The international forex broker, RoboForex, has recently announced on their website that their clients can now use their China UnionPay bank cards for withdrawal of funds. Until recently, the cards can only be sued for fund deposits to RoboForex trading accounts.
Withdrawals can be made in Chinese yuans, avoiding extra calculations and currency conversions. The minimum sum that may be withdrawn is 50 CNY, with a fixed commission of CNY. Meanwhile, the maximum amount that you can withdraw in a single transaction is 50,000 CNY.
Aside from the China UnionPay bank cards, the RoboForex allows withdrawals using Visa/MasterCard cards. Funds can also be withdrawn through the electronic payment systems such as Skrill, Neterller, WebMoney, Qiwi Wallet, FasaPay, and Yandex.
RoboForex is registered and regulated in Cyprus and Belize. It is registered in the UK. The company is a member of the Investor Compensation Fund (ICF) of Cyprus that has insured deposits of up to 20,000 EUR. They offer leverages of up to 1:1,000, which doesn’t have any minimum deposits. Aside from the currencies, RoboForex offers Contracts for Difference (CFD) on stocks, spot oil, and indices.
This international forex brokerage firm is actually the most recent addition to the line of forex traders that allows withdrawals via the China UnionPay bank. To name a few, they include Five Stars Forex, Alfa Trade UK, Back Bay Markets, Atlas Capital FX, Easy-Forex, FBS, IV Brokers, Windsor Brokers, and Orbex.
The China UnionPay (CUP) is the one and only domestic bank card system in China. It is currently operating per approval of the Chinese central bank. To date, it already has 296 members, where 232 of which are in China. The CUP cards can be used in about 141 countries around the world. It is actually the second largest payment network in terms of processed transactions, trailing behind Visa.