Today we are going to see how to withdraw funds from your CFD account. Ideally, you will be looking to withdraw funds as a result of the successful implementation of your CFD trading plan, the result being the possibility of withdrawing profits from trading.
Deposit funds with your CFD broker
Back to the very beginning of opening your CFD trading account, you would have been asked to deposit funds when your account was initially approved. This process would have involved the deposit of funds via BPay, check or credit card. When funding through BPay, your funds will normally clear within 24-48 hours.
If you are funding by check, you can expect to wait 3 to 5 days for your check to clear and the funds to be processed in your CFD trading account. The credit card is by far the fastest of the three methods used to fund your Contracts for Difference account. Most CFD brokers will allow you to do it this way and you can expect the funds to clear within 1-2 hours and you can be ready to trade immediately.
Get the ball rolling – place your first trade
Once your account is funded, you are ready to trade and start making good, solid returns. For most people, their first trade is clearly the most intimidating, but once you have 5-6 trades, you'll be on your way to feeling comfortable and confident in placing your trades.
How to withdraw funds from your CFD account
Hopefully, you will soon be able to withdraw funds from your CFD account due to your trading profits. Withdrawing funds is fairly straightforward and the most common way to do it is to link a designated bank account to your CFD trading account and submit a withdrawal form. For most CFD brokers, you can do this withdrawal online and it can be done in a matter of minutes.
As you can see, placing and withdrawing funds from your CFD account is very easy. If you have any questions, of course, your CFD broker can help you through their customer service hotline.