How can I withdraw money from Pepperstone?
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?
Pepperstone is a trustworthy broker that honors all withdrawal requests. The withdrawal experience is great overall, but read on to see if you'll face any costs or restrictions in the process.
Pepperstone 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 - Pepperstone 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 1 day.
- Pepperstone charges $0 for basic withdrawals, but some methods may cost more.
- Read our full review of Pepperstone for detailed funding and trading conditions.
First, let's see if Pepperstone is available in your country?
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75.1% of retail CFD accounts lose money
Disclaimer: 75.1% 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.
75.1% of retail CFD accounts lose money
You can withdraw funds from Pepperstone any time
Let me start with the good news: Pepperstone 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 Pepperstone? At Pepperstone, 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 Pepperstone is no exception.
In addition to bank transfer, Pepperstone 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 Pepperstone.
You can also withdraw money to certain types of electronic wallets. This is a nice feature that isn't available at all brokers. At Pepperstone, you can withdraw money to the following electronic wallets: POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID
| Broker | Bank transfer | Credit/debit card |
|---|---|---|
| Pepperstone | ||
| IC Markets | ||
| Axi |
Whatever methods you use, you may only withdraw money to bank accounts, cards or wallets that are in your name.
Withdrawing money from Pepperstone - a step-by-step guide
How do you withdraw money from Pepperstone?
- Log in to your Pepperstone account
- Click 'Funds' in the menu on the left
- Click 'Withdraw Funds'
- Choose a withdrawal method
- Select the account you want to withdraw from
- Enter the amount
- Click Continue
- Finish your request
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75.1% 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. That said, when I tested withdrawal at Pepperstone, it took just one business day for the money to reach my account. That's about as good as it gets in this business!
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 Pepperstone, I would probably
- log in to my Pepperstone 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 $0, 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. But I have good news: basic withdrawal at Pepperstone is free of charge. See the table below for details and possible exceptions, and also how Pepperstone's fees compare to some of its immediate competitors.
| Broker | Withdrawal fee | Domestic bank withdrawal |
|---|---|---|
| Pepperstone | $0 | $0.0 |
| IC Markets | $0 | $0.0 |
| Axi | $0 | $0.0 |
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 Pepperstone, the following account currencies are available: AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD.
Visit Pepperstone
75.1% of retail CFD accounts lose money
75.1% of retail CFD accounts lose money
FAQ
How long do withdrawals take at Pepperstone?
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 Pepperstone and it took us 1 business day. Wire transfers could, however, take up to 3-5 days.
Which bank does Pepperstone use?
When it comes to depositing or withdrawing your funds, the bank details for Pepperstone can be found in the ‘Fund’ section of your secure client area on Pepperstone’s website. Go to ‘Add Funds’, then select ‘Bank Transfer’, where you will see the relevant bank details.
How to fund my Pepperstone account?
Simply log in to your secure client area and head to the ‘Funds’ tab and select ‘Add Funds’. Once you select the account you wish to fund, you’ll find a range of funding options to choose from.
Can I trust Pepperstone?
We, at BrokerChooser, only recommend reliable brokers. Pepperstone is regulated by top-tier regulators, such as the FCA in the UK. Pepperstone offers investor protection in the EU and the UK.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
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.
