1️⃣How to Withdraw

To withdraw your funds: 1. Go to your Wallet 2. Click WITHDRAW and enter your withdrawal details 3. Confirm your withdrawal via email PIN code. Withdrawals are processed between 12 and 14 UTC

Withdrawals FAQ (Frequently Asked Questions)

How long do withdrawals take?

All pending withdrawal requests are processed once a day, between 12:00 - 14:00 UTC.

Withdrawals placed before 12:00 UTC are processed on the same day, while withdrawals placed after 12:00 UTC are processed the following day. The status of your withdrawals will be reflected on the Wallet page under the Transaction History section. As such a withdrawal system has proven to be the most secure and reliable in the industry, providing users with maximum safety for their account and funds, we chose to implement it on Margex.

Are there any withdrawal fees?

Margex does not charge any additional fees for withdrawals. However a blockchain miner fee, which is reflected in the withdrawal placement window will be incurred for any withdrawal.

Can I cancel my withdrawal?

Yes, a withdrawal can be cancelled at anytime before 12:00 UTC, by clicking the 'Cancel' button for the corresponding withdrawal on your Wallet page

When withdrawing, my balance available for withdrawal is less than my total balance for the selected coin. Why?

When placing a withdrawal, only the currently available balance can be withdrawn. Funds that are currently staked, reserved as margin in active orders, open positions, copy trading or other pending withdrawals cannot be placed in a new withdrawal.

I made a withdrawal yesterday, but my funds have not arrived. What is the status of my withdrawal?

When withdrawing funds, make sure to confirm the withdrawal using the withdrawal confirmation PIN-code sent to your email address. Once confirmed, your withdrawal transaction status will be reflected as Pending in your Wallet Transaction history.

Can I withdraw my funds to a bank?

Direct bank transfers are not available from Margex, however it is possible to use third-party services to exchange your crypto to various FIAT currencies and have them transferred to your bank

What is a MEMO tag? (XRP and TON)

A MEMO tag is the unique ID of a transfers which is used to determine the intended recipient of that particular transaction. When making a transaction on the XRP network (specifically to a centralized exchange and in some cases to decentralized platforms/personal wallets) it is crucial to always make sure that you have selected the correct MEMO tag when initiating your withdrawal from Margex account or deposit to your Margex account. Sending XRP/TON without specifying your unique MEMO tag may result in the permanent loss of funds.

What are Trust Lines? (RLUSD)

Trust Lines on the XRP blockchain network are essentially the equivalent of granting your destination wallet a permission to receive the specified token.

How to Withdraw

To make a withdrawal, navigate to the Wallet page.

1. Click Withdraw:

1. Enter your withdrawal details, including your withdrawal address, network and amount:

Withdrawal - details.png

Once you've entered your withdrawal details, click 'Continue.

1. Next, confirm your withdrawal by entering the PIN code from the confirmation email and click 'WITHDRAW'

Withdrawal - confirmation code.png

Withdrawal - confirmed.png

Once confirmed, withdrawals will be reflected as ‘Pending’ in the 'Withdrawals' tab:

When confirming a withdrawal, the withdrawal amount will be immediately reserved on your Wallet, with the Available balance decreasing accordingly.

How to Withdraw (XRP and RLUSD)

Due to the technical nature of the XRP blockchain - transferring funds on the XRP blockchain may require several additional steps, such as specifying a unique MEMO tag or enabling a Trust Line.

MEMO for XRP transfers

When initiating a withdrawal of XRP on the XRP blockhain - specifying a MEMO tag may be required. A MEMO tag is the unique user ID which is used to identify the intended recipient of that particular transfer. Generally a MEMO tag is required for deposits to any exchange. Your unique MEMO tag can be found in your wallet on the exchange to which you want to transfers funds. Sending funds to an address that requires a MEMO tag, without specifying your MEMO may result in the permanent loss of funds.

Trust Lines for RLUSD transfers

Enabling a Trust Line on your destination address for a particular token on the XRP blockchain will allow that destination address to receive and accept that particular token. Essentially a trust line is the equivalent to granting your destination wallet permission to receive the specified token. Currently we offer deposits/withdrawals for RLUSD (Ripple USD) - this means that a Trust Line for the RLUSD token must be enabled on the address to which RLUSD is being withdrawn.

To learn how to enable a trust line for RLUSD (XRP blockchain) on your personal ledger/wallet we would recommend to check out tools such as XRPToolKit.

Generally any centralized exchange which accept deposits for RLUSD will already have a trust line enabled for the corresponding token.

To check if the receiving address has enabled a trust line for RLUSD and can accept this token:

1. Navigate to an XRP blockchain explorer (for example https://xrplexplorer.com/explorer/)

2. Search your destination address

3. Check the list of accepted TOKENS (see screenshot below):

Transfers of RLUSD on the Ethereum network do not require a Trust Line.

How to cancel a withdrawal

A pending withdrawal can be cancelled at anytime prior to the withdrawal processing period.

To cancel a withdrawal, navigate to the Wallet page, go to 'Withdrawals' tab and simply click on the 'Cancel' button on a withdrawal request you wish to cancel.

After cancelling a withdrawal, the funds reserved for the withdrawal are unlocked in your Wallet and can be used for further trading, copy trading or staking.