GO Markets withdrawal at a glance

When you are using an online broker for your trading/investing, there will come a point when you may want to enjoy the potential 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 GO Markets fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from GO Markets and how GO Markets's withdrawal fees and options compare to some of its close competitors.

GO Markets withdrawal fees and options snapshot
GO Markets Fusion Markets Vantage
Bank transfer Yes Yes Yes
Credit/debit card No Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee No withdrawal fee Free withdrawal for free for credit/debit cards and bank transfers. International bank transfer costs AUD 20. Credit/Debit card and electronic wallet withdrawals are free of charge. One bank transfer withdrawal is free in each month, all additional withdrawals within the month are charged 20 unit of your account currency ($20, €20, etc.)

How to withdraw money from GO Markets
GO Markets withdrawal options

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

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

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 GO Markets and it took us 1 business day. It doesn't really get any better than this!

To withdraw money from GO 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

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

How to withdraw money from GO Markets
GO 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.

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

GO Markets withdrawal fees
GO Markets Fusion Markets Vantage
Domestic bank withdrawal No fees charged Free for bank withdrawal in Australia Free for bank withdrawal in Australia
International bank withdrawal No fees charged Minimum withdralaw is 30 AUD to cover 25 AUD bank charge One bank transfer withdrawal is free in each month, all additional withdrawals within the month are charged 20 unit of your account currency ($20, €20, etc.)
Credit/debit card withdrawal Not available Free for credit/debit cards Free for credit/debit cards
Electronic wallets withdrawal No fees charged Not available Free for Skrill, Neteller

How to withdraw money from GO Markets
Bottom line

GO Markets withdrawal is free of charge in most cases and you have multiple options for withdrawing your money, making it relatively easy to access your funds.

To see how GO 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

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

Visit GO Markets
62% of retail CFD accounts lose money

Share

Comments

×