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

moomoo withdrawal fees and options snapshot
moomoo Webull Alpaca Trading
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee ACH is free, while domestic wire transfer costs $25 and international wire transfer costs $45 Free withdrawal, but domestic wire transfers cost $25 and international wire transfers cost $45 ACH withdrawal is free of charge, while wire transfer costs $25 in the US and $50 internationally

How to withdraw money from moomoo
moomoo withdrawal options

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

However, bank transfer is the only withdrawal option available at moomoo, 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 moomoo 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 moomoo, 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  • Enter the amount to be withdrawn, and, if prompted, a short reason or description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 moomoo
moomoo 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, moomoo has no free withdrawal options. See the table below for details, and also how moomoo's fees compare with some of its immediate competitors.

moomoo withdrawal fees
moomoo Webull Alpaca Trading
Domestic bank withdrawal ACH is free, but domestic wire transfer costs $25 Free ACH withdrawal, but wire transfers cost $25 Free ACH withdrawal, while wire transfer costs $25
International bank withdrawal $45 per withdrawal $45 per withdrawal $50 for international wire transfer
Credit/Debit card withdrawal Not available Not available Not available
Electronic wallets withdrawal Not available Not available Not available

How to withdraw money from moomoo
Bottom line

moomoo withdrawal is only available via bank transfer, and it also involves a fee. This is not an ideal combination, as there are many brokers out there that offer free withdrawal and/or additional options such as withdrawal to credit/debit cards.

To see how moomoo'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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