?
- Our compliance department will check your FICA documentation to ensure all in order.
- For security reasons, we will call you to verify the request- if you are expecting a withdrawal, please answer any 087 or 010 calls to avoid further delays.
- Should we be unable to reach you after 24 hours, your request will be declined and you will have to resubmit your application.
What do I need to know?
JP Markets follows strict compliance procedures including anti-money laundering rules designed to protect all clients. There are several details to be aware of:
- JP Markets does not allow third party payments. Funds can only be sent to an account in the same name as the JP Markets trading account.
- All withdrawals will be sent back to the original source up to the initial amount, except PayFast. Profit withdrawals or any amount over the initial deposit can only be sent via bank transfer.
- Funds can only be sent to a credit card if the initial deposit was in the last 120 days. If it exceeds 120 days, funds will be sent via bank transfer.
- In some instances, credit cards will not accept a deposit, depending on the issuing financial institution. In those situations, funds will be sent by bank transfer.
- We do not charge fees for withdrawing funds by bank transfers. However, please note that you will be liable for any fees charged by the banks involved in the transaction, including intermediaries. Withdrawals via credit card will attract a fee of R50.