Discussion of article "Payments and payment methods" - page 186

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Dustin Vlok #:
For sellers from South Africa, I managed to withdraw successfully to my FNB visa card, so if you have been struggling to withdraw try FNB. 
Thank you. All roads, lead to FNB SA. 
Lemme tey creatingban account online
 
Jefferson Judge Metha #:
It is based on my assumption. Several years back metaqoutes remoced paypal, and we complained regardless of them stating that paypal wont come back they brought it back. 
This year, the paypal issue has caused some people not to work, meaning they now working directly with customer not via mql5, maybe via other sites. This will cause boards to question whya decrease in projections.. 
Tgey might not be listed and publicly traded, but what we do know is that they are a profit making organisation. 

they still make their profit automatically. The 20% is taken out. the developer is the one not making any money as the money is stuck 

 
Davi Santos Da Silva #:
What is the possibility of adding cryptocurrency withdrawals?

This would definitely be the easiest and most inexpensive fix. Using something like XLM or XRP that is cheap and fast would be awesome.

 
MetaQuotes:

The article Payments and payment methods has been published:

Author: MetaQuotes

(?) Why WebMoney was cancelled for account replenishment ?????

... but left WebMoney only for withdrawal of earned money ....

 
Miguel Angel Vico Alba #:
Hey, everybody,

I have seen a lot of bewilderment and frustration from users from different countries about why some payment methods are not available at MQL5.com, why card withdrawal does not work in many regions or why bank withdrawal has such a high minimum. Therefore, I decided to share my personal point of view based on experience and publicly available information. This is in no way official information and I'm not trying to defend MetaQuotes. I'm just trying to shed light on things that many users may not be aware of.

This problem doesn't just exist in the US. People from Kenya, India, Argentina, South Africa and many other countries suffer from the same restrictions. And often the reason is not really MetaQuotes, but local laws, financial systems and payment networks.

Why is PayPal not supported?


Why can't users in some countries withdraw funds to their Visa or Mastercard cards?

Why is the minimum amount for a bank transfer $3,000?


Again, this doesn't mean you're justifying anything. There are things MetaQuotes could definitely improve on: more flexible withdrawal options, better customer support, and clearer communication. But it's also true that many of the obstacles users face come from outside the company: national laws, financial regulations, banking policies, and payment network rules.

Understanding this won't solve the problem, but it may help some to realise that the situation is more complex than it first appears. This alone can help reduce frustration.

If anyone has additional information or corrections to share, I'd be happy to read them. The more we understand, the better decisions we can make.

I don't know much about financial systems and payment networks. I propose to make an option to withdraw funds from MQL5 services account to a real MT5 trading account. (And vice versa.) Withdrawal of funds from the latter is handled by brokers in the field.

I hope that such a transfer will be internal for MetaQuotes.

 
Putnik #:

I don't know much about financial systems and payment networks. I propose to make an option to withdraw funds from MQL5 services account to a real MT5 trading account. (And vice versa.) Withdrawal of funds from the latter is handled by brokers in the field.

I hope that such a transfer will be internal for MetaQuotes.

I understand the reasoning behind your idea, but unfortunately it's not something that can be implemented in practice.

MetaQuotes is not a broker and doesn’t provide any financial services. It has no access to users’ trading accounts or their funds. Those are managed entirely by brokers, which are independent entities operating under their own licenses and jurisdictions. There’s no technical or legal connection between MQL5 balances and MetaTrader trading accounts.

Allowing internal transfers between an MQL5 services wallet and a trading account would mean MetaQuotes acting as a financial intermediary, which would require regulation, licensing, and infrastructure that go far beyond its current role as a platform developer.

 
I still suggest, PayPal can be brought back for just withdrawals, this will almost completely solve the withdrawal issue.
 
Ifeanyi Paul Ezendukaku #:
I still suggest, PayPal can be brought back for just withdrawals, this will almost completely solve the withdrawal issue.

In my opinion, when PayPal cuts ties with a company, it does so both ways. They can’t say, You’re not allowed to accept payments (deposits on MQL5) but still allow sending payments (withdrawals via MQL5).

 
Miguel Angel Vico Alba #:

I understand the reasoning behind your idea, but unfortunately it's not something that can be implemented in practice.

MetaQuotes is not a broker and doesn’t provide any financial services. It has no access to users’ trading accounts or their funds. Those are managed entirely by brokers, which are independent entities operating under their own licenses and jurisdictions. There’s no technical or legal connection between MQL5 balances and MetaTrader trading accounts.

Allowing internal transfers between an MQL5 services wallet and a trading account would mean MetaQuotes acting as a financial intermediary, which would require regulation, licensing, and infrastructure that go far beyond its current role as a platform developer.

Yet right now Metaquotes has turned themselves into a "financial intermediary" without realizing it.  When you are holding $1-$2999 for hundreds of global customer accounts this makes you an international bank aka "financial intermediary" between customers and their cash.  An international bank without adhering to any banking rules.

 
vimql #: Yet right now Metaquotes has turned themselves into a "financial intermediary" without realizing it.  When you are holding $1-$2999 for hundreds of global customer accounts this makes you an international bank aka "financial intermediary" between customers and their cash.  An international bank without adhering to any banking rules.

I understand the frustration with the $3000 withdrawal threshold, but that does not make MetaQuotes a "bank" or a financial intermediary.

Under PSD2 (EU) and the Bank Holding Company Act (US), a company is only considered a financial intermediary if it offers payment services between third parties, holds client funds for investment purposes, or connects to financial institutions. MQL5 does none of that.

The MQL5 wallet is a closed-loop prepaid system, meant solely for purchasing internal services (freelancers, signals, VPS, etc.). Even if funds are held until the threshold is met, there is no regulated financial activity involved.

You can fairly criticize the minimum withdrawal policy. But calling MetaQuotes a "bank" is legally and technically incorrect.

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