Why is it so hard to deposit & withdraw fund from gotrade in malaysia
8/22/2024 02:57am
It can be difficult to deposit and withdraw funds from GoTrade in Malaysia due to several factors:
1. **Banking Regulations**: Malaysia has strict banking regulations that require financial institutions to comply with anti-money laundering and terrorism financing laws. This can make it more difficult for some users to deposit and withdraw funds, as they may need to provide additional information or meet certain criteria to satisfy these regulations.
2. **Payment Processor Costs**: GoTrade may charge a fee for each withdrawal, which can add to the overall cost of the transaction. Additionally, payment processors such as Wise may also charge a fee for handling the withdrawal, which can further increase the cost.
3. **Currency Conversion**: If the user is depositing or withdrawing funds in a different currency than the account base currency, there may be additional fees for currency conversion. This can result in a higher overall cost for the transaction.
4. **Technical Issues**: There may be technical issues or delays in processing deposits and withdrawals, which can cause frustration for users.
Overall, the difficulty in depositing and withdrawing funds from GoTrade in Malaysia is likely due to a combination of these factors. Users should carefully review the fees and procedures for deposits and withdrawals before using the platform, and be prepared to provide any necessary information or meet any requirements set forth by the banking regulations.