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BlackBull Markets withdrawal at a glance

Whether you are using an online broker for short-term trading or for longer-term investments, there will come a point when you may want to enjoy the fruits of your trading activity if you've been making profitable transactions, or you just need access to your funds for any reason. To do that, first you have to withdraw money from your broker account.

That doesn't sound very complicated, but brokers differ considerably in what withdrawal options they offer (such as bank transfer or credit/debit cards), as well as in the speed and convenience of withdrawal. And while withdrawal at many brokers is free in most cases, some brokers and some types of withdrawals may involve a fee.

So how does BlackBull Markets fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from BlackBull Markets and how BlackBull Markets's withdrawal fees and options compare to some of its close competitors.

BlackBull Markets withdrawal fees and options snapshot
BlackBull Markets TMGM Fusion Markets
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee 5 base account currency (e.g $5) for withdrawals by card or electronic wallets, and 20 account base currency (e.g. $20) for international bank transefre Free withdrawal Free withdrawal for free for credit/debit cards and bank transfers. International bank transfer costs AUD 20.

How to withdraw money from BlackBull Markets
BlackBull Markets withdrawal options

Withdrawal via bank transfer is by far the most common option. It is available at basically all brokers, and BlackBull Markets is no exception.

In addition to bank transfer, BlackBull Markets also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for BlackBull Markets.

You can also withdraw money to electronic wallets. This is a nice feature that isn't available at all brokers. At BlackBull Markets, you can withdraw money to the following electronic wallets: Neteller, Skrill, China UnionPay, FasaPay.

Speed also matters. Unlike some deposit options, withdrawal is rarely instant. It usually takes at least 1 business day, but often several business days for your money to arrive.

We tested withdrawal at BlackBull Markets and it took us 1 business day. It doesn't really get any better than this!

To withdraw money from BlackBull Markets, you need to go through the following steps:

  • Log in to your account
  • Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
  • Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
  • Enter the amount to be withdrawn, and, if prompted, a short reason or description
  • Submit your request

Whatever method you use, you may only withdraw money to accounts or cards that are in your name.

How to withdraw money from BlackBull Markets
BlackBull Markets withdrawal fees

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. International bank transfers and wire transfers in particular can sometimes incur high fees, so always check carefully if this is something that would apply to your transactions.

Unfortunately, BlackBull Markets has no free withdrawal options. See the table below for details, and also how BlackBull Markets's fees compare with some of its immediate competitors.

BlackBull Markets withdrawal fees
BlackBull Markets TMGM Fusion Markets
Domestic bank withdrawal Free withdrawal Free withdrawal Free for bank withdrawal in Australia
International bank withdrawal 20 base account currency There is a $20-30 processing fee Minimum withdralaw is 30 AUD to cover 25 AUD bank charge
Credit/debit card withdrawal 5 base account currency Free withdrawal Free for credit/debit cards
Electronic wallets withdrawal 5 base account currency Free withdrawal Not available

How to withdraw money from BlackBull Markets
Bottom line

BlackBull Markets has multiple withdrawal options, though unfortunately none of them are free. This is a disadvantage, especially if you want to withdraw smaller amounts frequently.

To see how BlackBull Markets's withdrawal fees and options stack up against the rest of the brokerage market, check out our broker comparison tool.

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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