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

Brokerpoint withdrawal fees and options snapshot
Brokerpoint CapTrader TradeStation
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee Free withdrawal Free in the current calendar month, every additional bank transfer in the current month costs 8 Euro. $0 for ACH withdrawals, $35 for overseas and $25 for US wire withdrawals

How to withdraw money from Brokerpoint
Brokerpoint withdrawal options

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

However, bank transfer is the only withdrawal option available at Brokerpoint, putting it at a slight disadvantage over brokers that also offer withdrawal to credit/debit cards or electronic wallets.

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 Brokerpoint and it took us 2 business days, which is considered fairly average.

To withdraw money from Brokerpoint, 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  • Enter the amount to be withdrawn, and, if prompted, a short reason or description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

Please note that you may only withdraw money to accounts that are in your name.

How to withdraw money from Brokerpoint
Brokerpoint 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.

We have good news for you: basic withdrawal at Brokerpoint is free of charge. See the table below for details and possible exceptions, as well as how Brokerpoint compares with some of its immediate competitors.

Brokerpoint withdrawal fees
Brokerpoint CapTrader TradeStation
Domestic bank withdrawal Free withdrawal Free in the current calendar month, every additional bank transfer in the current month costs 8 Euro. Free ACH withdrawal, but wire transfers cost $25
International bank withdrawal Free withdrawal €1 per withdrawal $35 per wtihdrawal
Credit/Debit card withdrawal Not available Not available Not available
Electronic wallets withdrawal Not available Not available Not available

How to withdraw money from Brokerpoint
Bottom line

Brokerpoint withdrawal is free of charge in most cases. However, you can only do it via bank transfer; other convenient options such as withdrawal to credit/debit cards or electronic wallets are missing.

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

Author of this article

Tekla Csike

Author of this article

Tekla is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasing experience of learning constantly.

Tekla Csike

Intern

Tekla is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasing experience of learning constantly.

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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