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How to withdraw money from Webull: here’s what to know

It doesn’t matter whether you use an online broker for short-term trading or for long-term investments, there will come a time when you will want to take advantage of your trading activity if you have made profitable trades or you simply need access to your funds for whatever reason. To do that, you first need to withdraw money from your brokerage account.

This doesn’t sound very complicated, but brokers vary greatly in what withdrawal options they offer, as well as the speed and convenience of withdrawals. And while withdrawals from many brokers are mostly free, some brokers and some types of withdrawals may charge a fee. If you are new to this system, you may not be familiar with some of the features. So, here is how to withdraw money from Webull. Here is all you need to know.

Which withdrawal fees has Webull

While depositing money into a brokerage account is free in most cases, this is not always the case for withdrawals. International wire transfers and bank transfers, in particular, can sometimes charge high fees, so always check carefully to see if this applies to your transactions. Basic withdrawals to Webull are free of charge.

How to withdraw money from Webull

Withdrawing funds via bank transfer is by far the most common option. It is available at almost all brokers, and Webull is no exception. However, a bank transfer is the only withdrawal option available at Webull, which puts it at a disadvantage compared to brokers who also offer withdrawals to credit/debit cards or e-wallets. Speed also matters. Unlike some deposit options, withdrawals are rarely instant. Usually, it takes at least 1 business day to make a withdrawal, and often several business days.

If you want to withdraw money from Webull, you have to follow these steps:

  • First of all, sign in to your Webull account.
  • Then, select “Withdrawal” or “Withdrawal funds” from the appropriate menu.
  • Choose a withdrawal method and/or account to withdraw funds from.
  • Enter the amount to be withdrawn and, if prompted, a brief reason or description.
  • Finally, submit your request.

You have also to be aware that you may only withdraw money to accounts that are in your name.

What is Webull

Webull.com is a mobile app-based brokerage firm offering an advanced trading platform with commission-free trading. As part of the mobile fintech wave of zero-commission brokers competing with Robinhood, Webull stands out with a set of innovative platform enhancements that appeal to more experienced traders and self-employed investors. The characteristics of the additional features are certainly more suited to users who need more depth in terms of tools and data.

Webull Financial LLC is a Finra-registered broker-dealer based in New York and licensed in 53 states. The organization was established in May 2017 and received SEC registration in January 2018. Its CEO, Anthony M. Denier, boasts 15 years of professional experience in global brokerage services from eight firms ranging from ING Financial to Credit Suisse. There is no minimum deposit to open an account for normal trading. A minimum account balance of $2,000 is required for margin trading. If the balance falls below $2,000, there will be a forced liquidation.

Splaitor doesn’t provide any investment, money management, or trading advice. Read our Disclaimer to know more.

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