WikiFX

Reply

In my experience evaluating brokers like MITO, it's crucial to approach withdrawal processes with care, especially when there is limited public information. MITO is a long-established, FSA-regulated company in Japan, which generally reassures me about their basic trustworthiness and adherence to regulatory standards. However, their website and available resources clearly state that all deposit and withdrawal fees, especially for foreign currency transfers, are borne by the customer, which can add to the total cost and possibly affect the speed of the transaction if intermediary banks are involved. For transactions through their Mito Net system, it’s indicated that transfer fees paid to and from MITO are covered by the broker, which is somewhat reassuring, though details about specific timeframes are not provided. In the absence of an official, clearly published withdrawal timeframe, I remain cautious and base my expectations on standard practices for brokers operating under Japanese FSA oversight. Typically, bank account withdrawals from regulated Japanese brokers may take anywhere from one to several business days, depending on both the bank’s processing speed and the time of request. There’s no mention of e-wallet support as an option, so I would not assume such methods are available. Overall, while regulation by the FSA gives me some confidence, I would only move larger amounts after personally confirming timely processing with small, initial withdrawals. When time or certainty is a priority, I always recommend direct contact with the broker’s customer support to clarify their current withdrawal process and expected duration.