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

Stake withdrawal fees and options snapshot
Stake Freetrade Alpaca Trading
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No Yes No
Withdrawal fee There is a $2 bank processing fee. Withdrawal only to domestic bank account in domestic currency (AUD or GBP). The fee is 70 FX points (0.5% for ULK customers) FX Fee with a minimum of $2. Free withdrawal, for the same-day withdrawal a £5 fee is charged ACH withdrawal is free of charge, while wire transfer costs $25 in the US and $50 internationally

How to withdraw money from Stake
Stake withdrawal options

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

However, bank transfer is the only withdrawal option available at Stake, 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 Stake and it took us 2 business days, which is considered fairly average.

To withdraw money from Stake, 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  • Enter the amount to be withdrawn, and, if prompted, a short reason or description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 Stake
Stake 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, Stake has no free withdrawal options. See the table below for details, and also how Stake's fees compare with some of its immediate competitors.

Stake withdrawal fees
Stake Freetrade Alpaca Trading
Domestic bank withdrawal There is a $2 bank processing fee. In addition, there is a currency conversion fee: spot rate plus 70 FX points mark-up with a minimum of $2 for Australians, while 0.5% with a $2 minimum for UK clients. Standard withdrawal is free, same-day withdrawal costs £5 Free ACH withdrawal, while wire transfer costs $25
International bank withdrawal Not available Not available $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 Stake
Bottom line

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

Author of this article

Gyula Lencsés

Author of this article

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He is eager to leverage his knowledge to guide you through the world of brokerage.

Gyula Lencsés

Broker Expert

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He is eager to leverage his knowledge to guide you through the world of brokerage.

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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