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How to withdraw money from tastytrade: methods and costs

Your expert
Gyula L.
Fact checked by
Tamás D.
Updated
5d ago
Personally tested
Data-driven
Independent

How can I withdraw money from tastytrade?

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?

tastytrade 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 tastytrade is slow and options are limited
Gyula
Gyula Lencsés, CFA

tastytrade 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 - tastytrade is a reliable broker that lets you access your funds any time.
  • You can use only bank transfers to withdraw funds.
  • Withdrawal can be a bit slow, often taking 3 or more days.
  • tastytrade charges $0 for basic withdrawals, but some methods may cost more.
  • Read our full review of tastytrade for detailed funding and trading conditions.

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

Yes, you can open an account at tastytrade if you live in United States!
country flag us
United States

Visit tastytrade

Overall score
4.5/5
Minimum deposit
$0
Stock fee
Low
Options fee
Low
Inactivity fee
no
Account opening
1 day

You can withdraw funds from tastytrade any time

Let me start with the good news: tastytrade 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.

You can only withdraw funds via bank transfer

So how to actually withdraw funds from tastytrade? At tastytrade, you can only withdraw your money using a bank transfer. This puts tastytrade at a slight disadvantage over brokers that also offer withdrawal to credit/debit cards or electronic wallets such as PayPal.

Broker
Bank transfer
Credit/debit card
tastytrade
TradeStation
Interactive Brokers
tastytrade withdrawal options

Remember, you can only withdraw funds to bank accounts that are in your name.

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

How do you withdraw money from tastytrade?

  • Select the account to withdraw from.
  • Link your bank account.
  • Set the transaction date/frequency.
  • Enter the amount to be withdrawn.
  • Confirm the withdrawal.

Visit tastytrade

Withdrawal can be a bit slow, taking 3 or more days

Whatever method you use, withdrawals from a brokerage account are rarely instant. When withdrawing money from tastytrade, it can often take three or more business days for the money to reach your bank account or card. This is a bit on the slow side compared with most other brokers, where withdrawal times can be as short as just one business day.

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 tastytrade, I would probably

  • log in to my tastytrade account at least 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 (probably around Monday or Tuesday the week before I needed the money) 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 tastytrade is free of charge. See the table below for details and possible exceptions, and also how tastytrade's fees compare to some of its immediate competitors.

Broker
Withdrawal fee
Domestic bank withdrawal
tastytrade
$0
$0.0
TradeStation
$0
$0.0
Interactive Brokers
$0
$0.0
tastytrade 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 tastytrade, the following account currencies are available: USD.

Visit tastytrade

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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.

author
Gyula Lencsés, CFA
Author of this article
Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.
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