WikiFX

Sagot

Based on my careful research and experience navigating various forex brokers, including ones regulated in Cyprus like XSpot Wealth, the documents required for a first-time withdrawal are usually straightforward but strict due to regulatory compliance. Typically, you’ll have to provide a government-issued photo ID (such as a passport or driver's license), proof of address (commonly a recent utility bill or bank statement dated within the last three months), and possibly the proof of deposit method, especially if you used wire transfer — which, from what I’ve gathered, appears to be the main method supported by XSpot Wealth. These procedures are standard practice with CYSEC-regulated brokers to comply with anti-money laundering regulations. However, I must stress my concern given the overwhelming number of client reports alleging difficulties and, in some cases, inability to withdraw funds despite providing all necessary documentation. Even with the right paperwork, users have cited pending withdrawals, requests for extra fees, or unresponsive support. This raises significant red flags for me as a cautious trader. Personally, I would double-check all document requirements with official customer support and document every interaction meticulously, as this level of diligence is essential with any broker, but especially one with a history of withdrawal complaints as in XSpot Wealth’s case.