TradeZero withdrawal at a glance

When you are using an online broker for your trading/investing, there will come a point when you may want to enjoy the potential 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 TradeZero fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from TradeZero and how TradeZero's withdrawal fees and options compare to some of its close competitors.

TradeZero withdrawal fees and options snapshot
TradeZero Interactive Brokers tastyworks
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $50 per withdrawal One free per month, after that $10 Free for ACH withdrawal, $25 for US withdrawal and $45 for non-US withdrawal

How to withdraw money from TradeZero
TradeZero withdrawal options

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

However, bank transfer is the only withdrawal option available at TradeZero, 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 TradeZero and it took us more than 3 business days - a little bit on the slow side compared with most other brokers.

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  • Enter the amount to be withdrawn, and, if prompted, a short reason or description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

TradeZero withdrawal fees
TradeZero Interactive Brokers tastyworks
Domestic bank withdrawal $50 per withdrawal One free per month, after that $10 Free ACH withdrawal, but wire transfers cost $25
International bank withdrawal $50 per withdrawal One free per month, after that $10 per withdrawal $45 per wtihdrawal
Credit/debit card withdrawal Not available Not available Not available
Electronic wallets withdrawal No fees charged Not available Not available

How to withdraw money from TradeZero
Bottom line

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

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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