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How to withdraw money from nextmarkets: methods and costs

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May 2024
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How can I withdraw money from nextmarkets?

One of the most common fears about trading online is, can I get my money back? And even if that's a given, will I face any extra costs, delays or difficulties as I try to withdraw my uninvested funds?

nextmarkets is a trustworthy broker that honors all withdrawal requests, but the process is not the most convenient. Read on to learn about potential costs, waiting time or restrictions.

Withdrawal at nextmarkets is fast, with several transfer options available
Tamás
Tamás Gyuriczki
Investments • Stock Market • Market Analysis

nextmarkets is one of many brokers I have tested throughout the years. I used my own money for trading - and then tried to get it back. Here's how it went:

  • No worries - nextmarkets is a reliable broker that lets you access your funds any time.
  • There are several ways to withdraw your money, including bank transfers.
  • In most cases, you can get your money back within 2 days.
  • nextmarkets charges $5 for basic withdrawals, but some methods may cost more.
  • Read our full review of nextmarkets for detailed funding and trading conditions.

First, let's see if nextmarkets is available in your country?

No, you can't open an account at nextmarkets if you live in the United States!
the United States

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43.26% of retail CFD accounts lose money

Disclaimer: 43.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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43.26% of retail CFD accounts lose money

You can withdraw funds from nextmarkets any time

Let me start with the good news: nextmarkets is considered a legit and trustworthy broker, where your money is in good hands, and you can withdraw it whenever you want to.

How to tell if a broker is trustworthy? In our view, a broker is considered legit if its operations are overseen by at least one top-tier regulator. At BrokerChooser, we only recommend such regulated brokers.

Unfortunately, the online trading industry is plagued by a large number of unregulated or scam brokers. Many of these simply refuse to return your money, or require outrageous percentage commissions before doing so. If you've heard about any broker that you're unsure about, check it against our scam broker list or discuss it in our Forum.

There are multiple ways to withdraw your money

So how to actually withdraw funds from nextmarkets? At nextmarkets, you have multiple options to choose from when you want to withdraw money. The most basic of these is bank transfer. This is a common option that is available at virtually all brokers, and nextmarkets is no exception.

In addition to bank transfer, nextmarkets 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 nextmarkets.

Broker
Bank transfer
Credit/debit card
nextmarkets
eToro
Trading 212
nextmarkets withdrawal options

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

Withdrawing money from nextmarkets - a step-by-step guide

How do you withdraw money from nextmarkets?

  • Log in to your account.
  • Hover over your profile in the top right corner and click 'Deposit and Withdrawal'.
  • Choose 'Withdrawal'.
  • Enter the withdrawal amount and your password.
  • Confirm the withdrawal request.
Withdrawal at nextmarkets

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43.26% of retail CFD accounts lose money

It usually takes no more than 1-2 days to receive your funds

Whatever method you use, withdrawals from a brokerage account are rarely instant. When I tried withdrawing funds from nextmarkets, I had to wait two business days for the money to arrive. Not the fastest for sure, but actually this is considered fairly normal in the online brokerage world.

Strict withdrawal times are not the only factor to keep in mind when you need to retrieve money from your broker account. The most important thing is that you can only withdraw uninvested cash from your brokerage account. If all of your funds are invested, you need to close some or all of your positions first to make the necessary amount of cash available in your broker account.

Converting your assets to cash often takes additional time. For example, if you sell a stock, it will take another day (or most likely two) for the transaction to settle and for the cash proceeds to appear in your brokerage account.

So what I would normally do is think ahead depending on how urgently I needed the money. For example, if I needed $1,000 cash on Monday and it was still all tied down in stocks or some other assets at nextmarkets, I would probably

  • log in to my nextmarkets account as much as a week earlier, to sell stocks or other assets worth $1,000 (or maybe a bit more to cover any withdrawal fees; see next chapter).
  • Then I would check back a day or two later (around the middle of the week) to see if the asset sale has been completed and if the cash has appeared in my broker account.
  • If yes, I would then initiate the withdrawal, so that the money arrives in my personal bank account or on my card (whichever applicable) by next Monday at the latest.

Basic withdrawals cost $5, but there may be exceptions

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. Unfortunately, nextmarkets has no free withdrawal options, as it charges a basic withdrawal fee of $5. See the table below for details, and also how nextmarkets's fees compare to some of its immediate competitors.

Broker
Withdrawal fee
Domestic bank withdrawal
nextmarkets
$5
$0.0
eToro
$5
$5.0
Trading 212
$0
$0.0
nextmarkets withdrawal options and fees

Conversion fees

In addition to any withdrawal fees, you should also be aware of potential conversion fees. These usually apply if your bank account or card is denominated in a different currency than the funds you are withdrawing from your broker.

At nextmarkets, the following account currencies are available: EUR, GBP.

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Further reading

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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Tamás Gyuriczki
Author of this article
As a financial expert with BrokerChooser, I play an integral role in the analyst team by actively reviewing many of the 100+ brokers that are listed on our site. I personally open accounts with real money, execute trades, test customer services. My hope is that my first-hand experience with these brokers, incorporated in our reviews, helps users find the most suitable broker for their needs.
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