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Clients of RoboForex can now use the China UnionPay bank cards for funds withdrawal, the international forex broker announced on its website on January 29.
Until now those cards could only be used for depositing funds to RoboForex trading accounts.
The withdrawals can be made in Chinese yuans, thus avoiding additional calculations and currency conversion. The minimum sum that can be withdrawn is 50 CNY, with a fixed commission of 5 CNY. The maximum amount, withdrawn in one transaction, is 50 000 CNY.
Besides the bank cards of China UnionPay, RoboForex allows withdrawals with Visa/Mastercard cards. Funds can also be withdrawn with electronic payment system WebMoney, Skrill (Moneybookers), FasaPay, Neteller, Qiwi Wallet and Yandex.Money and via bank transfers.
RoboForex is an international forex broker registered and regulated in Cyprus and Belize and registered in UK. It is a member of the Investor Compensation Fund (ICF) of Cyprus, which insures investors’ deposits of up to 20 000 EUR. The company offers leverage of up to 1:1000 and requires no minimum deposit. Besides currencies, RoboForex offers trade in Contracts for Difference (CFDs) on stocks, indices and spot oil.
RoboForex is the most recent addition to the list of forex traders, allowing withdrawals via CUP. Among them are Five Stars Forex, Alfa Trade UK, Atlas Capital FX, Back Bay Markets, Easy-Forex, FBS, IV Brokers, Orbex and Windsor Brokers, to name a few.
China UnionPay (CUP) is the only domestic bank card system in China. It works under the approval of the Chinese central bank and has 296 members, 232 of which are in China. CUP cards can be used in 141 countries across the world. It is is the second-largest payment network in value of processed transactions, behind the global leader Visa.