Today we will have a look at how to withdraw funds from your CFD account. Ideally you will be looking to withdraw funds as a result of successfully implementing your CFD trading plan with the result being the ability to withdraw trading profits.
Depositing funds with your CFD broker
Back at the very start 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 depositing the funds via BPay, cheque or credit card. When funding via BPay your funds will normally clear within 24 to 48 hours.
If you fund via cheque then you can expect to wait 3 to 5 days for your cheque to clear and the funds to be processed into your CFD trading account. By far the fastest of all three methods used to fund your Contracts for Difference account is via credit card. Most CFD brokers will allow you to do it in this fashion and you can expect the funds to be cleared within 1 to 2 hours and you can be ready to trade straight away.
Get the ball rolling – placing your first trade
Once your account is funded you are ready to trade and start making some nice solid returns. For most people their first trade is clearly the most daunting but once you have got 5 to 6 trades out of the way you will be well 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 the position to withdraw funds from your CFD account as a result of your trading profits. Withdrawing funds is quite simple and the most common way to do this is to link a nominated bank account to your CFD trading account and submit a withdrawal form. For most CFD brokers you can perform this withdrawal online and it can be done in a matter of minutes.
As you can see putting money into and withdrawing funds from your CFD account is very simple. If you have any questions of course your CFD broker will be able to assist via their customer service help line.