How to withdraw money from flatex

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

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

However, bank transfer is the only withdrawal option available at flatex, 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 flatex and it took us more than 3 business days - a little bit on the slow side compared with most other brokers.

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• Enter the amount to be withdrawn, and, if prompted, a short reason or description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

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 flatex is free of charge. See the table below for details and possible exceptions, as well as how flatex compares with some of its immediate competitors.

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