When trading, the ability to withdraw funds quickly and efficiently is crucial for managing your capital and ensuring liquidity. However, some brokers or trading platforms may introduce unnecessary hurdles during the withdrawal process. A particularly concerning practice is when a broker requests a bank video call to release funds. This request could be part of the broker’s verification process, but it often raises red flags and can be used to delay or prevent withdrawals, particularly when large sums of money are involved. Recognising this tactic is vital for ensuring that you don’t fall victim to unnecessary delays or potential fraud.

Why Would a Broker Request a Bank Video Call to Release Funds?

A legitimate broker typically requires basic identity verification and possibly proof of payment method to release funds, such as a withdrawal request form or scanned copies of documents. However, when a broker requests a bank video call to release funds, it usually happens for the following reasons:

• Unusual verification requirements: The broker may claim this video call is part of their Know Your Customer (KYC) process, but it could also be a tactic to create additional barriers for withdrawals, especially when the trader requests a large amount.
• Delaying or stalling withdrawals: Some brokers may use this video call request as a way to stall or delay withdrawals, forcing traders to spend time completing additional steps before their funds are released.
• Creating unnecessary complexity: By requesting video calls for bank withdrawals, the broker introduces additional complexities that may discourage traders from pursuing their withdrawal requests or lead to frustration.
• Avoiding regulatory scrutiny: In some cases, brokers may use excessive verification processes to avoid complying with regulations or to hide certain aspects of their operations that could raise questions.
• Fraudulent or misleading practices: In more extreme cases, brokers may request video calls as part of a fraudulent strategy to gather sensitive personal information or to trick traders into revealing banking details or access credentials.

Legitimate brokers should provide clear and straightforward withdrawal procedures, without imposing additional, unnecessary barriers like video calls, especially for clients who have already completed identity verification.

The Risks of Being Asked for a Bank Video Call to Release Funds

Delays in accessing your funds:
The requirement for a video call can delay the withdrawal process, especially if you’re unable to schedule the call immediately or if the process is complicated or time-consuming.

Unclear or unreasonable demands:
The request for a video call may be a tactic to make the withdrawal process more difficult, leading to unnecessary delays or complications for the trader.

Risk of phishing or fraud:
A video call may be part of a scheme to collect sensitive information or to manipulate traders into revealing banking details, personal identification numbers, or other private data.

Loss of trust in the broker:
Constantly being asked to jump through additional hoops to access your funds may lead to a breakdown of trust between you and the broker, particularly if these steps aren’t clearly justified or communicated.

Hidden fees or conditions:
Some brokers might use video calls as a way to enforce hidden withdrawal fees or create additional conditions that were not part of the original agreement.

Signs That a Broker Is Using the Bank Video Call Request as a Stalling Tactic

Frequent requests for video calls after profit-making trades:
You notice that the broker asks for a video call to release funds, particularly after you’ve made a profit or are withdrawing a large sum, suggesting the request might be an attempt to delay or restrict access to your funds.

Vague or inconsistent communication:
When you ask about the necessity of the video call or how it fits into the withdrawal process, the broker offers vague or contradictory explanations, making it unclear why such a step is needed.

Inability to schedule the video call promptly:
You are unable to schedule the video call at a convenient time or face significant delays in setting up the call, which further prolongs the withdrawal process.

Requests for unnecessary personal information during the call:
During the video call, the broker asks for information that goes beyond normal KYC requirements, such as asking for private banking credentials or other sensitive data.

No clear explanation of why this process is required:
You are unable to find any clear terms or explanations on the broker’s platform justifying the need for a video call to release funds, and you are left in the dark about why this is necessary.

What to Do If a Broker Requests a Bank Video Call to Release Funds

Request clear, written documentation:
Ask the broker to provide a detailed written explanation of why the video call is necessary for your withdrawal. Request confirmation that this process complies with the platform’s terms of service and regulatory requirements.

Verify the broker’s legitimacy and terms of service:
Review the broker’s terms and conditions to confirm that the video call requirement is stated as part of their withdrawal policy. If it’s not mentioned, question the legitimacy of this request.

Document all communication:
Keep a record of all communication with the broker regarding the video call request, including emails, chats, and screenshots. This documentation may be useful if you need to escalate the issue.

Avoid sharing sensitive information:
During the video call, avoid sharing sensitive banking information, passwords, or any personal details that are unrelated to the withdrawal process. Be cautious about revealing any private data.

Submit a formal complaint:
If the video call is part of an unfair or excessive procedure, submit a formal complaint to the broker, questioning the necessity of the process and requesting a resolution.

Report to the regulator:
If your broker is regulated, such as Intertrader, AvaTrade, TiBiGlobe, Vantage, or Markets.com, escalate the issue to the relevant financial authority, providing evidence of the unfair withdrawal process and seeking their intervention.

Withdraw funds if necessary:
If the broker is unable or unwilling to provide a satisfactory explanation for the video call request or continues to delay your withdrawals, consider withdrawing any available funds and moving to a more transparent and reliable broker.

Warn other traders:
Post your experience on independent review platforms or social media to warn other traders about brokers who use excessive verification steps, such as video calls, to delay withdrawals.

How to Avoid Brokers Who Request Unnecessary Video Calls for Withdrawals

Choose brokers with transparent withdrawal policies:
Select brokers who clearly outline their withdrawal process, including the steps involved and any necessary verification requirements. Ensure there are no hidden steps or excessive barriers like video calls.

Ensure the broker is regulated by a reputable authority:
Regulated brokers are required to adhere to strict guidelines for client withdrawals, ensuring that the process is straightforward and transparent without unnecessary delays or requirements.

Test the broker with a small withdrawal first:
Before committing large sums of money, test the broker’s withdrawal process with a small amount to ensure that it’s efficient and that there are no hidden requirements, such as video calls.

Look for brokers with reliable customer support:
Choose brokers that offer responsive customer support, which can assist you with any withdrawal issues quickly and transparently, without forcing unnecessary steps like video calls.

Read reviews from other traders:
Check for reviews from other traders to ensure that the broker has a track record of allowing smooth and efficient withdrawals without unreasonable hurdles.

Conclusion

When a broker requests a bank video call to release funds, it raises serious concerns about the broker’s intent and transparency. While verification is an essential part of the financial industry, excessive and unclear requirements like video calls can be used to delay or block withdrawals, making it harder for traders to access their funds. Always choose brokers that offer clear and fair withdrawal policies, ensuring that your trading capital remains accessible when you need it.

Learn how to protect your funds, spot broker manipulation early, and ensure a seamless trading experience by joining our Trading Courses. Stay informed, stay empowered, and make sure your trading success is never hindered by unnecessary withdrawal barriers.