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

TMGM withdrawal fees and options snapshot
TMGM Eightcap Axi
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes No
Electronic wallets Yes Yes Yes
Withdrawal fee Free withdrawal Free withdrawal

How to withdraw money from TMGM
TMGM withdrawal options

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

In addition to bank transfer, TMGM 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 TMGM.

You can also withdraw money to electronic wallets. This is a nice feature that isn't available at all brokers. At TMGM, you can withdraw money to the following electronic wallets: Paytrust, Neteller, Sticpay, Skrill, Fasapay.

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 TMGM and it took us 1 business day. It doesn't really get any better than this!

To withdraw money from TMGM, 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  • Enter the amount to be withdrawn, and, if prompted, a short reason or description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

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

How to withdraw money from TMGM
TMGM 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.

We have good news for you: basic withdrawal at TMGM is free of charge. See the table below for details and possible exceptions, as well as how TMGM compares with some of its immediate competitors.

TMGM withdrawal fees
TMGM Eightcap Axi
Domestic bank withdrawal Free withdrawal No internal fees at Eightcap Free withdrawal
International bank withdrawal There is a $20-30 processing fee No internal fees at Eightcap Free withdrawal
Credit/debit card withdrawal Free withdrawal No internal fees at Eightcap Not available
Electronic wallets withdrawal Free withdrawal Skrill, Neteller available. Skrill charges 1%, Neteller may incur charges dependent on withdrawal Not available

How to withdraw money from TMGM
Bottom line

TMGM withdrawal is free of charge in most cases and you have multiple options for withdrawing your money, making it relatively easy to access your funds.

To see how TMGM'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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