When you use an online trading app to sell stocks or bonds at a higher price than what you paid for them, you make a profit. These trading profits get added to your account balance. However, you cannot use this money directly for shopping or paying bills unless you transfer it to your regular bank account.
So, how do you bring that money from your share trading account into your bank?
The process is simple. All trading accounts have a “Withdraw Funds” feature. That’s precisely what we are going to cover in this article.
A Step-by-Step Guide to Withdraw Money from a Trading Account
- Step 1: Log In
First, go to the stock trading app or the website and sign into your investment account using your username and password. Some sites will also ask for a temporary code sent to your phone for extra security.
Once the valid credentials are entered, you will be able to access your trading account dashboard.
- Step 2: Find The Fund Withdrawal Option
Once logged into your trading app account dashboard, find and click the “Withdraw Funds” button. Brokers may label this option differently – some call it “Withdraw Money” or just “Withdraw.”
But there will certainly be a clearly visible section that lets you transfer money out of the trading account to a bank account.
- Step 3: Select Preferred Method Of Withdrawal
Once you click the “Withdraw” button, choose the “Transfer to Bank” option if you want the money sent to your regular bank account. This electronic bank transfer is the most common way to get your funds from your investment account to your bank account.
- Step 4: Enter The Amount
Once you select the mode of withdrawal, you need to specify the amount you wish to withdraw. You can choose to partially withdraw the funds or completely transfer whatever your trading account holds. Whichever option you choose, ensure that you enter the amount accurately.
- Step 5: Review The Details
Before going further, double-check that the information you entered is right. This includes your personal details, the amount you want to withdraw, and how you want to receive the money. If everything looks correct, you can then continue with the withdrawal process.
- Step 6: Verify And Confirm
The trading platform will ask you to confirm your identity. You may need to answer a secret question or enter an OTP code sent to your phone. After verifying who you are, confirm the withdrawal request to start moving money from your investment account.
- Step 7: Receive The Funds In Your Bank Account
Once the broker approves your withdrawal, the money will be sent to the account you picked. Watch that account and wait for a notification that the funds have been deposited.
Conclusion:
A regular and intraday trading app can be used to gain maximum profits by investing in stocks and making wise trading decisions. Use the steps mentioned in this article to withdraw your profits from the trading account without facing any hassle or long wait. Remember to evaluate all the risks related to trade before proceeding and trade wisely.