WikiFX

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As someone who approaches new brokers with caution, I've learned that first-time withdrawals always come with regulatory requirements, particularly from firms licensed in the EU like NFS. While the WikiFX data doesn’t provide a specific withdrawal checklist for NFS, my experience with CySEC-regulated entities informs me of the typical industry-standard practices. In virtually all regulated environments, including Cyprus, first withdrawals require you to complete account verification. For me, this usually meant submitting clear, current identification, such as a passport or national ID, plus recent proof of address like a bank statement or utility bill—documents not older than three months. This isn’t just bureaucracy: it’s mandated by anti-money laundering laws. Brokers like NFS, as noted, state they don't hold client funds directly, acting instead as intermediaries; nonetheless, regulatory protocols on verifying client identity remain strict for all financial transactions within the EU. The process can feel laborious, but I see it as a necessary measure for both compliance and basic fund security. Sometimes, additional supporting information may be requested if there’s any discrepancy or if the payment method used for deposit and withdrawal differs. In writing this, I would emphasize preparing digital copies of your essential identification and ensuring all information matches your account profile exactly. This minimizes delays—the sort I’ve unfortunately experienced when details didn’t align. Overall, patience and having your documents in order are the best approach when withdrawing from regulated brokers like NFS for the first time.